Seattle Genetics, Inc. 2015–2016 Executive Officer and Director Compensation Disclosure
This document outlines the annual base salaries, bonuses, and target bonus percentages for 2015 and 2016 for executive officers of Seattle Genetics, Inc. It also details the compensation structure for non-employee directors, including cash retainers and equity awards for board and committee service. The information is intended to disclose the company's executive and director compensation practices for the specified years.
Exhibit 10.46
Executive Officer Compensation Information
The following table sets forth the annual base salary rates for 2015 and 2016 for the executive officers of Seattle Genetics, Inc. (the “Company”), in each case based on full-time employment status. The table below also sets forth the bonuses awarded to the Company’s executive officers for the 2015 fiscal year under the Company’s 2015 Senior Executive Annual Bonus Plan. The 2016 target bonuses (based on a percentage of annual base pay as of December 31, 2016) for the Company’s executive officers under the Company’s 2016 Senior Executive Annual Bonus Plan are also set forth in the table below.
| Name and Title | 2015 Annual Base Salary Rate | 2015 Bonus | 2016 Annual Base Salary Rate | 2016 Target Bonus Percentage | ||||||||||||
| Clay B. Siegall, Ph.D. | $ | 815,000.00 | $ | 1,018,750.00 | $ | 855,750.00 | 100 | % | ||||||||
| President & Chief Executive Officer | ||||||||||||||||
| Todd E. Simpson | $ | 458,550.00 | $ | 268,252.00 | $ | 476,900.00 | 50 | % | ||||||||
| Chief Financial Officer | ||||||||||||||||
| Eric L. Dobmeier | $ | 512,550.00 | $ | 312,656.00 | $ | 535,614.75 | 50 | % | ||||||||
| Chief Operating Officer | ||||||||||||||||
| Jonathan Drachman | $ | 487,800.00 | $ | 304,875.00 | $ | 512,200.00 | 50 | % | ||||||||
| Chief Medical Officer and Executive Vice President, Research and Development | ||||||||||||||||
| Vaughn Himes | $ | 408,650.00 | $ | 226,188.00 | $ | 435,000.00 | 45 | % | ||||||||
| Executive Vice President, Process Sciences and Technical Operations | ||||||||||||||||
| Darren Cline | $ | 400,000.00 | $ | 196,800.00 | $ | 440,000.00 | 45 | % | ||||||||
| Executive Vice President, Commercial | ||||||||||||||||
| Jean Liu | $ | 413,450.00 | $ | 217,681.00 | $ | 442,950.00 | 45 | % | ||||||||
| Executive Vice President, Legal Affairs & General Counsel | ||||||||||||||||
Director Compensation Information
The following table sets forth the compensation components for non-employee members of the Company’s Board of Directors for 2015 and 2016, including equity awards.
| Compensation Element | 2015 | 2016 | ||||||
| General Board Service – Cash Retainer | $ | 50,000 | $ | 50,000 | ||||
| General Board Service – Equity | ||||||||
| Initial Grant – Number of Options | 13,275 | 13,275 | ||||||
| Initial Grant – Number of Restricted Stock Units | 5,310 | 5,310 | ||||||
| Annual Grant – Number of Shares | 9,260 | 9,260 | ||||||
| Annual Grant – Number of Restricted Stock Units | 3,700 | 3,700 | ||||||
| Chair Service – Annual Retainer | ||||||||
| Lead Director | $ | 25,000 | $ | 25,000 | ||||
| Audit | $ | 20,000 | $ | 20,000 | ||||
| Compensation | $ | 15,000 | $ | 15,000 | ||||
| Nominating & Governance | $ | 10,000 | $ | 10,000 | ||||
| Committee Member Service – Annual Retainer | ||||||||
| Audit | $ | 10,000 | $ | 10,000 | ||||
| Compensation | $ | 8,000 | $ | 8,000 | ||||
| Nominating & Governance | $ | 5,000 | $ | 5,000 | ||||
