Company: ARVN
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001655759-25-000075
Chunk: 53

Company: ARVINAS, INC.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 53
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 our executive officers for outstanding future performance.

The market for qualified and talented executives in the biopharmaceutical industry is highly competitive and we compete for talent with many companies that have greater resources than we do. Accordingly, we believe equity compensation is a crucial component of any competitive executive compensation package we offer.

Historically, our equity awards have generally taken the form of Options. In February 2023, our compensation committee determined that, in 2023, our annual equity incentive awards granted to our named executive officers would be in the form of Options and time-based RSUs, with two thirds of such award in the form of Options and one third in the form of time-based RSUs. In February 2024, our compensation committee determined that, in 2024, our annual equity incentive awards granted

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to our named executive officers would again be in the form of Options and time-based RSUs, with one-half of such award in the form of Options and one-half in the form of time-based RSUs. During 2024, the compensation committee also approved promotional grants to Dr. Cacace and Dr. Teel, in recognition of their promotions described above involving significant role changes and increased responsibilities, and to align with long term incentives to individuals with similar roles at peer companies. During 2024, the board of directors also approved equity grants as an inducement to entering into employment with us to each of Dr. Berkowitz and Mr. Saik.

We typically make equity award grants to each of our executive officers upon commencement of employment, annually in conjunction with our review of executive compensation, in connection with a promotion, or as a special incentive.

All equity awards to our executive officers are approved by our compensation committee and, other than equity awards to new hires or promotions, are typically granted by our compensation committee in the first quarter of the year. The size of equity awards varies among our executive officers based on their positions and annual performance assessments. All Options granted to our executive officers have exercise prices equal to the fair market value of our common stock on the date of grant, so that the recipient will not realize any value from his or her Options unless our share price increases above the exercise price on the date of grant. Accordingly, this portion of our executive officers’ compensation is at risk and is directly aligned with stockholder value creation.

Equity grants to our executive officers have historically vested over four years, which we believe provides an incentive to our executives to add value over the long-term and