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| | | | | | | 48 | | | Compensation Discussion and Analysis | | |||
| | | | | | | 62 | | | Compensation Committee Report | | |||
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| A-1 | | | |
| | | Proxy Statement | |
| Time and Date: | | | | | | | ||
| Place: | | | 1815 Augustine Cut-Off Wilmington, DE 19803 | | | |||
| Record Date: | | | April | | | |||
| Admission: | | | Please follow the instructions contained in this Proxy Statement | | | |||
| Mail Date: | | | The Proxy Availability Notice will be mailed to stockholders on or about April 29, | | |
PROPOSAL | | | | | | BOARD’S VOTING RECOMMENDATION | |
1 | | | Election of Directors | | | each Nominee | |
2 | | | Advisory Vote to Approve Executive Compensation | | | | |
3 | | | Ratification of Independent Registered Public Accounting Firm | | | |
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| INTERNET | | | TELEPHONE | | | | | IN PERSON | | |
| Stockholders of record may vote online at www.envisionreports.com/INCY | | | Stockholders of record may call toll-free 1-800-652—VOTE (8683) | | | Follow the instructions in your proxy materials. | | | You may obtain directions to the Annual Meeting by contacting our Company’s Investor Relations Department at (302) 498-6700. | |
| | | Proxy Statement | |
| 2|Proxy Statement | | | |
| Performance Highlights | |
| | | Proxy Statement | |
| Performance Highlights | |
| 4|Proxy Statement 2024 | | | |
| Performance Highlights | |
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| Performance Highlights | |
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| | | | | | | | | | | Committee Membership | | | | | | | | | | | | Committee Membership | | ||||||||||||||||||||||||||
Name and Primary Occupation | | Director Since | | Age | | Independent | | Other Outside Public Boards | | Compensation | | Audit and Finance | | Nominating and Corporate Governance | | Science and Technology | | | Director Since | | Age | | Independent | | Other Outside Public Boards | | Compensation | | Audit and Finance | | Nominating and Corporate Governance | | Science and Technology | | ||||||||||||||||
Hervé Hoppenot—Chairman of the Board President and Chief Executive Officer Incyte Corporation | | 2014 | | 62 | | | | 1 | | | | | | | | | | |||||||||||||||||||||||||||||||||
Hervé Hoppenot—Chair of the Board President and Chief Executive Officer Incyte Corporation | | 2014 | | 64 | | | | 0 | | | | | | | | | | |||||||||||||||||||||||||||||||||
Julian C. Baker—Lead Independent Director Managing Partner Baker Brothers Investments | | 2001 | | 55 | | ✓ | | 2 | | | | | | | | | 2001 | | 57 | | ✓ | | 3 | | | | | | | | ||||||||||||||||||||
Jean-Jacques Bienaimé Chief Executive Officer BioMarin Pharmaceutical Inc. | | 2015 | | 68 | | ✓ | | 1 | | | | | | | | |||||||||||||||||||||||||||||||||||
Jean-Jacques Bienaimé Former Chief Executive Officer BioMarin Pharmaceutical Inc. | | 2015 | | 70 | | ✓ | | 2 | | | | | | | | |||||||||||||||||||||||||||||||||||
Otis W. Brawley, M.D. Bloomberg Distinguished Professor of Oncology and Epidemiology Johns Hopkins University | | 2021 | | 62 | | ✓ | | 3 | | | | | | | | | | 2021 | | 64 | | ✓ | | 3 | | | | | | | | | ||||||||||||||||||
Paul J. Clancy Former Executive Vice President and Chief Financial Officer Alexion Pharmaceuticals, Inc. | | 2015 | | 60 | | ✓ | | 3 | | | | | | | | | 2015 | | 62 | | ✓ | | 2 | | | | | | | | ||||||||||||||||||||
Wendy L. Dixon, Ph.D. 1 Former Chief Marketing Officer and President, Global Marketing Bristol-Myers Squibb Company | | 2010 | | 66 | | ✓ | | 2 | | | | | | | | | ||||||||||||||||||||||||||||||||||
Jacqualyn A. Fouse, Ph.D. Chief Executive Officer Agios Pharmaceuticals, Inc. | | 2017 | | 60 | | ✓ | | 1 | | | | | | | | |||||||||||||||||||||||||||||||||||
Jacqualyn A. Fouse, Ph.D. Former Chief Executive Officer Agios Pharmaceuticals, Inc. | | 2017 | | 62 | | ✓ | | 1 | | | | | | | | |||||||||||||||||||||||||||||||||||
Edmund P. Harrigan, M.D. Former Senior Vice President of Worldwide Safety and Regulatory Pfizer Inc. | | 2019 | | 69 | | ✓ | | 2 | | | | | | | | | | 2019 | | 71 | | ✓ | | 1 | | | | | | | | |||||||||||||||||||
Katherine A. High, M.D. President, Therapeutics Asklepios Biopharmaceutical, Inc. | | 2020 | | 70 | | ✓ | | 1 | | | | | | | | | ||||||||||||||||||||||||||||||||||
Katherine A. High, M.D. Former President, Therapeutics Asklepios Biopharmaceutical, Inc. | | 2020 | | 72 | | ✓ | | 1 | | | | | | | | | ||||||||||||||||||||||||||||||||||
Susanne Schaffert, Ph.D. Former President, Novartis Oncology | | 2022 | | 57 | | ✓ | | 1* | | | | | | | |
| | | Committee Chair | | | | | Financial Expert | | | | | Member | |
| | | |
| Corporate Governance Highlights | |
Expertise | | | Hoppenot | | | Baker | | | Bienaimé | | | Brawley | | | Clancy | | | Fouse | | | Harrigan | | | High | |
Biopharma Industry | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | |
Operational Leadership | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | ✓ | | | ✓ | | | ✓ | |
International | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | ✓ | | | ✓ | | | | |
Drug Discovery, Development & Regulatory | | | ✓ | | | | | | ✓ | | | ✓ | | | | | | | | | ✓ | | | ✓ | |
Commercial | | | ✓ | | | | | | ✓ | | | | | | | | | ✓ | | | | | | | |
Financial | | | ✓ | | | ✓ | | | ✓ | | | | | | ✓ | | | ✓ | | | | | | | |
Additional Information | | | | | | | | | | | | | | | | | | | | | | | | | |
PhD/MD | | | | | | | | | | | | ✓ | | | | | | ✓ | | | ✓ | | | ✓ | |
Attendance | | | 100% | | | 100% | | | 93% | | | 100% | | | 100% | | | 100% | | | 88% | | | 100% | |
Independence | | | | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | |
Expertise | | | Hoppenot | | | Baker | | | Bienaimé | | | Brawley | | | Clancy | | | Fouse | | | Harrigan | | | High | | | Schaffert | |
Biopharma Industry | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | |
Operational Leadership | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | |
International | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | ✓ | | | ✓ | | | | | | ✓ | |
Drug Discovery, Development & Regulatory | | | ✓ | | | | | | ✓ | | | ✓ | | | | | | | | | ✓ | | | ✓ | | | | |
Commercial | | | ✓ | | | | | | ✓ | | | | | | | | | ✓ | | | | | | | | | ✓ | |
Financial | | | ✓ | | | ✓ | | | ✓ | | | | | | ✓ | | | ✓ | | | | | | | | | | |
Gender | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Male | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | | | | ✓ | | | | | | | |
Female | | | | | | | | | | | | | | | | | | ✓ | | | | | | ✓ | | | ✓ | |
Additional Information | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
PhD/MD | | | | | | | | | | | | ✓ | | | | | | ✓ | | | ✓ | | | ✓ | | | ✓ | |
Independence | | | | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | | | ✓ | |
| | | |
| Corporate Governance Highlights | |
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| Each year, we conduct stockholder outreach to gather direct feedback on our corporate governance, compensation practices and environmental, social and governance (ESG) practices. Since 2018, we have contacted stockholders who represent the top 80% of our shares outstanding. As a result of our annual stockholder engagement, we have implemented several significant enhancements in our corporate governance, compensation policies, ESG activities and stockholder communication practices. The following changes were made in response to feedback received: | | | ANNUAL OUTREACH TO STOCKHOLDERS: 80% OF SHARES OUTSTANDING | |
| | | Action | | | Year of Implementation | |
| | | Governance | | | | |
✓ | | | Adopted a proxy access bylaw | | | 2021 | |
✓ | | | Adopted equity ownership guidelines | | | 2016, amended 2021 | |
✓ | | | Adopted a director overboarding policy | | | 2020 | |
| | | Compensation | | | | |
✓ | | | Adjusted the executive compensation pay mix to include higher percentages of performance shares | | | Performance Shares added in 2018; increased % of performance shares in 2020, 2022 and | |
✓ | | | Established a three-year performance period for performance shares award to our CEO and other U.S.-based executive officers | | | 2020 | |
✓ | | | | | 2019 | | |
✓ | | | Eliminated special | | | 2019 | |
✓ | | | Added enhanced disclosure on certain items such as goal achievement | | | 2017 | |
| | | ESG | | | | |
✓ | | | Added ESG goals to our Annual Incentive Plan | | | 2022 | |
✓ | | | Disclosed ethnic and racial diversity data for U.S. workforce | | | 2021 | |
✓ | | | Enhanced ESG disclosure | | | 2019 | |
| | | |
| Stockholder Engagement | |
| | | |
| What We Do | | |||
| ✓ We pay for performance, including having a total stockholder return (TSR) component for | | | ✓ We have a compensation clawback policy | |
| ✓ | | | ✓ Our Compensation Committee uses an independent compensation consultant, Compensia, and considers peer groups in establishing executive compensation | |
| ✓ Performance shares have a three-year performance period | | | ✓ Robust anti-hedging and anti-speculation policies in place | |
| ✓ Robust stock ownership guidelines for our CEO, executive officers and our directors | | | ✓ Our Compensation Committee is comprised of all independent directors | |
| ✓ Double-trigger equity vesting in the event of a change-in-control | | | ✓ We conduct an annual say-on-pay vote | |
| ✓ | | | ✓ We engage proactively with our stockholders throughout the year | |
| ✓ Performance share awards cliff vest after 3 years | | | ✓ We require executives to plan any stock trading in advance through the use of 10b5-1 plans | |
| What We Don’t Do | | |||
| ✗ We do not reprice stock options | | | ✗ We do not provide golden parachute excise tax gross-ups | |
| ✗ We do not provide single-trigger equity vesting in the event of a change-in-control | | | ✗ We do not provide excessive perquisites for executives | |
| | | |
| Executive Compensation Highlights | |
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| Global Responsibility | |
Area of Focus | | | Progress in | |
Professional Development | | | ✓ ✓ | |
Compensation, Benefits, & Wellness | | | ✓ ✓ | |
| | | | | |
| We were Incyte was recognized specifically for: ✓ treating employees with respect ✓ being socially responsible ✓ having loyal employees | | | | |
| ✓ #21 on Newsweek’s inaugural Top 100 Global Most Loved Workplaces ✓ #23 on ✓ One of | | | |
| | | |
| Global Responsibility | |
| As of December 31, In 2022 we disclosed our full EEO-1 report for the first time, and continue to publish our EEO-1 reports on our website when available. We do not collect racial diversity data outside of the U.S., given various privacy We | | | Note totals may not add due to rounding | |
| | | |
| Global Responsibility | |
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| Global Responsibility | |
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| Global Responsibility | |
| 2023 Goal | | | Achievements | |
| Achieve a minimum rate of 75% of open positions in the U.S. having at least one diverse (Black or Hispanic) applicant | | | ✓ We exceeded this goal, achieving a rate of 80% of open positions having at least one diverse applicant. | |
| At least 15% of global employees participate in community volunteer activities through the use of the employee volunteer day | | | ✓ We proudly surpassed this goal in 2023, with 34% of global employees embracing the opportunity to volunteer in their local communities. | |
| Develop a global emissions reduction and mitigation plan to achieve our corporate operational neutrality goal by 2025 | | | ✓ We achieved this goal, developing a plan to not only meet our 2025 goal, but to help chart our course beyond 2025. | |
| 20|Proxy Statement 2024 | | | |
Hervé Hoppenot | | | THE BOARD Age: | | | COMMITTEES: • None | | | DIRECTOR SINCE: 2014 | |
BACKGROUND: Mr. Hoppenot joined Incyte as President and Chief Executive Officer and a Director in January 2014, and was appointed QUALIFICATIONS: The Board has concluded that Hervé Hoppenot should serve on the Board because he has significant leadership and senior management experience from his various executive positions in the healthcare industry, including as the President of Novartis Oncology, Novartis Pharmaceuticals Corporation. His past experiences and his current role as our CEO give him strong knowledge of our strategy, markets, competitors, financials and operations. OTHER PUBLIC COMPANY BOARDS: | | |||||||||
Current None | | | Past 5 Years Cellectis S.A. (2017-2023) | |
| | | Proxy Statement | |
| PROPOSAL 1 Election of Directors | |
Julian C. Baker | | | LEAD INDEPENDENT DIRECTOR Age: | | | COMMITTEES: • Nominating and Corporate Governance (Chair) • Compensation | | | DIRECTOR SINCE: 2001 | | | | ||||
BACKGROUND: Mr. Baker is a Managing Member of Baker Bros. Advisors LP, which he and his brother, Felix Baker, Ph.D., founded in 2000. Baker Bros. Advisors LP is a biotechnology-focused investment advisor to fund partnerships whose investors are primarily endowments and foundations. Mr. Baker’s career as a fund manager began in 1994 when he co-founded a biotechnology investing partnership with the Tisch family. Previously, Mr. Baker was employed from 1988 to 1993 by the private equity investment arm of Credit Suisse First Boston Corporation. QUALIFICATIONS: The Board has concluded that Julian C. Baker should serve on the Board because he is an experienced investor in many life sciences companies. He brings to the Board significant strategic and financial expertise and extensive knowledge of the life sciences and biopharmaceuticals industries as a result of his investments in and service as a director of other publicly and privately held life sciences companies. OTHER PUBLIC COMPANY BOARDS: | | | | |||||||||||||
Current ACADIA Pharmaceuticals Inc. Madrigal Pharmaceuticals, Inc. Prelude Therapeutics Incorporated | | | Past 5 Years Genomic Health, Inc. (2001-2019) | | | | | | | |
Jean-Jacques Bienaimé | | | INDEPENDENT DIRECTOR Age: | | | COMMITTEES: • Compensation (Chair) • Nominating and Corporate Governance | | | DIRECTOR SINCE: 2015 | |
BACKGROUND: Mr. Bienaimé QUALIFICATIONS: The Board has concluded that Jean-Jacques Bienaimé should serve on the Board because he has significant leadership experience in the management of biotechnology organizations, business development, and sales and marketing of both biotechnology and pharmaceutical products. He also brings significant experience as a director of other publicly held life sciences companies. OTHER PUBLIC COMPANY BOARDS: | | |||||||||
Current BioMarin Pharmaceutical Inc. Immunome, Inc. | | | Past 5 Years None | |
| 22|Proxy Statement | | | |
| PROPOSAL 1 Election of Directors | |
Otis W. Brawley, M.D. | | | INDEPENDENT DIRECTOR Age: | | | COMMITTEES: • Science and Technology | | | DIRECTOR SINCE: 2021 | |
