Company: KROS
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001104659-25-037982
Chunk: 62

Company: Keros Therapeutics, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 62
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 agreements. The Compensation Committee believes that these severance benefits are necessary to provide stability among our named executive officers, to focus our named executive officers on our business operations and to encourage continued attention and dedication to duties without distractions in connection with a potential change in control transaction or period of uncertainty. On February 29, 2024, Dr. Cooper resigned from his position as our Chief Medical Officer, effective March 12, 2024. Dr. Cooper was not entitled to and did not receive any severance benefits in connection with his resignation. For a detailed description of the severance provisions contained in our named executive officers’ offer letter and employment agreements, see “Potential Payments upon Termination or Change of Control” below. 401(k) Plan Our named executive officers are eligible to participate in a 40l(k) plan intended to qualify as a tax-qualified plan under Section 401 of the Internal Revenue Code of 1986, as amended (the “Code”), with the 40l(k) plan’s related trust intended to be tax exempt under Section 501(a) of the Code. The 40l(k) plan provides that each participant may contribute up to the lesser of 100% of his or her compensation or the statutory limit, which was $23,000 for calendar year 2024 (subject to catch-up contributions for individuals aged 50 and over). For the 2024 calendar year, we made matching contributions equal to 100% of a participant’s eligible compensation up to the first 4% of such person’s elected deferral. Matching contributions are immediately fully vested. Employees’ pre-tax contributions are allocated to each participant’s individual 43 TABLE OF CONTENTS account and are then invested in selected investment alternatives according to the participant’s directions. Employees are immediately and fully vested in their contributions. As a tax-qualified retirement plan, contributions to the 40l(k) plan and earnings on those contributions are not taxable to the employees until distributed from the 40l(k) plan. Health/Welfare Plans Our named executive officers are eligible to participate in all of our benefit plans, such as the 401(k) plan (see the section above titled “401(k) Plan” above), medical, dental, vision, disability and life insurance, in each case generally on the same basis as other employees. We do not currently have qualified or nonqualified defined benefit plans or deferred compensation plans, nor do we offer pension or other retirement benefits, other than our 401(k) plan. Our Compensation Committee may elect