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Tuesday, October 19, 2021 8:11:02 AM

Re: Minnesinger post# 378665

Post# of 389876
I wasn't quite right about this:
"All they've done so far is describe what they CAN do."

That only relates to the 2016 Plan amendments.

The following is a done deal:
"Annual Stock Option Awards — The Compensation Committee approved stock option awards under the Plan relating to one million shares of common stock to each independent director and 500,000 shares of common stock to each of the non-independent director and the Company's Senior Vice President, Clinical Sciences and Portfolio Management."

Those are THIS YEAR'S awards. Note that the Directors are getting options and LE and JH are getting stock.
Also note that the Annual Stock Option Awards don't seem to be annual. They didn't happen in the last fiscal year and the plan doesn't call for Annual awards but it does allow for them.


From the FORM of the Company's executive employment agreement:
2.6 Annual Equity Award.
With respect to each fiscal year of the Company ending during the term of Executive’s employment and commencing with the fiscal year ending June 30, 20___, Executive shall be eligible to receive annual equity awards under the Company’s 2016 Omnibus Incentive Plan or any successor plan, with a target award of options to purchase _________ shares of the Company’s common stock with an exercise price equal to the last closing price of the Company’s common stock prior to the date of grant, which options shall vest ratably each month over the ___ months following the date of grant.

A curiosity: The 2016 Incentive Plan was approved the same day that Bertolino was hired.
JH has been receiving options annually like clockwork since her hiring in 2016 based on some calculation. Now that LE has an agreement perhaps he will as well.

These "awards" seem to be granted at the will of the "board" under a "plan" that allows for it. They're hard to keep track of. Filing of the actual employment agreements, versus the FORM of the agreements, might make it doable.
The director's compensation doesn't seem to be fixed in form or amount.



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