BACKGROUND: Dr. Brawley has served as a Bloomberg Distinguished Professor of Oncology and Epidemiology at Johns Hopkins University since January 2019. From April 2007 to December 2018, Dr. Brawley served as the Chief Medical and Scientific Officer of the American Cancer Society. From January 2002 to August 2007, Dr. Brawley was director of the Georgia Cancer Center at Grady Memorial Hospital. From April 2001 to December 2018, Dr. Brawley served as Professor of hematology, oncology, medicine and epidemiology at Emory University. Prior to joining Emory University, Dr. Brawley was an assistant director and senior investigator at the National Cancer Institute and an internist and oncologist at the National Institutes of Health Clinical Center and Bethesda Naval Hospital. QUALIFICATIONS: The Board has concluded that Otis W. Brawley should serve on the Board because he has significant medical and scientific leadership experience. Dr. Brawley’s medical and academic background in oncology and hematology, together with his medical, scientific and public health leadership experience, are expected to assist the Board in its oversight role over our drug discovery and development efforts and to provide the Board with relevant insight into healthcare delivery. In addition, Dr. Brawley has experience serving as a director of other publicly held life sciences companies. OTHER PUBLIC COMPANY BOARDS: | | |||||||||
Current Agilent Technologies, Inc. Lyell Immunopharma, Inc. PDS Biotechnology Corporation | | | Past 5 Years None | |
Paul J. Clancy | | | INDEPENDENT DIRECTOR Age: | | | COMMITTEES: • Audit and Finance (Chair) • Compensation | | | DIRECTOR SINCE: 2015 | |
BACKGROUND: Mr. Clancy has more than 30 years of experience in financial management and strategic business planning, and served as a senior advisor from October 2019 until July 2020 to, and as the Executive Vice President and Chief Financial Officer from July 2017 through October 2019 of, Alexion Pharmaceuticals, Inc., a biopharmaceutical company. Prior to joining Alexion, Mr. Clancy served as Executive Vice President, Finance and Chief Financial Officer of Biogen Inc. (formerly known as Biogen Idec Inc.), a biopharmaceutical company, from August 2007 until June 2017. He also served as Senior Vice President of Finance of Biogen, with responsibilities for leading the treasury, tax, investor relations and business planning groups. Prior to the 2003 merger of Biogen, Inc. and IDEC Pharmaceuticals Corporation to form Biogen, Mr. Clancy was the Vice President of Portfolio Management of Biogen. He joined Biogen in 2001 as Vice President of U.S. Marketing. Before Biogen, Mr. Clancy spent 13 years at PepsiCo Inc., a food and beverage company, serving in a variety of financial, strategy and general management positions. QUALIFICATIONS: The Board has concluded that Paul J. Clancy should serve on the Board because he has significant financial and executive leadership experience at large multi-national biopharmaceutical companies. Mr. Clancy also has experience as a director of a publicly held biotechnology company, and his breadth and depth of financial experience position him well to serve as Chair of the Audit and Finance Committee of the Board. OTHER PUBLIC COMPANY BOARDS: | | |||||||||
Current Exact Sciences Corporation Xilio Therapeutics, Inc. | | | Past 5 Years Agios Pharmaceuticals, Inc. (2013-2023) | |
| | | Proxy Statement | |
| PROPOSAL 1 Election of Directors | |
Jacqualyn A. Fouse, Ph.D. | | | INDEPENDENT DIRECTOR Age: | | | COMMITTEES: • Audit and Finance • Nominating and Corporate Governance | | | DIRECTOR SINCE: 2017 | |
BACKGROUND: Dr. Fouse QUALIFICATIONS: The Board has concluded that Jacqualyn A. Fouse should serve on the Board because she has significant executive leadership, corporate finance, financial reporting and accounting expertise as a result of her executive roles at Agios and previously at Dermavant Sciences and Celgene, as well as her prior positions with other companies. Additionally, Dr. Fouse is able to provide diverse and valuable corporate governance, management, operational and strategic expertise to the Board through her experience as an executive officer and a public company board member. OTHER PUBLIC COMPANY BOARDS: | | |||||||||
Current Agios Pharmaceuticals, Inc. | | | Past 5 Years Dick’s Sporting Goods, Inc. (2010-2020) | |
Edmund P. Harrigan, M.D. | | | INDEPENDENT DIRECTOR Age: | | | COMMITTEES: • Science and Technology (Chair) • Audit and Finance | | | DIRECTOR SINCE: 2019 | |
BACKGROUND: QUALIFICATIONS: The Board has concluded that Edmund P. Harrigan should serve on the Board because he has significant executive leadership experience in the pharmaceutical and biotechnology industry, including experience in drug discovery and development, regulatory affairs and business development. Dr. Harrigan also brings substantial medical and scientific experience to the Board. In addition, Dr. Harrigan has significant experience serving as a director of other publicly held life sciences companies. OTHER PUBLIC COMPANY BOARDS: | | |||||||||
Current ACADIA Pharmaceuticals, Inc. | | | Past 5 Years Bellicum Pharmaceuticals, Inc. (2018-2019) Karuna Therapeutics, Inc. (2011-2020) PhaseBio Pharmaceuticals, Inc. (2018-2023) | |
| 24|Proxy Statement | | | |
| PROPOSAL 1 Election of Directors | |
Katherine A. High, M.D. | | | INDEPENDENT DIRECTOR Age: | | | COMMITTEES: • Science and Technology | | | DIRECTOR SINCE: 2020 | |
BACKGROUND: QUALIFICATIONS: The Board has concluded that Katherine A. High should serve on the Board because she has significant executive, scientific and medical leadership experience, including extensive academic and industry experience in drug discovery and development. Her medical background, together with her experience leading drug discovery and development efforts at Spark Therapeutics, are expected to assist the Board in its oversight role over our drug discovery and development efforts. In addition, Dr. High has experience serving as an executive officer and director of publicly traded life sciences companies. OTHER PUBLIC COMPANY BOARDS: | | |||||||||
Current CRISPR Therapeutics AG | | | Past 5 Years Spark Therapeutics, Inc. (2014-2019) | |
Susanne Schaffert, Ph.D. | | | INDEPENDENT DIRECTOR Age: 57 | | | COMMITTEES: • Compensation • Science and Technology | | | DIRECTOR SINCE: 2022 | |
BACKGROUND: Dr. Schaffert joined the Board in October 2022. Dr. Schaffert previously spent 26 years at the pharmaceutical company Novartis AG, where she served in various roles. Most recently, Dr. Schaffert served as President of Novartis Oncology from January 2019 until April 2022. Prior to that role, Dr. Schaffert served from January 2018 to February 2019 as President and Chair of Accelerated Advanced Applications and from December 2012 to January 2018 as General Manager Region Europe, Novartis Oncology. From March 2010 to December 2012, Dr. Schaffert was Global Head of Investor Relations, and before that, Dr. Schaffert served as Global Franchise Head for Immunology and Transplantation. Dr. Schaffert first joined Novartis Germany in 1995 and held a series of positions in sales and marketing with increasing responsibilities in national, regional and global functions. QUALIFICATIONS: The Board has concluded that Susanne Schaffert should serve on the Board because she has significant executive leadership experience, across clinical development, marketing and sales, finance and commercialization in the global pharmaceutical and biotechnology industries, with a focus on oncology, immuno-oncology and cell therapy. Her background, together with her experience formerly serving as President of Novartis Oncology, are expected to assist the Board in its oversight role over our clinical development and global commercialization efforts. OTHER PUBLIC COMPANY BOARDS: | | |||||||||
Current* Galapagos NV | | | Past 5 Years Rubius Therapeutics, Inc. (2022-2023) | |
| | | Proxy Statement | |
Audit and Finance Committee | | | COMMITTEE MEMBERS | |
The Audit and Finance Committee’s responsibilities include: ➤ assisting the Board in fulfilling its oversight responsibilities relating to the Company’s financial statements, systems of internal control over financial reporting, auditing, accounting and financial reporting processes, compliance with legal and regulatory requirements, financing and tax strategies, capital allocation, capital structure, and enterprise risk ➤ appointing, compensating, evaluating and, when appropriate, replacing our independent registered public accounting firm; ➤ reviewing and pre-approving audit and permissible non-audit services; ➤ reviewing the scope of the annual audit; ➤ monitoring the independent registered public accounting firm’s relationship with the Company; ➤ meeting with the independent registered public accounting firm and management to discuss and review our financial statements, internal control over financial reporting, and auditing, accounting and financial reporting processes; ➤ reviewing the results of management’s efforts to monitor compliance with the Company’s programs and policies designed to promote adherence to applicable laws and regulations; ➤ overseeing the management of ➤ overseeing our internal audit function; and ➤ reviewing matters related to the Company’s investment policy, capital allocation strategies, capital structure and tax The Board has determined that Mr. Clancy and Dr. Fouse are each qualified as an Audit Committee Financial Expert under the definition outlined by the Securities and Exchange Commission. No member of our Audit and Finance Committee sits on more than three public company audit committees, including ours. | | | Paul J. Clancy (Chair) Jacqualyn A. Fouse Edmund P. Harrigan Met 8 times in | |
| 26|Proxy Statement | | | |
| Board Committees | |
Compensation Committee | | | COMMITTEE MEMBERS | |
The Compensation Committee’s responsibilities include: ➤ assisting the Board in meeting its responsibilities with regard to oversight and determination of executive compensation; ➤ reviewing and making recommendations with respect to major compensation plans, policies and programs of the Company; ➤ developing and monitoring compensation arrangements for our executive officers; ➤ determining compensation for our CEO and other executive officers; ➤ determining stock-based compensation awards for our executive officers; ➤ administering performance-based compensation plans such as our Amended and Restated 2010 Stock Incentive Plan (the “2010 Stock Incentive Plan”); ➤ reviewing and recommending directors’ compensation to the full Board; and ➤ possessing sole authority to select, retain, terminate and approve the fees and other retention terms of consultants as it deems appropriate to perform its duties. | | | Jean Jacques Bienaimé (Chair) Julian C. Baker Paul J. Clancy Susanne Schaffert Met 5 times in | |
Nominating and Corporate Governance Committee | | | COMMITTEE MEMBERS | |
The Nominating and Corporate Governance Committee’s responsibilities include: ➤ identifying qualified individuals to become members of the Board; ➤ determining the composition of the Board and its committees; ➤ monitoring a process to assess Board effectiveness; ➤ recommending nominees to fill vacancies on the Board; ➤ reviewing and making recommendations to the Board with respect to candidates for director proposed by stockholders; ➤ reviewing the composition, functioning and effectiveness of the Board and its committees; ➤ developing and recommending to the Board codes of conduct applicable to officers, directors and employees and charters for the various committees of the Board; and ➤ reviewing and making recommendations to the Board regarding the succession plan relating to our CEO and other executive | | | Julian C. Baker (Chair) Jean Jacques Bienaimé Jacqualyn A. Fouse Met | |
Science and Technology Committee | | | COMMITTEE MEMBERS | |
The Science and Technology Committee’s responsibilities include: ➤ assisting the Board in its general oversight of the Company’s research and development programs and progress in achieving research and development goals and objectives; ➤ providing strategic advice to the Board and management regarding emerging science and technology issues and trends; ➤ reviewing and assessing the Company’s approaches to acquiring and maintaining technology positions or otherwise investing in research and development programs; and ➤ assisting the Board with its oversight responsibility for enterprise risk management in areas affecting the Company’s research and development activities. | | | Edmund P. Harrigan (Chair) Otis W. Brawley Katherine A. High Susanne Schaffert Met 2 times in | |
| | | Proxy Statement | |
| Board Committees | |
| | | | | | | | | | | | Committee Membership | | |||||||||
Name and Primary Occupation | | | Director Since | | | Age | | | Independent | | | Compensation | | | Audit and Finance | | | Nominating and Corporate Governance | | | Science and Technology | |
Hervé Hoppenot—Chairman of the Board President and Chief Executive Officer Incyte Corporation | | | 2014 | | | 62 | | | | | | | | | | | | | | | | |
Julian C. Baker—Lead Independent Director Managing Partner Baker Brothers Investments | | | 2001 | | | 55 | | | ✓ | | | | | | | | | | | | ||
Jean-Jacques Bienaimé Chief Executive Officer BioMarin Pharmaceutical Inc. | | | 2015 | | | 68 | | | ✓ | | | | | | | | | | | | ||
Otis W. Brawley, M.D. Bloomberg Distinguished Professor of Oncology and Epidemiology Johns Hopkins University | | | 2021 | | | 62 | | | ✓ | | | | | | | | | | | | | |
Paul J. Clancy Former Executive Vice President and Chief Financial Officer Alexion Pharmaceuticals, Inc. | | | 2015 | | | 60 | | | ✓ | | | | | | | | | | | | ||
Wendy L. Dixon, Ph.D.1 Former Chief Marketing Officer and President, Global Marketing Bristol-Myers Squibb Company | | | 2010 | | | 66 | | | ✓ | | | | | | | | | | | | | |
Jacqualyn A. Fouse, Ph.D. Chief Executive Officer Agios Pharmaceuticals, Inc. | | | 2017 | | | 60 | | | ✓ | | | | | | | | | | | | ||
Edmund P. Harrigan, M.D. Former Senior Vice President of Worldwide Safety and Regulatory Pfizer Inc. | | | 2019 | | | 69 | | | ✓ | | | | | | | | | | | | | |
Katherine A. High, M.D. President, Therapeutics Asklepios Biopharmaceutical, Inc. | | | 2020 | | | 70 | | | ✓ | | | | | | | | | | | | |
| | | | | | | | | | | | | | | Committee Membership | | |||||||||
Name and Primary Occupation | | | Director Since | | | Age | | | Independent | | | Other Outside Public Boards | | | Compensation | | | Audit and Finance | | | Nominating and Corporate Governance | | | Science and Technology | |
Hervé Hoppenot—Chair of the Board President and Chief Executive Officer Incyte Corporation | | | 2014 | | | 64 | | | | | | 0 | | | | | | | | | | | | | |
Julian C. Baker—Lead Independent Director Managing Partner Baker Brothers Investments | | | 2001 | | | 57 | | | ✓ | | | 3 | | | | | | | | | | | | ||
Jean-Jacques Bienaimé Former Chief Executive Officer BioMarin Pharmaceutical Inc. | | | 2015 | | | 70 | | | ✓ | | | 2 | | | | | | | | | | | | ||
Otis W. Brawley, M.D. Bloomberg Distinguished Professor of Oncology and Epidemiology Johns Hopkins University | | | 2021 | | | 64 | | | ✓ | | | 3 | | | | | | | | | | | | | |
Paul J. Clancy Former Executive Vice President and Chief Financial Officer, Alexion Pharmaceuticals, Inc. | | | 2015 | | | 62 | | | ✓ | | | 2 | | | | | | | | | | | | ||
