Company: TBPH
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001104659-25-033819
Chunk: 39

Company: Theravance Biopharma, Inc.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 39
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 earlier of (i) 30 calendar days prior to the notice deadline under our Amended and Restated Memorandum and Articles of Association for the nomination of non-proxy access director candidates (the “Notice Deadline”) for election to the board of directors at our 2026 annual general meeting of shareholders and (ii) 150 days prior to the first anniversary of the Annual Meeting (the “Cooperation Period”). Pursuant to the Cooperation Agreement, from the 2024 annual general meeting of shareholders until the expiration of the Cooperation Period, the size of the 25 TABLE OF CONTENTS board of directors will be no greater than 9 members. Concurrently with the execution of the Cooperation Agreement, we also entered into an Information Sharing Agreement (the “Information Sharing Agreement”) with Irenic, pursuant to which Irenic has the right during the Cooperation Period, upon Irenic’s request and subject to confidentiality obligations, including a 2 day trading prohibition following the cleanse of such information received under the Information Sharing Agreement, to receive certain information from us in connection with any upcoming quarterly or annual financial announcement or investor day. The Cooperation Agreement includes terms relating to appointment of a replacement director if Mr. Grant is unable or unwilling to serve as a director, resigns as a director or ceases to be a director, such appointment being pursuant to, and under the circumstances specified by, the Cooperation Agreement. This description of the Cooperation Agreement is a summary only and is qualified in its entirety by reference to the copy of the Cooperation Agreement filed as Exhibit 10.1 to the Current Report on Form 8-K that we filed on December 21, 2023. Director Compensation The following is a description of the standard compensation arrangements under which our non- employee directors are compensated for their service as directors, including as members of the various committees of our board of directors. Cash Compensation In 2024, each non-employee member of our board of directors received an annual retainer of $50,000 pursuant to our non-employee director compensation program. In addition, we paid the following fixed annual retainers to our non-employee directors for committee service and service as our committee chairpersons, our lead independent director, and our chairperson: • Lead Independent Director: $25,000 (applicable until October 2024) • Chairperson: $35,000 (applicable from October 2024) • Audit committee chairperson: $20,000 • Audit committee member (other than chairperson): $10,000 • Compensation committee chair