Company: PRTA
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001559053-25-000017
Chunk: 97

Company: PROTHENA CORP PUBLIC LTD CO
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 97
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 Nguyen, and Ms. Karp received replacement options in the “value-for-value” option exchange program. If those replacement options are excluded from the calculations, the compensation actually paid to Dr. Kinney in 2021 would be $29.4M (a reduction of $11.8M), and the average compensation actually paid to the Non-PEO Named Executive Officers would be $10.1M (a reduction of $2.5M).

| Relationship Between Pay and Performance |

We believe the compensation actually paid in each of the years reported above and over the five-year cumulative period are reflective of the Compensation Committee’s emphasis on “pay-for-performance” as the compensation actually paid fluctuated year-over-year, primarily due to the result of our share performance and our varying levels of achievement against pre-established performance goals under our annual cash bonus opportunities and long-term incentive compensation. The following graphic illustrates the relationship between the compensation actually paid to the named executive officers and the Company’s TSR, as well as the relationship between the Company’s TSR and the TSR of the Nasdaq Biotechnology Index, an independently prepared index that includes companies in the biotechnology industry. In addition, as noted above, as is the case with many companies in the biotechnology industry, the Company’s annual incentive objectives are generally tied to the Company’s strategic and operational goals rather than financial goals. Accordingly, the Company’s compensation program is less influenced by metrics such as net income. In fiscal year 2020, our net income was $( 111,144,000) as compared to the compensation actually paid of $ 62,288 for Dr. Kinney and $ 866,852 for the average of our other named executive officers. In fiscal year 2021, our net income increased to $ 66,975,000 while the compensation actually paid to Dr. Kinney and the other named executive officers increased to $ 41,144,072and $ 12,625,320, respectively, with the increase in compensation actually paid primarily driven by an increase in our share price and the impact of the option exchange program described above. In fiscal year 2022, our net income decreased to $( 116,949,000), while the compensation actually paid for Dr. Kinney and for the other named executive officers decreased to $ 7,400,610and $ 4,104,503, respectiv ely, primarily due to a smaller increase in our share price year-over-year as compared to the increase in our share price from 202