Company: PGEN
Filing Date: 2025-05-06
Form Type: PRE 14A
Source: 0001140361-25-017535
Chunk: 87

Company: PRECIGEN, INC.
Filing Date: 2025-05-06
Form: PRE 14A
Chunk 87
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 the 2013 Plan and the 2023 Plan, and incorporates certain corporate governance best practices to further align our equity compensation program with the interests of our shareholders. The following is a list of some of these best practices, which are intended to protect the interests of our shareholders:

| ✔ | No evergreen provision. The 2023 Plan does not contain an “evergreen” feature pursuant to which the shares authorized for issuance under the plan can be increased automatically without shareholder approval. |

| ✔ | Minimum vesting requirements. Awards under the 2023 Plan are subject to a minimum vesting period of one year from the date of grant, with only narrow exceptions, which we believe strengthen our employees’ interest in creating long-term value for our shareholders. |

| ✔ | Restricted dividends and dividend equivalents on awards. The 2023 Plan permits payment of dividend equivalents on awards subject to a vesting condition only if and when the underlying award vests. The 2023 Plan also prohibits the payment of dividend equivalents on shares subject to outstanding options or stock appreciation right awards (“SARs”). |

| ✔ | No discounted options or SARs. Stock options and SARs must have an exercise price per share that is no less than the fair market value of our common stock on the date of grant. |

| ✔ | No repricing. Repricing of options and SARs is not permitted without shareholder approval, except for adjustments with respect to certain specified extraordinary corporate transactions. |

| ✔ | No “liberal” change in control definition. The change in control definition under the 2023 Plan is only be triggered in those instances where an actual change in control occurs. |

| ✔ | No automatic single-trigger vesting of employee awards. Awards granted under the 2023 Plan to employees will not vest automatically upon a change in control, unless such awards are not assumed, substituted or continued by a successor entity. |

| ✔ | Limit on non-employee director compensation. The maximum aggregate compensation that may be paid to any non-employee director any calendar year (including cash and awards under the 2023 Plan) is $750,000, or $1 million for the year in which such director is first elected or appointed to the Board. |

| ✔ | Clawback of awards. The Compensation Committee has the authority to subject awards granted under the 2023 Plan to any clawback or recoupment policies that the Company has in effect from time to time. |

Text of the 2023 Plan Amendment No. 2 A copy of