Box reduces revolving credit facility to $75M and grants CEO performance-based equity

BOX INC

Revolving commitments reduced from $150M to $75M; no loans outstanding, $11M letters of credit.
Maturity date amended to earliest of June 30, 2028, Oct 16, 2025 (subject to liquidity >= convertible notes), Feb 11, 2028 (if preferred stock outstanding).
CEO Aaron Levie granted PSUs covering 600K shares with price hurdles $40, $50, $60 and minimum vesting periods of 1,2,3 years.
Grant date Dec 18, 2024; PSUs performance-based on stock price average over 45 trading days.

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