Jacqualyn A. Fouse, Ph.D. Former Chief Executive Officer Agios Pharmaceuticals, Inc. | | | 2017 | | | 62 | | | ✓ | | | 1 | | | | | | | | | | | | ||
Edmund P. Harrigan, M.D. Former Senior Vice President of Worldwide Safety and Regulatory Pfizer Inc. | | | 2019 | | | 71 | | | ✓ | | | 1 | | | | | | | | | | | | ||
Katherine A. High, M.D. Former President, Therapeutics Asklepios Biopharmaceutical, Inc.. | | | 2020 | | | 72 | | | ✓ | | | 1 | | | | | | | | | | | | | |
Susanne Schaffert, Ph.D. Former President, Novartis Oncology | | | 2022 | | | 57 | | | ✓ | | | 1* | | | | | | | | | | | |
| | | Committee Chair | | | | | Financial Expert | | | | | Member | |
| 28|Proxy Statement | | | |
Role | | | Cash Retainer ($)(1) | | | Total Equity Awards ($)(2) | | ||||||
Lead Independent Director | | | | | 100,000 | | | | | | 400,000 | | |
Non-Employee Director | | | | | 60,000 | | | | | | 400,000 | | |
Role | | | Cash Retainer ($)(1) | | |||
Chair of Audit and Finance Committee | | | | | 25,000 | | |
Members of Audit and Finance Committee | | | | | 12,500 | | |
Chair of Compensation Committee | | | | | 25,000 | | |
Members of Compensation Committee | | | | | 10,000 | | |
Chair of Nominating and Corporate Governance Committee | | | | | 18,000 | | |
Members of Nominating and Corporate Governance Committee | | | | | 9,000 | | |
Chair of Science and Technology Committee | | | | | 25,000 | | |
Members of Science and Technology Committee | | | | | 10,000 | | |
| | | Proxy Statement 2024|29 | |
| Compensation of Directors | |
Name | | | Fees Earned or Paid in Cash ($) | | | Stock Awards ($)(1)(3) | | | Option Awards ($)(2)(3) | | | Total ($) | | ||||||||||||
Julian C. Baker | | | | | — | | | | | | 275,917 | | | | | | 239,875 | | | | | | 515,792 | | |
Jean-Jacques Bienaimé | | | | | 69,750 | | | | | | 159,917 | | | | | | 239,875 | | | | | | 469,542 | | |
Otis W. Brawley | | | | | 652 | | | | | | 86,921 | | | | | | 130,461 | | | | | | 218,034 | | |
Paul J. Clancy | | | | | — | | | | | | 254,917 | | | | | | 239,875 | | | | | | 494,792 | | |
Wendy L. Dixon | | | | | — | | | | | | 231,917 | | | | | | 239,875 | | | | | | 471,792 | | |
Jacqualyn A. Fouse | | | | | — | | | | | | 239,917 | | | | | | 239,875 | | | | | | 479,792 | | |
Name | | Fees Earned or Paid in Cash ($) | | Stock Awards ($)(1)(3) | | Option Awards ($)(2)(3) | | Total ($) | | | Fees Earned or Paid in Cash ($) | | Stock Awards ($)(1)(3) | | Option Awards ($)(2)(3) | | Total ($) | | ||||||||||||||||||||||||||||||||
Julian C. Baker | | | | — | | | | | 281,907 | | | | | 230,854 | | | | | 512,761 | | | |||||||||||||||||||||||||||||
Jean-Jacques Bienaimé | | | | 94,000 | | | | | 153,907 | | | | | 230,854 | | | | | 478,761 | | | |||||||||||||||||||||||||||||
Otis W. Brawley | | | | 70,000 | | | | | 153,907 | | | | | 230,854 | | | | | 454,761 | | | |||||||||||||||||||||||||||||
Paul J. Clancy | | | | — | | | | | 248,907 | | | | | 230,854 | | | | | 479,761 | | | |||||||||||||||||||||||||||||
Jacqualyn A. Fouse | | | | 81,500 | | | | | 153,907 | | | | | 230,854 | | | | | 466,261 | | | |||||||||||||||||||||||||||||
Edmund P. Harrigan | | | | — | | | | | 229,917 | | | | | 239,875 | | | | | 469,792 | | | | | | — | | | | | 251,407 | | | | | 230,854 | | | | | 482,261 | | | ||||||||
Katherine A. High | | | | 52,500 | | | | | 159,917 | | | | | 239,875 | | | | | 452,292 | | | | | | 70,000 | | | | | 153,907 | | | | | 230,854 | | | | | 454,761 | | | ||||||||
Susanne Schaffert | | | | 60,000 | | | | | 153,907 | | | | | 230,854 | | | | | 444,761 | | |
Name | | Value of Restricted Stock Awards ($) | | Grant Date Fair Value of RSU Awards ($) | | | Value of Restricted Share Awards in lieu of Cash Retainer and Committee Fees ($) | | Grant Date Fair Value of RSU Awards ($) | | ||||||||||||||||
Julian C. Baker | | | | 116,000 | | | | | 159,917 | | | | | | 128,000 | | | | | 153,907 | | | ||||
Jean-Jacques Bienaimé | | | | — | | | | | 159,917 | | | | | | — | | | | | 153,907 | | | ||||
Otis W. Brawley | | | | — | | | | | 86,921 | | | | | | — | | | | | 153,907 | | | ||||
Paul J. Clancy | | | | 95,000 | | | | | 159,917 | | | | | | 95,000 | | | | | 153,907 | | | ||||
Wendy L. Dixon | | | | 72,000 | | | | | 159,917 | | | |||||||||||||||
Jacqualyn A. Fouse | | | | 80,000 | | | | | 159,917 | | | | | | — | | | | | 153,907 | | | ||||
Edmund P. Harrigan | | | | 70,000 | | | | | 159,917 | | | | | | 97,500 | | | | | 153,907 | | | ||||
Katherine A. High | | | | — | | | | | 159,917 | | | | | | — | | | | | 153,907 | | | ||||
Susanne Schaffert | | | | — | | | | | 153,907 | | |
Name | | | Number of Unvested RSU Awards | | | Number of Shares Underlying Unexercised Option | | ||||||
Julian C. Baker | | | | | 1,923 | | | | | | 145,996 | | |
Jean-Jacques Bienaimé | | | | | 1,923 | | | | | | 120,996 | | |
Otis W. Brawley | | | | | 1,255 | | | | | | 5,910 | | |
Paul J. Clancy | | | | | 1,923 | | | | | | 120,996 | | |
Wendy L. Dixon | | | | | 1,923 | | | | | | 125,996 | | |
Jacqualyn A. Fouse | | | | | 1,923 | | | | | | 79,746 | | |
Edmund P. Harrigan | | | | | 1,923 | | | | | | 22,884 | | |
Katherine A. High | | | | | 1,923 | | | | | | 19,809 | | |
| | | |
| Compensation of Directors | |
Name | | | Number of Unvested RSU Awards | | | Number of Shares Underlying Unexercised Options | | ||||||
Julian C. Baker | | | | | 2,505 | | | | | | 126,414 | | |
Jean-Jacques Bienaimé | | | | | 2,505 | | | | | | 141,414 | | |
Otis W. Brawley | | | | | 2,505 | | | | | | 26,328 | | |
Paul J. Clancy | | | | | 2,505 | | | | | | 141,414 | | |
Jacqualyn A. Fouse | | | | | 2,505 | | | | | | 100,164 | | |
Edmund P. Harrigan | | | | | 2,505 | | | | | | 43,302 | | |
Katherine A. High | | | | | 2,505 | | | | | | 40,227 | | |
Susanne Schaffert | | | | | 2,505 | | | | | | 18,045 | | |
| | | Proxy Statement 2024|31 | |
| What We Do | | |||
| ✓ Majority voting for directors in uncontested elections | | | ✓ Audit and Finance Committee receives semiannual updates by our Chief Compliance Officer | |
| ✓ Strong and active Lead Independent Director, representing one of our largest stockholders | | | ✓ Board and the committees may seek advice from outside advisors | |
| ✓ Audit and Finance Committee, Nominating and Corporate Governance Committee and Compensation Committee comprised solely of independent directors | | | ✓ Pre-clearance by our General Counsel required for trading in our stock by any director, and all executive trading must be through a pre-cleared trading plan | |
| ✓ Audit and Finance Committee regularly meets with Ernst & Young LLP, our independent registered public accounting firm, as well as our corporate audit services team—without members of executive management present | | | ✓ Maintain robust Code of Business Conduct and Ethics, Senior Financial Officers’ Code of Ethics and Board of Directors Code of Conduct and Ethics requirements | |
| ✓ An independent compensation consultant is engaged by and reports directly to our Compensation Committee | | | ✓ Board members have complete access to management and employees in their discretion | |
| ✓ Annual election of directors | | | ✓ High Board and committee attendance | |
| ✓ Review and approve corporate strategic plan, including the budget, at least annually | | | ✓ Robust commitment to corporate, environmental and social responsibility | |
| ✓ Limits on outside board and audit committee service | | | ✓ Extensive ongoing stockholder outreach, often involving Lead Independent Director | |
| ✓ Proxy access bylaw (3% ownership, 3 years, nominees up to 20% of the Board) | | | ✓ Audit and Finance Committee is updated by our cybersecurity team at least twice per year | |
| What We Don’t Do | | |||
| ✗ No staggered or classified Board | | | ✗ No hedging or speculative trading in our stock by directors, executives or other employees | |
| ✗ No plurality voting in uncontested Board elections | | | ✗ Board members may not be “overboarded” | |
| 32|Proxy Statement | | | |
| Corporate Governance | |
| | | Proxy Statement 2024|33 | |
| Corporate Governance | |
| 34|Proxy Statement 2024 | | | |
| Corporate Governance | |
| | | | Baker | | | Bienaimé | | | Brawley | | | Clancy | | | Fouse | | | Harrigan | | | High | | | Schaffert | | |||||||||||||||||||||||||||
Biopharma Industry | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | ✓ | | |
Operational Leadership | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | ✓ | | |
International | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | | | | | ✓ | | |
Drug Discovery, Development & Regulatory | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | |
Commercial | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | | | | | | | | | | | | | ✓ | | | | | | | | | | | | | | | | ✓ | | |
Financial | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | | | | | | | | | | | | | |
Gender | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Male | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | | | | | | | |
Female | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | ✓ | | |
Additional Information | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
PhD/MD | | | | | | | | | | | | | | | | | | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | ✓ | | |
Independence | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | ✓ | |
Expertise | | | Hoppenot | | | Baker | | | Bienaimé | | | Brawley | | | Clancy | | | Fouse | | | Harrigan | | | High | | |||||||||||||||||||||
Biopharma Industry | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | ✓ | |
Operational Leadership | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | ✓ | |
International | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | ✓ | |
Drug Discovery, Development & Regulatory | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | | | | | | | | | | | | | ✓ | | | | ✓ | |
Commercial | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | | | | | | | | | | | | | ✓ | | | | | | | | | | | |
Financial | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | | | | | | |
Additional Information | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
PhD/MD | | | | | | | | | | | | | | | | | | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | ✓ | |
Attendance | | | | | 100% | | | | | | 100% | | | | | | 93% | | | | | | 100% | | | | | | 100% | | | | | | 100% | | | | | | 88% | | | | 100% | |
Independence | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | ✓ | |
| | | Proxy Statement | |
| Corporate Governance | |
| Hoppenot2 | | Baker | | Bienaimé2 | | Brawley | | Clancy | | Fouse2 | | Harrigan | | High | | Hoppenot2 | | Baker | | Bienaimé | | Brawley | | Clancy | | Fouse | | Harrigan | | High | | Schaffert3 | | |||||||||||||||
| 2 | | 3 | | 2 | | 4 | | 4 | | 2 | | 3 | | 2 | | 1 | | 4 | | 3 | | 4 | | 3 | | 2 | | 2 | | 2 | | 2 | |
| 36|Proxy Statement 2024 | | | |
| Corporate Governance | |
| | | Proxy Statement 2024|37 | |
| Corporate Governance | |
| 38|Proxy Statement 2024 | | | |
| Corporate Governance | |
| | | Proxy Statement | |
| 40|Proxy Statement | | | |
| | | Proxy Statement | |
| Executive Compensation | |
| 42|Proxy Statement 2024 | | | |
| Executive Compensation | |
| | | Proxy Statement | |
| Executive Compensation | |
| | | |
| Executive Compensation | |
| | | Proxy Statement 2024|45 | |
| Executive Compensation | |
| 46|Proxy Statement 2024 | | | |
| Executive Compensation | |
| Each year, we conduct stockholder outreach to gather direct feedback on our corporate governance, compensation practices and environmental, social and governance (ESG) practices. Since 2018, we have contacted stockholders who represent the top 80% of our shares outstanding. As a result of our annual stockholder engagement, we have implemented several significant enhancements in our corporate governance, compensation policies, ESG activities and stockholder communication practices. The following changes were made in response to feedback received: | | | ANNUAL OUTREACH TO STOCKHOLDERS: 80% OF SHARES OUTSTANDING | |
Action | | | Year of Implementation | |
Governance | | |||
✓ Adopted a proxy access bylaw | | | 2021 | |
✓ Adopted equity ownership guidelines | | | 2016, amended 2021 | |
✓ Adopted a director overboarding policy | | | 2020 | |
Compensation | | |||
✓ Adjusted the executive compensation pay mix to include higher percentages of performance shares | | | Performance Shares added in 2018; increased % of performance shares in 2020, 2022 and | |
✓ Established a three-year performance period for performance shares award to our CEO and other U.S.-based executive officers | | | 2020 | |
✓ | | | 2019 | |
✓ Eliminated special | | | 2019 | |
✓ Added enhanced disclosure on certain items such as goal achievement | | | 2017 | |
ESG | | |||
✓ Added ESG goals to our Annual Incentive Plan | | | 2022 | |
✓ Disclosed ethnic and racial diversity data for U.S. workforce | | | 2021 | |
✓ Enhanced ESG disclosure | | | 2019 | |
| | | Proxy Statement 2024|47 | |
| Executive Compensation | |
| What We Do | | |||
| ✓ We pay for performance, including having a total stockholder return (TSR) component for | | | ✓ We have a compensation clawback policy | |
| ✓ | | | ✓ Our Compensation Committee uses an independent compensation consultant, Compensia, and considers peer groups in establishing executive compensation | |
| ✓ Performance shares have a three-year performance period | | | ✓ Robust anti-hedging and anti-speculation policies in place | |
| ✓ Robust stock ownership guidelines for our CEO, executive officers and our directors | | | ✓ Our Compensation Committee is comprised of all independent directors | |
| ✓ Double-trigger equity vesting in the event of a change-in-control | | | ✓ We conduct an annual say-on-pay vote | |
| ✓ | | | ✓ We engage proactively with our stockholders throughout the year | |
| ✓ Performance share awards cliff vest after 3 years | | | ✓ We require our executives to plan any stock trading in advance through the use of 10b5-1 plans | |
| 48|Proxy Statement | | | |
| Executive Compensation | |
| What We Don’t Do | | |||
| ✗ We do not reprice stock options | | | ✗ We do not provide golden parachute excise tax gross-ups | |
| ✗ We do not provide single-trigger equity vesting in the event of a change-in-control | | | ✗ We do not provide excessive perquisites for executives | |
| | | Proxy Statement | |
| Executive Compensation | |
| 50|Proxy Statement | | | |
| Executive Compensation | |
| | | Proxy Statement 2024|51 | |
| Executive Compensation | |
Company | | | Total Revenue ($M) | | | Company | | | Total Employees | | | Company | | | Market Cap ($M) | | |||||||||
Gilead | | | | | 27,305 | | | | Gilead | | | | | 14,400 | | | | Gilead | | | | | 91,081 | | |
Regeneron | | | | | 16,072 | | | | Regeneron | | | | | 10,368 | | | | Regeneron | | | | | 67,916 | | |
Biogen | | | | | 10,982 | | | | Biogen | | | | | 9,610 | | | | Vertex | | | | | 55,834 | | |
Vertex | | | | | 7,574 | | | | Vertex | | | | | 3,900 | | | | Biogen | | | | | 35,243 | | |
Jazz | | | | | 3,094 | | | | Jazz | | | | | 3,200 | | | | SeaGen | | | | | 28,270 | | |
Incyte | | | | | 2,986 | | | | BioMarin | | | | | 3,045 | | | | Alnylam | | | | | 20,282 | | |
BioMarin | | | | | 1,846 | | | | SeaGen | | | | | 2,675 | | | | BioMarin | | | | | 16,220 | | |
