Company: KROS
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001104659-25-037982
Chunk: 59

Company: Keros Therapeutics, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 59
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 granted stock options to our named executive officers, as shown in the table and described below. Each option (or, with respect to Dr. Seehra, 50% of his 2024 annual equity award) has an exercise price of $56.18 per share and vests over a four-year period, with 25% of the shares subject to each option vesting on February 13, 2025, and an additional 6.25% of such shares vesting at the end of each successive three-month period thereafter, subject to the executive’s continuous service with us as of each such vesting date. The options are eligible to accelerate under certain circumstances in accordance with the named executive officer’s employment agreement. The remaining 50% of Dr. Seehra’s 2024 annual equity award was granted in the form of a performance-vesting stock option, with an exercise price of $63.61 per share. The number of shares that are eligible to vest (the “ eligible shares ”) is determined based on the achievement of two rigorous development goals relating to cibotercept and KER-065, each on or prior to December 31, 2025. The eligible shares will vest as follows: 50% of such shares will vest on the date of certification of achievement of the performance goals by our Compensation Committee, and the remaining 50% will vest on December 31, 2026, subject to Dr. Seehra’s continuous service with us as of each such vesting date. We are not disclosing the performance goals applicable to Dr. Seehra’s option because we believe it would provide our competitors with insight into our internal confidential strategic operations and planning processes and could cause us competitive harm. Nonetheless, the Compensation Committee determined that the performance goals were appropriately challenging, but attainable, as of the date of grant. We commit to disclose the performance goals and outcomes following conclusion of the relevant performance period, in accordance with typical market practice and SEC rules. The option is eligible to accelerate under certain circumstances as described below under “Potential Payments upon Termination or Change of Control.” As of the date of this Proxy Statement, the Committee has not determined if either of the performance goals has been met. In formulating its equity award recommendations, our Compensation Committee used its subjective judgement to determine the amounts and equity award mix it believed were appropriate for each named executive officer, considering, among other factors: market data for the relevant positions (based on award value and percent of company), management of dilution