Company: PGEN
Filing Date: 2025-05-06
Form Type: PRE 14A
Source: 0001140361-25-017535
Chunk: 58

Company: PRECIGEN, INC.
Filing Date: 2025-05-06
Form: PRE 14A
Chunk 58
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 faith submission to the FDA of a complete BLA related to PRGN-2012, and 50% vest upon the approval of the BLA by the FDA (each, a “Milestone”), in each case during the performance period from the grant date through December 31, 2026. Each Milestone was selected because of its strategic importance for our company and the need to incentivize and retain key employees through these Milestones. The Milestones may be achieved (and the PSUs earned) at any time during the performance period, and the PSUs will vest and be settled in shares of the Company’s common stock at such time as the Compensation Committee certifies that an applicable performance milestone has been achieved, subject generally to the executive’s continued employment through the applicable achievement date. Any PSUs for which a performance milestone has not been achieved by December 31, 2026 will be cancelled and forfeited. 42

TABLE OF CONTENTS

The following table summarizes the PSUs granted to our named executive officers in August 2024 (except for Mr. Perez who did not receive such an award):

| Name                |     | Grant Date 
 Fair Value 
    of PSUs 
     ($)(1) |     | Milestone-Based 
    PSUs Granted 
             (#) |
| Dr. Helen Sabzevari |     |   $932,250 |     |       1,650,000 |
| Harry Thomasian Jr. |     |   $141,250 |     |         250,000 |
| Donald P. Lehr      |     |    $61,020 |     |         108,000 |
| Rutul R. Shah       |     |   $141,250 |     |         250,000 |
| Phil Tennant        |     |    $28,250 |     |          50,000 |

| 1. | The grant date fair value is based on the grant date closing price per share of $1.13 on August 28, 2024, based on the probable outcome of the performance conditions as of the grant date, and does not represent the actual amounts that will be realized by the named executive officer. |

In January 2025, the first Milestone applicable to the PSUs was determined to have been achieved and 50% of the PSUs held by each named executive officer were settled in shares of Company common stock, with the remaining 50% remaining outstanding subject to the achievement of the remaining Milestone. Other