Company: VRCA
Filing Date: 2025-04-30
Form Type: DEFR14A
Source: 0001193125-25-105562
Chunk: 65

Company: Verrica Pharmaceuticals Inc.
Filing Date: 2025-04-30
Form: DEFR14A
Chunk 65
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31, 2024. None of our non-employee directors held stock awards as of December 31, 2024. |

| (3) | Mr. Ballaron resigned as a director effective October 2, 2024. The fees earned or paid in cash shown includes prorated amounts he received for service as a director for the year ended December 31, 2024. |

Non-EmployeeDirector Compensation Policy Our Board of Directors adopted a non-employeedirector compensation policy that became effective in June 2018 in connection with our initial public offering. Our Board of Directors most recently amended the policy in February 2024. Pursuant to our policy, each of our directors who is not an employee of our company or affiliated with an entity that beneficially owns 5% or more of our outstanding shares of common stock are eligible to receive compensation for service on our Board of Directors and committees of our Board of Directors. Mr. Prygocki, Dr. Nguyen, Dr. Eichenfield and Dr. Corcoran are eligible directors. Each eligible director receives an annual cash retainer of $40,000 for serving on our Board of Directors. The chairperson of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee of our Board is entitled an additional annual cash retainer of $20,000, $15,000 and $10,000, respectively. The members of each of the Audit, Compensation and Nominating and Corporate Governance Committees of our Board of Directors, who are not the chairpersons of such committees, are entitled an additional annual cash retainer of $5,000. All annual cash compensation amounts will be payable in equal quarterly installments in advance within the first 30 days of each quarter in which the service will occur. 46

In addition, each new eligible director who joins our Board of Directors will be granted a non-statutory stock option to purchase 17,502 shares of common stock under our 2018 Plan, with one-third of the shares vesting on the first anniversary of the date of grant and the remaining shares vesting in 24 equal monthly installments thereafter, subject to continued service as a director through the applicable vesting date.

On the date of each annual meeting of our stockholders, each eligible director who continues to serve as a director of our company following the meeting will be granted a non-statutory stock option to purchase 20,000 shares of our common stock under our 2018 Plan, vesting in 12