Company: PGEN
Filing Date: 2025-05-06
Form Type: PRE 14A
Source: 0001140361-25-017535
Chunk: 99

Company: PRECIGEN, INC.
Filing Date: 2025-05-06
Form: PRE 14A
Chunk 99
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 by linking the personal interests of our consultants, advisors, non-employee directors and other non-employee service providers to those of our shareholders. As of March 31, 2025, there were 747,272 shares remaining available for issuance under the 2019 Plan, representing 0.3% of our outstanding common stock as of that date. We believe that this number may not be sufficient in view of our compensation structure and strategy and that the availability of the additional shares sought in this proposal will help us to continue to have a sufficient number of shares of common stock available for awards under the 2019 Plan. As a result, the Compensation Committee and the Board have approved the 2019 Plan Amendment No. 2, subject to the approval of our shareholders at the Annual Meeting. The 1,100,000 shares requested for issuance under the 2019 Plan represents an incremental dilution of approximately 0.4% of the shares of common stock outstanding on a fully-diluted basis as of March 31, 2025, and is intended to provide us with sufficient shares for grants to be made over at least the next 12 months (or perhaps longer). The Board believes the number of shares underlying the Plan represents a reasonable amount of potential additional equity dilution, and is committed to effectively managing our share reserves for equity compensation while minimizing stockholder dilution. As a result, the Compensation Committee and the Board have approved the 2019 Plan Amendment No. 2, subject to the approval of our shareholders at the Annual Meeting. As of March 31, 2025, we had eight non-employee directors that would be eligible to participate in the 2019 Plan, and approximately fifteen non-employee service providers that would be eligible to receive awards under the 2019 Plan. The basis for participation in the 2019 Plan is the Compensation Committee’s decision, in its sole discretion, that an award to an eligible participant will further the 2019 Plan’s purposes of attracting, retaining, and motivating our non-employee service providers to promote the success of our business by linking the personal interests of our consultants, advisors, non-employee directors and other non-employee service providers to those of our shareholders. In exercising its discretion, the Compensation Committee will consider the recommendations of management and the purposes of the 2019 Plan. In making the recommendation to increase the 2019 Plan’s share reserve by an additional 1,100,000 shares, we considered a number of factors, including: