Company: ALGN
Filing Date: 2025-03-27
Form Type: PRE 14A
Source: 0001097149-25-000016
Chunk: 75

Company: ALIGN TECHNOLOGY INC
Filing Date: 2025-03-27
Form: PRE 14A
Chunk 75
---
the "Performance Multiplier"); and

• our stock price performance will be based on the per share value of our common stock paid to our stockholders in connection with the change of control.

On the date of the change of control, each will vest in that number of MSUs equal to (A)/36*(X)*(Y) with (A) representing the number of months (including partial months) that have elapsed from the commencement of the performance period through the date of the change of control and (X) representing the total number of MSUs subject to the award and (Y) representing the Performance Multiplier.

#### A Termination Related to a Change of Control
A termination related to a change of control is a termination that occurs within 12 months from the change of control date. The employment agreements with Messrs. Wright and Hockridge provide that, if, within 12 months of a change of control either's employment is terminated without cause or either resigns for good reason then each will:

(1) immediately vest in all outstanding equity awards; and

(2) be entitled to a payment (payable in a lump sum) equal to:

a. his then current annual base salary;

b. his then current year's target bonus prorated for the number of days employed during the year, and

c. the greater of his then current year's target bonus or the prior year's actual bonus.

In addition, each of the MSU agreements Messrs. Wright and Hockridge provide that if, within 12 months of a change of control, the executive’s employment is terminated without cause or the executive resigns for good reason, then the executive will immediately vest in 100% of all outstanding MSU awards.

Each employment agreement also provides that we will pay their monthly premium under COBRA until the earliest of 12 months following the termination of employment if terminated without cause or resignation for good reason or the date upon which each commences new employment.

#### Retirement
Mr. Wright’s 2023 and 2024 MSU and RSU award agreements provide for continued vesting based on the following terms: (i) each outstanding RSU award will continue to vest for twelve months after Mr. Wright’s date of retirement from Align; (ii) for each outstanding MSU award, Mr. Wright will be entitled to receive a pro-rated vesting of shares at the end of the applicable MSU performance period based on the date of retirement and subject to the conditions for vesting and release of shares