Our annual long-term equity awards are approved at a meeting of the Talent & Compensation Committee held in early February of each year and are granted following the release of our Form for the prior year, typically several business days later and aligned with the end of the blackout period under our Insider Trading Policy. The dates for these grants are typically predetermined a year or more in advance on a fairly consistent cadence year-over-year. For new hires and promotions, we grant equity awards after the release of the applicable quarterly report on Form typically several business days later and aligned with the end of the blackout period under our Insider Trading Policy.

For our nonemployee directors, annual RSU awards are granted on first business day after January 1 of each year. The prorated annual grant of RSUs to a newly appointed director is made on the date of such director’s appointment.

In all cases, the timing of grants of equity awards occurs independent of the release of any material nonpublic information, and we do not backdate grants of awards and do not have any program, plan, or practice to select equity award grant dates for executive officers in coordination with the release of material nonpublic information for the purpose of affecting the value of executive compensation.

We have not granted stock options to our executive officers since 2014 and accordingly, in 2025, no stock options were granted to NEO within four business days prior to or one business day following the filing of a Form or that disclosed material nonpublic information.