Company: TBPH
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001104659-25-033819
Chunk: 62

Company: Theravance Biopharma, Inc.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 62
---
 own 50% or more of the voting securities of the surviving company and its parent. • A sale, transfer or other disposition of all or substantially all of our assets. • A change in the composition of our board of directors as a result of which fewer than 50% of the incumbent directors either were directors on the date twelve months prior to the change in control (the “Original Directors”) or were appointed or nominated for election to the board of directors by a majority of the Original Directors or directors whose appointment or nomination was approved by at least 50% of the Original Directors. • A transaction as a result of which any person becomes the beneficial owner of 50% or more of our outstanding voting securities. • A transaction shall not constitute a change in control if its sole purpose is to change our country or state of incorporation, as applicable, or to create a holding company that will be owned in substantially the same proportions by the persons who held our securities immediately before such transaction. In addition, a transaction shall not constitute a change in control unless it also constitutes a “change in control event” under Treasury Regulation 1.409A-3(a)(5). An “involuntary termination” for purposes of our executive severance plan means a termination of an officer’s employment for reasons other than misconduct, or an officer’s voluntary resignation following (1) a material diminution in the officer’s authority, duties or responsibilities, (2) a material reduction in the officer’s base compensation, (3) a material change in the officer’s work location or (4) a material breach of the officer’s employment agreement by us. In order to qualify as voluntary resignation for purposes of an involuntary termination, the officer must give written notice to us within 90 days after the initial existence of one of the conditions described above and such condition must not have been cured by us within 30 days thereafter. “Misconduct” for purposes of our executive severance plan means an officer’s (1) commission of any material act of fraud, embezzlement or dishonesty, (2) material unauthorized use or disclosure of confidential information or trade secrets or (3) other material intentional misconduct adversely affecting our business or affairs. The PSUs granted to our named executive officers in 2024 include provisions for assessing achievement and potential forfeiture of PSUs to the extent the performance-based conditions have not been satisfied prior to the change in control: 39

TABLE OF CONTENTS

| Assessment of Performance-Based Conditions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | ​ | ​