Company: VRCA
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001193125-25-079118
Chunk: 51

Company: Verrica Pharmaceuticals Inc.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 51
---
 and 1/48th of the total shares subject to the option shall vest each month thereafter on the same day of the month, subject to the officer’s service as of each such date. |

| (2) | 50% of the total shares subject to the option vest on March 14, 2026 and 50% of the total shares subject to the option vest on March 14, 2027, subject to the officer’s service as of each such date. |

For additional information about equity grants made historically to our named executive officers, please see “—Outstanding Equity Awards as of December 31, 2024” above. Employment Arrangements and Potential Payments upon Termination of Employment or Change in Control We have entered into employment agreements with each of our current named executive officers. Dr. Rieger We entered into an offer letter with Dr. Rieger, our President and Chief Executive Officer, in November 2024. Under the terms of the agreement, Dr. Rieger was initially entitled to receive an annual base salary of $300,000 and an annual bonus of up to 40% of his annual base salary based upon our Board of Directors’ assessment of Dr. Rieger’s performance and our attainment of targeted goals as set by the Board of Directors in their sole discretion. Dr. Rieger also entered into an employee confidential information, inventions, non-solicitationand non-competitionagreement with us. 39

Pursuant to the terms of his employment agreement, Dr. Rieger’s employment is at will and may be terminated at any time by us or Dr. Rieger. In the event that Dr. Rieger’s employment is terminated by us without cause or by Dr. Rieger for good reason within the 12 month period immediately following a Change in Control (as defined in the 2024 Inducement Plan), then all unvested shares subject to the option granted to Dr. Rieger on November 6, 2024 will vest in full and be deemed vested and exercisable as of the date of such Change in Control provided that Dr. Rieger timely executes and allows to become effective a separation agreement containing a release of claims in favor of us and other customary provisions in a form presented by us. Mr. Hayes We entered into an employment agreement with Mr. Hayes, our Chief Legal Officer, in August 2020. Under the terms of the agreement, Mr. Hayes was initially entitled to