WASHINGTON and NEW YORK, Feb. 17, 2023 (GLOBE NEWSWIRE) — Global investment firm Carlyle cg (the “Company”) announced today that it has granted two Inducement Equity Awards to Harvey M. Schwartz on February 15, 2023, the effective date of Mr. Schwartz’s appointment as Chief Executive Officer of the Company, pursuant to the employment agreement entered into at the time Company and Mr. Schwartz on February 5, 2023. The awards were granted pursuant to Nasdaq Listing Rule 5635(c)(4) as an incentive to Mr. Schwartz’s employment with the Company.

The incentive awards consist of an award of performance restricted stock units in respect of 4,730,617 common shares of the Company (the “PSU award”) and an award of restricted stock units in respect of 2,031,602 common shares of the Company (the “RSU award “) ).

The PSU award has a performance period ending January 31, 2028 and is vesting in five equal tranches, with each tranche subject to a performance-based vesting condition requiring the achievement of an absolute share price threshold ($42.74, $51.29 , $58.12, $64.96 and $71.80 respectively) and the $64.96 and $71.80 tranches are also subject to performance vesting conditions in respect of total shareholder return (associated with the 60th percentile of S&P 500® Financials Index). In addition, each tranche is subject to time-based vesting conditions that require a minimum service period of one year, two years, three years, four years and five years, respectively. Distribution Equivalent Units are credited to the PSU award and are subject to the same terms and conditions, including vesting and settlement, as apply to the PSU award. The PSU award includes certain termination-related vesting provisions, which generally provide for full acceleration of vesting for previously earned tranches and certain vesting periods in the event of involuntary termination of employment without cause or termination for cause.