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Proposal
No. |
| |
Vote
|
| |
Board
Recommendation |
| |
Routine or
Non-Routine |
| |
Discretionary
Voting by Broker Permitted? |
| |
Vote Required
for Approval |
| |
Impact of
Abstentions |
| |
Impact of
Broker Non- Votes |
|
|
1
|
| |
Election of Director Nominees
|
| |
FOR
|
| |
Non-routine, thus if you hold your shares in street name, your broker may not vote your shares for you if you do not provide instructions to your broker.
|
| |
No
|
| | Plurality | | | No impact | | | No impact | |
|
Proposal
No. |
| |
Vote
|
| |
Board
Recommendation |
| |
Routine or
Non-Routine |
| |
Discretionary
Voting by Broker Permitted? |
| |
Vote Required
for Approval |
| |
Impact of
Abstentions |
| |
Impact of
Broker Non- Votes |
|
|
2
|
| |
Non-binding and advisory resolution approving the compensation of our Named Executive Officers
|
| |
FOR
|
| |
Non-routine, thus if you hold your shares in street name, your broker may not vote your shares for you if you do not provide instructions to your broker.
|
| |
No
|
| |
Majority of votes cast affirmatively or negatively
|
| | No impact | | | No impact | |
|
3
|
| |
Ratification of independent registered public accounting firm
|
| |
FOR
|
| |
Routine, thus if you hold your shares in street name, your broker may vote your shares for you absent any other instructions from you.
|
| |
Yes
|
| |
Majority of votes cast affirmatively or negatively
|
| | No impact | | | No impact | |
Name
|
| |
Age
|
| |
Class
|
| |
Position
|
|
Keith Crandell | | |
62
|
| |
II
|
| | Compensation Committee Member and Nominating and Corporate Governance Committee Member | |
Jan Johannessen | | |
66
|
| |
II
|
| | Audit and Risk Committee Chair and Nominating and Corporate Governance Committee Member | |
Name
|
| |
Age
|
| |
Class(1)
|
| |
Position
|
|
Nelson Chan | | |
61
|
| |
I
|
| | Director, Audit and Risk Committee Member and Nominating and Corporate Governance Committee Member, Lead Director for ESG | |
Xiaoying Mai | | |
35
|
| |
I
|
| | Director and Audit and Risk Committee Member | |
Robert Ragusa(2) | | |
63
|
| |
I
|
| | Director | |
Melissa A. Starovasnik | | |
57
|
| |
I
|
| | Director and Compensation Committee Chair | |
Emily M. Leproust, Ph.D. | | |
49
|
| |
III
|
| | Chair of the Board and Chief Executive Officer | |
William Banyai, Ph.D. | | |
68
|
| |
III
|
| | Director, Senior Vice President of Advanced Development and General Manager of Data Storage | |
Robert Chess | | |
65
|
| |
III
|
| | Lead Independent Director, Compensation Committee Member and Nominating and Corporate Governance Committee Chair | |
Name
|
| |
Fees Earned
or Paid in Cash ($) |
| |
Stock
Awards(1) ($) |
| |
Option
Awards(2)(5) ($) |
| |
All Other
Compensation |
| |
Total ($)
|
| |||||||||||||||
Nicolas Barthelemy
|
| | | | 64,286 | | | | | | 214,976(3) | | | | | | — | | | | | | — | | | | | | 279,262 | | |
Nelson C. Chan
|
| | | | 58,430 | | | | | | 214,976(3) | | | | | | — | | | | | | — | | | | | | 273,406 | | |
Robert Chess
|
| | | | 81,969 | | | | | | 214,976(3) | | | | | | — | | | | | | — | | | | | | 296,945 | | |
Keith Crandell
|
| | | | 55,198 | | | | | | 214,976(3) | | | | | | — | | | | | | — | | | | | | 270,174 | | |
Jan Johannessen
|
| | | | 68,229 | | | | | | 214,976(3) | | | | | | — | | | | | | — | | | | | | 283,205 | | |
Xiaoying Mai
|
| | | | 53,229 | | | | | | 1,031,784(3)(4) | | | | | | 737,425(6) | | | | | | — | | | | | | 1,822,438 | | |
Robert Ragusa
|
| | | | 45,896 | | | | | | 214,976(3) | | | | | | — | | | | | | — | | | | | | 260,872 | | |
Melissa A. Starovasnik
|
| | | | 52,433 | | | | | | 214,976(3) | | | | | | — | | | | | | — | | | | | | 267,409 | | |
| | |
Member
Annual Retainer |
