Company: RGNX
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0000950170-25-052069
Chunk: 88

Company: REGENXBIO Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 88
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 an award, on the exercise of an ISO, or on the sale of shares acquired pursuant to the exercise of an ISO (unless the sale is a “disqualifying disposition”).

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Payments Contingent on a Change in Control

In certain circumstances, the participant might be deemed to have received “parachute payments” under federal tax laws to the extent that a change in control of the Company increases the amount of an award or accelerates the participant’s rights under an award. Payments the participant receives under agreements or other arrangements outside of the 2025 Plan might also constitute parachute payments if they are contingent on a change in control of the Company. In general, if the present value of all parachute payments the participant receives equals or exceeds three times the participant’s “base amount” (the participant’s average annual compensation, generally determined over a five-year period), the participant will be subject to a 20% excise tax (in addition to regular tax) on the excess of the parachute payments over the participant’s base amount, and the Company will be denied any tax deduction for the excess.

Parachute payments and excess parachute payments do not include certain payments established by clear and convincing evidence to be “reasonable compensation” for services.

Tax Withholding

The Company generally must withhold federal income tax, state and local taxes, and the employee’s share of federal employment tax (if applicable) with respect to the amount of compensation income that an employee recognizes pursuant to an award granted under the 2025 Plan, or the issuance or sale of any shares of common stock in connection with such award. The tax laws generally permit the Company to withhold federal income tax at a flat rate (currently 22%, or 37% for compensation above $1 million), even if this flat rate is different from the employee’s usual income tax withholding rate. The Company will not be required to recognize any participant rights under an award, to issue shares of Common Stock under an award, or to recognize the disposition of such shares of Common Stock until such withholding obligations have been satisfied.

There is no withholding obligation with respect to the grant or exercise of ISOs.

Non-employee directors and consultants are not subject to tax withholding. To the extent that a non-employee director or consultant recognizes income under an award granted under the 2025 Plan, the non-employee director or consultant may be required to pay estimated tax, including self-employment tax, with respect to that income.

Section 409A of the Code

Certain types