Company: PRTA
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001559053-25-000009
Chunk: 192

Company: PROTHENA CORP PUBLIC LTD CO
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 192
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 2012 LTIP expire no later than ten years from the date of grant.In May 2024, the Company’s shareholders approved an amendment to the 2018 LTIP to increase the number of ordinary shares available for issuance under the 2018 LTIP by 2,000,000 ordinary shares. As of December 31, 2024, the number of ordinary shares authorized under the 2018 LTIP was 16,620,433. Upon adoption of the 2018 LTIP, no new awards are permitted under the 2012 LTIP.As of December 31, 2024, the number of ordinary shares authorized under the 2020 EIIP was 1,485,000 and 341,584 ordinary shares remained available for future awards under the 2020 EIIP. The Company’s Board of Directors has adopted a 

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series of amendments to increase the ordinary shares available for issuance under the 2020 EIIP and it reserves the right to both amend the 2020 EIIP to increase the number of ordinary shares available and make additional awards to key new hires. The Company’s option awards generally vest over four years, while RSUs vest over two years. As of December 31, 2024, 4,218,801 ordinary shares remained available for grant under its equity plans.Share-based Compensation ExpenseShare-based compensation expense recorded in these Consolidated Financial Statements for the years ended December 31, 2024, 2023 and 2022, was based on awards granted under the 2012 LTIP, the 2018 LTIP, and the 2020 EIIP. The estimated forfeiture rate as of December 31, 2024 was 7%. Changes in our estimates and assumptions relating to forfeitures may cause us to realize changes in stock-based compensation expense in the future.The amount of unearned share-based compensation related to unvested stock options at December 31, 2024, is $74.5 million. The weighted-average period over which this unearned share-based compensation is expected to be recognized is 2.54 years.The following table summarizes share-based compensation expense for the periods presented (in thousands):Year Ended December 31,202420232022Research and development$20,931 $19,211 $14,805 General and administrative25,033 21,703 16,517 Total share-based compensation expense$45,964 $40,914 $31,322 The