SeaGen | | | | | 1,574 | | | | Alkermes | | | | | 2,211 | | | | Incyte | | | | | 16,213 | | |
Exelixis | | | | | 1,435 | | | | Incyte | | | | | 2,094 | | | | Neurocrine | | | | | 8,080 | | |
Alkermes | | | | | 1,174 | | | | Alnylam | | | | | 1,665 | | | | Sarepta | | | | | 7,841 | | |
Neurocrine | | | | | 1,134 | | | | Exelixis | | | | | 954 | | | | Jazz | | | | | 7,831 | | |
Alnylam | | | | | 844 | | | | Neurocrine | | | | | 900 | | | | Exelixis | | | | | 5,784 | | |
Ionis | | | | | 810 | | | | Sarepta | | | | | 840 | | | | Ionis | | | | | 4,297 | | |
Sarepta | | | | | 702 | | | | Ionis | | | | | 660 | | | | Alkermes | | | | | 3,761 | | |
Amarin | | | | | 583 | | | | Amarin | | | | | 560 | | | | Sage | | | | | 2,506 | | |
Sage | | | | | 6 | | | | Sage | | | | | 471 | | | | Amarin | | | | | 1,337 | | |
Company | | | Total Revenue ($M) | | | Company | | | Total Employees | | | Company | | | Market Cap ($M) | | |||||||||
BeiGene | | | | | 17,412 | | | | BeiGene | | | | | 10,600 | | | | Biogen | | | | | 37,495 | | |
Biogen | | | | | 9,836 | | | | Biogen | | | | | 7,570 | | | | Alnylam | | | | | 24,021 | | |
Jazz | | | | | 3,834 | | | | BioMarin | | | | | 3,401 | | | | BeiGene | | | | | 19,726 | | |
Incyte | | | | | 3,696 | | | | Jazz | | | | | 2,800 | | | | BioMarin | | | | | 18,163 | | |
BioMarin | | | | | 2,419 | | | | Incyte | | | | | 2,524 | | | | Incyte | | | | | 14,072 | | |
United Therapeutics | | | | | 2,328 | | | | Alkermes | | | | | 2,100 | | | | Neurocrine | | | | | 12,946 | | |
Exelixis | | | | | 1,830 | | | | Alnylam | | | | | 2,100 | | | | United Therapeutics | | | | | 10,333 | | |
Neurocrine | | | | | 1,887 | | | | Exelixis | | | | | 1,310 | | | | Sarepta | | | | | 9,021 | | |
Alkermes | | | | | 1,663 | | | | Neurocrine | | | | | 1,400 | | | | Jazz | | | | | 7,744 | | |
Alnylam | | | | | 1,828 | | | | Sarepta | | | | | 1,314 | | | | Exelixis | | | | | 7,460 | | |
Sarepta | | | | | 1,243 | | | | United Therapeutics | | | | | 1,168 | | | | Ionis | | | | | 7,258 | | |
Ionis | | | | | 788 | | | | Ionis | | | | | 927 | | | | Alkermes | | | | | 4,629 | | |
| 52|Proxy Statement | | | |
| Executive Compensation | |
| | | Proxy Statement 2024|53 | |
| Executive Compensation | |
| Equity Ownership Requirements | | |||
| CEO | | | 6x Annual Base Salary | |
| All Other Executive Officers | | | 3x Annual Base Salary | |
| Non-Employee Members of the Board | | | 6x Annual Cash Retainer | |
| 54|Proxy Statement 2024 | | | |
| Executive Compensation | |
Name | | 2021 Base Salary | | 2022 Increase | | 2022 Base Salary | | | 2023 Base Salary | | 2024 Increase | | 2024 Base Salary | | ||||||||||||||||||||||||
Hervé Hoppenot | | | $ | 1,143,444 | | | | | 8.0% | | | | $ | 1,234,920 | | | | | $ | 1,296,666 | | | | | 4.0% | | | | $ | 1,348,533 | | | ||||||
Christiana Stamoulis | | | $ | 605,640 | | | | | 8.0% | | | | $ | 654,092 | | | | | $ | 686,797 | | | | | 4.0% | | | | $ | 714,269 | | | ||||||
Pablo J. Cagnoni | | | $ | 900,000 | | | | | 4.0% | | | | $ | 936,000 | | | ||||||||||||||||||||||
Steven H. Stein | | | $ | 636,695 | | | | | 18.0% | | | | $ | 751,301 | | | | | $ | 777,597 | | | | | 4.0% | | | | $ | 808,701 | | | ||||||
Barry P. Flannelly | | | $ | 530,882 | | | | | 8.0% | | | | $ | 573,353 | | | | | $ | 602,021 | | | | | 4.0% | | | | $ | 626,102 | | | ||||||
Maria E. Pasquale | | | $ | 546,364 | | | | | 8.0% | | | | $ | 590,074 | | |
| | | Proxy Statement 2024|55 | |
| Executive Compensation | |
| 56|Proxy Statement | | | |
| Executive Compensation | |
Objectives | | | Target % | | | Payout % | |
Discovery ✓ Achieve the requisite number of pre-specified goals to outperform, including 3 IND filings | | | 20 | | | 26.25 | |
Clinical Development | | | 50 | | | 41.25 | |
Hematology and Oncology ✓ Obtain approval in the U.S. for Jakafi in steroid-refractory chronic GVHD ✓ Advance multiple programs within MPNs/GVHD, including once-a-day (QD) ruxolitinib and the initiation of combination trials by a specific time ✓ Advance multiple clinical research and early development programs within other hematology and oncology ✓ Obtain approval in the U.S. for retifanlimab in squamous cell carcinoma of the anal canal ✓ Regulatory submissions for approval for various assets by a specific time ✓ Enhance manufacturing capabilities to support expanding portfolio | | | 40 | | | 30 | |
Inflammation and AutoImmunity (IAI) ✓ Obtain approval in the U.S. for Opzelura in atopic dermatitis ✓ Submit U.S. sNDA for ruxolitinib cream in vitiligo by a specified time ✓ Submit EU MAA for ruxolitinib cream in vitiligo by a specified time ✓ Advance clinical development programs within inflammation and autoimmunity | | | 10 | | | 11.25 | |
Development Bonus Opportunities ✓ Obtain approval in Europe or Japan for pemigatinib in cholangiocarcinoma or biliary tract carcinoma, respectively ✓ File parsaclisib in NHL for approval in Europe or Japan ✓ Obtain approval in Europe for tafasitamab in r/r DLBCL | | | | | | 15 | |
Global Commercial ✓ Achieve net product sales targets ✓ Successful U.S. launch of Opzelura in atopic dermatitis | | | 30 | | | 29 | |
Business Development Bonus ✓ Bring in complementary and/or supplemental assets with the potential to provide near to mid-term sales revenues and meaningful revenue growth in the 2025+ timeframe or a clinical stage asset that advances the LIMBER initiative | | | | | | 5 | |
Total | | | 100 | | | 101.5 | |
Objectives | | | Target % | | | Payout % | |
Discovery ✓ Achieve the requisite number of pre-specified goals, including 4 IND filings | | | 20 | | | 30 | |
Clinical Development ✗ Achieve enrollment thresholds in LIMBER clinical trials by specified times ✗ Receive FDA approval for ruxolitinib XR by a specified time ✓ Achieve a subset of predevelopment goals ✓ Achieve various enrollment thresholds for various assets by a specified time ✓ Submit U.S. BLA for Axatilimab in 3L+ cGVHD | | | 35 | | | 26.25 | |
Development Bonus Opportunities ✓ Obtain MAA for Opzelura in vitiligo by end of Q2 ✓ Achieve specified percentage of site initiation visits for povorcitinib Phase 3 trial | | | | | | 10 | |
Global Commercial ✓ Met various subsets of US and ex-US net product sales targets | | | 42 | | | 38.25 | |
ESG ✓ Develop global emission reduction and mitigation plan to achieve corporate operational neutrality goal by 2025 ✓ At least 75% of open positions in U.S. have at least 1 diverse applicant ✓ At least 15% of global employees participate in community volunteer activities | | | 3 | | | 4.5 | |
Total | | | 100 | | | 109 | |
| | | Proxy Statement | |
| Executive Compensation | |
Name | | Year-End Salary (A) x | | Target Bonus (B) x | | Overall Multiplier (C) = | | Bonus Award (D) | | | Year-End Salary (A) x | | Target Bonus (B) x | | Overall Multiplier (C) = | | Bonus Award (D) | | ||||||||||||||||||||||||||||||||
Hervé Hoppenot | | | $ | 1,143,444 | | | | | 100% | | | | | 101.5% | | | | $ | 1,160,596 | | | | | $ | 1,296,666 | | | | | 110.0% | | | | | 109.0% | | | | $ | 1,554,703 | | | ||||||||
Christiana Stamoulis | | | $ | 605,640 | | | | | 50% | | | | | 101.5% | | | | $ | 307,363 | | | | | $ | 686,797 | | | | | 60.0% | | | | | 109.0% | | | | $ | 449,166 | | | ||||||||
Pablo J. Cagnoni | | | $ | 900,000 | | | | | 75.0% | | | | | 109.0% | | | | $ | 735,750 | | | |||||||||||||||||||||||||||||
Steven H. Stein | | | $ | 636,695 | | | | | 50% | | | | | 101.5% | | | | $ | 323,123 | | | | | $ | 777,597 | | | | | 60.0% | | | | | 109.0% | | | | $ | 508,549 | | | ||||||||
Barry P. Flannelly | | | $ | 530,882 | | | | | 50% | | | | | 101.5% | | | | $ | 269,423 | | | | | $ | 602,021 | | | | | 55.0% | | | | | 109.0% | | | | $ | 360,912 | | | ||||||||
Maria E. Pasquale | | | $ | 546,364 | | | | | 50% | | | | | 101.5% | | | | $ | 277,280 | | |
| 58|Proxy Statement 2024 | | | |
| Executive Compensation | |
| | | Proxy Statement 2024|59 | |
| Executive Compensation | |
| 60|Proxy Statement 2024 | | | |
| Executive Compensation | |
| | | Proxy Statement 2024|61 | |
| Executive Compensation | |
| 62|Proxy Statement 2024 | | | |
| Executive Compensation | |
| Compensation Committee Jean Jacques Bienaimé (Chair) Julian C. Baker Paul J. Clancy Susanne Schaffert | |
SUMMARY COMPENSATION TABLE | | ||||||||||||||||||||||||||||||||||||||||||||||||
Name and Principal Position | | | Year | | | Salary ($) | | | Bonus ($) | | | Stock Awards ($)(1) | | | Option Awards ($)(1) | | | Non-Equity Incentive Plan Compensation ($)(2) | | | All Other Compensation ($)(3) | | | Total ($) | | ||||||||||||||||||||||||
Hervé Hoppenot President and Chief Executive Officer | | | | | 2021 | | | | | | 1,139,709 | | | | | | — | | | | | | 7,399,170 | | | | | | 4,689,466 | | | | | | 1,160,596 | | | | | | 55,324 | | | | | | 14,444,265 | | |
| | | 2020 | | | | | | 1,094,731 | | | | | | — | | | | | | 8,317,223 | | | | | | 5,515,024 | | | | | | 1,403,468 | | | | | | 47,746 | | | | | | 16,378,192 | | | ||
| | | 2019 | | | | | | 1,044,376 | | | | | | — | | | | | | 6,740,953 | | | | | | 5,937,070 | | | | | | 1,382,183 | | | | | | 46,656 | | | | | | 15,151,238 | | | ||
Christiana Stamoulis Executive Vice President and Chief Financial Officer | | | | | 2021 | | | | | | 604,142 | | | | | | — | | | | | | 3,338,400 | | | | | | 816,686 | | | | | | 307,363 | | | | | | 55,970 | | | | | | 5,122,561 | | |
| | | 2020 | | | | | | 585,468 | | | | | | — | | | | | | 1,743,359 | | | | | | 1,421,498 | | | | | | 375,321 | | | | | | 28,604 | | | | | | 4,154,250 | | | ||
| | | 2019 | | | | | | 497,096 | | | | | | 280,000(4) | | | | | | 824,960 | | | | | | 2,474,685 | | | | | | 369,600 | | | | | | 49,327 | | | | | | 4,495,668 | | | ||
Steven H. Stein Executive Vice President and Chief Medical Officer | | | | | 2021 | | | | | | 631,779 | | | | | | — | | | | | | 5,364,157 | | | | | | 816,686 | | | | | | 323,123 | | | | | | 28,940 | | | | | | 7,164,685 | | |
| | | 2020 | | | | | | 576,321 | | | | | | — | | | | | | 1,418,393 | | | | | | 940,557 | | | | | | 369,457 | | | | | | 22,022 | | | | | | 3,326,750 | | | ||
| | | 2019 | | | | | | 549,812 | | | | | | — | | | | | | 4,868,505 | | | | | | 1,235,249 | | | | | | 363,825 | | | | | | 24,093 | | | | | | 7,041,484 | | | ||
Barry P. Flannelly Executive Vice President and General Manager—NA | | | | | 2021 | | | | | | 526,783 | | | | | | — | | | | | | 2,945,522 | | | | | | 816,686 | | | | | | 269,423 | | | | | | 46,644 | | | | | | 4,605,058 | | |
| | | 2020 | | | | | | 480,542 | | | | | | — | | | | | | 2,342,694 | | | | | | 940,557 | | | | | | 308,057 | | | | | | 45,034 | | | | | | 4,116,884 | | | ||
| | | 2019 | | | | | | 458,438 | | | | | | — | | | | | | 1,149,505 | | | | | | 3,490,293 | | | | | | 303,361 | | | | | | 41,345 | | | | | | 5,442,942 | | | ||
Maria E. Pasquale Executive Vice President, General Counsel and Corporate Secretary | | | | | 2021 | | | | | | 545,012 | | | | | | — | | | | | | 2,294,968 | | | | | | 816,686 | | | | | | 277,280 | | | | | | 45,305 | | | | | | 3,979,251 | | |
| | | 2020 | | | | | | 529,053 | | | | | | — | | | | | | 1,418,393 | | | | | | 940,557 | | | | | | 338,587 | | | | | | 44,381 | | | | | | 3,270,971 | | | ||
| | | 2019 | | | | | | 514,178 | | | | | | — | | | | | | 1,149,505 | | | | | | 1,235,249 | | | | | | 339,900 | | | | | | 20,806 | | | | | | 3,259,638 | | | ||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Proxy Statement 2024|63 | |
| Executive Compensation | |
SUMMARY COMPENSATION TABLE | | ||||||||||||||||||||||||||||||||||||||||||||||||
Name and Principal Position | | | Year | | | Salary ($) | | | Bonus ($) | | | Stock Awards ($)(1) | | | Option Awards ($)(1) | | | Non-Equity Incentive Plan Compensation ($)(2) | | | All Other Compensation ($)(3) | | | Total ($) | | ||||||||||||||||||||||||
Hervé Hoppenot President and Chief Executive Officer | | | | | 2023 | | | | | | 1,291,929 | | | | | | — | | | | | | 9,334,654 | | | | | | 4,425,053 | | | | | | 1,554,703 | | | | | | 53,187 | | | | | | 16,659,526 | | |
| | | 2022 | | | | | | 1,227,151 | | | | | | — | | | | | | 9,387,662 | | | | | | 4,395,487 | | | | | | 1,602,926 | | | | | | 56,142 | | | | | | 16,669,368 | | | ||
| | | 2021 | | | | | | 1,139,709 | | | | | | — | | | | | | 7,399,170 | | | | | | 4,689,466 | | | | | | 1,160,596 | | | | | | 55,324 | | | | | | 14,444,265 | | | ||
Christiana Stamoulis Executive Vice President and Chief Financial Officer | | | | | 2023 | | | | | | 684,288 | | | | | | — | | | | | | 2,647,095 | | | | | | 1,254,863 | | | | | | 449,166 | | | | | | 49,073 | | | | | | 5,084,485 | | |
| | | 2022 | | | | | | 649,977 | | | | | | — | | | | | | 3,731,890 | | | | | | 1,020,621 | | | | | | 463,098 | | | | | | 48,175 | | | | | | 5,913,761 | | | ||
| | | 2021 | | | | | | 604,142 | | | | | | — | | | | | | 3,338,400 | | | | | | 816,686 | | | | | | 307,363 | | | | | | 55,970 | | | | | | 5,122,561 | | | ||
Pablo J. Cagnoni(4) President, Research and Development | | | | | 2023 | | | | | | 517,808 | | | | | | 737,362(5) | | | | | | 14,089,823 | | | | | | 450,377 | | | | | | 735,750 | | | | | | 39,183 | | | | | | 16,570,303 | | |
Steven H. Stein Executive Vice President and Chief Medical Officer | | | | | 2023 | | | | | | 775,580 | | | | | | — | | | | | | 2,925,757 | | | | | | 1,386,951 | | | | | | 508,549 | | | | | | 31,256 | | | | | | 5,628,093 | | |
| | | 2022 | | | | | | 741,567 | | | | | | — | | | | | | 5,081,951 | | | | | | 1,088,314 | | | | | | 450,781 | | | | | | 30,136 | | | | | | 7,392,749 | | | ||
| | | 2021 | | | | | | 631,779 | | | | | | — | | | | | | 5,364,157 | | | | | | 816,686 | | | | | | 323,123 | | | | | | 28,940 | | | | | | 7,164,685 | | | ||
Barry P. Flannelly Executive Vice President and General Manager—NA | | | | | 2023 | | | | | | 599,822 | | | | | | — | | | | | | 2,089,835 | | | | | | 990,680 | | | | | | 360,912 | | | | | | 50,689 | | | | | | 4,091,938 | | |
| | | 2022 | | | | | | 569,746 | | | | | | — | | | | | | 2,743,507 | | | | | | 885,206 | | | | | | 372,107 | | | | | | 54,430 | | | | | | 4,624,996 | | | ||
| | | 2021 | | | | | | 526,783 | | | | | | — | | | | | | 2,945,522 | | | | | | 816,686 | | | | | | 269,423 | | | | | | 46,644 | | | | | | 4,605,058 | | |
Name | | | Year | | | Life Insurance Premiums ($)(a) | | | Financial Planning Services ($)(b) | | | Statutory Fee for Serving as Director of EU Subsidiary ($) | | | Travel Reimbursement ($)(b)(c) | | ||||||||||||
Hervé Hoppenot | | | | | 2021 | | | | | | 7,524 | | | | | | 27,752(12,752) | | | | | | 4,400 | | | | — | |
| | | 2020 | | | | | | 7,730 | | | | | | 21,723(6,723) | | | | | | 2,200 | | | | — | | ||
| | | 2019 | | | | | | 5,125 | | | | | | 21,643(6,643) | | | | | | 4,400 | | | | — | | ||
Christiana Stamoulis | | | | | 2021 | | | | | | 2,622 | | | | | | 15,424(4,774) | | | | | | — | | | | 20,524 (6,352) | |
| | | 2020 | | | | | | 2,321 | | | | | | 4,055(1,255) | | | | | | — | | | | 5,128 (1,536) | | ||
| | | 2019 | | | | | | 811 | | | | | | 10,883(3,321) | | | | | | — | | | | 21,133 (6,239) | | ||
Steven H. Stein | | | | | 2021 | | | | | | 4,902 | | | | | | 2,238(693) | | | | | | 4,400 | | | | — | |
| | | 2020 | | | | | | 2,315 | | | | | | 2,607(807) | | | | | | 2,200 | | | | — | | ||
