☐ | Preliminary Proxy Statement |
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☒ | Definitive Proxy Statement |
☐ | Definitive Additional Materials |
☐ | Soliciting Material Pursuant to §240.14a-12 |
☒ | No fee required. |
☐ | Fee paid previously with preliminary materials. |
☐ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 |
1. | To elect |
2. | To approve an amendment to our Amended and Restated 2017 Performance Incentive Plan to increase the aggregate number of shares of common stock authorized for issuance under the plan by |
3. | To ratify the selection of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, |
4. | To approve a non-binding advisory resolution regarding our executive compensation (a “say-on-pay” vote). |
5. | To |
| | By Order of the Board of Directors | |
| | ||
| | /s/ Mark A. Wilson | |
| | Mark A. Wilson Senior Vice President, Chief Legal Officer and Secretary | |
San Francisco, California | | | |
April 26, 2024 | | |
1. | To vote during the meeting, attend the Annual Meeting which will be held by live webcast. To attend the live webcast meeting go to www.virtualshareholdermeeting.com/ |
2. | To vote on the Internet prior to the Annual Meeting, go to www.proxyvote.com to complete an electronic proxy card. You will be asked to provide the 16-digit control number from the Notice and follow the instructions. Your vote must be received by 11:59 p.m. Eastern Time on June |
3. | To vote by phone, request a paper or email copy of the proxy materials by following the instructions on the Notice and call the number provided with the proxy materials to transmit your voting instructions. Your vote must be received by 11:59 p.m. Eastern Time on June |
4. | To vote by mail, request a paper copy of the |
1. | Proposal 1: “For” election of the |
2. | Proposal 2: “For” the approval of an amendment to the Amended and Restated 2017 Performance Incentive Plan to increase the aggregate number of shares of common stock authorized for issuance under the plan by |
3. | Proposal 3: “For” the ratification of the Audit Committee’s selection of Ernst & Young LLP as our independent registered public accounting firm for our fiscal year ending December 31, |
4. | Proposal 4: “For” the approval of a non-binding advisory resolution regarding our executive compensation (a “say-on-pay” vote). |
1. | A duly executed proxy card with a later date or time than the previously submitted proxy; |
2. | A written notice that you are revoking your proxy to our Secretary, care of Nektar Therapeutics, at 455 Mission Bay Boulevard South, San Francisco, California 94158; or |
3. | A later-dated vote on the Internet or by phone or a ballot cast during the live webcast at the Annual Meeting (simply attending the Annual Meeting will not, by itself, revoke your proxy). |
| | As of April 8, 2024 | |
Shares Outstanding and Available for Grant under the 2017 Plan and the Prior Plans | | | |
Total shares subject to outstanding stock options | | | |
Total shares subject to outstanding deferred restricted stock, restricted stock units, and performance restricted stock units | | | |
Weighted-average exercise price of outstanding stock options under all stock incentive plans | | | $ |
Weighted-average remaining contractual life of outstanding stock options (years) | | | |
Total shares available for grant under all stock incentive plans but not yet granted(1) | | |
(1) | Excludes shares available for purchase under ESPP |
Name and Position | | | Stock Options | | | Restricted Stock Units | ||||||
| | Number of Shares (#) | | | Average Exercise Price ($) | | | Number of Units (#) | | | Dollar Value ($)(1) | |
Howard W. Robin President and Chief Executive Officer | | | 1,642,500 | | | 4.91 | | | 821,250 | | | 4,032,338 |
Jillian B. Thomsen Chief Financial Officer and Chief Accounting Officer | | | 663,750 | | | 4.91 | | | 331,876 | | | 1,629,511 |
Mark A. Wilson Chief Legal Officer | | | 663,750 | | | 4.91 | | | 331,876 | | | 1,629,511 |
Jonathan Zalevsky, Ph.D. Chief Research and Development Officer | | | 540,000 | | | 4.91 | | | 270,000 | | | 1,325,700 |
Named Executive Officer Group (4 persons) | | | 3,510,000 | | | 4.91 | | | 1,755,002 | | | 8,617,060 |
Non-Executive Director Group (7 persons other than Mr. Robin) | | | 142,800 | | | 3.47 | | | 71,400 | | | 247,758 |
Employee Group (other than named executive officers) (approximately 209 persons)* | | | 6,275,750 | | | 4.76(2) | | | 5,309,176 | | | 19,410,855 |
| | Stock Options | | | Restricted Stock Units | |||||||
Name and Position | | | Number of Shares (#) | | | Average Exercise Price ($) | | | Number of Units (#) | | | Dollar Value ($)(1) |
Howard W. Robin President and Chief Executive Officer | | | 2,600,000 | | | 0.50 | | | — | | | — |
Sandra Gardiner(2) Interim Chief Financial Officer | | | — | | | — | | | — | | | — |
Mark A. Wilson Chief Legal Officer | | | 650,000 | | | 0.50 | | | — | | | — |
Jonathan Zalevsky, Ph.D. Chief Research and Development Officer | | | 500,000 | | | 0.50 | | | — | | | — |
Named Executive Officer Group (4 persons) | | | 3,750,000 | | | 0.50(3) | | | — | | | — |
Non-Executive Director Group (6 persons other than Mr. Robin) | | | 510,000 | | | 0.68(3) | | | — | | | — |
Employee Group (other than named executive officers) (approximately 133 persons)* | | | 7,577,650 | | | 0.51(3) | | | 126,000 | | | 139,014(4) |
* | As of April |
(1) | The valuation of stock awards is based on the grant date fair value computed in accordance with FASB ASC Topic 718. For a discussion of the assumptions used in calculating these values, see Note |
(2) | Ms. Gardiner was appointed our Interim Chief Financial Officer as of April 17, 2023. Ms. Gardiner is a partner at FLG Partners, LLC and provides services as Interim Chief Financial Officer as an outside consultant pursuant to a consulting agreement between the Company and FLG Partners, LLC. Ms. Gardiner did not receive any equity grant award in 2023. |
(3) | Represents the weighted average exercise price for the group. |
Represents the aggregate grant date fair value for the group. |
Plan Category | | | Number of Securities to be Issued Upon Exercise of Outstanding Options & Vesting of RSUs (a) | | | Weighted-Average Exercise Price of Outstanding Options (b) | | | Number of Securities Remaining Available for Issuance Under Amended 2017 Plan (Excluding Securities Reflected in Column(a)) (c) |
Equity compensation plans approved by security holders(3) | | | 23,589,000 | | | $16.40 | | | 2,973,000 |
Equity compensation plans not approved by security holders | | | 0 | | | $0 | | | 0 |
Total | | | 23,589,000 | | | $16.40 | | | 2,973,000 |
Plan Category | | | Number of Securities to be Issued Upon Exercise of Outstanding Options & Vesting of RSUs (a) | | | Weighted-Average Exercise Price of Outstanding Options (b) | | | Number of Securities Remaining Available for Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column(a)) (c) |
Equity compensation plans approved by security holders | | | 27,246,000 | | | $8.26 | | | 10,101,000 |
Equity compensation plans not approved by security holders | | | 0 | | | $0 | | | 0 |
Total | | | 27,246,000 | | | $8.26 | | | 10,101,000 |
| | As of April 8, 2024 | |
Shares Outstanding and Available for Grant under the 2017 Plan and the Prior Plans | | | |
Total shares subject to outstanding stock options | | | 23,000,278 |
Total shares subject to outstanding deferred restricted stock, restricted stock units, and performance restricted stock units | | | 3,665,470 |
Weighted-average exercise price of outstanding stock options under all stock incentive plans | | | $8.262 |
Weighted-average remaining contractual life of outstanding stock options (years) | | | 6.1678 |
Total shares available for grant under all stock incentive plans but not yet granted(1) | | | 10,182,402 |
(1) | Excludes shares available for purchase under ESPP (774,701 shares as of April 8, 2024) |
| | Stock Options | | | Restricted Stock Units | |||||||
Name and Position | | | Number of Shares (#) | | | Average Exercise Price ($) | | | Number of Units (#) | | | Dollar Value ($)(1) |
Howard W. Robin President and Chief Executive Officer | | | 2,600,000 | | | 0.50 | | | — | | | — |
Sandra Gardiner(2) Interim Chief Financial Officer | | | — | | | — | | | — | | | — |
Mark A. Wilson Chief Legal Officer | | | 650,000 | | | 0.50 | | | — | | | — |
Jonathan Zalevsky, Ph.D. Chief Research and Development Officer | | | 500,000 | | | 0.50 | | | — | | | — |
Named Executive Officer Group (4 persons) | | | 3,750,000 | | | 0.50(3) | | | — | | | — |
Non-Executive Director Group (6 persons other than Mr. Robin) | | | 510,000 | | | 0.68(3) | | | — | | | — |
Employee Group (other than named executive officers) (approximately 133 persons)* | | | 7,577,650 | | | 0.51(3) | | | 126,000 | | | 139,014(4) |
* | As of April 8, 2024 |
(1) | The valuation of stock awards is based on the grant date fair value computed in accordance with FASB ASC Topic 718. For a discussion of the assumptions used in calculating these values, see Note 10 to our consolidated financial statements in our annual report on Form 10-K for the fiscal year ended December 31, 2023. |
(2) | Ms. Gardiner was appointed our Interim Chief Financial Officer as of April 17, 2023. Ms. Gardiner is a partner at FLG Partners, LLC and provides services as Interim Chief Financial Officer as an outside consultant pursuant to a consulting agreement between the Company and FLG Partners, LLC. Ms. Gardiner did not receive any equity grant award in 2023. |
(3) | Represents the weighted average exercise price for the group. |
(4) | Represents the aggregate grant date fair value for the group. |
Plan Category | | | Number of Securities to be Issued Upon Exercise of Outstanding Options & Vesting of RSUs (a) | | | Weighted-Average Exercise Price of Outstanding Options (b) | | | Number of Securities Remaining Available for Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column(a)) (c) |
Equity compensation plans approved by security holders | | | 27,246,000 | | | $8.26 | | | 10,101,000 |
Equity compensation plans not approved by security holders | | | 0 | | | $0 | | | 0 |
Total | | | 27,246,000 | | | $8.26 | | | 10,101,000 |
| | Beneficial Ownership ** | ||||
Beneficial Owner | | | Number of Shares | | | Percent of Total |
Invesco Ltd.(1) | | | 37,327,473 | | | 19.73% |
BlackRock, Inc.(2) | | | 35,928,093 | | | 18.99% |
The Vanguard Group(3) | | | 23,065,775 | | | 12.19% |
PRIMECAP Management Company(4) | | | 15,659,053 | | | 8.27% |
Deep Track Capital, LP(5) | | | 12,302,237 | | | 6.50% |
Jeff Ajer(6) | | | 159,262 | | | * |
Diana Brainard, M.D.(7) | | | 38,080 | | | * |
Robert Chess(8) | | | 274,773 | | | * |
Myriam Curet, M.D.(9) | | | 97,177 | | | * |
Karin Eastham(10) | | | 95,233 | | | * |
R. Scott Greer(11) | | | 410,574 | | | * |
Howard W. Robin(12) | | | 2,282,376 | | | 1.21% |
Roy A. Whitfield(13) | | | 236,050 | | | * |
Jillian B. Thomsen(14) | | | 564,427 | | | * |
Mark A. Wilson(15) | | | 541,243 | | | * |
Jonathan Zalevsky, Ph.D.(16) | | | 1,108,318 | | | * |
All executive officers and directors as a group (11 persons) | | | 5,807,513 | | | 3.07% |
