Company: ARVN
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001655759-25-000075
Chunk: 39

Company: ARVINAS, INC.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 39
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 believe it is appropriate to reward performance against corporate performance goals in that case, in line with our pay-for-performance philosophy.

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The total target compensation (base salary, target annual cash bonuses and equity incentive awards) for our Chief Executive Officer and our other named executive officers in 2024 was primarily performance-based, as shown in the charts below. The Other Named Executive Officer Target Pay Mix chart includes Dr. Berkowitz, Dr. Cacace and Mr. Saik. Mr. Cassidy and Dr. Teel have been omitted from this chart as they are not currently executive officers, and Dr. Teel has been omitted from this chart given the decrease to his base salary after his change in role discussed above.

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The compensation committee uses a comparative framework to assess the named executive officers’ total compensation mix, but does not have a pre-established policy for allocating total compensation. Rather, based on blended peer group and broader market data, market competitiveness, expected future contribution, experience, impact and individual performance, and internal parity relative to similar positions within the company, the compensation committee subjectively determines the appropriate level and mix of total compensation, keeping in mind our pay-for-performance compensation philosophy. We believe that this approach results in compensation that:

• is at an appropriate level to attract and retain individuals with superior ability, technical, and managerial experience;

• provides the appropriate incentives to our executives to make significant contributions to the long-term success of the company, while avoiding incentives for inappropriate risk-taking; and

• is fair and competitive without being excessive.

Realizable Pay

A core component of our compensation philosophy is to incentivize our executive officers by creating a strong link between their performance and compensation. As a result of this pay for performance philosophy, we put much of our executives’ pay “at-risk.” Over the past several years, we have granted a mix of time-based RSUs and Options, to retain and motivate our executives to deliver long-term performance. Given that a significant portion of the compensation packages are linked to achieving scientific, business, organizational and operational goals and as a result, vary depending on our performance and increase in stock price. Frequently, the grant date value of our equity compensation (as reported annually in the Summary Compensation Table) is not always reflective of the actual realizable pay value that may be received by the CEO because it is based on the based on the grant date fair value as determined under applicable accounting guidance. Realizable pay reflects the actual value of compensation received or