| | | 2019 | | | | | | 1,377 | | | | | | 1,816(521) | | | | | | 4,400 | | | | — | | ||
Barry P. Flannelly | | | | | 2021 | | | | | | 7,502 | | | | | | 21,742(6,742) | | | | | | — | | | | — | |
| | | 2020 | | | | | | 6,192 | | | | | | 21,742(6,742) | | | | | | — | | | | — | | ||
| | | 2019 | | | | | | 3,226 | | | | | | 21,619(6,619) | | | | | | — | | | | — | | ||
Maria E. Pasquale | | | | | 2021 | | | | | | 4,902 | | | | | | 23,003(8,003) | | | | | | — | | | | — | |
| | | 2020 | | | | | | 4,267 | | | | | | 23,014(8,014) | | | | | | — | | | | — | | ||
| | | 2019 | | | | | | 1,278 | | | | | | 3,028(1,003) | | | | | | — | | | | — | |
Name | | | Year | | | Life Insurance Premiums ($) | | | Financial Planning Services ($)(a) | | | Statutory Fee for Serving as Director of EU Subsidiary ($) | | | Travel Reimbursement ($)(a)(b) | | ||||||||||||
Hervé Hoppenot | | | | | 2023 | | | | | | 7,524 | | | | | | 22,948(7,948) | | | | | | 4,400 | | | | — | |
| | | 2022 | | | | | | 7,524 | | | | | | 27,752(12,752) | | | | | | 4,400 | | | | — | | ||
| | | 2021 | | | | | | 7,524 | | | | | | 27,752(12,752) | | | | | | 4,400 | | | | — | | ||
Christiana Stamoulis | | | | | 2023 | | | | | | 2,622 | | | | | | 8,327(2,577) | | | | | | — | | | | 18,324 (5,656) | |
| | | 2022 | | | | | | 2,622 | | | | | | 6,064(1,877) | | | | | | — | | | | 21,189 (6,558) | | ||
| | | 2021 | | | | | | 2,622 | | | | | | 15,424(4,774) | | | | | | — | | | | 20,524 (6,352) | | ||
Pablo J. Cagnoni | | | | | 2023 | | | | | | 4,305 | | | | | | 4,366(1,366) | | | | | | — | | | | 13,711 (4,290) | |
Steven H. Stein | | | | | 2023 | | | | | | 4,902 | | | | | | 2,154(667) | | | | | | 4,400 | | | | — | |
| | | 2022 | | | | | | 4,902 | | | | | | 2,534(784) | | | | | | 4,400 | | | | — | | ||
| | | 2021 | | | | | | 4,902 | | | | | | 2,238(693) | | | | | | 4,400 | | | | — | | ||
Barry P. Flannelly | | | | | 2023 | | | | | | 9,144 | | | | | | 21,745(6,745) | | | | | | — | | | | — | |
| | | 2022 | | | | | | 14,388 | | | | | | 21,742(6,742) | | | | | | — | | | | — | | ||
| | | 2021 | | | | | | 7,502 | | | | | | 21,742(6,742) | | | | | | — | | | | — | |
| 64|Proxy Statement | | | |
| Executive Compensation | |
Name | | Grant Date | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards(1)(2) | | Estimated Future Payouts Equity Incentive Plan Awards Shares(3) | | | All Other Stock Awards: Number of Shares of Stocks or Units (#)(5) | | All Other Option Awards: Number of Securities Underlying Options (#) | | Exercise or Base Price of Option Awards ($/Sh) | | Grant Date Fair Value of Stock and Option Awards ($)(8) | | | Grant Date | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards(1)(2) | | | Estimated Future Payouts Equity Incentive Plan Awards Shares(3) | | | All Other Stock Awards: Number of Shares of Stocks or Units | | All Other Option Awards: Number of Securities Underlying Options (#) | | Exercise or Base Price of Option Awards ($/Sh) | | Grant Date Fair Value of Stock and Option Awards ($)(8) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Threshold ($) | | Target ($) | | Maximum ($) | | Threshold (#) | | Target (#) | | Maximum (#) | | | Threshold ($) | | Target ($) | | Maximum ($) | | Threshold (#) | | Target (#) | | Maximum (#) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hervé Hoppenot | | | | | | | | | | 857,583 | | | | | 1,143,444 | | | | | 2,344,060 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,048,354 | | | | | 1,426,333 | | | | | 2,881,192 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| | | 01/15/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 74,720(6) | | | | | 90.56 | | | | | 2,228,195 | | | | | | 01/20/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 86,449(6) | | | | | 83.20 | | | | | 2,413,361 | | | |||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 84,851(7) | | | | | 83.58 | | | | | 2,461,271 | | | | | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 90,563(7) | | | | | 61.76 | | | | | 2,011,692 | | | |||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | 33,198 | | | | | 44,264 | | | | | 66,396(3) | | | | | | | | | | | | | | | 83.58 | | | | | 3,699,585 | | | | | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | 80,970 | | | | | 107,960 | | | | | 161,940 | | | | | | | | | | | | | | | 61.76 | | | | | 6,667,610 | | | |||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 44,264 | | | | | | | | | | 83.58 | | | | | 3,699,585 | | | | | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 43,184(5) | | | | | | | | | | 61.76 | | | | | 2,667,044 | | | |||||||||||||||||||||||
Christiana Stamoulis | | | | | | | | | | 227,115 | | | | | 302,820 | | | | | 620,781 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 302,877 | | | | | 412,078 | | | | | 832,398 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| | | 01/15/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,522 | | | | | | | | | | 90.56 | | | | | 1,043,432 | | | | | | 01/20/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 24,515(6) | | | | | 83.20 | | | | | 684,381 | | | |||||||||||||||||||||||
| | | 01/15/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,743(6) | | | | | 90.56 | | | | | 380,009 | | | | | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 25,682(7) | | | | | 61.76 | | | | | 570,482 | | | |||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 15,054(7) | | | | | 83.58 | | | | | 436,676 | | | | | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | 22,961 | | | | | 30,615 | | | | | 45,923 | | | | | | | | | | | | | | | 61.76 | | | | | 1,890,782 | | | |||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | 5,890 | | | | | 7,853 | | | | | 11,780(3) | | | | | | | | | | | | | | | 83.58 | | | | | 656,354 | | | | | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,246(5) | | | | | | | | | | 61.76 | | | | | 756,313 | | | |||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,853 | | | | | | | | | | 83.58 | | | | | 656,354 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 12/01/2021 | | | | | | | | | | | | | | | | | | | | 7,561 | | | | | 15,121 | | | | | 22,682(4) | | | | | | | | | | | | | | | 64.96 | | | | | 982,260 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Steven H. Stein | | | | | | | | | | 238,761 | | | | | 318,348 | | | | | 652,612 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 01/15/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 23,044 | | | | | | | | | | 90.56 | | | | | 2,086,865 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | 496,125 | | | | | 675,000 | | | | | 1,363,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 06/05/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 192,400(4) | | | | | | | | | | 62.37 | | | | | 11,999,988 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 20,275(7) | | | | | 61.76 | | | | | 450,377 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | 18,128 | | | | | 24,170 | | | | | 36,255 | | | | | | | | | | | | | | | 61.76 | | | | | 1,492,739 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,668(5) | | | | | | | | | | 61.76 | | | | | 597,096 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Steven H. Stein | | | | | 01/15/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,743(6) | | | | | 90.56 | | | | | 380,009 | | | | | | | | | | | | 342,920 | | | | | 466,558 | | | | | 942,448 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 15,054(7) | | | | | 83.58 | | | | | 436,676 | | | | | | 01/20/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 27,096(6) | | | | | 83.20 | | | | | 756,428 | | | |||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | 5,890 | | | | | 7,853 | | | | | 11,780(3) | | | | | | | | | | | | | | | 83.58 | | | | | 656,354 | | | | | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 28,385(7) | | | | | 61.76 | | | | | 630,523 | | | |||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,853 | | | | | | | | | | 83.58 | | | | | 656,354 | | | | | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | 25,379 | | | | | 33,838 | | | | | 50,757 | | | | | | | | | | | | | | | 61.76 | | | | | 2,089,835 | | | |||||||||||||||||||||||
| | | 12/01/2021 | | | | | | | | | | | | | | | | | | | | 15,122 | | | | | 30,243 | | | | | 45,365(4) | | | | | | | | | | | | | | | 64.96 | | | | | 1,964,585 | | | | | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 13,535(5) | | | | | | | | | | 61.76 | | | | | 835,922 | | | |||||||||||||||||||||||
| | | | | | | | 199,081 | | | | | 265,441 | | | | | 544,154 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 243,367 | | | | | 331,112 | | | | | 668,845 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||
| | | 01/15/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,522 | | | | | | | | | | 90.56 | | | | | 1,043,432 | | | | | | 01/20/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 19,354(6) | | | | | 83.20 | | | | | 540,303 | | | |||||||||||||||||||||||
Barry P. Flannelly | | | | | 01/15/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,743(6) | | | | | 90.56 | | | | | 380,009 | | | | | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 20,275(7) | | | | | 61.76 | | | | | 450,377 | | | |||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 15,054(7) | | | | | 83.58 | | | | | 436,676 | | | | | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | 18,128 | | | | | 24,170 | | | | | 36,255 | | | | | | | | | | | | | | | 61.76 | | | | | 1,492,739 | | | |||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | 5,890 | | | | | 7,853 | | | | | 11,780(3) | | | | | | | | | | | | | | | 83.58 | | | | | 656,354 | | | | | | 07/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,668(5) | | | | | | | | | | 61.76 | | | | | 597,096 | | | |||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,853 | | | | | | | | | | 83.58 | | | | | 656,354 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 12/01/2021 | | | | | | | | | | | | | | | | | | | | 4,537 | | | | | 9,073 | | | | | 13,610(4) | | | | | | | | | | | | | | | 64.96 | | | | | 589,382 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | 204,887 | | | | | 273,182 | | | | | 560,023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 01/15/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,743(6) | | | | | 90.56 | | | | | 380,009 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maria E. Pasquale | | | | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 15,054(7) | | | | | 83.58 | | | | | 436,676 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | 5,890 | | | | | 7,853 | | | | | 11,780(3) | | | | | | | | | | | | | | | 83.58 | | | | | 656,354 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,853 | | | | | | | | | | 83.58 | | | | | 656,354 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 12/01/2021 | | | | | | | | | | | | | | | | | | | | 7,561 | | | | | 15,121 | | | | | 22,682(4) | | | | | | | | | | | | | | | 64.96 | | | | | 982,260 | | |
| | | Proxy Statement 2024|65 | |
| Executive Compensation | |
| 66|Proxy Statement 2024 | | | |
| Executive Compensation | |
| | | Proxy Statement 2024|67 | |
| Executive Compensation | |
| 68|Proxy Statement 2024 | | | |
| Executive Compensation | |
Termination | | Cash Payment ($) | | Medical/ Insurance Benefits ($) | | Acceleration of Equity Awards ($)(1) | | Other ($)(2) | | Total ($) | | | Cash Payment ($) | | Medical/ Insurance Benefits ($) | | Acceleration of Equity Awards ($)(1) | | Other ($)(2) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||
Hervé Hoppenot Termination without cause or constructive termination Death or Disability | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
| | | 4,919,833 | | | | | 19,422 | | | | | 3,458,233 | | | | | 364,447 | | | | | 8,761,935 | | | | | | 5,707,800 | | | | | 20,479 | | | | | 6,498,862 | | | | | 561,186 | | | | | 12,788,327 | | | |||||||||||
| | ��� | — | | | | | — | | | | | 2,994,163 | | | | | 314,447 | | | | | 3,308,610 | | | | | | — | | | | | — | | | | | 8,229,367 | | | | | 511,186 | | | | | 8,740,553 | | | |||||||||||
Christiana Stamoulis Termination without cause or constructive termination Death or Disability | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
| | | 908,460 | | | | | 12,490 | | | | | 518,055 | | | | | 46,588 | | | | | 1,485,593 | | | | | | 1,098,875 | | | | | 13,581 | | | | | 1,967,960 | | | | | 58,114 | | | | | 3,138,530 | | | |||||||||||
| | | — | | | | | — | | | | | 518,055 | | | | | 46,588 | | | | | 564,643 | | | | | | — | | | | | — | | | | | 1,967,960 | | | | | 58,114 | | | | | 2,026,074 | | | |||||||||||
Steven Stein Termination without cause or constructive termination Death or Disability | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||
| | | — | | | | | — | | | | | 518,055 | | | | | 61,221 | | | | | 579,276 | | | |||||||||||||||||||||||||||||||||||||
| | | — | | | | | — | | | | | 518,055 | | | | | 61,221 | | | | | 579,276 | | | |||||||||||||||||||||||||||||||||||||
Pablo J. Cagnoni Termination without cause or constructive termination Death or Disability | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||
| | | — | | | | | — | | | | | 3,310,987 | | | | | 51,923 | | | | | 3,362,910 | | | |||||||||||||||||||||||||||||||||||||
| | | — | | | | | — | | | | | 3,310,987 | | | | | 51,923 | | | | | 3,362,910 | | | |||||||||||||||||||||||||||||||||||||
Steven H. Stein Termination without cause or constructive termination Death or Disability | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||
| | | — | | | | | — | | | | | 2,110,802 | | | | | 74,769 | | | | | 2,185,571 | | | |||||||||||||||||||||||||||||||||||||
| | | — | | | | | — | | | | | 2,110,802 | | | | | 74,769 | | | | | 2,185,571 | | | |||||||||||||||||||||||||||||||||||||
Barry Flannelly Termination without cause or constructive termination Death or Disability | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
| | | — | | | | | — | | | | | 518,055 | | | | | 51,046 | | | | | 569,101 | | | | | | — | | | | | — | | | | | 1,682,296 | | | | | 57,887 | | | | | 1,740,183 | | | |||||||||||
| | | — | | | | | — | | | | | 518,055 | | | | | 51,046 | | | | | 569,101 | | | | | | — | | | | | — | | | | | 1,682,296 | | | | | 57,887 | | | | | 1,740,183 | | | |||||||||||
Maria E. Pasquale Termination without cause or constructive termination Death or Disability | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||
| | | — | | | | | — | | | | | 518,055 | | | | | 15,761 | | | | | 533,816 | | | |||||||||||||||||||||||||||||||||||||
| | | — | | | | | — | | | | | 518,055 | | | | | 15,761 | | | | | 533,816 | | |
| | | Proxy Statement | |
| Executive Compensation | |
Termination | | Cash Payment ($) | | Medical/ Insurance Benefits ($) | | Acceleration of Equity Awards ($)(1) | | Other ($)(2) | | Total ($) | | | Cash Payment ($) | | Medical/ Insurance Benefits ($) | | Acceleration of Equity Awards ($)(1) | | Other ($)(2) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||
Hervé Hoppenot Termination without cause or for good reason(3) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
| | | 8,740,201 | | | | | 68,570 | | | | | 14,912,523 | | | | | 364,447 | | | | | 24,085,741 | | | | | | 10,057,188 | | | | | 73,658 | | | | | 21,671,377 | | | | | 561,186 | | | | | 32,363,409 | | | |||||||||||
