Company: ABUS
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001140361-25-012305
Chunk: 43

Company: Arbutus Biopharma Corp
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 43
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 the four-year vesting period, has an exercise price of $2.40 and expires ten years from the grant date. In addition, Dr. Sims received a grant for 101,000 restricted stock units with an aggregate grant date fair value of $242,400, which vest (or remain eligible to vest) based on continued employment or service over a three-year period in three equal annual installments beginning one year from the grant date. In 2024, Dr. Sim’s also received $17,250 of 401(k) matching contributions. 26 TABLE OF CONTENTS In January 2025, Dr. Sim’s annual base salary was increased to 504,700. Dr. Sims’s employment as our Chief Medical Officer was terminated effective as of March 25, 2025. Dr. Michael J. Sofia, Former Chief Scientific Officer For fiscal 2024, Dr. Sofia’s annual base salary was $512,000 and his annual incentive cash target was 40% of his annual salary. In connection with his retirement effective December 31, 2024, Dr. Sofia received an annual incentive cash award of $204,800, which was equal to 40% of his annual salary for 2024, based on fiscal 2024 performance, and in accordance with the terms of his amended employment agreement. In February 2024, Dr. Sofia received a stock option award exercisable for 437,800 shares with an aggregate grant date fair value of $814,818. The option vests based on continued employment or service and becomes exercisable 1/48th each month over the four-year vesting period, has an exercise price of $2.40 and expires ten years from the grant date. In addition, Dr. Sofia received a grant for 109,500 restricted stock units with an aggregate grant date fair value of $262,800, which vest (or remain eligible to vest) based on continued employment or service over a three-year period in three equal annual installments beginning one year from the grant date. In 2024, Dr. Sofia also received $17,250 of 401(k) matching contributions. Dr. Sofia retired effective December 31, 2024. Employment Agreements All of the Named Executive Officers discussed below have departed the Company, and the disclosure below is included in accordance with SEC rules. Michael J. McElhaugh On July 10, 2015, we entered into an employment agreement with Mr. McElhaugh (as amended,