Company: LCTX
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0000950170-25-060090
Chunk: 54

Company: Lineage Cell Therapeutics, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 54
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 our affiliates’ employees.

As of the record date for the Meeting, we, and our affiliates, had approximately 74 employees, eight non-employee directors and approximately 100 consultants.

Administration

Our Board previously delegated concurrent authority to our Compensation Committee to administer the 2021 Plan, but may, at any time, re-vest in itself some or all of the power delegated to our Compensation Committee. Our Board and Compensation Committee are each considered to be a “Plan Administrator” for purposes of this proposal.

Subject to the terms of the 2021 Plan, the Plan Administrator determines the recipients, the types of Awards to be granted, the number of our common shares subject to or the cash value of Awards, and the terms and conditions of Awards granted under the 2021 Plan, including the period of their exercisability and vesting. The Plan Administrator also has the authority to provide for accelerated exercisability and vesting of Awards. Subject to the limitations set forth below, the Plan Administrator also determines the fair market value applicable to an Award and the exercise or strike price of stock options and stock appreciation rights granted under the 2021 Plan.

Repricing; Cancellation and Re-Grant of Awards

Under the 2021 Plan, the Plan Administrator does not have the authority to reprice any outstanding stock option or stock appreciation right by reducing the exercise or strike price of the stock option or stock appreciation right or to cancel any outstanding stock option or stock appreciation right that has an exercise or strike price greater than the then-current fair market value of our common shares in exchange for cash or other Awards without obtaining the approval of our shareholders. Such approval must be obtained within 12 months prior to such an event.

Minimum Vesting Requirements

Under the 2021 Plan, no Award may vest until at least 12 months following the date such Award was granted (excluding any Award granted to a non-employee director that vests on the earlier of the first anniversary of the grant date or Lineage’s next annual meeting of shareholders), except that shares up to 5% of the share reserve of the 2021 Plan may be issued pursuant to Awards that do not meet such vesting requirements.

Dividends and Dividend Equivalents

The 2021 Plan provides that dividends or dividend equivalents may be paid or credited with respect to any of our common shares subject to an Award, as determined by the Plan Administrator and contained in the applicable Award agreement; provided, however, that (i) no dividends or dividend equivalents may be paid with respect