Company: LENZ
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001815776-25-000019
Chunk: 33

Company: LENZ Therapeutics, Inc.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 9B
Chunk 33
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1, 2023.

(7)Ms. Drapkin commenced employment with Graphite on August 21, 2023, and served as Graphite’s interim President and Chief Executive Officer from August 21, 2023 through the closing of the Merger.

(8)Ms. Drapkin's 2023 salary is pro-rated for the portion of the year in which she was employed by Graphite. Ms. Drapkin's 2024 salary represents $123,750 paid as salary to Ms. Drapkin for her services as our former Interim President and Chief Executive Officer until the closing of the Merger, and $39,791 as fees for her services as a non-employee director since the closing of the Merger pursuant to the Director Compensation Policy.

(9)Ms. Drapkin was entitled to a cash severance payment in the amount of (i) $400,000 in the event of a termination of her employment other than for cause or death upon or within 12 months after the closing of a Strategic Transaction (as defined in Ms. Drapkin's offer letter and which included the Merger), plus an additional bonus in the amount of $200,000 if the definitive agreement for such Strategic Transaction was executed within three (3) months after August 21, 2023.

(10)This amount relates to Ms. Drapkin's option award granted for her service as a non-employee director following the closing of the Merger pursuant to our Outside Director Compensation Policy. 

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(11)Mr. Chevallard commenced employment with the Company on March 21, 2024. His 2024 annual base salary and bonus are pro-rated based on his employment commencement date.

(12)The amount reported reflects the total salary earned by Dr. Odrich in 2024. Dr. Odrich’s annual base salary was $410,000 from January 1, 2024 until March 20, 2024 and was increased to an annual base salary of $485,000 on March 21, 2024.

Non-Equity Incentive Plan Compensation

We maintain the Employee Incentive Compensation Plan (the “Incentive Compensation Plan”), which allows our board of directors or compensation committee to grant incentive awards, generally payable in cash, to employees selected by our compensation committee, including our executive officers, based upon performance goals established by our board of directors or compensation committee. In April