| | As of April 8, 2024 | |
Shares Outstanding and Available for Grant under the 2017 Plan and the Prior Plans | | | |
Total shares subject to outstanding stock options | | | 23,000,278 |
Total shares subject to outstanding deferred restricted stock, restricted stock units, and performance restricted stock units | | | 3,665,470 |
Weighted-average exercise price of outstanding stock options under all stock incentive plans | | | $8.262 |
Weighted-average remaining contractual life of outstanding stock options (years) | | | 6.1678 |
Total shares available for grant under all stock incentive plans but not yet granted(1) | | | 10,182,402 |
(1) | Excludes shares available for purchase under ESPP (774,701 shares as of April 8, 2024) |
| | Stock Options | | | Restricted Stock Units | |||||||
Name and Position | | | Number of Shares (#) | | | Average Exercise Price ($) | | | Number of Units (#) | | | Dollar Value ($)(1) |
Howard W. Robin President and Chief Executive Officer | | | 2,600,000 | | | 0.50 | | | — | | | — |
Sandra Gardiner(2) Interim Chief Financial Officer | | | — | | | — | | | — | | | — |
Mark A. Wilson Chief Legal Officer | | | 650,000 | | | 0.50 | | | — | | | — |
Jonathan Zalevsky, Ph.D. Chief Research and Development Officer | | | 500,000 | | | 0.50 | | | — | | | — |
Named Executive Officer Group (4 persons) | | | 3,750,000 | | | 0.50(3) | | | — | | | — |
Non-Executive Director Group (6 persons other than Mr. Robin) | | | 510,000 | | | 0.68(3) | | | — | | | — |
Employee Group (other than named executive officers) (approximately 133 persons)* | | | 7,577,650 | | | 0.51(3) | | | 126,000 | | | 139,014(4) |
* | As of April 8, 2024 |
(1) | The valuation of stock awards is based on the grant date fair value computed in accordance with FASB ASC Topic 718. For a discussion of the assumptions used in calculating these values, see Note 10 to our consolidated financial statements in our annual report on Form 10-K for the fiscal year ended December 31, 2023. |
(2) | Ms. Gardiner was appointed our Interim Chief Financial Officer as of April 17, 2023. Ms. Gardiner is a partner at FLG Partners, LLC and provides services as Interim Chief Financial Officer as an outside consultant pursuant to a consulting agreement between the Company and FLG Partners, LLC. Ms. Gardiner did not receive any equity grant award in 2023. |
(3) | Represents the weighted average exercise price for the group. |
(4) | Represents the aggregate grant date fair value for the group. |
Plan Category | | | Number of Securities to be Issued Upon Exercise of Outstanding Options & Vesting of RSUs (a) | | | Weighted-Average Exercise Price of Outstanding Options (b) | | | Number of Securities Remaining Available for Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column(a)) (c) |
Equity compensation plans approved by security holders | | | 27,246,000 | | | $8.26 | | | 10,101,000 |
Equity compensation plans not approved by security holders | | | 0 | | | $0 | | | 0 |
Total | | | 27,246,000 | | | $8.26 | | | 10,101,000 |
| | Beneficial Ownership** | ||||
Beneficial Owner | | | Number of Shares | | | Percent of Total |
TCG Crossover GP II, LLC(1) | | | 20,046,350 | | | 10.92% |
Deep Track Capital, LP(2) | | | 18,400,000 | | | 10.02% |
The Vanguard Group(3) | | | 12,042,873 | | | 6.56 |
Jeff Ajer(4) | | | 228,567 | | | * |
Diana Brainard, M.D.(5) | | | 130,103 | | | * |
Robert Chess(6) | | | 455,437 | | | * |
Myriam Curet, M.D.(7) | | | 166,482 | | | * |
R. Scott Greer(8) | | | 484,238 | | | * |
Howard W. Robin(9) | | | 2,839,358 | | | 1.55% |
Roy A. Whitfield(10) | | | 468,414 | | | * |
Sandra Gardiner | | | — | | | — |
Mark A. Wilson(11) | | | 759,520 | | | * |
Jonathan Zalevsky, Ph.D.(12) | | | 1,279,828 | | | * |
All executive officers and directors as a group (10 persons) | | | 6,811,947 | | | 3.71% |
* | Denotes ownership percentage less than 1%. |
** | This table is based upon information supplied by officers, directors and principal stockholders and Schedules 13G filed with the SEC. Unless otherwise indicated in the footnotes to this table, and subject to community property laws where applicable, we believe that each of the stockholders named in the table has sole voting and investment power with respect to the shares indicated as beneficially owned. Applicable percentages are based on 183,624,232 shares outstanding on April 8, 2024, adjusted as required by rules promulgated by the SEC. |
1. | Based solely on the Schedule 13G filed with the SEC on March 15, 2024 by TCG Crossover GP II, LLC, TCG Crossover Fund II, L.P, and Mr. Chen Yu. Each of TCG Crossover GP II, LLC, TCG Crossover Fund II, L.P, and Mr. Chen Yu have shared voting and dispositive power over 20,046,350 shares of our common stock (consists of (i) 3,000,000 shares of our common stock and (ii) 17,046,350 shares of our common stock, issuable upon exercise of certain Pre-Funded Warrants (as defined and described in our Current Report on Form 8-K filed with the SEC on March 4, 2024) and excludes 7,953,650 shares of our common stock issuable upon exercise of certain Pre-Funded Warrants because the Pre-Funded Warrants may not be exercised to the extent that doing so would result in the holder of the Pre-Funded Warrants (together with the holder’s affiliates and any other persons acting as a group together with the holder or any of the holder’s affiliates) beneficially owning more than 9.99% of the shares of our common stock then outstanding immediately after giving effect to such exercise). The principal business address of each of TCG Crossover GP II, LLC, TCG Crossover Fund II, L.P, and Mr. Chen Yu is 705 High St., Palo Alto, CA 94301. |
2. | Based solely on the Schedule 13G/A (Amendment No. 1) filed with the SEC on February 14, 2024 by Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd. and Mr. David Kroin. Each of Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd. and Mr. David Kroin have shared voting and dispositive power over 18,400,000 shares of our common stock. The principal business address of Deep Track Capital, LP and Mr. David Kroin is 200 Greenwich Ave, 3rd Floor, Greenwich, CT 06830. The principal business address of Deep Track Biotechnology Master Fund, Ltd. is c/o Walkers Corporate Limited, 190 Elgin Ave, George Town, KY1-9001, Cayman Islands. |
3. | Based solely on the Schedule 13G/A (Amendment No. 13) filed with the SEC on February 13, 2024 by The Vanguard Group Inc., a registered investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E). The Vanguard Group has sole dispositive power over 11,974,323 shares of our common stock and shared dispositive power over 68,550 shares of our common stock. The address of The Vanguard Group is 100 Vanguard Blvd., Malvern, PA 19355. |
4. | Includes 194,414 shares issuable upon exercise of stock options exercisable within 60 days of April 8, 2024. |
5. | Includes 107,664 shares issuable upon exercise of stock options exercisable within 60 days of April 8, 2024. |
6. | Includes 180,664 shares issuable upon exercise of stock options exercisable within 60 days of April 8, 2024. |
7. | Includes 139,064 shares issuable upon exercise of stock options exercisable within 60 days of April 8, 2024. |
8. | Includes 180,664 shares issuable upon exercise of stock options exercisable within 60 days of April 8, 2024. |
9. | Includes (i) 2,191,745 shares issuable upon exercise of stock options exercisable within 60 days of April 8, 2024, (ii) 44,723 shares from RSU awards that are scheduled to vest and be released within 60 days of April 8, 2024 and (iii) 410 shares owned by Mr. Robin’s spouse. |
10. | Includes (i) 180,664 shares issuable upon exercise of stock options exercisable within 60 days of April 8, 2024 and (ii) 71,500 shares held in trusts for Mr. Whitfield’s children under which Mr. Whitfield is the sole trustee. |
11. | Includes (i) 598,287 shares issuable upon exercise of stock options exercisable within 60 days of April 8, 2024, (ii) 16,978 shares from RSU awards that are scheduled to vest and be released within 60 days of April 8, 2024 and (iii) 6,107 shares issued pursuant to our Amended and Restated Employee Stock Purchase Plan. |
12. | Includes (i) 1,709,878 shares issuable upon exercise of stock options exercisable within 60 days of April 8, 2024 and (ii) 15,663 shares from RSU awards that are scheduled to vest and be released within 60 days of April 8, 2024. |
Name | | | Audit | | | Organization and Compensation | | | Nominating and Corporate Governance |
Jeff Ajer | | | X | | | | | X | |
Diana M. Brainard, M.D. | | | | | | | |||
Robert B. Chess | | | | | | | |||
Myriam J. Curet, M.D. | | | | | X | | | ||
Karin Eastham | | | X(1) | | | X | | | |
R. Scott Greer | | | X | | | X(1) | | | X |
Howard W. Robin | | | | | | | |||
Roy A. Whitfield | | | X | | | | | X(1) | |
Total meetings in the 2022 fiscal year | | | 5 | | | 5 | | | 3 |
Name | | | Audit | | | Organization and Compensation | | | Nominating and Corporate Governance |
Jeff Ajer | | | X | | | | | X | |
Diana M. Brainard, M.D. | | | | | X | | | ||
Robert B. Chess | | | | | | | |||
Myriam J. Curet, M.D. | | | | | X | | | ||
R. Scott Greer | | | X* | | | X*(1) | | | X |
Howard W. Robin | | | | | | | |||
Roy A. Whitfield | | | X | | | | | X* | |
Total meetings in the 2023 fiscal year | | | 5 | | | 5 | | | 3 |
Committee |
(1) | Mr. Greer served as Chairperson of the Organization and Compensation until December 31, 2023. Effective January 1, 2024, Dr. Brainard serves as the Chairperson of the Organization and Compensation Committee. |
| Board Size: | | ||||||||||||
| Total Number of Directors | | | 8 | | |||||||||
| Gender: | | | Female | | | Male | | | Non-Binary | | | Did not disclose Gender | |
| Number of directors based on gender identity | | | 3 | | | 5 | | | — | | | — | |
| Number of directors who identify in any of the categories below: | | ||||||||||||
| African American or Black | | | — | | | — | | | — | | | — | |
| Alaskan Native or American Indian | | | — | | | — | | | — | | | — | |
| Asian | | | — | | | — | | | — | | | — | |
| Hispanic or Latinx | | | 1 | | | — | | | — | | | — | |
| Native Hawaiian or Pacific Islander | | | — | | | — | | | — | | | — | |
| White | | | 3 | | | 5 | | | — | | | — | |
| Two or More Races or Ethnicities | | | 1 | | | — | | | — | | | — | |
| LGBTQ+ | | | — | |
| Board Size: | | ||||||||||||
| Total Number of Directors | | | 7 | | |||||||||
| Gender: | | | Female | | | Male | | | Non-Binary | | | Did not disclose Gender | |
| Number of directors based on gender identity | | | 2 | | | 5 | | | — | | | — | |
| Number of directors who identify in any of the categories below: | | ||||||||||||
| African American or Black | | | — | | | — | | | — | | | — | |
| Alaskan Native or American Indian | | | — | | | — | | | — | | | — | |
| Asian | | | — | | | — | | | — | | | — | |
| Hispanic or Latinx | | | 1 | | | — | | | — | | | — | |
| Native Hawaiian or Pacific Islander | | | — | | | — | | | — | | | — | |
| White | | | 1 | | | 5 | | | — | | | — | |
| Two or More Races or Ethnicities | | | — | | | — | | | — | | | — | |
| LGBTQ+ | | | — | |