Christiana Stamoulis Termination without cause or for good reason(3) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
| | | 2,264,742 | | | | | 12,490 | | | | | 4,576,490 | | | | | 46,588 | | | | | 6,900,310 | | | | | | 2,711,868 | | | | | 13,581 | | | | | 8,211,066 | | | | | 58,114 | | | | | 10,994,629 | | | |||||||||||
Pablo J. Cagnoni Termination without cause or for good reason(3) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||
| | | 3,825,000 | | | | | 40,183 | | | | | 14,226,367 | | | | | 51,923 | | | | | 18,143,473 | | | |||||||||||||||||||||||||||||||||||||
Steven H. Stein Termination without cause or for good reason(3) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
| | | 2,330,652 | | | | | 36,869 | | | | | 10,209,015 | | | | | 61,221 | | | | | 12,637,757 | | | | | | 2,954,868 | | | | | 41,043 | | | | | 11,209,498 | | | | | 74,769 | | | | | 14,280,178 | | | |||||||||||
Barry P. Flannelly Termination without cause or for good reason(3) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
| | | 1,943,319 | | | | | 35,980 | | | | | 5,053,510 | | | | | 51,046 | | | | | 7,083,855 | | | | | | 2,279,368 | | | | | 38,025 | | | | | 7,153,451 | | | | | 57,887 | | | | | 9,528,731 | | | |||||||||||
Maria E. Pasquale Termination without cause or for good reason(3) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||
| | | 2,043,084 | | | | | 35,985 | | | | | 3,874,011 | | | | | 15,761 | | | | | 5,968,841 | | |
| 70|Proxy Statement | | | |
| Executive Compensation | |
| | | | | | | Option Awards | | Stock Awards | | | | | | | | Option Awards | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | | Grant Date | | Number of Securities Underlying Unexercised Options (#) Exercisable (1) | | Number of Securities Underlying Unexercised Options (#) Un-Exercisable | | Option Exercise Price ($) | | Option Expiration Date | | Number of Shares or Units of Stock That Have Not Vested (#) | | Market Value of Shares or Units of Stock That Have Not Vested ($)(2) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) | | | Grant Date | | Number of Securities Underlying Unexercised Options (#) Exercisable (1) | | Number of Securities Underlying Unexercised Options (#) Un-Exercisable | | Option Exercise Price ($) | | Option Expiration Date | | Number of Shares or Units of Stock That Have Not Vested (#) | | Market Value of Shares or Units of Stock That Have Not Vested ($)(2) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hervé Hoppenot | | | | | **01/07/2016 | | | | | 20,195 | | | | | — | | | | | 95.76 | | | | | 01/06/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | | 1/7/2016 | | | | | 20,195 | | | | | — | | | | | 95.76 | | | | | 01/06/2023 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||
| | | 01/07/2016 | | | | | 75,138 | | | | | — | | | | | 95.76 | | | | | 01/06/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | *7/15/2016 | | | | | 74,245 | | | | | — | | | | | 83.83 | | | | | 07/14/2026 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | *07/15/2016 | | | | | 74,245 | | | | | — | | | | | 83.83 | | | | | 07/14/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | ***1/17/2017 | | | | | 74,245 | | | | | — | | | | | 113.64 | | | | | 01/16/2027 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | ***01/17/2017 | | | | | 74,245 | | | | | — | | | | | 113.64 | | | | | 01/16/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | **1/17/2017 | | | | | 94,325 | | | | | — | | | | | 113.64 | | | | | 01/16/2027 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | **01/17/2017 | | | | | 94,325 | | | | | — | | | | | 113.64 | | | | | 01/16/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | *7/5/2017 | | | | | 47,168 | | | | | — | | | | | 128.34 | | | | | 07/04/2027 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | *07/05/2017 | | | | | 47,168 | | | | | — | | | | | 128.34 | | | | | 07/04/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | ***1/23/2018 | | | | | 47,168 | | | | | — | | | | | 94.63 | | | | | 01/22/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | ***01/23/2018 | | | | | 47,168 | | | | | — | | | | | 94.63 | | | | | 01/22/2028 | | | | | | | | | | | | | | | | | | | | | | | | | | **1/24/2018 | | | | | 25,401 | | | | | — | | | | | 95.34 | | | | | 01/23/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | **01/24/2018 | | | | | — | | | | | 25,401 | | | | | 95.34 | | | | | 01/23/2028 | | | | | | | | | | | | | | | | | | | | | | | | | | *7/2/2018 | | | | | 88,557 | | | | | — | | | | | 68.62 | | | | | 07/01/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | *07/02/2018 | | | | | 75,642 | | | | | 12,915 | | | | | 68.62 | | | | | 07/01/2028 | | | | | | | | | | | | | | | | | | | | | | | | | | ***1/4/2019 | | | | | 88,558 | | | | | — | | | | | 72.27 | | | | | 01/03/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2018 | | | | | | | | | | | | | | | | | | | | | | | | | 5,242(4) | | | | | 384,763 | | | | | | | | | | | | | | | | *7/2/2019 | | | | | 96,327 | | | | | — | | | | | 85.01 | | | | | 07/01/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | ***01/04/2019 | | | | | 75,643 | | | | | 12,915 | | | | | 72.27 | | | | | 01/03/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | ***1/17/2020 | | | | | 96,328 | | | | | — | | | | | 80.50 | | | | | 01/16/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2019 | | | | | | | | | | | | | | | | | | | | | | | | | 19,824(3) | | | | | 1,455,082 | | | | | | | | | | | | | | | | 7/2/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 9,765(3) | | | | | 613,144 | | | | | | | | | | | | | |||||||||||||||||||
| | | *07/02/2019 | | | | | 58,197 | | | | | 38,130 | | | | | 85.01 | | | | | 07/01/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | *7/2/2020 | | | | | 63,823 | | | | | 10,897 | | | | | 106.47 | | | | | 07/01/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2019 | | | | | | | | | | | | | | | | | | | | | | | | | 20,180(4) | | | | | 1,481,212 | | | | | | | | | | | | | | | | ***1/15/2021 | | | | | 63,823 | | | | | 10,897 | | | | | 90.56 | | | | | 01/14/2031 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | ***01/17/2020 | | | | | 58,198 | | | | | 38,130 | | | | | 80.50 | | | | | 01/16/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | 7/2/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 22,132(3) | | | | | 1,389,668 | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 29,295(3) | | | | | 2,150,253 | | | | | | | | | | | | | | | | 7/2/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 54,856(5) | | | | | 3,444,408 | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 9,452(5) | | | | | 693,777 | | | | | 29,607(6) | | | | | 2,173,154(8) | | | | | | *7/2/2021 | | | | | 51,623 | | | | | 33,588 | | | | | 83.58 | | | | | 07/01/2031 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | *07/02/2020 | | | | | 26,463 | | | | | 48,257 | | | | | 106.47 | | | | | 07/01/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | 1/19/2022 | | | | | 51,264 | | | | | 33,588 | | | | | 74.78 | | | | | 01/18/2032 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | ***01/15/2021 | | | | | 26,463 | | | | | 48,257 | | | | | 90.56 | | | | | 01/14/2031 | | | | | | | | | | | | | | | | | | | | | | | | | | 7/2/2022 | | | | | | | | | | | | | | | | | | | | | | | | | 45,325(3) | | | | | 2,845,957 | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 13,279(5) | | | | | 974,679 | | | | | 30,985(7) | | | | | 2,274,299(8) | | | | | | 7/2/2022 | | | | | 29,000 | | | | | 52,885 | | | | | 77.67 | | | | | 07/01/2032 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 44,264(3) | | | | | 3,248,978 | | | | | | | | | | | | | | | | 7/2/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 60,433(11) | | | | | 3,794,588(7) | | | |||||||||||||||||||
| | | *07/02/2021 | | | | | | — | | | | | 84,851 | | | | | 83.58 | | | | | 07/01/2031 | | | | | | | | | | | | | | | | | | | | | | | | | | 1/20/2023 | | | | | 30,617 | | | | | 55,832 | | | | | 83.20 | | | | | 01/19/2033 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | | | | 753,090 | | | | | 308,856 | | | | | | | | | | | | | | | 141,536 | | | | | 10,388,744 | | | | | 60,592 | | | | | 4,447,453 | | | | | | 7/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | 43,184(3) | | | | | 2,711,523 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 7/14/2023 | | | | | — | | | | | 90,563 | | | | | 61.76 | | | | | 07/13/2033 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hervé Hoppenot | | | | 7/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 107,960(6) | | | | | 6,778,808(7) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | 1,042,667 | | | | | 288,250 | | | | | | | | | | | | | | | 175,262 | | | | | 11,004,700 | | | | | 168,393 | | | | | 10,573,396 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 02/11/2019 | | | | | | | | | | | | | | | | | | | | | | | | | 5,143(3) | | | | | 377,496 | | | | | | | | | | | | | | | | | *2/11/2019 | | | | | 72,809 | | | | | — | | | | | 80.21 | | | | | 02/11/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||
| | | *02/11/2019 | | | | | 51,572 | | | | | 21,237 | | | | | 80.21 | | | | | 02/11/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | 2/11/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 1,067(3) | | | | | 66,997 | | | | | | | | | | | | | |||||||||||||||||||
| | | 02/11/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 3,201(3) | | | | | 234,953 | | | | | | | | | | | | | | | | *2/11/2020 | | | | | 32,813 | | | | | 1,427 | | | | | 76.14 | | | | | 02/11/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | *02/11/2020 | | | | | 15,693 | | | | | 18,547 | | | | | 76.14 | | | | | 02/11/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | 7/2/2020 | | | | | | | | | | — | | | | | | | | | | | | | | | 1,666(3) | | | | | 104,608 | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 4,996(3) | | | | | 366,706 | | | | | | | | | | | | | | | | *7/2/2020 | | | | | 10,884 | | | | | 1,859 | | | | | 106.47 | | | | | 07/01/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 1,611(5) | | | | | 118,247 | | | | | 5,050(6) | | | | | 370,670(8) | | | | | | ***1/15/2021 | | | | | 10,884 | | | | | 1,859 | | | | | 90.56 | | | | | 01/14/2031 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | *07/02/2020 | | | | | 4,512 | | | | | 8,231 | | | | | 106.47 | | | | | 07/01/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | 1/15/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 11,522(8) | | | | | 723,466 | | | | | | | | | | | | | |||||||||||||||||||
| | | ***01/15/2021 | | | | | 4,512 | | | | | 8,231 | | | | | 90.56 | | | | | 01/14/2031 | | | | | | | | | | | | | | | | | | | | | | | | | | 7/2/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 9,732(5) | | | | | 611,072 | | | | | | | | | | | | | |||||||||||||||||||
| | | 01/15/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 11,522(10) | | | | | 845,715 | | | | | | | | | | | | | | | | 7/2/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 3,927(3) | | | | | 246,576 | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 2,355(5) | | | | | 172,857 | | | | | 5,498(7) | | | | | 403,553(8) | | | | | | *7/2/2021 | | | | | 9,094 | | | | | 5,960 | | | | | 83.58 | | | | | 07/01/2031 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 7,853(3) | | | | | 576,410 | | | | | | | | | | | | | | | | 12/1/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 15,121(9) | | | | | 949,448 (7) | | | |||||||||||||||||||
| | | *07/02/2021 | | | | | — | | | | | 15,054 | | | | | 83.58 | | | | | 07/01/2031 | | | | | | | | | | | | | | | | | | | | | | | | | | 1/1/2022 | | | | | | | | | | | | | | | | | | | | | | | | | 14,463(10) | | | | | 908,132 | | | | | | | | | | | | | |||||||||||||||||||
| | | 12/01/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 15,121(11) | | | | | 1,109,881 | | | | | | 1/19/2022 | | | | | 9,094 | | | | | 5,960 | | | | | 74.78 | | | | | 01/18/2032 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | | | | 76,289 | | | | | 71,300 | | | | | | | | | | | | | | | 36,681 | | | | | 2,692,384 | | | | | 25,669 | | | | | 1,884,104 | | | | | | 7/2/2022 | | | | | | | | | | | | | | | | | | | | | | | | | 12,853(3) | | | | | 807,040 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | 7/2/2022 | | | | | 8,223 | | | | | 14,998 | | | | | 77.67 | | | | | 07/01/2032 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | 7/2/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 17,137(11) | | | | | 1,076,032(7) | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | 1/20/2023 | | | | | 8,681 | | | | | 15,834 | | | | | 83.20 | | | | | 01/19/2023 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | 7/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | 12,246(3) | | | | | 768,926 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | 7/14/2023 | | | | | — | | | | | 25,682 | | | | | 61.76 | | | | | 07/13/2033 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | 7/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 30,615(6) | | | | | 1,922,316(7) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | 162,482 | | | | | 73,579 | | | | | | | | | | | | | | | 67,476 | | | | | 4,236,817 | | | | | 62,873 | | | | | 3,947,796 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |
| | | Proxy Statement | |
| Executive Compensation | |