| |
Chair or
Lead Director Annual Retainer |
| ||||||
Board of Directors
|
| | | $ | 45,000 | | | | | $ | 65,000 | | |
Audit Committee
|
| | | | 10,000 | | | | | | 20,000 | | |
Compensation Committee
|
| | | | 7,500 | | | | | | 15,000 | | |
Nominating and Corporate Governance Committee
|
| | | | 5,000 | | | | | | 10,000 | | |
ESG
|
| | | | — | | | | | $ | 10,000 | | |
Board Diversity Matrix (As of December 30, 2022)
|
| ||||||||||||||||||||||||
| | | | | | | | |
10
|
| |||||||||||||||
Total Number of Directors
|
| |
Female
|
| |
Male
|
| |
Non-Binary
|
| |
Did Not
Disclose Gender |
| ||||||||||||
Part I: Gender Identity | | | | | | | | | | | | | | | | | | | | | | | | | |
Directors
|
| | | | 3 | | | | | | 7 | | | | | | — | | | | | | — | | |
Part II: Demographic Background | | | | | | | | | | | | | | | | | | | | | | | | | |
African American or Black
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Alaskan Native or Native American
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Asian
|
| | | | 1 | | | | | | 1 | | | | | | — | | | | | | — | | |
Hispanic or Latino
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Board Diversity Matrix (As of December 30, 2022)
|
| ||||||||||||||||||||||||
| | | | | | | | |
10
|
| |||||||||||||||
Total Number of Directors
|
| |
Female
|
| |
Male
|
| |
Non-Binary
|
| |
Did Not
Disclose Gender |
| ||||||||||||
Native Hawaiian or Pacific Islander
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
White
|
| | | | 2 | | | | | | 6 | | | | | | — | | | | | | — | | |
Two or More Races or Ethnicities
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
LGBTQ+
|
| | | | 1 | | | | | | — | | | | | | — | | | | | | — | | |
Did Not Disclose Demographic Background
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | |
Director Skills and Expertise
|
| |||||||||||||||||||||||||||||||||
Director
|
| |
Public
Company Board/CEO |
| |
Finance
Expert |
| |
Global
Commercial Operations |
| |
Risk
Oversight |
| |
Strategic
Planning |
| |
Technology
Innovation |
| ||||||||||||||||||
William Banyai
|
| | | | √ | | | | | | | | | | | | √ | | | | | | √ | | | | | | √ | | | | | | √ | | |
Nicolas Barthelemy
|
| | | | | | | | | | | | | | | | √ | | | | | | √ | | | | | | √ | | | | | | | | |
Nelson C. Chan
|
| | | | √ | | | | | | √ | | | | | | √ | | | | | | √ | | | | | | √ | | | | | | √ | | |
Robert Chess
|
| | | | √ | | | | | | √ | | | | | | | | | | | | √ | | | | | | √ | | | | | | √ | | |
Keith Crandell
|
| | | | | | | | | | √ | | | | | | | | | | | | √ | | | | | | √ | | | | | | √ | | |
Jan Johannessen
|
| | | | | | | | | | √ | | | | | | √ | | | | | | √ | | | | | | √ | | | | | | √ | | |
Emily M. Leproust
|
| | | | √ | | | | | | | | | | | | √ | | | | | | √ | | | | | | √ | | | | | | √ | | |
Xiaoying Mai
|
| | | | | | | | | | √ | | | | | | | | | | | | √ | | | | | | √ | | | | | | √ | | |
Robert Ragusa
|
| | | | √ | | | | | | | | | | | | √ | | | | | | √ | | | | | | √ | | | | | | √ | | |
Melissa A. Starovasnik
|
| | | | | | | | | | | | | | | | | | | | | | √ | | | | | | √ | | | | | | √ | | |
Stockholder Feedback
|
| |
How Twist Responded
|
|
Consider additional disclosure on Nelson C. Chan’s prior senior business advisor agreement | | | In our Form 10-Q for the quarter ended June 30, 2022, we included a disclosure that all payments from Mr. Chan’s legacy advisor agreement were complete. In addition, we included language in the same document, also included in this Proxy Statement, to clarify that Mr. Chan’s consulting services concluded before he joined our Board, and that any outstanding payments made to Mr. Chan resulted from payment owed to him under the legacy agreement. Full details are available above, in the section titled “Policies and Procedures for Related Party Transactions — Prior Senior Business Advisor Agreement with Nelson C. Chan.” | |
