Company: CYTK
Filing Date: 2025-11-14
Form Type: 8-K
Source: 0001193125-25-282889
Chunk: 1

Company: CYTOKINETICS INC
Filing Date: 2025-11-14
Form: 8-K
Item: Item 5.02
Chunk 1
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 Letter, Mr. Hessekiel’s annual base salary will initially be $660,000, and he will be entitled to participate in the Company’s benefit and compensatory plans available to similarly-situated employees, including the Company’s Amended and Restated 2004 Equity Incentive Plan (the “2004 EIP”), the Company’s annual non-equity incentive plan (the “ Bonus Plan”) and the Company’s Executive Severance Plan (the “ Severance Plan”). Mr. Hessekiel’s target bonus under the Bonus Plan will initially be 50% of his annual base salary, 75% of which will be based on the achievement of corporate goals approved by the Compensation and Talent Committee of the Company’s Board of Directors and 25% of which will be based on individual goals that will be set in Mr. Hessekiel’s first months of employment. Mr. Hessekiel will also be paid a signing bonus of $400,000, 50% of which is payable upon the close of his first payroll cycle after commencement of employment (such initial payment will be subject to repayment should Mr. Hessekiel voluntarily resign or be terminated for cause within one year of receipt of payment) and the remaining 50% of his signing bonus being payable upon the close of the first payroll cycle subsequent to his one year anniversary of commencement of employment.

As inducement for his entering into employment with the Company, Mr. Hessekiel will receive an initial equity award consisting of a number of restricted stock units with a grant date value of $5,800,000 (based on the closing price of the Company’s common stock on the date of grant) (the “ Initial RSU Award”).

The Initial RSU Award will vest as follows: 40% will vest on the anniversary of the grant date, 40% will vest on the second anniversary of the grant date, and 20% will vest on the third anniversary of the grant date, subject to Mr. Hessekiel’s continuous service with the Company on each such vesting date. The Initial RSU Award will be subject to the terms and conditions of the 2004 EIP and the award agreements thereunder and will also be subject to potential vesting acceleration as set forth in the Severance Plan.

For descriptions of the Bonus Plan and the Severance Plan, see “ Executive Compensation - Compensation Discussion and Analysis” and “ Executive Compensation - Potential Payments Upon Termination or Change of Control,” respectively, in the