| | | | | | | Option Awards | | Stock Awards | | | | | | | | Option Awards | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | | Grant Date | | Number of Securities Underlying Unexercised Options (#) Exercisable (1) | | Number of Securities Underlying Unexercised Options (#) Un-Exercisable | | Option Exercise Price ($) | | Option Expiration Date | | Number of Shares or Units of Stock That Have Not Vested (#) | | Market Value of Shares or Units of Stock That Have Not Vested ($)(2) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) | | | Grant Date | | Number of Securities Underlying Unexercised Options (#) Exercisable (1) | | Number of Securities Underlying Unexercised Options (#) Un-Exercisable | | Option Exercise Price ($) | | Option Expiration Date | | Number of Shares or Units of Stock That Have Not Vested (#) | | Market Value of Shares or Units of Stock That Have Not Vested ($)(2) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Steven Stein | | | | | 01/07/2016 | | | | | 8,870 | | | | | — | | | | | 95.76 | | | | | 01/06/2023 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | **01/07/2016 | | | | | 4,039 | | | | | — | | | | | 95.76 | | | | | 01/06/2026 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *07/15/2016 | | | | | 1,194 | | | | | — | | | | | 83.83 | | | | | 07/14/2026 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | ***01/17/2017 | | | | | 19,091 | | | | | — | | | | | 113.64 | | | | | 01/16/2027 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | **01/17/2017 | | | | | 18,865 | | | | | — | | | | | 113.64 | | | | | 01/16/2027 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *07/05/2017 | | | | | 12,128 | | | | | — | | | | | 128.34 | | | | | 07/04/2017 | | | | | | | | | | | | | | | | | | | | ��� | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | ***01/23/2018 | | | | | 12,128 | | | | | — | | | | | 94.63 | | | | | 01/22/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | **01/24/2018 | | | | | | | | | | 21,167 | | | | | 95.34 | | | | | 01/23/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *07/02/2018 | | | | | 5,219 | | | | | 3,321 | | | | | 68.62 | | | | | 07/01/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2018 | | | | | | | | | | | | | | | | | | | | | | | | | 1,348(4) | | | | | 98,943 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | ***01/04/2019 | | | | | 3,321 | | | | | 9,014 | | | | | 72.27 | | | | | 01/03/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 04/29/2019 | | | | | | | | | | | | | | | | | | | | | | | | | 25,000(9) | | | | | 1,835,000 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2019 | | | | | | | | | | | | | | | | | | | | | | | | | 3,381(3) | | | | | 248,165 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *07/02/2019 | | | | | 9,925 | | | | | 6,503 | | | | | 85.01 | | | | | 07/01/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2019 | | | | | | | | | | | | | | | | | | | | | | | | | 3,441(4) | | | | | 252,569 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | ***01/17/2020 | | | | | 9,925 | | | | | 6,503 | | | | | 80.50 | | | | | 01/16/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 4,996(3) | | | | | 366,706 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 1,611(5) | | | | | 118,247 | | | | | 5,050(6) | | | | | 370,670(8) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *07/02/2020 | | | | | 4,512 | | | | | 8,231 | | | | | 106.47 | | | | | 07/01/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | ***01/15/2021 | | | | | 4,512 | | | | | 8,231 | | | | | 90.56 | | | | | 01/14/2031 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 01/15/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 23,044(10) | | | | | 1,691,430 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 2,355(5) | | | | | 172,857 | | | | | 5,498(7) | | | | | 403,553(8) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 7,853(3) | | | | | 576,410 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *07/02/2021 | | | | | — | | | | | 15,054 | | | | | 83.58 | | | | | 07/01/2031 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 12/01/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 30,243(11) | | | | | 2,219,836 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | 113,729 | | | | | 78,024 | | | | | | | | | | | | | | | 73,029 | | | | | 5,360,327 | | | | | 40,791 | | | | | 2,994,059 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pablo J. Cagnoni | | | | | 6/5/2023 | | | | | | | | | | | | | | | — | | | | | | | | | | 192,400(4) | | | | | 12,080,796 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 7/14/2023 | | | | | | | | | | | | | | | — | | | | | | | | | | 9,668(3) | | | | | 607,054 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 7/14/2023 | | | | | — | | | | | 20,275 | | | | | 61.76 | | | | | 07/13/2033 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 7/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 24,170(6) | | | | | 1,517,634(7) | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | — | | | | | 20,275 | | | | | | | | | | | | | | | 202,068 | | | | | 12,687,850 | | | | | 24,170 | | | | | 1,517,634 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Steven H. Stein | | | | | **1/7/2016 | | | | | 4,039 | | | | | — | | | | | 95.76 | | | | | 01/06/2026 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *7/15/2016 | | | | | 1,194 | | | | | — | | | | | 83.83 | | | | | 07/14/2026 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | ***1/17/2017 | | | | | 19,091 | | | | | — | | | | | 113.64 | | | | | 01/16/2027 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | **1/17/2017 | | | | | 18,865 | | | | | — | | | | | 113.64 | | | | | 01/16/2027 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *7/5/2017 | | | | | 12,128 | | | | | — | | | | | 128.34 | | | | | 07/04/2027 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | ***1/23/2018 | | | | | 12,128 | | | | | — | | | | | 94.63 | | | | | 01/22/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | **1/24/2018 | | | | | 21,167 | | | | | — | | | | | 95.34 | | | | | 01/23/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *7/2/2018 | | | | | 8,540 | | | | | — | | | | | 68.62 | | | | | 07/01/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | ***1/4/2019 | | | | | 12,335 | | | | | — | | | | | 72.27 | | | | | 01/03/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *7/2/2019 | | | | | 16,428 | | | | | — | | | | | 85.01 | | | | | 07/01/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | ***1/17/2020 | | | | | 16,428 | | | | | — | | | | | 80.50 | | | | | 01/16/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 7/2/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 1,666(3) | | | | | 104,608 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *7/2/2020 | | | | | 10,884 | | | | | 1,859 | | | | | 106.47 | | | | | 07/01/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | ***1/15/2021 | | | | | 10,884 | | | | | 1,859 | | | | | 90.56 | | | | | 01/14/2031 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 1/15/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 23,044(8) | | | | | 1,446,933 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 7/2/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 9,732(5) | | | | | 611,072 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 7/2/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 3,927(3) | | | | | 246,576 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *7/2/2021 | | | | | 9,094 | | | | | 5,960 | | | | | 83.58 | | | | | 07/01/2031 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 12/1/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 30,243(9) | | | | | 1,898,958(7) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 1/1/2022 | | | | | | | | | | | | | | | | | | | | | | | | | 28,926(10) | | | | | 1,816,264 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 1/19/2022 | | | | | 9,094 | | | | | 5,960 | | | | | 74.78 | | | | | 01/18/2032 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 7/2/2022 | | | | | | | | | | | | | | | | | | | | | | | | | 14,206(3) | | | | | 891,995 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 7/2/2022 | | | | | 9,089 | | | | | 16,576 | | | | | 77.67 | | | | | 07/01/2032 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 7/2/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 18,941(11) | | | | | 1,189,305(7) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 1/20/2023 | | | | | 9,596 | | | | | 17,500 | | | | | 83.20 | | | | | 01/19/2033 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 7/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | 13,535(3) | | | | | 849,863 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 7/14/2023 | | | | | — | | | | | 28,385 | | | | | 61.76 | | | | | 07/13/2033 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 7/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 33,838(6) | | | | | 2,124,688(7) | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | 200,984 | | | | | 78,099 | | | | | | | | | | | | | | | 95,036 | | | | | 5,967,311 | | | | | 83,022 | | | | | 5,212,951 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
| 72|Proxy Statement | | | |
| Executive Compensation | |
| | | | | | | Option Awards | | Stock Awards | | | | | | | | Option Awards | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | | Grant Date | | Number of Securities Underlying Unexercised Options (#) Exercisable (1) | | Number of Securities Underlying Unexercised Options (#) Un-Exercisable | | Option Exercise Price ($) | | Option Expiration Date | | Number of Shares or Units of Stock That Have Not Vested (#) | | Market Value of Shares or Units of Stock That Have Not Vested ($)(2) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) | | | Grant Date | | Number of Securities Underlying Unexercised Options (#) Exercisable (1) | | Number of Securities Underlying Unexercised Options (#) Un-Exercisable | | Option Exercise Price ($) | | Option Expiration Date | | Number of Shares or Units of Stock That Have Not Vested (#) | | Market Value of Shares or Units of Stock That Have Not Vested ($)(2) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Barry P. Flannelly | | | | | **01/07/2016 | | | | | 4,039 | | | | | — | | | | | 95.76 | | | | | 01/06/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | | **1/7/2016 | | | | | 4,039 | | | | | — | | | | | 95.76 | | | | | 01/06/2026 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||
| | | 01/07/2016 | | | | | 18,784 | | | | | — | | | | | 95.76 | | | | | 01/06/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | *7/15/2016 | | | | | 19,091 | | | | | — | | | | | 83.83 | | | | | 07/14/2026 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | *07/15/2016 | | | | | 19,091 | | | | | — | | | | | 83.83 | | | | | 07/14/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | ***1/17/2017 | | | | | 19,091 | | | | | — | | | | | 113.64 | | | | | 01/16/2027 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | ***01/17/2017 | | | | | 19,091 | | | | | — | | | | | 113.64 | | | | | 01/16/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | *7/5/2017 | | | | | 12,128 | | | | | — | | | | | 128.34 | | | | | 07/04/2027 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | *07/05/2017 | | | | | 12,128 | | | | | — | | | | | 128.34 | | | | | 07/04/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | ***1/23/2018 | | | | | 12,128 | | | | | — | | | | | 94.63 | | | | | 01/22/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | ***01/23/2018 | | | | | 12,128 | | | | | — | | | | | 94.63 | | | | | 01/22/2028 | | | | | | | | | | | | | | | | | | | | | | | | | | *7/2/2018 | | | | | 2,256 | | | | | — | | | | | 68.62 | | | | | 07/01/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | *07/02/2018 | | | | | 19,451 | | | | | 3,321 | | | | | 68.62 | | | | | 07/01/2028 | | | | | | | | | | | | | | | | | | | | | | | | | | ***1/4/2019 | | | | | 1,424 | | | | | — | | | | | 72.27 | | | | | 01/03/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2018 | | | | | | | | | | | | | | | | | | | | | | | | | 1,348(4) | | | | | 98,943 | | | | | | | | | | | | | | | | **1/4/2019 | | | | | 63,105 | | | | | — | | | | | 72.27 | | | | | 01/03/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | ***01/04/2019 | | | | | 19,451 | | | | | 3,321 | | | | | 72.27 | | | | | 01/03/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | *7/2/2019 | | | | | 16,428 | | | | | — | | | | | 85.01 | | | | | 07/01/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | **01/04/2019 | | | | | | | | | | 63,105 | | | | | 72.27 | | | | | 01/03/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | 1/17/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 11,482(8) | | | | | 720,955 | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2019 | | | | | | | | | | | | | | | | | | | | | | | | | 3,381(3) | | | | | 248,165 | | | | | | | | | | | | | | | | ***1/17/2020 | | | | | 16,428 | | | | | — | | | | | 80.50 | | | | | 01/16/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | *07/02/2019 | | | | | 9,925 | | | | | 6,503 | | | | | 85.01 | | | | | 07/01/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | 7/2/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 1,666(3) | | | | | 104,608 | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2019 | | | | | | | | | | | | | | | | | | | | | | | | | 3,441(4) | | | | | 252,569 | | | | | | | | | | | | | | | | *7/2/2020 | | | | | 10,884 | | | | | 1,859 | | | | | 106.47 | | | | | 07/01/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | 01/17/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 11,482(10) | | | | | 842,779 | | | | | | | | | | | | | | | | ***1/15/2021 | | | | | 10,884 | | | | | 1,859 | | | | | 90.56 | | | | | 01/14/2031 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | ***01/17/2020 | | | | | 9,925 | | | | | 6,503 | | | | | 80.50 | | | | | 01/16/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | 1/15/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 11,522(8) | | | | | 723,466 | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 4,996(3) | | | | | 366,706 | | | | | | | | | | | | | | | | 7/2/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 9,732(5) | | | | | 611,072 | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 1,611(5) | | | | | 118,247 | | | | | 5,050(6) | | | | | 370,670(8) | | | | | | 7/2/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 3,927(3) | | | | | 246,576 | | | | | | | | | | | | | |||||||||||||||||||
| | | *07/02/2020 | | | | | 4,512 | | | | | 8,231 | | | | | 106.47 | | | | | 07/01/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | *7/2/2021 | | | | | 9,094 | | | | | 5,960 | | | | | 83.58 | | | | | 07/01/2031 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | ***01/15/2021 | | | | | 4,512 | | | | | 8,231 | | | | | 90.56 | | | | | 01/14/2031 | | | | | | | | | | | | | | | | | | | | | | | | | | 12/1/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,073(9) | | | | | 569,694(7) | | | |||||||||||||||||||
| | | 01/15/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 11,522(10) | | | | | 845,715 | | | | | | | | | | | | | | | | 1/1/2022 | | | | | | | | | | | | | | | | | | | | | | | | | 8,678(10) | | | | | 544,892 | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 2,355(5) | | | | | 172,857 | | | | | 5,498(7) | | | | | 403,553(8) | | | | | | 1/19/2022 | | | | | 9,094 | | | | | 5,960 | | | | | 74.78 | | | | | 01/18/2032 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 7,853(3) | | | | | 576,410 | | | | | | | | | | | | | | | | 7/2/2022 | | | | | | | | | | | | | | | | | | | | | | | | | 10,147(3) | | | | | 637,130 | | | | | | | | | | | | | |||||||||||||||||||
| | | *07/02/2021 | | | | | — | | | | | 15,054 | | | | | 83.58 | | | | | 07/01/2031 | | | | | | | | | | | | | | | | | | | | | | | | | | 7/2/2022 | | | | | 6,492 | | | | | 11,840 | | | | | 77.67 | | | | | 07/01/2032 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | 12/01/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,073(11) | | | | | 665,958 | | | | | | 7/2/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 13,529(11) | | | | | 849,486(7) | | | ||||||||||||||||||
