CEO Bill McDermott granted $150M performance-based stock option award with 8 tranches

ServiceNow, Inc.

Award has approximate value of $150M; exercise price equals closing price on Oct 29, 2021.
100% performance-based: requires both stock price and subscription revenue targets per tranche.
Vesting subject to a two-year cliff; no shares can be sold until after Sept 30, 2026.
Achievement of highest stock price metric implies more than $150B incremental shareholder value.
No automatic acceleration on change in control; subscription revenue metric adjusted for M&A.

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