Name(1) (a) | | | Fees Earned or Paid in Cash ($) (b) | | | Stock Awards ($)(2) (c) | | | Option Awards ($)(3) (d) | | | All Other Compensation (e) | | | Total ($) (f) |
Jeff Ajer | | | 93,250 | | | 35,394 | | | 46,849 | | | 0 | | | 175,493 |
Diana Brainard, M.D. | | | 65,000 | | | 35,394 | | | 46,849 | | | 0 | | | 147,243 |
Robert Chess | | | 131,500 | | | 35,394 | | | 46,849 | | | 0 | | | 213,743 |
Myriam Curet, M.D. | | | 76,000 | | | 35,394 | | | 46,849 | | | 0 | | | 158,243 |
Karin Eastham | | | 122,750 | | | 35,394 | | | 46,849 | | | 0 | | | 204,993 |
R. Scott Greer | | | 115,500 | | | 35,394 | | | 46,849 | | | 0 | | | 197,743 |
Roy A. Whitfield | | | 126,750 | | | 35,394 | | | 46,849 | | | 0 | | | 208,993 |
Name(1) (a) | | | Fees Earned or Paid in Cash ($) (b) | | | Stock Awards ($) (c) | | | Option Awards ($)(2) (d) | | | All Other Compensation (e) | | | Total ($) (f) |
Jeff Ajer | | | 92,000 | | | — | | | 42,220 | | | — | | | 134,220 |
Diana Brainard, M.D. | | | 70,500 | | | — | | | 42,220 | | | — | | | 112,720 |
Robert Chess | | | 134,000 | | | — | | | 42,220 | | | — | | | 176,220 |
Myriam Curet, M.D. | | | 76,000 | | | — | | | 42,220 | | | — | | | 118,220 |
Karin Eastham(3) | | | 62,000 | | | — | | | — | | | — | | | 62,000 |
R. Scott Greer | | | 128,000 | | | — | | | 42,220 | | | — | | | 170,220 |
Roy A. Whitfield | | | 128,000 | | | — | | | 42,220 | | | — | | | 170,220 |
(1) | Mr. Robin, our President and Chief Executive Officer, is not included in this table as he was an employee of the Company in |
(2) |
Amounts reported represent the aggregate grant date fair value of option awards computed in accordance with FASB ASC Topic 718, which excludes the effects of estimated forfeitures. For a complete description of the assumptions made in determining the valuation, please refer to Note |
(3) | Ms. Eastham’s term as a director expired on June 8, 2023. As of December 31, 2023, Ms. Eastham has 82,200 stock options outstanding. |
Name | | | Title |
Howard W. Robin | | | President and Chief Executive Officer |
| | Interim Chief Financial Officer | |
Mark A. Wilson | | | Chief Legal Officer |
Jonathan Zalevsky, Ph.D. | | | Chief Research and Development Officer |
Jillian B. Thomsen(2) | | | Former Chief Financial Officer and Chief Accounting Officer |
(1) | Ms. |
(2) | Ms. Thomsen served as our Chief Financial Officer and Chief Accounting Officer |
• | Base salaries – No merit adjustments were made to executive base salaries, |
• | Alignment of CEO bonus to |
• | Annual cash incentives for NEOs – Our NEOs, |
• | Long-term Incentives – |
• | Performance-Based Compensation – We believe that a significant portion of our |
• | Peer Group Alignment – |
• | Enhanced disclosures – In order to provide transparency for our stockholders and assist them in understanding the alignment between NEO pay and performance of corporate objectives, we have continued to provide enhanced disclosures concerning long-term incentive and short-term incentive grants, including specific targets and achievements met by the Company. |
Base Salary | | | Base salaries are set to be competitive within our industry with consideration for, among other things, an individual’s responsibilities, market data and individual contribution. In |
Annual Cash Incentives | | | Annual incentives are intended to motivate and reward executives for the achievement of important short-term goals and milestones that we believe contribute to the creation of long-term stockholder value. In |
| | ||
Long-Term Equity Incentives | | | Our long-term incentives, which include performance-based vesting equity awards and time-based vesting equity awards, are intended to motivate executives to deliver long-term stockholder value and to retain our talented executive team. In |
What We Do | | | What We Don’t Do |
Deliver executive compensation primarily through performance-based pay | | | Hedging transactions, share pledging, or short sales by employees or directors |
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Utilize equity awards of which a majority are performance-based and designed to deliver long term stockholder value | | | Permit repricing of stock options without shareholder approval |
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Have a clawback policy covering cash and equity incentive compensation | | | Provide excessive perquisites |
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Conduct a regular peer group review | | | Provide funded pension or retirement plans (other than a matching contribution of up to $12,000 for 401(k) plan participants that we make available to all employees) |
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What We Do | | | What We Don’t Do |
Use a double trigger in our Change-in-Control (CIC) severance plan | | | Provide excise tax gross-ups on CIC payments |
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Have stock ownership guidelines applicable to our senior executive officers | | | Accelerate vesting of equity awards on termination (unless in connection with a change of control of the Company) |
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Utilize independent compensation consulting firm | | | Include the value of equity awards in severance calculations |
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Conduct a regular review of share utilization for equity compensation | | | Enter into fixed employment terms |
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Design our programs to mitigate undue risk | | | |
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Conduct an annual say-on-pay vote and regular shareholder outreach | | |
• | Alignment with Long-Term Stockholder Value Creation. Our compensation model is designed to align the economic interests of our executives with long-term stockholder value creation. Under our program, in |
• | Pay for Performance. The objective of our executive compensation program is to deliver compensation above industry median for exceptional performance and deliver compensation below the median in performance periods where the Company does not perform well. We will also link each NEOs’ annual merit equity award to an assessment of individual performance or the achievement of what we believe to be rigorous and objective performance achievement milestones or criteria (such as filing of an IND for an investigation drug candidate). |
• | Total Rewards Program. The total compensation program must balance pay for performance elements with selected static non-performance-based elements in order to create a total rewards program that is competitive and will help us attract and retain highly qualified and motivated executives. |
• | Flexible Approach. The level of compensation provided to executives must take into account each executive’s role, experience, tenure, performance and expected contributions to our future success. |
• | Focus on Achievement of Fundamental Business Goals. The compensation program should be structured so that executives are appropriately incentivized to achieve our short- and long-term goals that are viewed as fundamental to driving long-term value in our business. |
4D Molecular Therapeutics | | | BioAtla | | | Kodiak Sciences |
Alector | | | | | ||
Allakos | | | | | Olema Pharmaceuticals | |
Alpine Immune Sciences | | | Erasca | | | ORIC Pharmaceuticals |
ALX Oncology | | | Gossamer bio | | | RAPT Therapeutics. |
Annexon | | | IGM Biosciences | | | |
Aura Biosciences | | | Kezar Life Sciences | | |
* | Was included in the 2021 and 2022 peer group. |
Name | | | 2021 | | | 2022 | | | 2023 | | | 2022 to 2023 % Increase |
Howard W. Robin | | | $1,053,000 | | | $1,084,590 | | | $1,084,590 | | | 0% |
Jillian B. Thomsen(1) | | | — | | | $494,000 | | | $550,000 | | | 11.3% |
Mark A. Wilson(2) | | | $500,000 | | | $515,000 | | | $540,000 | | | 4.8% |
Jonathan Zalevsky, Ph.D. | | | $683,000 | | | $703,490 | | | $703,490 | | | 0% |
Gil M. Labrucherie(3) | | | $788,000 | | | $811,640 | | | — | | | — |
John Northcott(4) | | | $675,000 | | | $695,250 | | | — | | | — |
Name | | | 2022 | | | 2023 | | | 2024 | | | 2023 to 2024 % Increase |
Howard W. Robin | | | $1,084,590 | | | $1,084,590 | | | $1,084,590 | | | 0% |
Sandra Gardiner(1) | | | — | | | — | | | — | | | — |
Mark A. Wilson | | | $540,000(3) | | | $540,000 | | | $540,000 | | | 0% |
Jonathan Zalevsky, Ph.D. | | | $703,490 | | | $703,490 | | | $703,490 | | | 0% |
Jillian B. Thomsen(2) | | | $550,000(4) | | | $550,000 | | | — | | | — |
(1) | Ms. Gardiner was appointed our Interim Chief Financial Officer as of April 17, 2023 and provides services as Interim Chief Financial Officer as an outside consultant pursuant to a consulting agreement between the Company and FLG Partners and is not employed or directly compensated by us, as further described under “Certain Relationships and Related Party Transactions.” |
(2) | Ms. Thomsen served as our Chief Financial Officer and Chief Accounting Officer from July 1, 2022 to April 17, 2023, and her employment with the Company ended on June 16, 2023. Additional information regarding the compensation Ms. Thomsen received in 2023 is reported in the Summary Compensation Table—Fiscal 2021-2023. |
(3) | Mr. Wilson previously served as our General Counsel. Mr. Wilson was appointed our Chief Legal Officer as of July 1, 2022 and received a promotion-based increase to his salary that was made effective as of July 1, 2022. His 2022 base salary prior to July 1, 2022 was $515,000. |
(4) | Ms. Thomsen previously served as our Senior Vice President, Finance and Chief Accounting Officer. Ms. Thomsen was appointed our Chief Financial Officer and Chief Accounting Officer as of July 1, |
| | 2021 Target Annual Incentives | | | 2022 Target Annual Incentives | |
Name | | | (% of Base Salary) | | | (% of Base Salary) |
Howard W. Robin | | | 100% | | | 100% |
Jillian B. Thomsen(1) | | | — | | | 60% |
Mark A. Wilson | | | 50% | | | 60% |
Jonathan Zalevsky, Ph.D. | | | 60% | | | 60% |
| | 2023 Target Annual Incentives | | | 2024 Target Annual Incentives | |
Name | | | (% of Base Salary) | | | (% of Base Salary) |
Howard W. Robin | | | 100% | | | 100% |
Sandra Gardiner(1) | | | — | | | — |
Mark A. Wilson | | | 60% | | | 60% |
Jonathan Zalevsky, Ph.D. | | | 60% | | | 60% |
Jillian B. Thomsen(2) | | | 60% | | | — |
(1) | Ms. Gardiner does not participate in our Incentive Compensation Plan. |
(2) | Ms. Thomsen |
| Category | | | Weight | | | Objective | | | Results(1) | | | Category Raw Score | | | Category Weighted Score | |
| Bempegaldesleukin Regulatory | | | 35% | | | Acceptance of regulatory filings for bempegaldesleukin in melanoma | | | (c) | | | 0.0(2) | | | 0.0 | |
| Acceptance of regulatory filings for bempegaldesleukin in renal cell carcinoma or bladder cancer | | | (c) | | ||||||||||||
| Complete regulatory inspections in connection with the bempegaldesleukin program | | | (c) | | ||||||||||||
| Commercial Readiness | | | 10% | | | Various objectives that achieve bempegaldesleukin commercial readiness in the U.S. | | | (b) | | | 0.5 – 0.7(3) | | | 0.05 – 0.07 | |
| Various objectives that achieve bempegaldesleukin commercial readiness in the E.U. | | | (b) | |
