Company: IONQ
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0000950170-25-059289
Chunk: 51

Company: IonQ, Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 51
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 succeeding Peter Chapman effective as of February 26, 2025 (the “Transition Date”). Effective on the Transition Date, Mr. Chapman was appointed as Executive Chair of the Company.

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In connection with his appointment as President and Chief Executive Officer, Mr. de Masi entered into an offer letter with the Company on the Transition Date (the “Offer Letter”), providing the following compensation arrangements:

Annual Compensation : Mr. de Masi will receive an annual base salary of $500,000 and is eligible to receive an annual cash bonus with a target amount equal to 100% of his annual base salary, subject to the achievement of executive team and Company performance goals. (In respect of calendar year 2025, he is eligible to receive an annual cash bonus that is no less than his prorated target bonus based on the Transition Date.)

New Hire Compensation : On the Transition Date, Mr. de Masi received an award of a target number of PSUs with an at-grant value of $27,000,000 on February 26, 2025, as determined by the last reported sale price of our common stock on such day, such PSUs were front-loaded as to the number of shares subject to the grant. The PSUs are eligible to vest (at up to 200% of target) at the end of the three-year performance period from January 1, 2025, through December 31, 2027, subject to the achievement of Company performance goals and generally subject to Mr. de Masi’s continued employment, except as provided below. In addition, Mr. de Masi received an award of RSUs with an at-grant value of $20,000,000 on February 26, 2025, as determined by the last reported sale price of our common stock on such day. The RSUs will vest on the second anniversary of the Transition Date, generally subject to Mr. de Masi’s continued employment, except as provided below, and are subject to reduction in the event Mr. de Masi forfeits less than $20,000,000 of equity, equity-based awards, or deferred compensation from his prior employer. No additional annual equity incentives for Mr. de Masi are currently contemplated by our board of directors prior to 2028.

Other Benefits : Mr. de Masi will be eligible for the Company’s other standard retirement and health and welfare benefits under the terms of the Company’s benefit plans as generally applicable to the Company