Company: ARVN
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001655759-25-000075
Chunk: 84

Company: ARVINAS, INC.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 84
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 our non-employee directors for reasonable travel and other expenses incurred in connection with attending our board of director and committee meetings.

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In addition, under our director compensation program, as amended in June 2023, each non-employee director receives under the 2018 Plan, upon his or her initial election to our board of directors, equity having an aggregate grant date fair value of $750,000 as calculated by the company in accordance with ASC Topic 718, with two-thirds of the value of such award being issued as an option to purchase common stock, or the Initial Option Grant, and one-third of the value of such award being issued in RSUs, or the Initial RSU Grant, subject to the maximum annual compensation limits set forth in the program and such other limits as may be set forth in the 2018 Plan. Subject to the non-employee director’s continued service as a director, (a) the Initial Option Grant will vest with respect to 1/36th of the shares of common stock subject thereto at the end of each successive one-month period following the grant date until the third anniversary of the grant date and (b) the Initial RSU Grant will vest annually over three years until the third anniversary of the grant date, and in the event of a change in control of the Company, the vesting schedule of the Initial Option Grant and the Initial RSU Grant will accelerate in full. The exercise price of the Initial Option Grant will be equal to the fair market value of the common stock on the date of grant, which shall be the closing trading price.

Further, on the date of each of our annual meetings of stockholders, each non-employee director who has served on our board of directors for at least six months receives, under the 2018 Plan, equity having an aggregate grant date fair value of $375,000 as calculated by the company in accordance with ASC Topic 718, with two-thirds of the value of such award being issued as an option to purchase common stock, or the Annual Option Grant, and one-third of the value of such award being issued in RSUs, or the Annual RSU Grant, subject to the maximum annual compensation limits set forth in the program and such other limits as may be set forth in the 2018 Plan. Each of the Annual Option Grant and Annual RSU Grant will vest in full on the earlier of the first anniversary of the grant date or the first board of directors meeting held after the following annual meeting of stock