| Category | | | Weight | | | Objective | | | Results(1) | | | Category Raw Score | | | Category Weighted Score | |
| Corporate | | | 20% | | | Secure rights to rezpegaldesleukin | | | (a)(2) | | | 1 | | | .20 | |
| Complete 2023 corporate restructuring | | | (a)(3) | | ||||||||||||
| Achieve year-end cash target | | | (a)(4) | | ||||||||||||
| Development | | | 25% | | | Advance clinical study of rezpegaldesleukin in atopic dermatitis | | | (a)(5) | | | 1 | | | .25 | |
| Advance clinical study of rezpegaldesleukin in other indications | | | (a)(6) | | ||||||||||||
| Advance clinical studies of NKTR-255 in oncology | | | (a)(7) | | ||||||||||||
| Research | | | 15% | | | Engage contract research organizations to continue research development | | | (a)(8) | | | 1 | | | 0.15 | |
| Advance research pipeline candidates | | | (a)(9) | | ||||||||||||
| Manufacturing/ Process Development | | | 15% | | | Ensure near term supply of rezpegaldesleukin | | | (a)(10) | | | .87 - .93 | | | 0.13-0.14 | |
| Support toxicology studies for other pipeline candidates | | | (b)(11) | | ||||||||||||
| Business Development | | | 25% | | | Various objectives related to business development | | | (a)(12) | | | 0.64-0.76 | | | 0.16-0.19 | |
| Reduce real estate obligations | | | (b)(13) | | ||||||||||||
| Establish a global collaboration for NTKR-255 | | | (b)(14) | | ||||||||||||
| | | | | | | Corporate Performance Rating Range | | | 0.89-0.93 | |
| Category | | | Weight | | | Objective | | | Results(1) | | | Category Raw Score | | | Category Weighted Score | |
| Clinical Development | | | 25% | | | Advance enrollment for a registrational study of bempegaldesleukin in lung cancer | | | (b)(4) | | | 0.72 – 0.80 | | | 0.18 – 0.20 | |
| Advance enrollment for a registrational study of bempegaldesleukin in head and neck cancer | | | (c)(2) | | ||||||||||||
| Advance enrollment for a registrational study of bempegaldesleukin in melanoma | | | (a)(5) | | ||||||||||||
| Advance clinical studies of NKTR-255 | | | (a)(6) | | ||||||||||||
| Research | | | 10% | | | Advance a new drug development candidate to support an IND filing in 2023 | | | (a)(7) | | | 1.00 | | | 0.10 | |
| Identify a new drug development candidate for next development program | | | (a)(8) | | ||||||||||||
| Manufacturing | | | 10% | | | Develop commercial product and manufacturing process for NKTR-255 | | | (b) | | | 0.6 – 0.7(9) | | | 0.06 – 0.07 | |
| Develop toxicology supplies for NKTR-288 | | | (b) | | ||||||||||||
| Corporate and Business Development | | | 10% | | | Various objectives related to corporate organization and employee development goals | | | (a)(10) | | | 1.1 – 1.3 | | | 0.11 – 0.13 | |
| Establish new strategic collaborations | | | (a)(11) | | ||||||||||||
| | | | Corporate Performance Rating Range | | | 0.50 – 0.57 | |
(1) | (a) met or exceeded; (b) partially |
(2) | Objective was |
(3) |
(4) | Objective was |
(5) | Objective was met. |
(6) | Objective was met. |
(7) | Objective was met. |
(8) | Objective was met. |
(9) |
(10) | Objective was met. |
(11) | Partially met. Prioritized toxicology studies for NKTR-1065 drug candidate. |
(12) | Objective was |
(13) | Partially met. Continued efforts to sublease certain portions of our unused office facilities. |
(14) | Partially met Executed a new clinical study collaboration with AbelZeta to study NKTR-255 in combination with AbelZeta’s TIL therapy in NSCLC patients. |
Name | | | Individual Performance Highlights |
Howard W. Robin | | | • Focused the Company on advancing the development of rezpegaldesleukin. |
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Mark Wilson | | | • Led the strategy for our complaint filed against Lilly and successfully defended the Company against other litigation exposure. |
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Jonathan Zalevsky, Ph.D. | | | • Led the • |
| | 2022 Target Annual Incentives | | | 2022 Earned Annual Incentives | |||||||
Name | | | (% of Base Salary) | | | ($) | | | (% of Target Bonus) | | | ($) |
Howard W. Robin | | | 100% | | | $1,084,590 | | | 60% | | | $650,754 |
Jillian B. Thomsen | | | 60% | | | $330,000 | | | 60% | | | $198,000 |
Mark A. Wilson | | | 60% | | | $324,000 | | | 60% | | | $194,400 |
Jonathan Zalevsky, Ph.D. | | | 60% | | | $422,094 | | | 60% | | | $253,256 |
Name | | | 2023 Target Annual Incentives | | | 2023 Earned Annual Incentives | ||||||
| (% of Base Salary) | | | ($) | | | (% of Target Bonus) | | | ($) | ||
Howard W. Robin | | | 100% | | | $1,084,590 | | | 95% | | | $1,030,361 |
Mark A. Wilson | | | 60% | | | $324,000 | | | 95% | | | $307,800 |
Jonathan Zalevsky, Ph.D. | | | 60% | | | $422,094 | | | 95% | | | $400,989 |
Jillian B. Thomsen(1) | | | 60% | | | $330,000 | | | 0% | | | $0 |
(1) | Ms. Thomsen served as our Chief Financial Officer and Chief Accounting Officer from July 1, 2022 to April 17, 2023, and her employment with the Company terminated on June 16, 2023. As discussed further below, she did not receive any annual incentive compensation for 2023. |
| | Time-based Awards (50%) | | | Performance-based Awards (50%) | |||||||
Name | | | Stock Options (#) | | | RSUs (#) | | | Stock Options (#) | | | RSUs (#) |
Howard W. Robin | | | 821,250 | | | 410,625 | | | 821,250 | | | 410,625 |
Jillian B. Thomsen | | | 331,875 | | | 165,938 | | | 331,875 | | | 165,938 |
Mark A. Wilson | | | 331,875 | | | 165,938 | | | 331,875 | | | 165,938 |
Jonathan Zalevsky, Ph.D. | | | 270,000 | | | 135,000 | | | 270,000 | | | 135,000 |
| | Stock Options (Number of Shares(#)) | ||||
Name | | | Time-based Awards (#) (50%) | | | Performance-based Awards (#) (50%) |
Howard W. Robin | | | 1,300,000 | | | 1,300,000 |
Mark A. Wilson | | | 325,000 | | | 325,000 |
Jonathan Zalevsky, Ph.D. | | | 250,000 | | | 250,000 |
Name and Principal Position (a) | | Year (b) | | Salary ($) (c) | | Bonus ($) (d) | | Stock Awards ($)(4)(6)(7)(8)(9) (e) | | Option Awards ($)(5)(6)(8)(9) (f) | | Non-Equity Incentive Plan Compensation ($)(10) (g) | | All Other Compensation ($) (i) | | Total Compensation ($) (j) | | Year (b) | | Salary ($) (c) | | Bonus ($) (d) | | Stock Awards ($)(3)(6)(7)(8) (e) | | Option Awards ($)(4)(5)(6)(7) (f) | | Non-Equity Incentive Plan Compensation ($)(9) (g) | | All Other Compensation ($) (i) | | Total Compensation ($) (j) | ||||||||||||||||
Howard W. Robin President and Chief Executive Officer | | | 2022 | | 1,084,590 | | | 4,032,225 | | 5,409,410 | | 650,754 | | 98,821(11) | | 11,275,830 | | | 2023 | | 1,084,590 | | — | | — | | 927,160 | | 1,030,361 | | 93,465(10) | | 3,135,576 | |||||||||||||||
| 2021 | | 1,053,000 | | | 5,691,794 | | 3,326,492 | | 1,000,350 | | 81,980 | | 11,153,616 | | 2022 | | 1,084,590 | | — | | 4,032,255 | | 5,409,410 | | 650,754 | | 98,821 | | 11,275,830 | ||||||||||||||||||
| 2020 | | 1,053,000 | | | 4,996,266 | | 4,004,108 | | 1,092,000 | | 95,775 | | 11,241,149 | | 2021 | | 1,053,000 | | — | | 5,691,794 | | 3,326,492 | | 1,000,350 | | 81,980 | | 11,153,616 | ||||||||||||||||||
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Jillian B. Thomsen(1) Chief Financial Officer and Chief Accounting Officer | | 2022 | | 522,200 | | | 1,629,478 | | 2,185,994 | | 198,000 | | 22,645(12) | | 4,558,317 | |||||||||||||||||||||||||||||||||
Sandra Gardiner(1) Interim Chief Financial Officer | | 2023 | | — | | — | | — | | — | | — | | 376,300(11) | | 376,300 | ||||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||
Mark A. Wilson Chief Legal Officer | | | 2022 | | 527,500 | | | 1,629,478 | | 2,185,994 | | 194,400 | | 28,093(13) | | 4,565,465 | | | 2023 | | 540,000 | | — | | — | | 231,790 | | 307,800 | | 20,878(12) | | 1,100,468 | |||||||||||||||
| 2021 | | 500,000 | | | 1,707,078 | | 998,320 | | 287,500 | | 10,763 | | 3,503,661 | | 2022 | | 527,500 | | — | | 1,629,478 | | 2,185,994 | | 194,400 | | 28,093 | | 4,565,465 | ||||||||||||||||||
| 2020 | | 500,000 | | | 1,604,292 | | 1,071,122 | | 270,000 | | 10,492 | | 3,455,906 | | 2021 | | 500,000 | | — | | 1,707,078 | | 998,320 | | 287,500 | | 10,763 | | 3,503,661 | ||||||||||||||||||
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Jonathan Zalevsky, Ph.D. Chief Research and Development Officer | | | 2022 | | 703,490 | | | 1,325,673 | | 1,778,436 | | 253,256 | | 289,625(14) | | 4,350,480 | | | 2023 | | 703,490 | | | — | | 178,300 | | 400,989 | | 490,585(13) | | 1,773,364 | ||||||||||||||||
| 2021 | | 683,000 | | | 2,391,094 | | 1,397,498 | | 471,270 | | 8,385 | | 4,951,247 | | 2022 | | 703,490 | | — | | 1,325,673 | | 1,778,436 | | 253,256 | | 289,625 | | 4,350,480 | ||||||||||||||||||
| 2020 | | 683,000 | | | 2,247,676 | | 1,501,672 | | 500,000 | | 9,149 | | 4,941,497 | | 2021 | | 683,000 | | — | | 2,391,094 | | 1,397,498 | | 471,270 | | 8,385 | | 4,951,247 | ||||||||||||||||||
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Gil M. Labrucherie(2) Former Chief Operating Officer and Chief Financial Officer | | | 2022 | | 576,733 | | | — | | — | | — | | 10,972(15) | | 587,705 | ||||||||||||||||||||||||||||||||
| 2021 | | 788,000 | | | 2,391,094 | | 1,397,498 | | 679,650 | | 23,314 | | 5,279,556 | ||||||||||||||||||||||||||||||||||
| 2020 | | 788,000 | | | 2,247,676 | | 1,501,672 | | 721,000 | | 27,574 | | 5,285,922 | ||||||||||||||||||||||||||||||||||
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John Northcott(3) Former Chief Commercial Officer | | | 2022 | | 441,662 | | | — | | — | | — | | 923,019(16) | | 1,364,681 | ||||||||||||||||||||||||||||||||
| 2021 | | 675,000 | | | 1,707,078 | | 998,320 | | 388,125 | | 7,950 | | 3,776,473 | ||||||||||||||||||||||||||||||||||
| 2020 | | 675,000 | | | 1,604,292 | | 1,071,122 | | 364,500 | | 117,884 | | 3,832,798 | ||||||||||||||||||||||||||||||||||
Jillian B. Thomsen(2) Former Chief Financial Officer and Chief Accounting Officer | | | 2023 | | 355,760 | | — | | — | | — | | — | | 883,999(14) | | 1,239,759 | |||||||||||||||||||||||||||||||
| 2022 | | 522,200 | | — | | 1,629,478 | | 2,185,994 | | 198,000 | | 22,645 | | 4,558,317 |
(1) | Ms. |
(2) | Ms. Thomsen served as our Chief Financial Officer and Chief Accounting Officer |
(3) |
Amounts reported represent the aggregate grant date fair value of RSU awards computed in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation-Stock Compensation (“FASB ASC Topic 718”), based on the closing price of the Company’s common stock on the grant date and excluding the effects of estimated forfeitures. For a complete description of the assumptions made in determining the valuation, please refer to (i) Note |
Amounts reported represent the aggregate grant date fair value of the stock options granted in the applicable year computed in accordance with FASB ASC Topic 718, which excludes the effects of estimated forfeitures. For a complete description of the assumptions made in determining the valuation, please refer to (i) Note 10 (Stock-Based Compensation) to our audited financial statements in our annual report on Form 10-K for the fiscal year ended December 31, 2023 and (ii) similar footnotes to our audited financial statements in our annual reports on Form 10-K for prior years when the awards were granted. |
(6) | 50% of the annual equity |
