Company: PGEN
Filing Date: 2025-05-16
Form Type: DEF 14A
Source: 0001140361-25-019470
Chunk: 49

Company: PRECIGEN, INC.
Filing Date: 2025-05-16
Form: DEF 14A
Chunk 49
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 the most effective compensation program is one that provides competitive base pay, rewards the achievement of established annual and long-term goals and objectives, and provides incentives for retention. The Compensation Committee assists the Board in fulfilling its oversight responsibilities with respect to the compensation of our executive officers. The Compensation Committee is responsible for:

| • | establishing and administering the base salaries and annual incentive awards of our executive officers, and |

| • | administering and making recommendations and awards under our equity incentive plans. |

The Compensation Committee regularly reviews the compensation paid to our executive officers to ensure it is fair, reasonable, and competitive and is substantially tied to our performance. The Compensation Committee evaluates, both subjectively and objectively, our financial performance, competitive position, future potential, and the individual and group performance of the members of executive management. In such evaluation, the Compensation Committee reviews data prepared by management and employs the business experience of the individual members of the Compensation Committee. The Compensation Committee also utilizes the assistance of an independent compensation consultant, as described below under “— The Compensation Review Process.” As part of the goal setting process for the 2024 short-term incentive awards, the Compensation Committee approved a focused set of goals that included the continued development of PRGN-2012 (including submission

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of a Biologics License Application, or BLA, as well as certain objectives related to the Company’s commercial capabilities), which were weighted at 70%, and continuation of other clinical programs, as well as attainment of certain financial goals, which were weighted at 10%. In addition, each executive officer’s individual performance was weighted at 20%, other than the Chief Executive Officer who did not have an individual performance goal. The Chief Executive Officer’s goals were the same as the other executive officers, absent the individual performance goal, which were weighted at 80% for the continued development of PRGN-2012 and 20% for the continuation of clinical programs as well as certain financial goals. The Committee assessed the performance of the executive officers in April 2025 against the 2024 goals and also performed a holistic review of Company and individual performance in 2024, and made bonus determinations based on such assessment and review, as described in “Annual Short Term Incentive Awards” below. In addition, in August 2024, the Compensation Committee approved the grant of performance-based stock units (“PSUs”) to certain employees, including certain named executive officers, with the goal of incentivizing and retaining these individuals through certain important upcoming Company milestones. The