Company: ABUS
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001140361-25-012305
Chunk: 40

Company: Arbutus Biopharma Corp
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 40
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 annual incentive cash bonuses for the Named Executive Officers could range from 0% to 125% of such Named Executive Officer’s target annual incentive cash bonus, depending on 2024 performance. The bonus payments for 2024 were based on performance against the corporate and personal objectives, consisting primarily of continued advancement of our HBV and coronavirus pipeline programs and other business objectives. Key objectives achieved during 2024 that were important in our Compensation Committee’s determination of bonus awards included reporting clinical data from our Phase 2a clinical trials with imdusiran and our Phase 1 clinical trial with AB-101, as well as, completing assessments of our strategic focus and the cHBV market opportunity. As a result of such 2024 performance, Messrs. McElhaugh, Hastings and Sofia and Dr. Sims each received an annual incentive cash bonus equal to 100% of such Named Executive Officer’s target bonus amount. Long-Term Incentives — Stock Options and Restricted Stock Units Stock options and restricted stock units are granted to reward individuals for current performance, as an incentive for future performance and to align the long-term interest of Named Executive Officers with Shareholders. Stock options and restricted stock units are granted under the 2016 Omnibus Share and Incentive Plan. Stock options are generally awarded to Named Executive Officers at commencement of employment. Stock options and restricted stock units are generally awarded to Named Executive Officers annually thereafter after taking into consideration the results of a competitive analysis that benchmarks long-term incentive awards granted to executives in comparable positions at peer companies. The size of the grants for both the stock options and restricted stock units are adjusted based on each Named Executive Officer’s performance against pre-determined corporate and personal performance goals used for annual incentive cash bonuses. From time to time, stock options and restricted stock units may be granted to retain executives or for other special purposes. The exercise price for the stock options is the closing price of the Common Shares on the date of grant of the options. For stock options granted to our Named Executive Officers during 2024, those awards vest (or remain eligible to vest) based on continued employment or service over a four-year period, with 1/48th of the shares subject to the option vesting in substantially equal monthly installments measured from one month following the grant date. For grants of restricted stock units to our Named Executive Officers during 2024, those awards vest (or remain eligible to vest) based on continued employment or service over a three-year period in three equal annual installments beginning one year