Company: CYTK
Filing Date: 2025-03-31
Form Type: PRE 14A
Source: 0001140361-25-011212
Chunk: 97

Company: CYTOKINETICS INC
Filing Date: 2025-03-31
Form: PRE 14A
Chunk 97
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 Election to Receive Retainers in Cash or Equity Each non-employee director may make an annual election to receive his or her annual base retainer (but not committee retainers) either wholly in cash or to receive either 50% or 100% of that retainer in fully vested shares of Common Stock under the 2004 EIP of equal value (“Equity in Lieu of Cash Retainer Option”). Non-employee directors electing to receive 50% or 100% of their annual base retainer in fully vested Common Stock will receive such shares on the first business day of each calendar quarter for which the election is in effect. Initial and Annual Equity Grants to Non-Employee Directors Non-employee directors receive grants of stock options under the 2004 EIP. Under our Non-Employee Director Equity Compensation Policy, our non-employee directors receive an initial equity grant comprised of stock options to purchase shares of our Common Stock with a grant date fair value of $700,000 on joining the Board of Directors. This initial grant vests in equal monthly installments over three years. Continuing non-employee directors receive an annual recurring equity grant comprised of RSUs and stock options to purchase shares of our Common Stock with an aggregate grant date fair value of $440,000 on the date of our annual meeting of stockholders, the stock options of which will vest monthly over a period commencing on the grant date and ending on the earlier to occur of (x) the one-year anniversary of the date of the grant and (y) the date of Company’s annual meeting of stockholders for the calendar year immediately subsequent to the grant date, and the RSUs of which will vest in one installment on the earlier to occur of (x) the one-year anniversary of the grant date and (y) the date of the Company’s annual meeting of stockholders for the calendar year immediately subsequent to the grant date, in each case subject to the director's continuous service as a member of the Board of Directors. Our Board of Directors continues to have discretion to grant options to new and continuing non-employee directors. Prior to March 2024, a non-employee director that resigned from the Board of Directors had one year following resignation to exercise vested options, but such one-year period was subject to extension at the discretion of the Compensation Committee. In March 2024, our Board of Directors approved a modification of outstanding options held by our directors to provide that a non-employee director with less than five years of service on the Board of Directors that resigns