Consider additional disclosure on the Board’s response to Nelson C. Chan receiving less than majority of the votes cast or withheld for his election in 2021 | | |
Our understanding from engagement with stockholders and investor stewardship and governance groups is that there was confusion around Mr. Chan’s independence. These groups communicated that the language included in the proxy statement for fiscal year 2021 did not clearly indicate that Mr. Chan was not actively consulting for Twist. In addition, stockholders communicated that the language was not clear that Mr. Chan was owed payment as a result of the legacy consulting agreement, not an active consulting arrangement.
As disclosed in our Form 10-Q for the quarter ended June 30, 2022 and in this Proxy Statement, in July 2022, we completed the payments to Mr. Chan owed to him under the prior legacy agreement. Mr. Chan has not served as a consultant since he was appointed as a Board member.
Our Board continues to believe Mr. Chan remains an excellent board member whose expertise brings unique insight and perspective to our Board and the committees on which he serves. We derive numerous benefits from Mr. Chan’s service on the board, including his deep understanding of data storage, which is important for our long-term growth, particularly in our DNA data storage business. In addition, Mr. Chan serves on several boards and has broad experience in sustainability frameworks, efforts and objectives. As such, he is our lead ESG director overseeing our ESG programs, adding value to our long-term strategic objectives.
|
|
Consider providing detailed progress made toward remediation of material weaknesses during fiscal year 2022 and the path to fully remediate them | | |
Our Form 10-K for fiscal year 2021 disclosed the existence of three material weaknesses, and our Form 10-K for fiscal year 2022 disclosed one material weakness.
As of September 30, 2022, the one remaining material weakness related to the ineffective design and implementation of information technology general controls (“ITGCs”) in the areas of user access and program change-management for systems that support the Company’s financial reporting processes, and as a result, the operating effectiveness of our IT-dependent and automated controls (including certain controls that are responsive to the previously identified material weaknesses) have been assessed as ineffective and will remain as such
|
|
Stockholder Feedback
|
| |
How Twist Responded
|
|
| | |
until the ITGC material weakness has been remediated.
Our planned remediation efforts to remove the material weakness relating to ITGCs include:
•
Hiring experts with experience designing and implementing control activities, including ITGCs, both internally and as consultants/specialists
•
Implementing information technology (“IT”) policies, procedures and control activities for key systems which impact financial reporting
•
Investing in upgrading or replacing existing systems that do not have the appropriate infrastructure to meet our internal control framework
|
|
| | |
•
Performing additional training to ensure relevant employees possess a clear understanding of risk assessment, controls, monitoring of activities related to automated processes and systems as well as ITGCs related to financial reporting
Our Audit and Risk Committee, our Board and our management team are committed to the remediation of the material weakness described above and will continue to make the necessary investments to upgrade our organizational capabilities to remediate and strengthen our internal controls.
