2014 Equity Incentive Plan for Executive Officers
This agreement outlines the 2014 Equity Incentive Plan, which grants equity awards to executive officers of the company. The plan provides for non-qualified stock options and time-based restricted stock units, specifying the number of shares awarded to each executive. The vesting schedule is over four years, with 50% of the awards vesting after two years and the remaining 50% vesting in equal parts over the next two years. The plan aims to incentivize and retain key executives through equity compensation.
Exhibit 10.3
2014 Equity Incentive Plan
The 2014 Equity Incentive Plan provides for the issuance of equity incentive awards in the form of (i) non-qualified stock options; and (ii) time-based restricted stock units.
| Executive Officer | Time-Based Restricted Stock Units (# shares) | Non-Qualified Stock Options (# shares) | ||||||
| Douglas Bryant President and Chief Executive Officer | 4,243 | 93,021 | ||||||
| Robert Bujarski Senior Vice President, Business Development and General Counsel | 1,305 | 28,621 | ||||||
| Mark Smits Senior Vice President, Commercial Operations, North America | 1,523 | 33,392 | ||||||
| Timothy Stenzel Chief Scientific Officer | 725 | 15,901 | ||||||
| Randall Steward Chief Financial Officer | 1,741 | 38,162 | ||||||
| John Tamerius Senior Vice President, Clinical and Regulatory Affairs | 961 | 21,068 | ||||||
The vesting period for the non-qualified stock options and restricted stock units is over four years with the first 50% of such equity awards vesting at the end of the second-year anniversary of the grant date and the remainder vesting 25% annually on each of the following two anniversaries thereafter.
