Company: IONQ
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0000950170-25-059289
Chunk: 45

Company: IonQ, Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 45
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 2024 (forfeited if earlier voluntary termination); • $10 million of cash paid on or before December 31, 2025 (forfeited if earlier voluntary termination); and • $5 million of PSUs. The grant of PSUs was approved by our board of directors to incentivize achievement of the Company's long-term growth strategy and drive return to stockholders by: • Aligning Mr. Chapman's interests with those of the Company's stockholders such that material elements of Mr. Chapman's compensation opportunity are performance-based; and • Providing a significant incentive for Mr. Chapman to continue to lead the Company, while executing critical growth initiatives. Determination of the earned shares from 0-to-3x target is based on achievement of updated technical goals, to account for technical achievements made before Mr. Chapman entered the plan, and original financial goals. The board of directors approved the December 2024 cash award to recognize outstanding leadership and strategic contributions beyond financial goals as well as Company stock performance in 2024 that led to annualized total shareholder return of 237%, and in light of Mr. Chapman declining long-term equity incentive compensation in 2023 and 2024 prior to the December 2024 PSUs. The board of directors approved the December 2025 cash award to incentivize Mr. Chapman to continue to lead the Company. In the event Mr. Chapman's employment is terminated prior to December 31, 2025, without "cause" or by Mr. Chapman for "good reason" (as those terms are defined in the Executive Severance Plan), we will pay Mr. Chapman any previously unpaid portions of the cash awards, subject to the provisions of the Executive Severance Plan.

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Pursuant to the PSU award agreement and the 2021 Equity Incentive Plan (the “2021 Plan”), Mr. Chapman's PSUs will continue to be outstanding and may vest for so long as he is in Continuous Service as an employee of the Company (and any successor) or an Affiliate generally through completion of the PSU Performance Period and based on achievement of the performance goals and a 60-trading day trailing average stock price requirement. Mr. Chapman's PSUs have acceleration provisions consistent with our standard form PSU agreement as previously disclosed and described below in the section titled “ —Potential Payments Upon Termination or Change in Control .” Executive Compensation Policies While our board of directors has overall responsibility for risk oversight, the compensation committee, with the assistance of its