Company: ERAS
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001193125-25-103868
Chunk: 48

Company: Erasca, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 48
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 common stock, vesting over three years, upon election to the Board, and thereafter annual grants of options to purchase 60,000 shares of our common stock, vesting on the first to occur of (i) the first anniversary of the grant date or (ii) the next occurring annual meeting of our stockholders. In December 2024, the non-employeedirector compensation program for 2025 and thereafter was updated to: (i) increase the cash retainer for the chair and members of the compensation committee from $10,000 to $12,000, and $5,000 to $6,000, respectively; (ii) increase the cash retainer for the chair and members of the nominating and corporate governance committee from $8,000 to $10,000, and $4,000 to $5,000, respectively; (iii) increase the initial grant of options to purchase shares of our common stock from 120,000 shares to 240,000 shares; and (iv) increase the annual grant of options to purchase shares of our common stock from 60,000 shares to 120,000 shares. The remaining terms of the non-employeedirector compensation program remain unchanged. The non-employeedirector compensation program allows non-employeedirectors to elect to receive options to purchase shares of our common stock in lieu of receiving all of the cash retainer payable to such director in the next calendar year. Such election is voluntary and irrevocable for the applicable calendar year. In the event a non-employeedirector timely makes an election, such non-employeedirector will be granted a number of stock options under the 2021 Plan on the first day of the calendar year in which the cash retainer would otherwise be earned with a value equal to the aggregate dollar value of the cash retainer payable to the non-employeedirector for such calendar year based on the director’s committee assignments in effect on the last day of the preceding calendar year, as calculated on the grant date in accordance with the Black-Scholes option pricing model (utilizing the same assumptions that we utilized in connection in connection with the most recent stock options we granted prior to the grant date and the average closing price per share of our common stock for the calendar month preceding the grant date). The stock options will vest in twelve monthly installments on the last day of each calendar month following the date of grant. Compensation under our non-employeedirector compensation program is subject to the annual limits on