(7) | 63% of the annual equity awards granted to the NEOs in 2021 were performance-based with, 37% of the annual equity award granted to the NEOs in 2021 vesting only to the extent a specified performance-based vesting condition is satisfied within 5 years of grant and 19% of the annual equity award vesting at 2 and 3 years if certain total shareholder return criteria are satisfied on December 31, 2023. If the performance-based vesting condition is satisfied, then the performance-based equity awards also remain subject to a time-based vesting requirement. The amounts reported in the “Stock Awards” and “Option Awards” column of the table for 2021 include the grant date fair value of performance-based RSUs and stock options, as applicable for the year, based on the probable outcome (determined as of the grant date in accordance with generally accepted accounting principles) of the performance-based conditions applicable to the awards which assumes maximum achievement of the underlying performance conditions. |
(8) | A portion of the 2021 performance-based equity awards vest only to the extent a specified performance-based vesting condition is satisfied by June 1, 2022. Since the performance-based vesting condition was not met, all RSUs granted under such performance grants were forfeited and cancelled in 2022. However, the amounts reported in the “Stock Awards” column of the table for 2021 include the grant date fair value of such RSUs based on the probable outcome (determined as of the grant date in accordance with generally accepted accounting principles) of the performance-based conditions applicable to the awards which assumes maximum achievement of the underlying performance conditions. |
(9) |
Amounts reported for |
Includes (i) life insurance premiums of |
(11) | Consists of consulting fees paid to FLG Partners, LLC, pursuant to the Gardiner Consulting Agreement, in connection with Ms. Gardiner’s services as Interim Chief Financial Officer. |
(12) | Includes (i) life insurance premiums of |
(13) | Includes (i) life insurance premiums of |
Includes (i) life insurance premiums of |
Name (a) | | | Grant Date (b) | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards(1) | | | Estimated Future Payouts Under Equity Incentive Plan Awards(2) | | | All Other Stock Awards: Number of Shares of Stock or Units (#)(3) (i) | | | All Other Option Awards: Number of Securities Underlying Options (#)(4) (j) | | | Exercise or Base Price of Option Awards ($/sh)(5) (k) | | | Grant Date Fair Value of Stock and Option Awards ($)(6) (l) | ||||||||||||
| Threshold ($) (c) | | | Target ($) (d) | | | Maximum ($) (e) | | | Threshold (#) (f) | | | Target (#) (g) | | | Maximum (#) (h) | | ||||||||||||||||
Howard W. Robin | | | | | | | | | | | | | | | | | | | | | | | |||||||||||
Annual Incentive Award | | | N/A | | | | | 1,084,590 | | | 2,169,180 | | | | | | | | | | | | | | | ||||||||
Restricted Stock Units | | | 8/15/2022 | | | | | | | | | | | 410,625 | | | | | | | | | | | 2,016,169 | ||||||||
Restricted Stock Units | | | 8/15/2022 | | | | | | | | | | | | | | | 410,625 | | | | | | | 2,016,169 | ||||||||
Stock Options | | | 8/15/2022 | | | | | | | | | | | 821,250 | | | | | | | | | $4.91 | | | 2,704,705 | |||||||
Stock Options | | | 8/15/2022 | | | | | | | | | | | | | | | | | 821,250 | | | $4.91 | | | 2,704,705 | |||||||
| | | | | | | | | | | | | | | | | | | | | | ||||||||||||
Jillian B. Thomsen | | | | | | | | | | | | | | | | | | | | | | | |||||||||||
Annual Incentive Award | | | N/A | | | | | 330,000 | | | 660,000 | | | | | | | | | | | | | | | ||||||||
Restricted Stock Units | | | 8/15/2022 | | | | | | | | | | | 165,938 | | | | | | | | | | | 814,756 | ||||||||
Restricted Stock Units | | | 8/15/2022 | | | | | | | | | | | | | | | 165,938 | | | | | | | 814,756 | ||||||||
Stock Options | | | 8/15/2022 | | | | | | | | | | | 331,875 | | | | | | | | | $4.91 | | | 1,092,997 | |||||||
Stock Options | | | 8/15/2022 | | | | | | | | | | | | | | | | | 331,875 | | | $4.91 | | | 1,092,997 | |||||||
| | | | | | | | | | | | | | | | | | | | | | ||||||||||||
Mark A. Wilson | | | | | | | | | | | | | | | | | | | | | | | |||||||||||
Annual Incentive Award | | | N/A | | | | | 324,000 | | | 648,000 | | | | | | | | | | | | | | | ||||||||
Restricted Stock Units | | | 8/15/2022 | | | | | | | | | | | 165,938 | | | | | | | | | | | 814,756 | ||||||||
Restricted Stock Units | | | 8/15/2022 | | | | | | | | | | | | | | | 165,938 | | | | | | | 814,756 | ||||||||
Stock Options | | | 8/15/2022 | | | | | | | | | | | 331,875 | | | | | | | | | $4.91 | | | 1,092,997 | |||||||
Stock Options | | | 8/15/2022 | | | | | | | | | | | | | | | | | 331,875 | | | $4.91 | | | 1,092,997 | |||||||
| | | | | | | | | | | | | | | | | | | | | | ||||||||||||
Jonathan Zalevsky, Ph.D. | | | | | | | | | | | | | | | | | | | | | | | |||||||||||
Annual Incentive Award | | | N/A | | | | | 422,094 | | | 844,188 | | | | | | | | | | | | | | | ||||||||
Restricted Stock Units | | | 8/15/2022 | | | | | | | | | | | 135,000 | | | | | | | | | | | 662,850 | ||||||||
Restricted Stock Units | | | 8/15/2022 | | | | | | | | | | | | | | | 135,000 | | | | | | | 662,850 | ||||||||
Stock Options | | | 8/15/2022 | | | | | | | | | | | 270,000 | | | | | | | | | $4.91 | | | 889,218 | |||||||
Stock Options | | | 8/15/2022 | | | | | | | | | | | | | | | | | 270,000 | | | $4.91 | | | 889,218 |
Name (a) | | | Grant Date (b) | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards(2) | | | Estimated Future Payouts Under Equity Incentive Plan Awards(3) | | | All Other Stock Awards: Number of Shares of Stock or Units (#) (i) | | | All Other Option Awards: Number of Securities Underlying Options (#)(4) (j) | | | Exercise or Base Price of Option Awards ($/sh)(5) (k) | | | Grant Date Fair Value of Stock and Option Awards ($)(6) (l) | ||||||||||||
| Threshold ($) (c) | | | Target ($) (d) | | | Maximum ($) (e) | | | Threshold (#) (f) | | | Target (#) (g) | | | Maximum (#) (h) | | ||||||||||||||||
Howard W. Robin | | | | | | | | | | | | | | | | | | | | | | | |||||||||||
Annual Incentive Award | | | N/A | | | | | 1,084,590 | | | 2,169,180 | | | | | | | | | | | | | | | ||||||||
Stock Options | | | 12/13/2023 | | | | | | | | | | | 1,300,000 | | | | | | | | | $0.50 | | | 463,580 | |||||||
Stock Options | | | 12/13/2023 | | | | | | | | | | | | | | | | | 1,300,000 | | | $0.50 | | | 463,580 | |||||||
| | | | | | | | | | | | | | | | | | | | | | ||||||||||||
Mark A. Wilson | | | | | | | | | | | | | | | | | | | | | | | |||||||||||
Annual Incentive Award | | | N/A | | | | | 324,000 | | | 648,000 | | | | | | | | | | | | | | | ||||||||
Stock Options | | | 12/13/2023 | | | | | | | | | | | 325,000 | | | | | | | | | $0.50 | | | 115,895 | |||||||
Stock Options | | | 12/13/2023 | | | | | | | | | | | | | | | | | 325,000 | | | $0.50 | | | 115,895 | |||||||
| | | | | | | | | | | | | | | | | | | | | | ||||||||||||
Jonathan Zalevsky | | | | | | | | | | | | | | | | | | | | | | | |||||||||||
Annual Incentive Award | | | N/A | | | | | 422,094 | | | 844,188 | | | | | | | | | | | | | | | ||||||||
Stock Options | | | 12/13/2023 | | | | | | | | | | | 250,000 | | | | | | | | | $0.50 | | | 89,150 | |||||||
Stock Options | | | 12/13/2023 | | | | | | | | | | | | | | | | | 250,000 | | | $0.50 | | | 89,150 |
(1) | Ms. Gardiner did not receive any equity grants in 2023 and does not participate in our Incentive Compensation Plan. Ms. Thomsen, our former Chief Financial Officer and Chief Accounting Officer, did not receive any equity grants in 2023 because her employment with the Company ended on June 16, 2023. |
(2) | Amounts reported represent the potential short-term incentive compensation amounts payable for our |
(4) | These stock option grants are subject to a three-year monthly pro-rata time vesting requirement. |
(5) |
(6) | Refer to Note |
| | | Option Awards | | Stock Awards | | | | Option Awards | | Stock Awards | |||||||||||||||||||||||||||||||||||||||||||||||||
Name (a) | | Grant Date | | Number of Securities Underlying Unexercised Options (#) Exercisable (b) | | Number of Securities Underlying Unexercised Options (#) Unexercisable (c) | | Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#)(1) (d) | | Option Exercise Price ($) (e) | | Option Expiration Date(2) (f) | | Number of Shares or Units of Stock That Have Not Vested (#) (g) | | Market Value of Shares or Units of Stock That Have Not Vested ($)(3) (h) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) (i) | | Equity Incentive Plan Awards: Market or Payout value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(3) (j) | | Grant Date | | Number of Securities Underlying Unexercised Options (#) Exercisable (b) | | Number of Securities Underlying Unexercised Options (#) Unexercisable (c) | | Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) (d) | | Option Exercise Price ($) (e) | | Option Expiration Date(3) (f) | | Number of Shares or Units of Stock That Have Not Vested (#) (g) | | Market Value of Shares or Units of Stock That Have Not Vested ($)(4) (h) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) (i) | | Equity Incentive Plan Awards: Market or Payout value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(4) (j) | ||||||||||||||||||||
Howard W. Robin | | 12/15/2015 | | 56,250 | | | | 15.55 | | 12/14/2023 | | | | | | 12/13/2016 | | 137,500 | | | | 12.24 | | 12/12/2024 | | | | | ||||||||||||||||||||||||||||||||
| 12/15/2015 | | 56,250 | | | | 15.55 | | 12/14/2023 | | | | | | 12/13/2016 | | 137,500 | | | | 12.24 | | 12/12/2024 | | | | | |||||||||||||||||||||||||||||||||
| 12/13/2016 | | 137,500 | | | | 12.24 | | 12/12/2024 | | | | | | 12/15/2017 | | 151,250 | | | | 56.90 | | 12/14/2025 | | | | | |||||||||||||||||||||||||||||||||
| 12/13/2016 | | 137,500 | | | | 12.24 | | 12/12/2024 | | | | | | 12/15/2017 | | 151,250 | | | | 56.90 | | 12/14/2025 | | | | | |||||||||||||||||||||||||||||||||
| 12/15/2017 | | 151,250 | | | | 56.90 | | 12/14/2025 | | | | | | 12/14/2018 | | 138,350 | | | | 36.51 | | 12/13/2026 | | | | | |||||||||||||||||||||||||||||||||
| 12/15/2017 | | 151,250 | | | | 56.90 | | 12/14/2025 | | | | | | 12/14/2018 | | 138,350 | | | | 36.51 | | 12/13/2026 | | | | | |||||||||||||||||||||||||||||||||
| 12/14/2018 | | 138,350 | | | | 36.51 | | 12/13/2026 | | | | | | 12/12/2019 | | 167,650 | | | | 21.79 | | 12/11/2027 | | | | | |||||||||||||||||||||||||||||||||
| 12/14/2018 | | 138,350 | | | | 36.51 | | 12/13/2026 | | | | | | 12/12/2019 | | 167,650 | | | | 21.79 | | 12/11/2027 | | | | | |||||||||||||||||||||||||||||||||
| 12/12/2019 | | 125,742 | | 41,908(4) | | | 21.79 | | 12/11/2027 | | | | | | 12/12/2019 | | 44,600 | | | | 21.79 | | 12/11/2027 | | | | | ||||||||||||||||||||||||||||||||
| 12/12/2019 | | 125,737 | | 41,913(5) | | | 21.79 | | 12/11/2027 | | | | | | 12/18/2020 | | 142,987 | | 47,663(5) | | | 18.75 | | 12/17/2028 | | | | | |||||||||||||||||||||||||||||||
| 12/12/2019 | | 33,450 | | 11,150(5) | | | 21.79 | | 12/11/2027 | | | | | | 12/18/2020 | | | | 190,650(6) | | 18.75 | | 12/17/2028 | | | | | ||||||||||||||||||||||||||||||||
| 12/18/2020 | | 95,325 | | 95,325(5) | | | 18.75 | | 12/17/2028 | | | | | | 12/18/2020 | | | | | | | | | 106,650(8) | | 60,791 | |||||||||||||||||||||||||||||||||
