Company: CRVO
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001437749-25-013543
Chunk: 45

Company: CervoMed Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 45
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 the following cash retainers, pro-rated for any director serving a partial year term as further described under the heading, “—Summary Director Compensation Table.”

| Description                                                             |     | Annual        
 Cash Retainer |        |
|:------------------------------------------------------------------------|:----|:--------------|-------:|
| Board Member                                                            |     | $             | 40,000 |
| Chair of the Board                                                      |     | $             | 25,000 |
| Audit Committee Chair                                                   |     | $             | 15,000 |
| Compensation Committee Chair                                            |     | $             | 10,000 |
| Nominating and Corporate Governance Committee Chair                     |     | $             |  8,000 |
| Audit Committee Member (other than Chair)                               |     | $             |  7,500 |
| Compensation Committee Member (other than Chair)                        |     | $             |  5,000 |
| Nominating and Corporate Governance Committee Member (other than Chair) |     | $             |  4,000 |

The annual cash retainers are paid in regular installments in accordance with the Company’s standard payroll practices. The Compensation Committee has also reserved the right to make a portion of such payments in the form of equity rather than cash under certain conditions. During the fiscal year ended December 31, 2024, all retainers were paid in cash.

Long-Term Equity-Based Incentive Compensation

In addition to cash compensation, our non-employee directors receive long-term equity-based incentive compensation in the form of options to purchase shares of our common stock. Upon a non-employee director’s initial appointment to the Board, the director receives a stock option award exercisable for a number of shares equal to 0.176% of the Company’s total shares outstanding on the grant date vesting in 36 equal monthly installments following his or her appointment to the Board. Each non-employee director also receives, on an annual basis, a stock option award exercisable for a number of shares equal to 0.088% of the Company’s total shares outstanding on the grant date (or such lesser amount as the Board may determine) vesting in 12 equal monthly installments following the grant date.

All option awards granted to our non-employee directors have a ten-year term and an exercise price equal to the fair market value of our common stock on the grant date.

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Summary Director Compensation Table

The table below provides summary information concerning the compensation of