Company: ASAN
Filing Date: 2025-06-25
Form Type: 8-K
Source: 0001477720-25-000132
Chunk: 1

Company: Asana, Inc.
Filing Date: 2025-06-25
Form: 8-K
Item: Item 5.02
Chunk 1
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 number of performance-based restricted stock units (“ PSUs”) with a total grant date value of $16,800,000. The number of RSUs and target number of PSUs to be granted will be calculated based on the average closing share price of the Company’s Class A Common Stock on each trading day for the month of June 2025. The maximum number of PSUs eligible to vest shall be equal to 200% of the target number of PSUs. The RSUs and PSUs will both be subject to the terms and conditions applicable to RSUs and PSUs granted under the Company’s 2020 Equity Incentive Plan and the applicable award agreements that Mr. Rogers will be required to sign as a condition of the grants.

The RSUs will vest over three years as follows: 40% of the RSUs will vest on the first anniversary of the vesting commencement date (as approved by the Board, the “ VCD”), and the remainder of the RSUs will vest in eight equal quarterly installments over the remaining two-year period (7.5% each installment) beginning on the date that is three months following the first anniversary of the VCD, in each case, subject to Mr. Rogers’ continuous service through the applicable vesting date.

The PSU grant will be eligible to vest in three tranches based on revenue growth (weighted at 20%) and relative total shareholder return (“rTSR”) (weighted at 80%) as follows: the first 20% of the maximum number of PSUs shall be eligible to vest based on revenue growth and rTSR over the first four quarters following the grant date, an additional 40% of the maximum number of PSUs shall be eligible to vest based on revenue growth and rTSR over the next four quarters following the first anniversary of the grant date, and the remaining 40% of the maximum number of PSUs shall be eligible to vest based on revenue growth and rTSR over the next four quarters following the second anniversary of the grant date, and in each case, such quarterly periods need not coincide with the Company’s fiscal year. With respect to the target number of PSUs in each tranche, performance below the 25th percentile will result in 0% vesting, performance at the 25th percentile will result in 50% vesting, performance at the 50th percentile will result in 100% vesting, and performance at the 75th percentile or above will result in 200% vesting, with