| 12/18/2020 | | | | 190,650(6) | | 18.75 | | 12/17/2028 | | | | | | 12/16/2021 | | 111,875 | | 111,875(5) | | | 13.22 | | 12/15/2029 | | | | | ||||||||||||||||||||||||||||||||
| 12/18/2020 | | | | | | | 35,550(7) | | 80,343 | | | | 12/16/2021 | | | | 223,750(6) | | 13.22 | | 12/15/2029 | | | | | ||||||||||||||||||||||||||||||||||
| 12/18/2020 | | | | | | | | | 106,650(8) | | 241,029 | | 12/16/2021 | | | | | | | 42,017(7) | | 23,950 | | | |||||||||||||||||||||||||||||||||||
| 12/16/2021 | | 55,937 | | 167,813(5) | | | 13.22 | | 12/15/2029 | | | | | | 12/16/2021 | | | | | | | | | 126,050(8) | | 71,849 | |||||||||||||||||||||||||||||||||
| 12/16/2021 | | | | 223,750(6) | | 13.22 | | 12/15/2029 | | | | | | 08/15/2022 | | 365,000 | | 456,250(9) | | | 4.91 | | 08/14/2030 | | | | | ||||||||||||||||||||||||||||||||
| 12/16/2021 | | | | | | | 84,034(7) | | 189,917 | | | | 08/15/2022 | | | | 821,250(10) | | 4.91 | | 08/14/2030 | | | | | ||||||||||||||||||||||||||||||||||
| 12/16/2021 | | | | | | | | | 126,050(8) | | 284,873 | | 08/15/2022 | | | | | | | 239,532(7) | | 136,533 | | | |||||||||||||||||||||||||||||||||||
| 12/16/2021 | | | | | | | | | 84,300(9) | | 190,518 | | 08/15/2022 | | | | | | | | | 410,625(8) | | 234,056 | |||||||||||||||||||||||||||||||||||
| 08/15/2022 | | 91,250 | | 730,000(10) | | | 4.91 | | 08/14/2030 | | | | | | 12/13/2023 | | | 1,300,000(9) | | | 0.50 | | 12/12/2031 | | | | | ||||||||||||||||||||||||||||||||
| 08/15/2022 | | | | 821,250(11) | | 4.91 | | 08/14/2030 | | | | | | 12/13/2023 | | | | 1,300,000(10) | | 0.50 | | 12/12/2031 | | | | | |||||||||||||||||||||||||||||||||
| 08/15/2022 | | | | | | | 376,407(7) | | 850,680 | | | ||||||||||||||||||||||||||||||||||||||||||||||||
| 08/15/2022 | | | | | | | | | 410,625(8) | | 928,013 | ||||||||||||||||||||||||||||||||||||||||||||||||
Jillian B. Thomsen | | 12/15/2015 | | 18,750 | | | | 15.55 | | 12/14/2023 | | | | | ||||||||||||||||||||||||||||||||||||||||||||||
Sandra Gardiner(1) | | — | | — | | — | | — | | — | | — | | — | | — | | — | | — | ||||||||||||||||||||||||||||||||||||||||
Mark A. Wilson | | 7/15/2016 | | 10,000 | | | | 15.45 | | 7/14/2024 | | | | | ||||||||||||||||||||||||||||||||||||||||||||||
| 12/15/2015 | | 18,750 | | | | 15.55 | | 12/14/2023 | | | | | | 12/13/2016 | | 20,000 | | | | 12.24 | | 12/12/2024 | | | | | |||||||||||||||||||||||||||||||||
| 12/13/2016 | | 37,500 | | | | 12.24 | | 12/12/2024 | | | | | | 12/15/2017 | | 110,000 | | | | 56.90 | | 12/14/2025 | | | | | |||||||||||||||||||||||||||||||||
| 12/13/2016 | | 37,500 | | | | 12.24 | | 12/12/2024 | | | | | | 12/15/2017 | | 42,000 | | | | 56.90 | | 12/14/2025 | | | | | |||||||||||||||||||||||||||||||||
| 12/15/2017 | | 26,250 | | | | 56.90 | | 12/14/2025 | | | | | | 12/14/2018 | | 10,225 | | | | 36.51 | | 12/13/2026 | | | | | |||||||||||||||||||||||||||||||||
| 12/15/2017 | | 26,250 | | | | 56.90 | | 12/14/2025 | | | | | | 12/12/2019 | | 35,800 | | | | 21.79 | | 12/11/2027 | | | | | |||||||||||||||||||||||||||||||||
| 12/14/2018 | | 22,150 | | | | 36.51 | | 12/13/2026 | | | | | | 12/12/2019 | | 35,800 | | | | 21.79 | | 12/11/2027 | | | | | |||||||||||||||||||||||||||||||||
| 12/14/2018 | | 22,150 | | | | 36.51 | | 12/13/2026 | | | | | | 12/12/2019 | | 11,600 | | | | 21.79 | | 12/11/2027 | | | | | |||||||||||||||||||||||||||||||||
| 12/12/2019 | | 19,952 | | 6,648(4) | | | 21.79 | | 12/11/2027 | | | | | | 12/18/2020 | | 38,250 | | 12,750(5) | | | 18.75 | | 12/17/2028 | | | | | |||||||||||||||||||||||||||||||
| 12/12/2019 | | 19,950 | | 6,650(5) | | | 21.79 | | 12/11/2027 | | | | | | 12/18/2020 | | | | 51,000(6) | | 18.75 | | 12/17/2028 | | | | | ||||||||||||||||||||||||||||||||
| 12/12/2019 | | 8,850 | | 2,950(5) | | | 21.79 | | 12/11/2027 | | | | | | 12/18/2020 | | | | | | | | | 28,550(8) | | 16,274 | |||||||||||||||||||||||||||||||||
| 12/18/2020 | | 14,300 | | 14,300(5) | | | 18.75 | | 12/17/2028 | | | | | | 12/16/2021 | | 33,575 | | 33,575(5) | | | 13.22 | | 12/15/2029 | | | | | |||||||||||||||||||||||||||||||
| 12/18/2020 | | | | 28,600(6) | | 18.75 | | 12/17/2028 | | | | | | 12/16/2021 | | | | 67,150(6) | | 13.22 | | 12/15/2029 | | | | | |||||||||||||||||||||||||||||||||
| 12/18/2020 | | | | | | | 5,334(7) | | 12,055 | | | | 12/16/2021 | | | | | | | 12,600(7) | | 7,182 | | | |||||||||||||||||||||||||||||||||||
| 12/18/2020 | | | | | | | | | 16,000(8) | | 36,160 | | 12/16/2021 | | | | | | | | | 37,800(8) | | 21,546 | |||||||||||||||||||||||||||||||||||
| 08/15/2022 | | 147,500 | | 184,375(9) | | | 4.91 | | 08/14/2030 | | | | | ||||||||||||||||||||||||||||||||||||||||||||||
| 08/15/2022 | | | | 331,875(10) | | 4.91 | | 08/14/2030 | | | | | |||||||||||||||||||||||||||||||||||||||||||||||
| 08/15/2022 | | | | | | | 96,798(7) | | 55,175 | | | ||||||||||||||||||||||||||||||||||||||||||||||||
| 08/15/2022 | | | | | | | | | 165,938(8) | | 94,585 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 12/13/2023 | | | 325,000(9) | | | 0.50 | | 12/12/2031 | | | | | |||||||||||||||||||||||||||||||||||||||||||||||
| 12/13/2023 | | | | 325,000(10) | | 0.50 | | 12/12/2031 | | | | |
| | | | Option Awards | | | Stock Awards | |||||||||||||||||||||||
Name (a) | | | Grant Date | | | Number of Securities Underlying Unexercised Options (#) Exercisable (b) | | | Number of Securities Underlying Unexercised Options (#) Unexercisable (c) | | | Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#)(1) (d) | | | Option Exercise Price ($) (e) | | | Option Expiration Date(2) (f) | | | Number of Shares or Units of Stock That Have Not Vested (#) (g) | | | Market Value of Shares or Units of Stock That Have Not Vested ($)(3) (h) | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) (i) | | | Equity Incentive Plan Awards: Market or Payout value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(3) (j) |
| | 12/16/2021 | | | 9,400 | | | 28,200(5) | | | | | 13.22 | | | 12/15/2029 | | | | | | | | | ||||||
| | 12/16/2021 | | | | | | | 37,600(6) | | | 13.22 | | | 12/15/2029 | | | | | | | | | |||||||
| | 12/16/2021 | | | | | | | | | | | | | 14,134(7) | | | 31,943 | | | | | ||||||||
| | 12/16/2021 | | | | | | | | | | | | | | | | | 21,200(8) | | | 47,912 | ||||||||
| | 12/16/2021 | | | | | | | | | | | | | | | | | 14,200(9) | | | 32,092 | ||||||||
| | 08/15/2022 | | | 36,875 | | | 295,000(10) | | | | | 4.91 | | | 08/14/2030 | | | | | | | | | ||||||
| | 08/15/2022 | | | | | | | 331,875(11) | | | 4.91 | | | 08/14/2030 | | | | | | | | | |||||||
| | 08/15/2022 | | | | | | | | | | | | | 152,110(7) | | | 343,769 | | | | | ||||||||
| | 08/15/2022 | | | | | | | | | | | | | | | | | 165,938(8) | | | 375,020 | ||||||||
Mark A. Wilson | | | 12/15/2015 | | | 15,000 | | | | | | | 15.55 | | | 12/14/2023 | | | | | | | | | ||||||
| | 7/15/2016 | | | 10,000 | | | | | | | 15.45 | | | 7/14/2024 | | | | | | | | | |||||||
| | 12/13/2016 | | | 20,000 | | | | | | | 12.24 | | | 12/12/2024 | | | | | | | | | |||||||
| | 12/15/2017 | | | 110,000 | | | | | | | 56.90 | | | 12/14/2025 | | | | | | | | | |||||||
| | 12/15/2017 | | | 42,000 | | | | | | | 56.90 | | | 12/14/2025 | | | | | | | | | |||||||
| | 12/14/2018 | | | 10,225 | | | | | | | 36.51 | | | 12/13/2026 | | | | | | | | | |||||||
| | 12/12/2019 | | | 26,854 | | | 8,946(4) | | | | | 21.79 | | | 12/11/2027 | | | | | | | | | ||||||
| | 12/12/2019 | | | 26,850 | | | 8,950(5) | | | | | 21.79 | | | 12/11/2027 | | | | | | | | | ||||||
| | 12/12/2019 | | | 8,700 | | | 2,900(5) | | | | | 21.79 | | | 12/11/2027 | | | | | | | | | ||||||
| | 12/18/2020 | | | 25,500 | | | 25,500(5) | | | | | 18.75 | | | 12/17/2028 | | | | | | | | | ||||||
| | 12/18/2020 | | | | | | | 51,000(6) | | | 18.75 | | | 12/17/2028 | | | | | | | | | |||||||
| | 12/18/2020 | | | | | | | | | | | | | 9,517(7) | | | 21,509 | | | | | ||||||||
| | 12/18/2020 | | | | | | | | | | | | | | | | | 28,550(8) | | | 64,523 | ||||||||
| | 12/16/2021 | | | 16,787 | | | 50,363(5) | | | | | 13.22 | | | 12/15/2029 | | | | | | | | | ||||||
| | 12/16/2021 | | | | | | | 67,150(6) | | | 13.22 | | | 12/15/2029 | | | | | | | | | |||||||
| | 12/16/2021 | | | | | | | | | | | | | | | | | 25,300(9) | | | 57,178 | ||||||||
| | 12/16/2021 | | | | | | | | | | | | | 25,200 (7) | | | 56,952 | | | | | ||||||||
| | 12/16/2021 | | | | | | | | | | | | | | | | | 37,800(8) | | | 85,428 | ||||||||
| | 08/15/2022 | | | 36,875 | | | 295,000(10) | | | | | 4.91 | | | 08/14/2030 | | | | | | | | | ||||||
| | 08/15/2022 | | | | | | | 331,875(11) | | | 4.91 | | | 08/14/2030 | | | | | | | | | |||||||
| | 08/15/2022 | | | | | | | | | | | | | 152,110(7) | | | 343,769 | | | | | ||||||||
| | 08/15/2022 | | | | | | | | | | | | | | | | | 165,938(8) | | | 375,020 | ||||||||
| | | | | | | | | | | | | | | | | | | | |||||||||||
Johnathan Zalevsky, Ph.D. | | | 7/31/2015 | | | 21,875 | | | | | | | 12.61 | | | 7/30/2023 | | | | | | | | | ||||||
| | 12/15/2015 | | | 29,688 | | | | | | | 15.55 | | | 12/14/2023 | | | | | | | | | |||||||
| | 5/31/2016 | | | 37,500 | | | | | | | 15.44 | | | 5/30/2024 | | | | | | | | | |||||||
| | 11/15/2016 | | | 46,875 | | | | | | | 13.93 | | | 11/14/2024 | | | | | | | | | |||||||
| | 12/13/2016 | | | 15,500 | | | | | | | 12.24 | | | 12/12/2024 | | | | | | | | | |||||||
| | 3/16/2017 | | | 21,250 | | | | | | | 15.71 | | | 3/14/2025 | | | | | | | | | |||||||
| | 4/18/2017 | | | 36,459 | | | | | | | 18.585 | | | 4/17/2025 | | | | | | | | | |||||||
| | 6/15/2017 | | | 77,084 | | | | | | | 18.09 | | | 6/14/2025 | | | | | | | | | |||||||
| | 11/15/2017 | | | 87,500 | | | | | | | 43.07 | | | 11/14/2025 | | | | | | | | | |||||||
| | 12/15/2017 | | | 37,625 | | | | | | | 56.90 | | | 12/14/2025 | | | | | | | | | |||||||
| | 12/14/2018 | | | 48,400 | | | | | | | 36.51 | | | 12/13/2026 | | | | | | | | | |||||||
| | 12/14/2018 | | | 48,400 | | | | | | | 36.51 | | | 12/13/2026 | | | | | | | | | |||||||
| | 10/01/2019 | | | 118,750 | | | 31,250(5) | | | | | 18.43 | | | 9/30/2027 | | | | | | | | | ||||||
| | 12/12/2019 | | | 53,662 | | | 17,888(5) | | | | | 21.79 | | | 12/11/2027 | | | | | | | | | ||||||
| | 12/12/2019 | | | 53,669 | | | 17,881(4) | | | | | 21.79 | | | 12/11/2027 | | | | | | | | | ||||||
| | 12/12/2019 | | | 15,075 | | | 5,025(5) | | | | | 21.79 | | | 12/11/2027 | | | | | | | | |
| | | | Option Awards | | | Stock Awards | |||||||||||||||||||||||
Name (a) | | | Grant Date | | | Number of Securities Underlying Unexercised Options (#) Exercisable (b) | | | Number of Securities Underlying Unexercised Options (#) Unexercisable (c) | | | Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#)(1) (d) | | | Option Exercise Price ($) (e) | | | Option Expiration Date(2) (f) | | | Number of Shares or Units of Stock That Have Not Vested (#) (g) | | | Market Value of Shares or Units of Stock That Have Not Vested ($)(3) (h) | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) (i) | | | Equity Incentive Plan Awards: Market or Payout value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(3) (j) |
| | 12/18/2020 | | | 35,750 | | | 35,750(5) | | | | | 18.75 | | | 12/17/2028 | | | | | | | | | ||||||
| | 12/18/2020 | | | | | 71,500(6) | | | | | 18.75 | | | 12/17/2028 | | | | | | | | | |||||||
