Company: ANTX
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0000950170-25-052852
Chunk: 30

Company: AN2 Therapeutics, Inc.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 30
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 those of our peer group of companies. The 2024 base salaries for our named executive officers are reflected in the table above, as adjusted throughout the year.

Non-Equity Incentive Plan Compensation

Each of our named executive officers was eligible to receive an annual incentive bonus based on the attainment of corporate objectives for the fiscal year ended December 31, 2024, payouts under which were approved by our Board in February 2025. Each named executive officer’s target bonus is expressed as a percentage of their respective base salaries. For fiscal year end 2024, the target bonus for each of Mr. Easom, Mr. Eizen, Ms. Day, and Dr. Eckburg was 55%, 40%, 40%, and 40% of his or her base salary, respectively. Our compensation committee has the authority, in its sole discretion and at any time, to increase, reduce or eliminate a participant’s actual award, and/or increase, reduce or eliminate the amount allocated to the bonus pool for a particular performance period. In February 2025, the Board assessed Company performance against our 2024 corporate goals and, based on such performance, awarded a cash annual incentive bonus to each of Mr. Easom, Mr. Eizen and Ms. Day equal to 75% of his or her target bonus amount for 2024. Dr. Eckburg was not eligible for a bonus for 2024 given his departure as an employee in August 2024.

The actual amount of the cash bonuses awarded to each named executive officer for 2024 performance are set forth above in the Summary Compensation Table in the column titled “Non-Equity Incentive Plan Compensation.”

Equity-Based Incentive Awards

Our equity-based incentive awards are designed to align our interests and those of our stockholders with those of our employees and consultants, including our executive officers. Our Board or an authorized committee thereof is responsible for approving equity grants. Historically, we have generally used stock options as long-term incentive compensation for our executive officers. Stock options allow our executive officers to profit from this form of equity compensation only if our stock price increases relative to the stock option’s exercise price, which exercise price is set at the fair market value of our common stock on the date of grant. In 2024, we made our first grants of RSUs to our executive officers.

We may grant equity awards at such times as our Board or compensation committee determines appropriate. Our executive officers generally are awarded an initial grant in the