Reddit's 3-year price return of 203.3% outperforms the peer group median by +182.3 percentage points, far exceeding the 50-point threshold required to trigger an against vote; no overboarding, attendance, independence, or other flags apply.

Joined the board in May 2024 (less than 24 months ago), so she is exempt from the stock performance trigger under policy; no other flags identified.

Reddit's strong 3-year outperformance versus peers (+182.3pp) means the TSR trigger does not apply; she attended at least 75% of meetings and holds no disqualifying outside positions.

Reddit's 3-year stock performance is well above the peer group median and the ETF fallback benchmark (XLC), so no TSR trigger fires; no attendance, overboarding, or independence concerns identified.

Reddit's 3-year outperformance versus peers is +182.3pp, far above the 50pp trigger threshold; Mr. Habiger holds seats at Boston Scientific, EnerSys, and Xperi in addition to Reddit, totaling four public company boards — this is at the overboarding threshold (policy triggers at 4 or more), however the filing lists him as serving on the Chicago Federal Reserve Board (not a public company board) and three public company boards, so the overboarding rule is not triggered; no other flags apply.

Joined the board in March 2024 (approximately 26 months ago, just over the 24-month exemption window), but Reddit's 3-year TSR outperforms peers by +182.3pp — far above the 50pp trigger threshold — so no TSR concern applies; no other flags identified.

Reddit's 3-year stock return of 203.3% outperforms the peer group median by +182.3 percentage points, well above the threshold needed to trigger an against vote; no attendance, overboarding, or independence concerns apply.

Reddit's exceptional stock performance versus peers means the TSR trigger does not apply; Mr. Seibel serves on Dropbox's board in addition to Reddit, which is only two public boards — well within policy limits.