| | 12/18/2020 | | | | | | | | | | | | | 13,334(7) | | | 30,135 | | | | | ||||||||
| | 12/18/2020 | | | | | | | | | | | | | | | | | 40,000(8) | | | 90,400 | ||||||||
| | 12/16/2021 | | | 23,500 | | | 70,500(5) | | | | | 13.22 | | | 12/15/2029 | | | | | | | | | ||||||
| | 12/16/2021 | | | | | | | 94,000(6) | | | 13.22 | | | 12/15/2029 | | | | | | | | | |||||||
| | 12/16/2021 | | | | | | | | | | | | | 35,300(7) | | | 79,778 | | | | | ||||||||
| | 12/16/2021 | | | | | | | | | | | | | | | | | 52,950(8) | | | 119,667 | ||||||||
| | 12/16/2021 | | | | | | | | | | | | | | | | | 35,400(9) | | | 80,004 | ||||||||
| | 08/15/2022 | | | 30,000 | | | 240,000(10) | | | | | 4.91 | | | 08/14/2030 | | | | | | | | | ||||||
| �� | 08/15/2022 | | | | | | | 270,000(11) | | | 4.91 | | | 08/14/2030 | | | | | | | | | |||||||
| | 08/15/2022 | | | | | | | | | | | | | 123,750(7) | | | 279,675 | | | | | ||||||||
| | 08/15/2022 | | | | | | | | | | | | | | | | | 135,000(8) | | | 305,100 |
| | | | Option Awards | | | Stock Awards | |||||||||||||||||||||||
Name (a) | | | Grant Date | | | Number of Securities Underlying Unexercised Options (#) Exercisable (b) | | | Number of Securities Underlying Unexercised Options (#) Unexercisable (c) | | | Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) (d) | | | Option Exercise Price ($) (e) | | | Option Expiration Date(3) (f) | | | Number of Shares or Units of Stock That Have Not Vested (#) (g) | | | Market Value of Shares or Units of Stock That Have Not Vested ($)(4) (h) | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) (i) | | | Equity Incentive Plan Awards: Market or Payout value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(4) (j) |
Jonathan Zalevsky | | | 5/31/2016 | | | 37,500 | | | | | | | 15.44 | | | 5/30/2024 | | | | | | | | | ||||||
| | 11/15/2016 | | | 46,875 | | | | | | | 13.93 | | | 11/14/2024 | | | | | | | | | |||||||
| | 12/13/2016 | | | 15,500 | | | | | | | 12.24 | | | 12/12/2024 | | | | | | | | | |||||||
| | 3/16/2017 | | | 21,250 | | | | | | | 15.71 | | | 3/14/2025 | | | | | | | | | |||||||
| | 4/18/2017 | | | 36,459 | | | | | | | 18.585 | | | 4/17/2025 | | | | | | | | | |||||||
| | 6/15/2017 | | | 77,084 | | | | | | | 18.09 | | | 6/14/2025 | | | | | | | | | |||||||
| | 11/15/2017 | | | 87,500 | | | | | | | 43.07 | | | 11/14/2025 | | | | | | | | | |||||||
| | 12/15/2017 | | | 37,625 | | | | | | | 56.90 | | | 12/14/2025 | | | | | | | | | |||||||
| | 12/14/2018 | | | 48,400 | | | | | | | 36.51 | | | 12/13/2026 | | | | | | | | | |||||||
| | 12/14/2018 | | | 48,400 | | | | | | | 36.51 | | | 12/13/2026 | | | | | | | | | |||||||
| | 10/01/2019 | | | 150,000 | | | | | | | 18.43 | | | 9/30/2027 | | | | | | | | | |||||||
| | 12/12/2019 | | | 71,550 | | | | | | | 21.79 | | | 12/11/2027 | | | | | | | | | |||||||
| | 12/12/2019 | | | 71,550 | | | | | | | 21.79 | | | 12/11/2027 | | | | | | | | | |||||||
| | 12/12/2019 | | | 20,100 | | | | | | | 21.79 | | | 12/11/2027 | | | | | | | | | |||||||
| | 12/18/2020 | | | 53,625 | | | 17,875(5) | | | | | 18.75 | | | 12/17/2028 | | | | | | | | | ||||||
| | 12/18/2020 | | | | | | | 71,500(6) | | | 18.75 | | | 12/17/2028 | | | | | | | | | |||||||
| | 12/18/2020 | | | | | | | | | | | | | | | | | 40,000(8) | | | 22,800 | ||||||||
| | 12/16/2021 | | | 47,000 | | | 47,000(5) | | | | | 13.22 | | | 12/15/2029 | | | | | | | | | ||||||
| | 12/16/2021 | | | | | | | 94,000(6) | | | 13.22 | | | 12/15/2029 | | | | | | | | | |||||||
| | 12/16/2021 | | | | | | | | | | | | | 17,650(7) | | | 10,061 | | | | | ||||||||
| | 12/16/2021 | | | | | | | | | | | | | | | | | 52,950(8) | | | 30,182 | ||||||||
| | 08/15/2022 | | | 120,000 | | | 150,000(9) | | | | | 4.91 | | | 08/14/2030 | | | | | | | | | ||||||
| | 08/15/2022 | | | | | | | 270,000(10) | | | 4.91 | | | 08/14/2030 | | | | | | | | | |||||||
| | 08/15/2022 | | | | | | | | | | | | | 78,750(7) | | | 44,888 | | | | | ||||||||
| | 08/15/2022 | | | | | | | | | | | | | | | | | 135,000(8) | | | 76,950 | ||||||||
| | 12/13/2023 | | | | | 250,000(9) | | | | | 0.50 | | | 12/12/2031 | | | | | | | | | |||||||
| | 12/13/2023 | | | | | | | 250,000(10) | | | 0.50 | | | 12/12/2031 | | | | | | | | | |||||||
Jillian B. Thomsen(2) | | | 12/13/2016 | | | 37,500 | | | | | | | 12.24 | | | 6/16/2024 | | | | | | | | | ||||||
| | 12/13/2016 | | | 37,500 | | | | | | | 12.24 | | | 6/16/2024 | | | | | | | | | |||||||
| | 12/15/2017 | | | 26,250 | | | | | | | 56.90 | | | 6/16/2024 | | | | | | | | | |||||||
| | 12/15/2017 | | | 26,250 | | | | | | | 56.90 | | | 6/16/2024 | | | | | | | | | |||||||
| | 12/14/2018 | | | 22,150 | | | | | | | 36.51 | | | 6/16/2024 | | | | | | | | | |||||||
| | 12/14/2018 | | | 22,150 | | | | | | | 36.51 | | | 6/16/2024 | | | | | | | | | |||||||
| | 12/12/2019 | | | 23,276 | | | | | | | 21.79 | | | 6/16/2024 | | | | | | | | | |||||||
| | 12/12/2019 | | | 23,275 | | | | | | | 21.79 | | | 6/16/2024 | | | | | | | | | |||||||
| | 12/12/2019 | | | 10,325 | | | | | | | 21.79 | | | 6/16/2024 | | | | | | | | | |||||||
| | 12/18/2020 | | | 17,279 | | | | | | | 18.75 | | | 6/16/2024 | | | | | | | | | |||||||
| | 12/16/2021 | | | 14,100 | | | | | | | 13.22 | | | 6/16/2024 | | | | | | | | | |||||||
| | 8/15/2022 | | | 92,187 | | | | | | | 4.91 | | | 6/16/2024 | | | | | | | | |
(1) |
(2) | Ms. Thomsen served as our Chief Financial Officer and Chief Accounting Officer from July 1, 2022 to April 17, 2023, and her employment with the Company ended on June 16, 2023. All stock options and RSUs awarded to Ms. Thomsen that were unvested as of June 16, 2023, were forfeited. |
(3) | For all NEOs, except for Ms. Thomsen, the expiration date shown is the normal expiration date occurring on the eighth anniversary of the grant date, which is the latest date that the stock options may be exercised. Stock options may terminate earlier in certain |
Restricted stock unit market value is calculated based on |
(5) | The stock options vest pro-rata on a monthly basis over a period of four years from the date of grant, subject to the executive’s continued service through each vesting date. |
(6) | The stock options vest only after achievement of specified performance criteria and pro-rata monthly vesting over a four-year period from the date of grant, subject to the executive’s continued service through each vesting date. |
(7) | The RSUs vest pro-rata on a quarterly basis over a three-year period from the date of grant. |
(8) | The RSUs vest only after achievement of specified performance criteria and pro-rata quarterly vesting over a three-year period from the date of grant, subject to the executive’s continued service through each vesting date. |
(9) |
The stock options vest pro-rata on a monthly basis over a period of three years from the date of grant, subject to the executive’s continued service through each vesting date. |
The stock options vest only after achievement of specified performance criteria and pro-rata monthly vesting over a three-year period from the date of grant, subject to the executive’s continued service through each vesting date. |
| | Option Awards | | | Stock Awards | |||||||
Name (a) | | | Number of Shares Acquired on Exercise (#) (b) | | | Value Realized on Exercise ($) (c)(1) | | | Number of Shares Acquired on Vesting (#) (d) | | | Value Realized on Vesting ($) (e)(2) |
Howard W. Robin | | | — | | | — | | | 243,219 | | | 1,251,856 |
Jillian B. Thomsen | | | — | | | — | | | 47,151 | | | 232,340 |
Mark A. Wilson | | | — | | | — | | | 49,399 | | | 267,909 |
Jonathan Zalevsky, Ph.D. | | | — | | | — | | | 111,808 | | | 612,857 |
Gil M. Labrucherie3 | | | — | | | — | | | 70,233 | | | 429,739 |
John Northcott4 | | | — | | | — | | | 36,059 | | | 273,504 |
| | Option Awards | | | Stock Awards | |||||||
Name (a) | | | Number of Shares Acquired on Exercise (#) (b) | | | Value Realized on Exercise ($) (c)(1) | | | Number of Shares Acquired on Vesting (#) (d) | | | Value Realized on Vesting ($) (e)(2) |
Howard W. Robin | | | — | | | — | | | 214,442 | | | 279,186 |
Sandra Gardiner | | | — | | | — | | | — | | | — |
Mark A. Wilson | | | — | | | — | | | 77,429 | | | 100,806 |
Jonathan Zalevsky, Ph.D. | | | — | | | — | | | 75,984 | | | 98,925 |
Jillian B. Thomsen(3) | | | — | | | — | | | 33,857 | | | 65,572 |
(1) | The value realized upon the exercise of stock options is calculated by (a) subtracting the stock option exercise price from the market price on the date of exercise to get the realized value per share, and (b) multiplying the realized value per share by the number of shares underlying the stock options exercised. |
(2) | The value realized upon vesting of RSUs is calculated by multiplying the number of RSUs vested by the market price on the vest date. |
(3) | Information provided up until |
Executive & Triggering Event | | | Estimated Value of Cash Severance ($) | | | Estimated Value of COBRA Benefits ($)(1) | | | Estimated Value of Vesting Acceleration ($)(2) | | | Estimated Value of Pro-Rata Bonus ($) | | | Estimated Total ($) |
Howard W. Robin | | | | | | | | | | | |||||
Without Cause or Good Reason | | | 2,169,180 | | | 54,781 | | | 0 | | | 0 | | | 2,223,961 |
Disability | | | 0 | | | N/A | | | 0 | | | 1,084,590 | | | 1,084,590 |
Death | | | 0 | | | N/A | | | 2,765,372 | | | 1,084,590 | | | 3,849,962 |
Jillian B. Thomsen | | | | | | | | | | | |||||
Without Cause or Good Reason | | | 880,000 | | | 37,851 | | | 0 | | | 0 | | | 917,851 |
Disability | | | N/A | | | N/A | | | N/A | | | N/A | | | N/A |
Death | | | 0 | | | 0 | | | 878,950 | | | 0 | | | 878,950 |
Mark A Wilson(3) | | | | | | | | | | | |||||
Without Cause or Good Reason | | | N/A | | | N/A | | | N/A | | | N/A | | | N/A |
Disability | | | N/A | | | N/A | | | N/A | | | N/A | | | N/A |
Death | | | 0 | | | 0 | | | 1,004,378 | | | 0 | | | 1,004,378 |
Johnathan Zalevsky, Ph.D.(3) | | | | | | | | | | | |||||
Without Cause or Good Reason | | | N/A | | | N/A | | | N/A | | | N/A | | | N/A |
Disability | | | N/A | | | N/A | | | N/A | | | N/A | | | N/A |
Death | | | N/A | | | N/A | | | 984,759 | | | 0 | | | 984,759 |
Gil M. Labrucherie(4) | | | | | | | | | | | |||||
Voluntary Resignation | | | 0 | | | 0 | | | 0 | | | 0 | | | 0 |
John Northcott(5) | | | | | | | | | | | |||||
Without Cause or Good Reason | | | 921,206 | | | 8,140 | | | 0 | | | 0 | | | 929,346 |
Executive & Triggering Event | | | Estimated Value of Cash Severance ($) | | | Estimated Value of COBRA Benefits ($)(1) | | | Estimated Value of Vesting Acceleration ($)(2) | | | Estimated Value of Pro-Rata Bonus ($) | | | Estimated Total ($) |
Howard W. Robin | | | | | | | | | | | |||||
Without Cause or Good Reason | | | 2,169,180 | | | 61,971 | | | — | | | — | | | 2,231,151 |
Disability | | | — | | | — | | | 338,348 | | | 1,084,590 | | | 1,422,938 |
Death | | | — | | | — | | | 676,697 | | | 1,084,590 | | | 1,761,287 |
Sandra Gardiner | | | — | | | — | | | — | | | — | | | — |
Mark A Wilson(3) | | | | | | | | | | | |||||
Without Cause or Good Reason | | | N/A | | | N/A | | | N/A | | | N/A | | | N/A |
Disability | | | — | | | — | | | — | | | — | | | — |
Death | | | — | | | — | | | 231,025 | | | — | | | 231,025 |
Johnathan Zalevsky, Ph.D.(3) | | | | | | | | | | | |||||
Without Cause or Good Reason | | | N/A | | | N/A | | | N/A | | | N/A | | | N/A |
