Company: KROS
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001104659-25-037982
Chunk: 48

Company: Keros Therapeutics, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 48
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 named executive officers’ base salaries for 2024 increased between 3% and 8% as compared to 2023 amounts, which is aligned with actions we have taken across the Company and reflected the Company’s performance when target 2024 compensation was approved in early 2024. • Annual Cash Performance Bonus : We increased the target bonus award opportunity for Dr. Seehra for 2024, from 50.0% to 65.0%, in recognition of Dr. Seehra’s continued significant individual contributions to the Company. We did not increase target bonus award opportunities for our other named executive officers for 2024. The Compensation Committee determined that our 2024 performance goals were achieved at 110% and paid performance-based bonuses at 110% of target to each of Mr. Regnante, Dr. Chyung and Mr. Rovaldi. Dr. Chyung received an additional bonus due to his significant individual contributions to the Company. The Board used its discretion to cap Dr. Seehra’s performance-based bonus at 100% of target considering that all stock options issued in 2024 were deeply under water at the time of the annual bonus payout certification. • Long-Term Incentive Awards : In 2024, we granted equity awards to our named executive officers in the form of four-year time-vesting stock options in order to incentivize and reward them for stockholder value creation. We introduced performance-vesting stock options as part of our Chief Executive Officer’s compensation program for the first time. Specifically, we granted 50% of the shares subject to Dr. Seehra’s 2024 annual option award in the form of a stock option that is eligible to vest contingent upon achievement of two rigorous pipeline development goals. As of the date of this Proxy Statement, 100% of the 2024 stock options granted to all named executive officers are deeply underwater and the performance goals relating to Dr. Seehra’s performance-vesting option have not been met. • Early 2025 Compensation Changes: in February 2025, we did not increase Dr. Seehra’s 2025 base salary and did not increase the 2025 target annual bonus opportunity for any of our continuing named executive officers. We approved 2025 base salary increases of 5% and 7% for each of Mr. Regnante and Rovaldi, respectively, and did not increase Dr. Chyung’s base salary. We granted annual equity awards to