Nuvation Bio Inc. Non-Employee Director Compensation Policy (May 2021)
This policy outlines the compensation for non-employee directors of Nuvation Bio Inc. as of May 2021. Non-employee directors receive annual cash retainers, with additional payments for serving as Board Chair or on Board committees. Directors also receive stock options: new directors are granted options valued at $650,000 (vesting over three years), while continuing directors receive annual options valued at $325,000 (vesting over one year). The policy specifies the amounts for each role and committee position.
NON-EMPLOYEE DIRECTOR COMPENSATION
Annual Cash Compensation
The annual cash compensation payable to non-employee directors of Nuvation Bio Inc., or Nuvation Bio, in effect as of May 2021 when Nuvation Bio’s board of directors approved the terms of a new non-employee director compensation policy, is as follows:
Retainer |
| Amount |
Board Member Compensation |
|
|
Board Member |
| $40,000 |
Chair of the Board (additional retainer) |
| $30,000 |
Additional Committee Chair Compensation |
|
|
Audit Committee |
| $15,000 |
Compensation Committee |
| $10,000 |
Nominating and Corporate Governance Committee |
| $8,000 |
Additional Committee Member (non-Chair) Compensation |
|
|
Audit Committee |
| $7,500 |
Compensation Committee |
| $5,000 |
Nominating and Corporate Governance Committee |
| $4,000 |
Equity Compensation
In addition, each non-employee director who joins Nuvation Bio’s board of directors receives an option to purchase shares of Nuvation Bio Class A common stock having a grant-date fair value of $650,000, vesting over three years of service, and each continuing non-employee director receives an annual option to purchase shares of Nuvation Bio Class A common stock having a grant-date fair value of $325,000, vesting over one year of service.
