Company: ARVN
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001655759-25-000075
Chunk: 54

Company: ARVINAS, INC.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 54
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 to remain with our company. Prior to 2024, the Options we granted to our executives have a ten-year term and vest as to 25% of the shares on the first anniversary of their grant date and then in equal monthly installments thereafter until the fourth anniversary of such date, and RSU awards we granted to our executives vest as to 25% of the shares on the first anniversary of their grant and then in equal annual installments thereafter until the fourth anniversary of such date.

As we compete in a very competitive talent market and our competitors are typically larger and better capitalized than us, in 2024, to assist with retention going forward and drive toward achievement of near-term strategic milestones, including the Phase 3 data readout of VERITAC-2, and potential commercialization, our compensation committee and board of directors approved a one-time special vesting schedule for the 2024 annual equity grants and promotional equity grants, described above, applicable to both Options and RSUs, of two years, with 50% vesting on each of the first and second anniversaries of either date of grant or effective date of promotion. The compensation committee and board of directors believed that this one-time change to the vesting schedule for 2024 annual and promotional equity grants was appropriate at this time given the company’s stage of development and based on the Company’s goals and potential milestones in the coming years. In 2025, the compensation committee and board of directors reverted to a four-year vesting schedule for annual equity grants, applicable to both Options and RSUs.

Vesting of equity granted to employees ceases upon termination of employment and exercise rights typically cease three months following termination of employment, except in the case of death or disability, for grants made under our 2018 Plan. Prior to the exercise of an Option, or settlement of an RSU, the Option or RSU holder, as applicable, does not have any rights as a stockholder with respect to the shares subject to such Option or RSU, as applicable, including voting rights or the right to receive dividends or dividend equivalents.

The compensation committee may approve different award types in the future as part of the overall compensation strategy. Awards made in connection with a new, extended or expanded employment relationship may involve a different mix of equity awards and vesting periods, depending on the compensation committee’s assessment of the total compensation package being offered.

In connection with the annual review of each executive officer’s individual performance and consistent with our compensation philosophy, based on a long-term incentive value