Company: PGEN
Filing Date: 2025-05-06
Form Type: PRE 14A
Source: 0001140361-25-017535
Chunk: 75

Company: PRECIGEN, INC.
Filing Date: 2025-05-06
Form: PRE 14A
Chunk 75
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 limitation, an entity that as a result of that Business Combination owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions relative to each other as their ownership, immediately prior to that Business Combination, of the voting stock of the Company; |

| iii. | a sale or other disposition of all or substantially all of the assets of the Company; |

| iv. | approval by the shareholders of the Company of a complete liquidation or dissolution of the Company; or |

| v. | during any period of two consecutive years, the Incumbent Board ceases to constitute a majority of the Board. |

Notwithstanding the foregoing, a Change in Control shall only be deemed to have occurred with respect to a Participant in connection with the time or form of payment of an Award that is subject to Section 409A of the Code (or as otherwise required for the 409A Award to be in compliance with Section 409A of the Code) if the Change in Control otherwise constitutes a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company, within the meaning of Section 409A of the Code.

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In addition, our stock option and RSU award agreements with our named executive officers provide for the full vesting of the awards in the event of termination by reason of the named executive officer’s death or disability. PSU Provisions Under the terms of the PSUs granted in 2024, in the event of a termination of the executive’s employment by the Company without Cause or by the executive with Good Reason (each as defined in the applicable award agreement), a pro-rata portion of the PSUs that are outstanding as of the termination date will remain outstanding and eligible to vest upon the earlier of (i) the achievement and certificate of a Milestone or (ii) a Change in Control (as described below). If the executive’s employment is terminated due to death or disability (as defined in the award agreement), any portion of the PSUs that are outstanding as of the termination date will remain outstanding and eligible to vest upon the earlier of (i) the achievement and certification of a Milestone or (ii) a Change in Control. In the event of a termination of employment for any other reason, any portion of the PSUs that are not vested and earned as of the termination date will be forfeited. In the event of a Change in Control (as defined