Company: RGNX
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0000950170-25-052069
Chunk: 86

Company: REGENXBIO Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 86
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 tax at a rate that does not exceed the regular capital gain rate. In addition, if the participant owed alternative minimum tax in the year in which the participant exercised the ISO, the participant generally will be allowed a tax credit against regular income tax liability (to the extent it exceeds alternative minimum tax liability) in any subsequent year.

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Employment Tax Consequences for Employees

If the participant is an employee, the amount that the participant recognizes as ordinary income from an award under the 2025 Plan is treated as “wages” for purposes of the Federal Insurance Contributions Act (“FICA”). Both the employee and the Company must pay federal employment tax under FICA with respect to the employee’s wages.

An employee’s wages are subject to federal employment tax imposed on each of the employee and the Company at the maximum rate (currently 7.65%) to the extent that the employee’s aggregate wages for the year do not exceed the “taxable wage base” for that year. The taxable wage base is a dollar amount ($176,100 in 2025) that is generally adjusted annually for increases in the cost of living. The employee’s wages are subject to federal employment tax at a reduced rate (currently 1.45%) to the extent the employee’s aggregate wages exceed the taxable wage base for that year. Accordingly, if the employee’s aggregate wages (not including income from an award) exceeds the taxable wage base, both the employee and the Company must pay federal employment tax under FICA at the reduced rate on the wages that the employee has recognized in connection with an award. An additional 0.9% Medicare tax for high-income earners is applied to earnings in excess of $200,000 for single taxpayers, $125,000 for married taxpayers filing separately, and $250,000 for married taxpayers filing jointly. Employers must withhold the additional Medicare tax based on the $200,000 threshold.

Any amount that an employee receives under an ISO (including any amount recognized as ordinary income due to a “disqualifying disposition” of ISO shares) is not treated as “wages” subject to FICA tax. However, these amounts will also not be taken into account in determining the participant’s Social Security benefits.

Employment Tax Consequences for Non-Employee Directors and Consultants

If the participant is a non-employee director or consultant, instead of paying employment tax as described above, the participant generally is subject to tax under the Self-Employment Contributions Act (“SECA”) on the ordinary