Company: PGEN
Filing Date: 2025-05-16
Form Type: DEF 14A
Source: 0001140361-25-019470
Chunk: 86

Company: PRECIGEN, INC.
Filing Date: 2025-05-16
Form: DEF 14A
Chunk 86
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 |        6.99 |
| Number of Full-Value Stock Awards Outstanding  |     |   2,427,311 |
| Number of Shares Remaining for Future Grant    |     |   8,257,969 |
| 2019 Plan                                      |     |     747,272 |
| 2023 Plan                                      |     |   7,510,697 |
| Common Shares Outstanding as of April 25, 2025 |     | 295,165,060 |
| Overhang Percentage                            |     |       12.4% |

If approved, the additional 11,500,000 shares reserved for issuance under the 2023 Plan, and the additional 1,100,000 shares reserved for issuance under the 2019 Plan (as described in Proposal No. 7) would, when combined with shares remaining available for issuance under the 2019 Plan and 2023 Plan as reflected in the table above, increase the overhang percentage to approximately 16.7%. Shareholder Value Transfer . When evaluating the appropriate number of shares to increase the share reserve under the 2023 Plan, we reviewed the shareholder value transfer of the proposed increase, calculated as the value of available shares and plan awards as a percentage of our market capitalization, and determined that the addition of 11,500,000 shares to the 2023 Plan share reserve was reasonable and consistent with industry guidelines. Expected Duration . We expect that the shares available for issuance pursuant to future awards, including the additional shares if this proposal is approved by our shareholders, will be sufficient for currently anticipated awards under the 2023 Plan through at least the 12-month period following such approval of the proposal. Expectations regarding future share usage could be impacted by a number of factors such as hiring and promotion activity at the executive level; the rate at which shares are returned to the 2023 Plan reserve upon awards’ expiration, forfeiture, or cash settlement; the future performance of our stock price; consequences of acquisitions or dispositions; and other factors. While we believe that the assumptions we used are reasonable, future share usage may differ from current expectations. If, however, the shareholders do not approve the 2023 Plan Amendment No. 2 to increase the number of shares reserved for issuance under the 2023 Plan, there may not be a sufficient number of shares of our common stock available to achieve our recruiting and retention objectives.

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TABLE OF CONTENTS

Corporate Governance Best Practices . The 2023 Plan