|
|
Name
|
| |
Age
|
| |
Position
|
|
Emily M. Leproust, Ph.D. | | |
49
|
| | Chief Executive Officer and Chair of the Board | |
Patrick Finn, Ph.D. | | |
51
|
| | President and Chief Operating Officer | |
James M. Thorburn | | |
67
|
| | Chief Financial Officer | |
William Banyai, Ph.D. | | |
68
|
| | Senior Vice President of Advanced Development, General Manager of Data Storage and Director | |
Dennis Cho | | |
52
|
| | Senior Vice President, General Counsel, Secretary and Chief Ethics and Compliance Officer | |
Paula Green | | |
55
|
| | Senior Vice President of Human Resources | |
Kevin Yankton | | |
56
|
| | Chief Accounting Officer | |
Financial Performance Goal
|
| |
Weighting
% |
| |
Threshold
(50% Payout) |
| |
Target
(100% Payout) |
| |
Maximum
(150% Payout) |
| |
FY2022
Results |
| |
Payout
|
| ||||||||||||||||||
Revenue
|
| | | | 50 | | | | | $ | 173M | | | | | $ | 192M | | | | | $ | 288M | | | | | $ | 191M(2) | | | | | | 100% | | |
Adjusted Gross Profit(1)
|
| | | | 20 | | | | | $ | 77M | | | | | $ | 86M | | | | | $ | 129M | | | | | $ | 84M | | | | | | 98% | | |
|
What We Do:
|
| |
What We Do Not Do:
|
|
|
✓
We reward performance that meets our predetermined goals
|
| |
×
Pay cash incentives if performance levels fall below pre-determined thresholds
|
|
|
What We Do:
|
| |
What We Do Not Do:
|
|
|
✓
A significant portion of our Chief Executive Officer (“CEO”) and NEOs’ compensation is performance-based or at risk
|
| |
×
Permit short-sales, hedging or pledging of our stock
|
|
|
✓
We have adopted stock ownership guidelines for our executives
|
| |
×
Enter into employment agreements that provide for fixed terms or automatic compensation increases or equity grants
|
|
|
✓
The compensation committee retains an independent compensation consultant
|
| |
×
Provide single-trigger change of control benefits
|
|
|
✓
The compensation committee is comprised of independent directors
|
| |
×
Provide for excessive cash severance
|
|
|
✓
We hold an annual advisory vote on executive compensation
|
| |
×
Provide our executives with golden parachute tax gross-ups and excessive perquisites
|
|
|
✓
We cap payouts under our plans to discourage inappropriate risk-taking by our NEOs
|
| |
×
Maintain any executive pension plans, or any retirement programs that are not generally available to all employees
|
|
|
✓
We provide for double-trigger change in control severance provisions
|
| | | |
| Attract and retain | | | Pay for performance | |
| Offer a total compensation program that flexibly adapts to changing economic, regulatory and organizational conditions, and takes into consideration the compensation practices of peer companies based on an objective set of criteria | | | Provide a significant portion of compensation through variable, performance-based components that are at-risk and based on satisfaction of designated financial and non-financial objectives | |
| Align executive interests with our stockholders | | | Reward actual achievement | |
| Compensate for achievement of short-term and long-term company financial and operating goals and refrain from providing “golden parachute” excise tax gross-ups, or accelerated equity vesting except in limited circumstances | | | Align the interests of our executives with our stockholders by tying a significant portion of total compensation to our overall financial and operating performance and the creation of long-term stockholder value | |
Compensation Element
|
| |
Form of Compensation
|
| |
Guaranteed vs. At-Risk
|
| |
Performance vs. Time-based
|
|
Base Salary | | |
Cash
|
| |
Guaranteed
|
| |
N/A
|
|
Annual Cash Incentive | | |
Cash
|
| |
At-Risk
|
| |
Performance-based
|
|
Long-term Incentive | | |
PRSU awards
Time-based RSU awards
|
| |
At-Risk
At-Risk
|
| |
Performance-based
Time-based
|
|
Termination and Change in Control Benefits | | |
Cash/Equity/Other
|
| |
N/A
|
| |
N/A
|
|
Other Benefits | | |
Other
|
| |
N/A
|
| |
N/A
|
|
2022 Base Salary
|
| |||
Philosophy
|
| |
Considerations
|
|
•
Attract and retain.
