Company: ERAS
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001193125-25-103868
Chunk: 38

Company: Erasca, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 38
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 approved the payment of annual bonuses to our NEOs at 115% of target levels. The annual bonuses paid to our NEOs for 2024 are reflected in the Summary Compensation Table above. Equity-based incentive awards Our equity-based incentive awards are designed to align our interests and the interests of our stockholders with those of our employees and consultants, including our NEOs. The Board and compensation committee is responsible for approving equity grants. We typically grant equity awards to new hires upon their commencing employment with us. Generally, our equity awards vest over four years, subject to the employee’s continued employment with us on each vesting date. In February 2024, we granted Drs. Lim, Chacko, and Morris options to purchase 1,500,000, 600,000, and 535,800 shares of our common stock, respectively, under our 2021 Incentive Award Plan (the 2021 Plan). The options are eligible to vest over a period of four years, with 1/48th of the options vesting on a monthly basis following the vesting commencement date, or February 1, 2024, subject to continuous service through each vesting date. These options are eligible for accelerated vesting on the terms provided in the Severance Plan. In June 2024, we granted Drs. Lim, Chacko, and Morris options to purchase 632,759, 278,812, and 137,142 shares of our common stock, respectively, under our 2021 Plan. The options are eligible to vest over a period of four years, with 1/48th of the options vesting on a monthly basis following the vesting commencement date, or June 20, 2024, subject to continuous service through each vesting date. These options are eligible for accelerated vesting on the terms provided in the Severance Plan. In February 2025, we granted Drs. Lim, Chacko, and Morris options to purchase 2,500,000, 800,000, and 780,000 shares of our common stock, respectively, under our 2021 Plan. The options are eligible to vest over a period of four years, with 1/48th of the options vesting on a monthly basis following the vesting commencement date, or February 1, 2025, subject to continuous service through each vesting date. These options are eligible for accelerated vesting on the terms provided in the Severance Plan