Company: KROS
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001104659-25-037982
Chunk: 61

Company: Keros Therapeutics, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 61
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 connection with Dr. Chyung’s commencement of employment, the Board approved an option to Dr. Chyung to purchase 110,000 shares of our common stock, which has an exercise price of

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TABLE OF CONTENTS $67.91 per share. The shares subject to the option vest over a four-year period, with 25% of the shares subject to the option vesting on the first anniversary of the vesting commencement date and 6.25% of the shares subject to the option vesting at the end of each successive three-month period following the first anniversary of the vesting commencement date, subject to Dr. Chyung’s continuous service with us as of each such vesting date. The option is eligible to accelerate under certain circumstances in accordance with Dr. Chyung’s employment agreement. Preview of 2025 Equity Awards In February 2025, we granted annual equity awards to each of our named executive officers other than our Chief Executive Officer in the form of restricted stock unit awards. The grant date value of these awards was substantially less than our 2024 annual equity awards. The Compensation Committee and Board determined to delay granting an annual equity award to our Chief Executive Officer and are continuing to evaluate the appropriate annual equity award for 2025. Other Features of Our Compensation Program Employment Arrangements We have entered into offer letter and employment agreements with each of our named executive officers. These agreements provide for base salaries and incentive compensation, and each component reflects the scope of each named executive officer’s anticipated responsibilities and the individual experience they bring to us. The employment of each of our named executive officers is “at will” and may be terminated at any time. In addition, each of our named executive officers has executed a form of our standard proprietary information and inventions agreement. Severance and Change in Control Benefits Regardless of the manner in which a named executive officer’s service terminates, each named executive officer is entitled to receive amounts earned during his term of service, including unpaid salary and unused vacation. Pursuant to the offer letter and employment agreements entered into with each of our named executive officers, our named executive officers are entitled to certain severance benefits upon an involuntary termination without cause (and not due to death or disability) or upon a resignation for good reason, either alone or immediately before or within 12 months following a change in control of our Company, subject to specific requirements, including signing and not revoking a separation agreement and release of claims. Cause, change in control, disability and good reason are defined in the