| | | | | | | | | 153,037 | | | | | 114,269 | | | | | | | | | | | | | | | 47,989 | | | | | 3,522,391 | | | | | 19,621 | | | | | 1,440,181 | | | | | | 1/20/2023 | | | | | 6,854 | | | | | 12,500 | | | | | 83.20 | | | | | 01/19/2033 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 7/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | 9,668(3) | | | | | 607,054 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maria E. Pasquale | | | | | *04/09/2018 | | | | | 11,344 | | | | | 3,433 | | | | | 65.36 | | | | | 04/08/2028 | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 04/09/2018 | | | | | | | | | | | | | | | | | | | | | | | | | 1,482(3) | | | | | 108,779 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *07/02/2018 | | | | | 7,117 | | | | | 3,321 | | | | | 68.62 | | | | | 07/01/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2018 | | | | | | | | | | | | | | | | | | | | | | | | | 1,348(4) | | | | | 98,943 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | ***01/04/2019 | | | | | 8,540 | | | | | 3,321 | | | | | 72.27 | | | | | 01/03/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2019 | | | | | | | | | | | | | | | | | | | | | | | | | 3,381(3) | | | | | 248,165 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *07/02/2019 | | | | | 9,925 | | | | | 6,503 | | | | | 85.01 | | | | | 07/01/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2019 | | | | | | | | | | | | | | | | | | | | | | | | | 3,441(4) | | | | | 252,569 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | ***01/17/2020 | | | | | 9,925 | | | | | 6,503 | | | | | 80.50 | | | | | 01/16/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 1,611(5) | | | | | 118,247 | | | | | 5,050(6) | | | | | 370,670(8) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 4,996(3) | | | | | 366,706 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *07/02/2020 | | | | | 4,512 | | | | | 8,231 | | | | | 106.47 | | | | | 07/01/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | ***01/15/2021 | | | | | 4,512 | | | | | 8,231 | | | | | 90.56 | | | | | 01/14/2031 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 2,355(5) | | | | | 172,857 | | | | | 5,498(7) | | | | | 403,553(8) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 07/02/2021 | | | | | | | | | | | | | | | | | | | | | | | | | 7,853(3) | | | | | 576,410 | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | *07/02/2021 | | | | | — | | | | | 15,054 | | | | | 83.58 | | | | | 07/01/2031 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 12/01/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 15,121(11) | | | | | 1,109,881 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | 55,875 | | | | | 54,597 | | | | | | | | | | | | | | | 26,467 | | | | | 1,942,676 | | | | | 25,669 | | | | | 1,884,104 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Barry P. Flannelly | | | | | 7/14/2023 | | | | | — | | | | | 20,275 | | | | | 61.76 | | | | | 07/13/2033 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 7/14/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 24,170(6) | | | | | 1,517,634(7) | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | 219,420 | | | | | 60,253 | | | | | | | | | | | | | | | 66,822 | | | | | 4,195,753 | | | | | 46,772 | | | | | 2,936,814 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |
| | | Proxy Statement 2024|73 | |
| Executive Compensation | |
| 74|Proxy Statement | | | |
| Executive Compensation | |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||
Name | | | Number of Shares Acquired on Exercise (#) | | | Value Realized on Exercise ($)(1) | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting ($)(2) | | ||||||||||||
Hervé Hoppenot | | | | | — | | | | | | — | | | | | | 38,429(3) | | | | | | 3,211,075 | | |
Christiana Stamoulis | | | | | — | | | | | | — | | | | | | 5,303(4) | | | | | | 448,354 | | |
Steven H. Stein | | | | | 3,795 | | | | | | 119,087 | | | | | | 57,302(5) | | | | | | 4,890,590 | | |
Barry P. Flannelly | | | | | — | | | | | | — | | | | | | 7,302(6) | | | | | | 610,090 | | |
Maria E. Pasquale | | | | | 1,146 | | | | | | 16,129 | | | | | | 7,904(7) | | | | | | 655,251 | | |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||
Name | | | Number of Shares Acquired on Exercise (#) | | | Value Realized on Exercise ($)(1) | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting ($)(2) | | ||||||||||||
Hervé Hoppenot | | | | | — | | | | | | — | | | | | | 94,589(3) | | | | | | 5,872,085 | | |
Christiana Stamoulis | | | | | — | | | | | | — | | | | | | 18,142(4) | | | | | | 1,191,757 | | |
Pablo J. Cagnoni | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Steven H. Stein | | | | | — | | | | | | — | | | | | | 18,366(5) | | | | | | 1,140,161 | | |
Barry P. Flannelly | | | | | — | | | | | | — | | | | | | 17,013(6) | | | | | | 1,056,167 | | |
| | | Proxy Statement | |
| 76|Proxy Statement | | | |
Year | | | Summary Compensation Table Total for PEO ($)(1) | | | Compensation Actually Paid to PEO ($)(2)(3) | | | Average Summary Compensation Table Total for Non-PEO Named Executive Officers ($)(4) | | | Average Compensation Actually Paid to Non-PEO Named Executive Officers ($)(2)(5) | | | Value of Initial Fixed $100 Investment Based on: | | | Net Income ($ M) | | | Total Product Revenues ($ M)(8) | | |||||||||||||||||||||||||||
| Total Shareholder Return ($)(6) | | | Peer Group Total Shareholder Return ($)(7) | | ||||||||||||||||||||||||||||||||||||||||||||
2023 | | | | | 16,659,526 | | | | | | 7,842,731 | | | | | | 7,843,705 | | | | | | 6,405,428 | | | | | | 71.91 | | | | | | 115.42 | | | | | | 597.6 | | | | | | 3,165.2 | | |
2022 | | | | | 16,669,368 | | | | | | 15,972,264 | | | | | | 5,750,911 | | | | | | 5,496,116 | | | | | | 91.98 | | | | | | 113.65 | | | | | | 340.7 | | | | | | 2,746.9 | | |
2021 | | | | | 14,444,265 | | | | | | 6,228,229 | | | | | | 5,217,889 | | | | | | 1,847,797 | | | | | | 84.06 | | | | | | 126.45 | | | | | | 948.6 | | | | | | 2,322.0 | | |
2020 | | | | | 16,378,192 | | | | | | 13,448,394 | | | | | | 3,725,684 | | | | | | 3,748,945 | | | | | | 99.61 | | | | | | 126.42 | | | | | | (295.7) | | | | | | 2,068.7 | | |
Year | | | Reported Summary Compensation Table Total for PEO ($) | | | Reported Value of Equity Awards ($) | | | CAP of Equity Vesting during FY ($) | | | CAP of Unvested Equity at FYE granted prior to the current FY ($) | | | CAP of Unvested Equity at FYE granted during the current FY ($) | | | Compensation Actually Paid to PEO ($)* | | ||||||||||||||||||
2023 | | | | | 16,659,526 | | | | | | (13,759,707) | | | | | | (2,202,340) | | | | | | (1,080,176) | | | | | | 8,225,428 | | | | | | 7,842,731 | | |
2022 | | | | | 16,669,368 | | | | | | (13,783,149) | | | | | | 1,005,994 | | | | | | 2,981,288 | | | | | | 9,098,763 | | | | | | 15,972,264 | | |
2021 | | | | | 14,444,265 | | | | | | (12,088,636) | | | | | | (606,066) | | | | | | (1,960,844) | | | | | | 6,439,510 | | | | | | 6,228,229 | | |
2020 | | | | | 16,378,192 | | | | | | (13,832,247) | | | | | | 2,043,085 | | | | | | 127,113 | | | | | | 8,732,251 | | | | | | 13,448,394 | | |
| | | Proxy Statement 2024|77 | |
| Pay Versus Performance | |
Year | | | Reported Summary Compensation Table Total for Non-PEO NEOs ($) | | | Reported Value of Equity Awards ($) | | | CAP of Equity Vesting during FY ($) | | | CAP of Unvested Equity at FYE granted prior to the current FY ($) | | | CAP of Unvested Equity at FYE granted during the current FY ($) | | | Compensation Actually Paid to Non-PEO NEOs ($)* | | ||||||||||||||||||
2023 | | | | | 7,843,705 | | | | | | (6,458,845) | | | | | | (291,967) | | | | | | 203,007 | | | | | | 5,109,528 | | | | | | 6,405,428 | | |
2022 | | | | | 5,750,911 | | | | | | (4,652,030) | | | | | | 182,351 | | | | | | 644,655 | | | | | | 3,570,229 | | | | | | 5,496,116 | | |
2021 | | | | | 5,217,889 | | | | | | (4,302,448) | | | | | | (213,819) | | | | | | (837,071) | | | | | | 1,983,246 | | | | | | 1,847,797 | | |
2020 | | | | | 3,725,684 | | | | | | (2,791,502) | | | | | | 218,828 | | | | | | 534,106 | | | | | | 2,061,829 | | | | | | 3,748,945 | | |
| 78|Proxy Statement 2024 | | | |
| Pay Versus Performance | |
| | | Proxy Statement 2024|79 | |
| Pay Versus Performance | |
| 80|Proxy Statement 2024 | | | |
| Pay Versus Performance | |
Most Important Performance Measures | |
Total product revenues | |
Pipeline development and progression | |
Total shareholder return (TSR) | |
| | | Proxy Statement 2024|81 | |
| | Number of securities to be issued upon exercise of outstanding options, warrants and rights | | Weighted-average exercise price of outstanding options, warrants and rights ($) | | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) | | |||||||||||||||||||||||||||||||
Plan Category | | | Number of securities to be issued upon exercise of outstanding options, warrants and rights | | Weighted-average exercise price of outstanding options, warrants and rights ($) | | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) | | ||||||||||||||||||||||||||||||
| (a) | | (b) | | (c) | | | (a) | | (b) | | (c) | | |||||||||||||||||||||||||
Equity compensation plans approved by security holders | | | | 16,863,292(1) | | | | | 88.39(2) | | | | | 10,654,571(3) | | | | | | 19,724,672(1) | | | | | 85.40(2) | | | | | 11,457,577(3) | | | ||||||
Equity compensation plans not approved by security holders | | | | — | | | | | — | | | | | — | | | | | | — | | | | | — | | | | | — | | | ||||||
Total | | | | 16,863,292 | | | | | 88.39 | | | | | 10,654,571 | | | | | | 19,724,672 | | | | | 85.40 | | | | | 11,457,577 | | |
| | | |
| | | Year Ended December 31 | | | | Year Ended December 31 | | ||||||||||||||||||
| | 2021 | | 2020 | | | 2023 | | 2022 | | ||||||||||||||||
| | (in thousands) | | | (in thousands) | | ||||||||||||||||||||
Audit Fees(1) | | | $ | 2,447 | | | | $ | 2,297 | | | | | $ | 3,645 | | | | $ | 2,664 | | | ||||
Audit-related Fees(2) | | | $ | 218 | | | | | — | | | | | | 402 | | | | | 122 | | | ||||
Total | | | $ | 4,047 | | | | $ | 2,786 | | |
| | | Proxy Statement | |
| PROPOSAL 3 Ratification of Independent Registered Public Accounting Firm | |
| 84|Proxy Statement 2024 | | | |
| | | Proxy Statement 2024|85 | |
Name and Address of Beneficial Owner(1) | | | Shares Beneficially Owned (#)(1) | | | Percentages Beneficially Owned (%)(1) | | ||||||
5% Stockholders | | | | | | | | | | | | | |
Felix J. Baker(2) | | | | | 36,644,727 | | | | | | 16.5 | | |
Baker Bros. Advisors LP and affiliated entities(2) | | | | | 36,279,680 | | | | | | 16.4 | | |
The Vanguard Group and affiliates(3) | | | | | 20,944,759 | | | | | | 9.5 | | |
BlackRock, Inc.(4) | | | | | 18,336,658 | | | | | | 8.3 | | |
Dodge & Cox (5) | | | | | 16,657,586 | | | | | | 7.5 | | |
Named Executive Officers and Directors | | | | | | | | | | | | | |
Hervé Hoppenot(6) | | | | | 1,109,774 | | | | | | * | | |
Christiana Stamoulis(7) | | | | | 101,636 | | | | | | * | | |
Steven H. Stein(8) | | | | | 185,441 | | | | | | * | | |
Barry P. Flannelly(9) | | | | | 132,653 | | | | | | * | | |
Maria E. Pasquale(10) | | | | | 85,520 | | | | | | * | | |
Julian C. Baker(2) | | | | | 36,642,310 | | | | | | 16.5 | | |
Jean-Jacques Bienaimé(11) | | | | | 131,840 | | | | | | * | | |
Otis W. Brawley (12) | | | | | 7,165 | | | | | | * | | |
Paul J. Clancy(13) | | | | | 129,286 | | | | | | * | | |
Wendy L. Dixon(14) | | | | | 143,764 | | | | | | * | | |
Jacqualyn A. Fouse(15) | | | | | 88,257 | | | | | | * | | |
Edmund P. Harrigan(16) | | | | | 28,456 | | | | | | * | | |
Katherine A. High(17) | | | | | 15,143 | | | | | | * | | |
All directors and executive officers as a group (18 persons)(18) | | | | | 39,245,152 | | | | | | 17.5 | | |
Name and Address of Beneficial Owner(1) | | | Shares Beneficially Owned (#)(1) | | | Percentages Beneficially Owned (%)(1) | | ||||||
5% Stockholders | | | | | | | | | | | | | |
Felix J. Baker(2) | | | | | 36,669,079 | | | | | | 16.3 | | |
Baker Bros. Advisors LP and affiliated entities(2) | | | | | 36,308,584 | | | | | | 16.2 | | |
BlackRock, Inc.(3) | | | | | 24,297,249 | | | | | | 10.8 | | |
The Vanguard Group and affiliates(4) | | | | | 22,519,381 | | | | | | 10.0 | | |
Dodge & Cox(5) | | | | | 16,090,421 | | | | | | 7.2 | | |
Named Executive Officers and Directors | | | | | | | | | | | | | |
Hervé Hoppenot(6) | | | | | 1,445,647 | | | | | | * | | |
Christiana Stamoulis(7) | | | | | 200,401 | | | | | | * | | |
Pablo J. Cagnoni | | | | | — | | | | | | * | | |
Steven H. Stein(8) | | | | | 217,088 | | | | | | * | | |
Barry P. Flannelly(9) | | | | | 260,851 | | | | | | * | | |
Julian C. Baker(2) | | | | | 36,666,662 | | | | | | 16.3 | | |
Jean-Jacques Bienaimé(10) | | | | | 156,907 | | | | | | * | | |
Otis W. Brawley(11) | | | | | 32,232 | | | | | | * | | |
Paul J. Clancy(12) | | | | | 157,199 | | | | | | * | | |
Jacqualyn A. Fouse(13) | | | | | 114,142 | | | | | | * | | |
Edmund P. Harrigan(14) | | | | | 56,417 | | | | | | * | | |
Katherine A. High(15) | | | | | 48,220 | | | | | | * | | |
Susanne Schaffert(16) | | | | | 21,687 | | | | | | * | | |
All directors and executive officers as a group (19 persons)(17) | | | | | 39,950,723 | | | | | | 17.6 | | |
| 86|Proxy Statement 2024 | | | |
| Security Ownership of Certain Beneficial Owners and Management | |
Holder | | | Shares | | |||
667, L.P. | | | | | 2,734,189 | | |
Baker Brothers Life Sciences, L.P. | | | | | 33,212,097 | | |
Julian C. Baker | | | | | | | |
Felix J. Baker | | | | | 281,190 | | |
Entities affiliated with Julian C. Baker and Felix J. Baker | | | | | | |
| | | Proxy Statement | |
| | | |
| | | Proxy Statement | |
| | | |
| Frequently Asked Questions | |
| By Mail | | | By Telephone | | | By Internet | | | In Person at the Annual | |
| | | | | | | | ||||
| | | | | By | | | In Person at the Annual | | ||
| | | | Most stockholders who hold shares beneficially in street name may provide voting instructions to their brokers, banks or other nominees by telephone by calling the number specified on the voting instruction form provided by their brokers, banks or other nominees. The telephone voting facilities will close at 11:59 | | | Most stockholders who hold shares beneficially in street name may provide voting instructions to their brokers, banks or other nominees by accessing the website specified on the voting instruction form provided by their brokers, banks or other nominees. The internet voting facilities will close at 11:59 | | | Even if you plan to attend the Annual Meeting, we recommend that you also submit your proxy or voting instructions or vote by telephone or the internet so that your vote will be counted if you later decide not to attend the meeting. | |
| | | Proxy Statement 2024|91 | |
| Frequently Asked Questions | |
Proposal | | | Vote Required | | | Effect of Abstentions(1) | | | Broker Discretionary Voting Allowed?(2) | | ||||||
1 | | | Election of Directors | | | A nominee for director will be elected if the votes cast “FOR” such nominee exceed the votes cast “AGAINST” such nominee. | | | No effect Not considered votes cast on this proposal | | | No Brokers without voting instructions will not be able to vote on this proposal | | |||
2 | | | Advisory Vote to Approve Executive Compensation | | | Non-binding, advisory proposal. We will consider the matter approved if it receives the affirmative vote of a majority of the shares of common stock present at the Annual Meeting in person or by proxy and entitled to vote on this proposal. | | | Counted as vote Same effect as votes against | | | No Brokers without voting instructions will not be able to vote on this proposal | | |||
3 | | | Ratification of the Appointment of Ernst & Young LLP | | | The affirmative “FOR” vote of a majority of the shares present at the Annual Meeting in person or by proxy and entitled to vote on this proposal. | | | Counted as vote Same effect as votes against | | | Yes Brokers without voting instructions will have discretionary authority to vote | |
| 92|Proxy Statement 2024 | | | |
| Frequently Asked Questions | |
| | | Proxy Statement | |
| A-1|Proxy Statement | | | |