Wayfair awards CEO Niraj Shah up to 5M PSUs with stock price hurdles up to 675% over 10 years

Wayfair Inc.

CEO Award consists of 5,000,000 PSUs in six tranches tied to stock price milestones from $176 to $679 (100%-675% premium).
Vesting requires Shah remain CEO through applicable dates; first tranche possible after 2 years at ~2x current price.
Award contingent on stockholder approval of 2023 Plan amendment to increase share reserves.
No change to Shah's $80,000 salary; Board intends this to be sole equity award for 10-year duration.
Co-Founder Steve Conine stated award reinforces founder-led leadership and long-term alignment.

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