Company: CYTK
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013167
Chunk: 96

Company: CYTOKINETICS INC
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 96
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. On the recommendation of the Compensation Committee, after consultations with our independent compensation consultant, the Board approved an increase in the retainer payment to $10,000 annually effective July 1, 2024. |

We also reimburse our non-employee directors for out-of-pocket expenses incurred in connection with service on our Board of Directors. Election to Receive Retainers in Cash or Equity Each non-employee director may make an annual election to receive his or her annual base retainer (but not committee retainers) either wholly in cash or to receive either 50% or 100% of that retainer in fully vested shares of Common Stock under the 2004 EIP of equal value (“Equity in Lieu of Cash Retainer Option”). Non-employee directors electing to receive 50% or 100% of their annual base retainer in fully vested Common Stock will receive such shares on the first business day of each calendar quarter for which the election is in effect. Initial and Annual Equity Grants to Non-Employee Directors Non-employee directors receive grants of stock options under the 2004 EIP. Under our Non-Employee Director Equity Compensation Policy, our non-employee directors receive an initial equity grant comprised of stock options to purchase shares of our Common Stock with a grant date fair value of $700,000 on joining the Board of Directors. This initial grant vests in equal monthly installments over three years. Continuing non-employee directors receive an annual recurring equity grant comprised of RSUs and stock options to purchase shares of our Common Stock with an aggregate grant date fair value of $440,000 on the date of our annual meeting of stockholders, the stock options of which will vest monthly over a period commencing on the grant date and ending on the earlier to occur of (x) the one-year anniversary of the date of the grant and (y) the date of Company’s annual meeting of stockholders for the calendar year immediately subsequent to the grant date, and the RSUs of which will vest in one installment on the earlier to occur of (x) the one-year anniversary of the grant date and (y) the date of the Company’s annual meeting of stockholders for the calendar year immediately subsequent to the grant date, in each case subject to the director's continuous service as a member of the Board of Directors. Our Board of Directors continues to have discretion to grant options to new and continuing non-employee directors. Prior to March 2024, a non-employee director that resigned from the Board of Directors had one year