Company: CYTK
Filing Date: 2025-03-31
Form Type: PRE 14A
Source: 0001140361-25-011212
Chunk: 68

Company: CYTOKINETICS INC
Filing Date: 2025-03-31
Form: PRE 14A
Chunk 68
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 executive compensation program and assists the Compensation Committee in recruiting and retaining talented executives. The Compensation Committee also believes these benefits serve to minimize the distractions to the executive, reduce the risk that the executive will depart the Company before an acquisition is consummated, and allow the executive to focus on continuing normal business operations and the success of a potential business combination, rather than contemplating how business decisions that may be in our best interests and the interest of our stockholders will impact his own financial security. That is, these change of control arrangements help ensure stability among our executive ranks and will enable our executives to maintain a balanced perspective in making overall business decisions during periods of uncertainty. Further, these agreements are in line with customary practices at an executive level at the Peer Companies. In addition, in 2024, in connection with his resignation as our Senior Vice President, Chief Financial Officer, we entered into a consulting agreement with Mr. Jaw pursuant to which he provided transition services to support the smooth transition of his role. The consulting agreement commenced on February 24, 2024 and terminated in accordance with its terms on June 30, 2024 (the “Consulting Period”) and provided for consulting services to be provided by Mr. Jaw to the Company at an hourly rate of $380.00 per hour of services and continued vesting during the Consulting Period of Mr. Jaw's outstanding stock options and RSUs that he received whilst an employee of the Company. The continued vesting during the Consulting Period of Mr. Jaw’s outstanding stock options and RSUs was accounted for as a modification of such awards. The incremental compensation expense in connection with such modification is set forth in the “Stock Awards” and “Option Awards” columns of the Executive Summary Compensation Table for 2024. Corporate and Individual Achievement Assessment Impacting Compensation Components Corporate Achievement. Before the start of each calendar year, management prepares a set of corporate goals covering our expected operating and financial performance for the fiscal year. Our corporate goals are focused on corporate metrics and objectives that are intended to provide both near- and long-term stockholder value. The Compensation Committee then reviews and approves these corporate goals. Our corporate goals for 2024, as established by the Compensation Committee, weightings relative each other were as follows:

| • | Goals attributable to the on-going development and commercial launch preparation of aficamten accounted for 45% of the total corporate goal. Goals included: |

| • | presenting and publishing the main results of SEQUOIA-HCM; |

| • | completing enrollment of MAP