Disability | | | — | | | — | | | — | | | — | | | — |
Death | | | — | | | — | | | 212,154 | | | — | | | 212,154 |
(1) | The value of COBRA benefits are based upon actual rates as of December |
(2) | For purposes of this table, we have assumed that (i) the price per share of our common stock is equal to the closing price per share on the last trading day of the fiscal year ended December |
(3) | Neither Dr. Zalevsky nor Mr. Wilson is a party to a letter agreement or our standard form executive employment agreement that provides for severance benefits upon certain terminations of employment that are not related to a change of control. |
Name | | | Estimated Value of Cash Severance ($) | | | Estimated Value of Welfare and Outplacement Benefits ($)(1) | | | Estimated Value of Vesting Acceleration ($)(2) | | | Estimated Amount Forfeited by Executive(3) | | | Estimated Value of Excise Tax Gross-Up ($) | | | Estimated Total ($) |
Howard W. Robin | | | 4,338,360 | | | 173,529 | | | 2,765,372 | | | — | | | 0 | | | 7,277,261 |
Jillian B. Thomsen | | | 880,000 | | | 40,862 | | | 878,950 | | | — | | | 0 | | | 1,799,812 |
Mark A. Wilson | | | 864,000 | | | 41,846 | | | 1,004,378 | | | — | | | 0 | | | 1,910,224 |
Jonathan Zalevsky, Ph.D. | | | 1,125,584 | | | 19,246 | | | 984,759 | | | — | | | 0 | | | 2,129,588 |
Name | | | Estimated Value of Cash Severance ($) | | | Estimated Value of Welfare and Outplacement Benefits ($)(1) | | | Estimated Value of Vesting Acceleration ($)(2) | | | Estimated Amount Forfeited by Executive(3) | | | Estimated Value of Excise Tax Gross-Up ($) | | | Estimated Total ($) |
Howard W. Robin | | | 4,338,360 | | | 97,956 | | | $676,789 | | | 0 | | | 0 | | | 5,113,105 |
Mark A. Wilson | | | 864,000 | | | 47,722 | | | $231,059 | | | 0 | | | 0 | | | 1,142,781 |
Jonathan Zalevsky, Ph.D. | | | 1,125,584 | | | 17,280 | | | $212,186 | | | 0 | | | 0 | | | 1,355,050 |
(1) | This amount includes estimated COBRA premiums based upon actual rates as of December |
(2) | Pursuant to the terms of our equity compensation plans, these NEOs would also have been entitled to this same full equity acceleration (i) if a corporate transaction (as defined in the applicable plan) occurred and the surviving or acquiring corporation refused to assume outstanding equity awards or substitute similar replacement awards for outstanding equity awards or (ii) upon the acquisition by any person of beneficial ownership of 50% or more of the combined voting power of our shares in a transaction that is not a corporate transaction as defined in the applicable plan. For purposes of this table, we have assumed that (i) the price per share of our common stock is equal to the closing price per share on the last trading day of the fiscal year ended December |
(3) | Executives with a gross-up provision are required to forfeit payments up to 10% if it will avoid an excise tax exposure. |
| Year | | | Summary Compensation Table Total for Howard W. Robin(1) ($) | | | Compensation Actually Paid to Howard W. Robin(1),(2),(3) ($) | | | Average Summary Compensation Table Total for Non-PEO NEOs(1) ($) | | | Average Compensation Actually Paid to Non-PEO NEOs(1),(2),(3) ($) | | | Value of Initial Fixed $100 Investment based on:(4) | | | Net Income ($ Millions) | | | Relative TSR Percentile(5) | | |||
| TSR ($) | | | Peer Group TSR ($) | | |||||||||||||||||||||
| (a) | | | (b) | | | (c) | | | (d) | | | (e) | | | (f) | | | (g) | | | (h) | | | (i) | |
| 2022 | | | 11,275,830 | | | (8,738,814) | | | 3,091,330 | | | (3,426,583) | | | 10.47 | | | 113.65 | | | (368) | | | 9th | |
| 2021 | | | 11,153,616 | | | 8,032,023 | | | 4,377,734 | | | 3,290,039 | | | 62.59 | | | 126.45 | | | (524) | | | 52nd | |
| 2020 | | | 11,241,149 | | | 6,456,336 | | | 4,379,031 | | | 2,020,372 | | | 78.76 | | | 126.42 | | | (444) | | | 30th | |
| Year | | | Summary Compensation Table Total for PEO1 ($) | | | Compensation Actually Paid to PEO1,2,3 ($) | | | Average Summary Compensation Table Total for Non-PEO NEOs1 ($) | | | Average Compensation Actually Paid to Non-PEO NEOs1,2,3 ($) | | | Value of Initial Fixed $100 Investment based on:4 | | | Net Income ($ Millions) | | | Relative TSR (Percentile Rank)5 | | |||
| TSR ($) | | | Peer Group TSR ($) | | |||||||||||||||||||||
| 2023 | | | 3,135,576 | | | (773,200) | | | 1,122,473 | | | (2,644) | | | 2.62 | | | 118.87 | | | (276) | | | 7th | |
| 2022 | | | 11,275,830 | | | (8,738,814) | | | 3,091,330 | | | (3,426,582) | | | 10.47 | | | 113.65 | | | (368) | | | 9th | |
| 2021 | | | 11,153,616 | | | 8,032,023 | | | 4,377,734 | | | 3,290,039 | | | 62.59 | | | 126.45 | | | (524) | | | 52nd | |
| 2020 | | | 11,241,149 | | | 6,456,336 | | | 4,379,031 | | | 2,020,372 | | | 78.76 | | | 126.42 | | | (444) | | | 30th | |
Howard W. Robin was our PEO for each year presented. The individuals comprising the Non-PEO NEOs for each year presented are listed below. |
| 2020 | | | 2021 | | | 2022 | | 2020-2021 | | | 2022 | | | 2023 | |
| Gil M. Labrucherie | | | Gil M. Labrucherie | | | Gil M. Labrucherie | | Gil M. Labrucherie | | | Gil M. Labrucherie | | | Jillian B. Thomsen | |
| Mark A. Wilson | | | Mark A. Wilson | | | Jillian Thomsen | | Mark A. Wilson | | | Jillian B. Thomsen | | | Sandra Gardiner | |
| Jonathan Zalevsky | | | Jonathan Zalevsky | | | Mark A. Wilson | | Jonathan Zalevsky | | | Mark A. Wilson | | | Mark A. Wilson | |
| John Northcott | | | John Northcott | | | Jonathan Zalevsky | | John Northcott | | | Jonathan Zalevsky | | | Jonathon Zalevsky | |
| | | | | John Northcott | | | | John Northcott | | | |
The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below. |
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the |
| Year | | | Summary Compensation Table Total for Howard W. Robin ($) | | | Exclusion of Stock Awards and Option Awards for Howard W. Robin ($) | | | Inclusion of Equity Values for Howard W. Robin ($) | | | Compensation Actually Paid to Howard W. Robin ($) | | Year | | | Summary Compensation Table Total for PEO ($) | | | Exclusion of Stock Awards and Option Awards for PEO ($) | | | Inclusion of Equity Values for PEO ($) | | | Compensation Actually Paid to PEO ($) | |
| 2022 | | | 11,275,830 | | | (9,441,747) | | | (10,572,897) | | | (8,738,814) | | 2023 | | | 3,135,576 | | | (927,160) | | | (2,981,616) | | | (773,200) | |
| 2021 | | | 11,153,616 | | | (9,018,286) | | | 5,896,693 | | | 8,032,023 | | ||||||||||||||
| 2020 | | | 11,241,149 | | | (9,000,374) | | | 4,215,561 | | | 6,456,336 | |
| Year | | | Average Summary Compensation Table Total for Non-PEO NEOs ($) | | | Average Exclusion of Stock Awards and Option Awards for Non-PEO NEOs ($) | | | Average Inclusion of Equity Values for Non-PEO NEOs ($) | | | Average Compensation Actually Paid to Non-PEO NEOs ($) | | Year | | | Average Summary Compensation Table Total for Non-PEO NEOs ($) | | | Average Exclusion of Stock Awards and Option Awards for Non- PEO NEOs ($) | | | Average Inclusion of Equity Values for Non-PEO NEOs ($) | | | Average Compensation Actually Paid to Non-PEO NEOs ($) | |
| 2022 | | | 3,091,330 | | | (2,147,011) | | | (4,370,902) | | | (3,426,583) | | 2023 | | | 1,122,473 | | | (102,523) | | | (1,022,594) | | | (2,644) | |
| 2021 | | | 4,377,734 | | | (3,246,995) | | | 2,159,300 | | | 3,290,039 | | ||||||||||||||
| 2020 | | | 4,379,031 | | | (3,212,381) | | | 853,722 | | | 2,020,372 | |
| Year | | | Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Howard W. Robin ($) | | | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Howard W. Robin ($) | | | Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for Howard W. Robin ($) | | | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Howard W. Robin ($) | | | Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Howard W. Robin ($) | | | Total - Inclusion of Equity Values for Howard W. Robin ($) | | Year | | | Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for PEO ($) | | | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for PEO ($) | | | Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for PEO ($) | | | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for PEO ($) | | | Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for PEO ($) | | | Total - Inclusion of Equity Values for PEO ($) | |
| 2022 | | | 3,767,091 | | | (10,961,983) | | | 323,187 | | | (3,020,288) | | | (680,904) | | | (10,572,897) | | 2023 | | | 1,071,594 | | | (3,517,124) | | | — | | | (536,086) | | | — | | | (2,981,616) | |
| 2021 | | | 9,295,631 | | | (3,098,368) | | | — | | | (300,570) | | | — | | | 5,896,693 | | ||||||||||||||||||||
| 2020 | | | 7,998,651 | | | (3,330,924) | | | — | | | (452,166) | | | — | | | 4,215,561 | |
| Year | | | Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non-PEO NEOs ($) | | | Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEOs ($) | | | Average Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for Non-PEO NEOs ($) | | | Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEOs ($) | | | Average Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Non-PEO NEOs ($) | | | Total - Average Inclusion of Equity Values for Non-PEO NEOs ($) | | Year | | | Average Year- End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non- PEO NEOs ($) | | | Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEOs ($) | | | Average Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for Non- PEO NEOs ($) | | | Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEOs ($) | | | Average Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Non-PEO NEOs ($) | | | Total - Average Inclusion of Equity Values for Non-PEO NEOs ($) | |
| 2022 | | | 856,627 | | | (1,982,867) | | | 73,492 | | | (729,142) | | | (2,589,012) | | | (4,370,902) | | 2023 | | | 118,494 | | | (633,627) | | | — | | | (104,218) | | | (403,243) | | | (1,022,594) | |
| 2021 | | | 3,346,858 | | | (1,258,934) | | | — | | | 71,376 | | | — | | | 2,159,300 | | ||||||||||||||||||||
| 2020 | | | 2,849,255 | | | (1,668,738) | | | — | | | (326,795) | | | — | | | 853,722 | |
The Peer Group TSR set forth in this table utilizes the NASDAQ Biotechnology Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our |
We determined Relative TSR |
| | Fiscal Year Ended | ||||
| | 2022 | | | 2021 | |
Audit Fees | | | $2,087,610 | | | $1,999,527 |
Audit Related Fees | | | — | | | — |
Tax Fees | | | — | | | 12,853 |
All Other Fees | | | 3,245 | | | 4,465 |
Total | | | $2,090,855 | | | $2,016,845 |
| | Fiscal Year Ended | ||||
| | 2023 | | | 2022 | |
Audit Fees | | | $1,901,271 | | | $2,087,610 |
Audit Related Fees | | | — | | | — |
Tax Fees | | | — | | | — |
All Other Fees | | | 6,147 | | | 3,245 |
Total | | | $1,907,418 | | | $2,090,855 |
| | By Order of the Board of Directors | |
| | ||
| | /s/ Mark A. Wilson | |
| | Mark A. Wilson | |
| | Senior Vice President, Chief Legal Officer and Secretary |
1. | Section 4.2(1) of the Plan is hereby deleted in its entirety and replaced with the following: |
2. | Section 4.2(a) of the Plan is hereby deleted in its entirety and replaced with the |
3. | Except as modified herein, the Plan is not modified in any respect and remains in full force and effect. |