Company: PGEN
Filing Date: 2025-05-16
Form Type: DEF 14A
Source: 0001140361-25-019470
Chunk: 50

Company: PRECIGEN, INC.
Filing Date: 2025-05-16
Form: DEF 14A
Chunk 50
---
 Compensation Committee believes that the incorporation of the PSUs as a component of long-term equity incentive compensation provided to the executive officers will enhance the alignment of executive compensation with long-term shareholder value creation, because the vesting of the PSUs is conditioned upon the Company’s achievement of certain key operational milestones critical to its growth and success. Accordingly, as described in more detail under “Performance-Based Awards” below, each PSU award will vest on two specific regulatory developments, 50% upon the BLA filing and 50% upon the BLA approval by the Food and Drug Administration (“FDA”). These regulatory actions are critical to the success of the Company and the Compensation Committee believes it is important to incentivize and retain these employees through these milestones. For 2024, after taking into account the overall position of the Company and with a focus on retention, cash preservation, and the desire to enhance the equity ownership positions in the Company of our executive officers in order to further align the interests with those of shareholders, the Compensation Committee, with the assistance of its independent compensation consultant in assessing the competitive market and evaluating current executive pay practices, reviewed the base salaries of our executive officers and made annual short-term incentive awards, consisting of equity in lieu of cash, based on the Company’s performance. In addition, the Compensation Committee awarded long-term incentive awards to our executive officers in the form of stock options to promote retention, increase long-term equity ownership and align executive and long-term shareholder interests by linking a portion of their compensation to changes in the Company’s stock price. Key Compensation Corporate Governance Practices The Compensation Committee and the Board regularly review evolving practices in executive compensation and corporate governance. We have adopted certain policies and practices that we believe are consistent with industry best practices, as tailored to our specific business model and strategic direction. We have also strived to adopt policies that will foster our growth and the continual realization of value to our shareholders by encouraging appropriate risk taking and entrepreneurship in support of our unique and dynamic business model. The Compensation Committee and the Board also actively scrutinize the anticipated effect of compensation practices on our ultimate goals. What We Do:

| • | The Compensation Committee has 100% independent directors. |

| • | We conduct an annual review and assessment of potential and existing risks arising from our compensation programs and policies. |

| • | The Compensation Committee engages an independent compensation consultant to advise on executive and director compensation matters. |

| • | We tie our annual bonus opportunities to corporate objectives. |

| • | We use equity awards that vest over time and performance and deliver greater