Company: ABUS
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001140361-25-012305
Chunk: 57

Company: Arbutus Biopharma Corp
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 57
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 account when determining the timing and terms of such option awards. Further, our Board and Compensation Committee has not timed, and does not plan to time, the disclosure of material nonpublic information for the purpose of affecting the value of equity compensation. In the year ended December 31, 2024, no options were granted to our Named Executive Officers during any period beginning four business days before the (i) filing of a periodic report on Form 10-Q or Form 10-K or (ii) the filing or furnishing a current report on Form 8-K that discloses material nonpublic information, and ending one business day after the filing or furnishing of such report with the SEC. 35

TABLE OF CONTENTS

DIRECTOR COMPENSATION To align the interests of non-executive directors with the long-term interests of Shareholders, our Board has approved the non-executive directors’ participation in our equity compensation plans, as well as an annual cash retainer. Members of our management team receive no additional consideration for acting as directors. Accordingly, Mr. McElhaugh did not receive any compensation for his service as a member of our Board during 2024. Mr. McElhaugh’s compensation for service as an employee for 2024 is presented above in the “Executive Compensation — Summary Compensation Table”section of this Proxy Statement/Circular. Further, each of Mr. Bishop and Mr. Gline have agreed to waive his respective right to all compensation as a director. Cash Compensation Consistent with Radford’s recommendation, our Board adopted the following non-employee director compensation policy:

| • | an annual cash retainer of $40,000 per annum for each non-executive director ($75,000 for the Chairperson of our Board); |

| • | an additional $20,000 for the Chairperson of our Audit Committee; |

| • | an additional $15,000 for the Chairperson of our Compensation Committee; |

| • | an additional $10,000 for the Chairperson of our Corporate Governance and Nominating Committee; |

| • | an additional $10,000 for each member of our Audit Committee; |

| • | an additional $7,500 for each member of our Compensation Committee; and |

| • | an additional $5,000 for each member of our Corporate Governance and Nominating Committee. |

Our directors are also entitled to reimbursement for reasonable travel and lodging expenses for attending Board and Committee meetings. Option Awards For 2024, new directors received an initial equity