Company: ASAN
Filing Date: 2025-12-02
Form Type: 8-K
Source: 0001477720-25-000235
Chunk: 2

Company: Asana, Inc.
Filing Date: 2025-12-02
Form: 8-K
Item: Item 5.02
Chunk 2
---
 2015. Earlier in her career, Ms. Colendich practiced at the law firm of O'Melveny & Myers LLP from 2004 to 2013. Ms. Colendich holds a J. D. from the University of Washington, School of Law and graduated cum laude with a B. A. in English and B. S. in Political Science from Santa Clara University.

Pursuant to Ms. Colendich’s offer letter, she will receive an annual base salary of $500,000 and be eligible to earn an initial annual target bonus of equal to 10% of her annual base salary, each to be prorated for fiscal 2026 based on the number of days she is employed by the Company as General Counsel and Corporate Secretary during fiscal 2026. The actual annual bonus may range from 0% to 150% based on the achievement of performance targets. Ms. Colendich will also receive a number of restricted stock units (“ RSUs”) with a total grant date value of $420,000 and a target number of performance-based restricted stock units (“ PSUs”) with a total grant date value of $180,000. The number of RSUs to be granted will be calculated based on the average closing share price of the Company’s Class A Common Stock on each trading day for the month prior to the grant date. The maximum number of PSUs eligible to vest shall be equal to 200% of the target number of PSUs. The RSUs and PSUs will both be subject to the terms and conditions applicable to RSUs and PSUs granted under the Company’s 2020 Equity Incentive Plan and the applicable award agreements that Ms. Colendich will be required to sign as a condition of the grants.

Once granted, the RSUs will vest in 1/12th installments quarterly over three years, subject to Ms. Colendich’s continuous service through the applicable vesting date.

The PSU Grant will be earned based on the achievement of performance goals over three one-year performance periods. The first performance period for the PSU Grant is expected to commence on or around February 1, 2026. The specific PSU Grant date and the PSU performance goals, measurement criteria, and vesting terms applicable to the PSU Grant will be determined

by the Board at a later date. With respect to the target number of PSUs eligible for vest in each performance period, performance below the 25th percentile will result in 0% vesting,