Playboy, Inc. Executive Retention Agreements

Playboy, Inc. has entered into retention agreements with its key executive officers, including the CEO, CFO, General Counsel, and President of Playboy Media & Brand. These agreements are designed to incentivize the executives to remain with the company and its subsidiaries. The agreements acknowledge existing restricted stock units (RSUs) granted on April 8, 2026, which vest on April 30, 2027. Additionally, the company plans to grant further RSUs in 2027, vesting in April 2028, subject to Compensation Committee approval. These future grants may be converted into cash payments under specific circumstances, such as a Change in Control or a sale of assets, or if employment is terminated by the company without cause. However, executives will not receive these 2027 grants or cash payments if they resign or are terminated for cause before the grants are issued. The agreements also address the termination of prior retention agreements and ensure compliance with Section 409A of the Internal Revenue Code.