Provide fixed compensation to attract and retain key executives
|
| |
•
Salary reviewed and set annually
•
The factors used to determine base salaries include scope of responsibilities, individual and company performance, retention, date of last increase, equity ownership, internal equity, peer group data and the recommendations of our CEO (other than with respect to her own compensation)
|
|
Name
|
| |
2021 Base
Salary |
| |
2022 Base
Salary |
| |
Primary Reason of Change
|
| ||||||
Emily M. Leproust, Ph.D.
|
| | | $ | 590,083 | | | | | $ | 665,000 | | | |
Individual and company performance;
market competitiveness |
|
James M. Thorburn
|
| | | $ | 427,000 | | | | | $ | 450,000 | | | |
Individual and company performance;
market competitiveness |
|
William Banyai, Ph.D.
|
| | | $ | 400,000 | | | | | $ | 455,000 | | | |
Individual and company performance;
market competitiveness |
|
Patrick Finn, Ph.D.
|
| | | $ | 427,000 | | | | | $ | 456,000 | | | |
Individual and company performance;
market competitiveness |
|
Dennis Cho(1)
|
| | | | — | | | | | $ | 350,000 | | | | — | |
Patrick Weiss(2)
|
| | | $ | 427,000 | | | | | $ | 456,000 | | | |
Individual and company performance;
market competitiveness |
|
Fiscal Year 2022 Annual Cash Incentive Program
|
| |||||||||
Philosophy
|
| |
Target Amount
Considerations |
| |
Award Design
Considerations |
| |
Performance Conditions
|
|
•
Pay for Performance: Establish appropriate short-term performance conditions that the compensation committee believes will drive our future growth and profitability
|
| |
•
Factors used to determine target amounts included: role, scope of responsibilities, individual and company performance, current salary, equity ownership, internal equity, our peer group data and the recommendations of our CEO (other than with respect to her own compensation)
|
| |
•
Revenue and adjusted gross profit were chosen as the company performance goal because the compensation committee believes they are (i) the best indicators of financial success for our Company, (ii) are significant drivers of stockholder value creation, and (iii) align with our overall operating strategy and our fiscal year 2022 financial plan and guidance
•
A portion of each individual’s bonus was also earned based on achievement of key individual specific strategic objectives that were set for each NEO at the beginning of the first half and second half of fiscal year 2022
•
NEOs should not be awarded for performance that falls short of our company financial plan; therefore, the thresholds goal should be rigorous, and no amounts should be earned if the threshold goals are not satisfied
|
| |
•
Annual revenue target of $192 million
•
Adjusted gross profit target of $86 million (excluding stock-based compensation)
•
First half and second half strategic goals were tied to each individual’s business unit, but payout is on an annual basis
•
Opportunity to earn up to 150% of the target bonus amount for superior performance
|
|
•
Reward Achievement: Reward achievement of short-term performance conditions
|
| |||||||||
•
Align the interests of executives with those of our stockholders: 70% of payout tied to company performance consistent with fiscal year 2022 financial plan
|
| |||||||||
•
Attract and Retain Executives: Offer market competitive incentive opportunities
|
|
Name
|
| |
2021 Target
Incentive (% of Base Salary) |
| |
2022 Target
Incentive (% of Base Salary) |
| |
Primary Reason of Change
|
| ||||||
Emily M. Leproust, Ph.D.
|
| | | | 90% | | | | | | 90% | | | | — | |
James M. Thorburn
|
| | | | 50% | | | | | | 55% | | | | Individual and company performance; market competitiveness | |
William Banyai, Ph.D.
|
| | | | 50% | | | | | | 60% | | | | Individual and company performance; market competitiveness | |
Patrick Finn, Ph.D.
|
| | | | 50% | | | | | | 60% | | | | Individual and company performance; market competitiveness | |
Dennis Cho
|
| | | | 50% | | | | | | 50% | | | | — | |
Patrick Weiss(1)
|
| | | | — | | | | | | — | | | | — | |
Financial Performance Goal
|
| |
Weighting
% |
| |
Threshold
(50% Payout) |
| |
Target
(100% Payout) |
| |
Maximum
(150% Payout) |
| |
FY2022
Results |
| |
Payout
|
| ||||||||||||||||||
Revenue
|
| | | | 50 | | | | | $ | 173M | | | | | $ | 192M | | | | | $ | 288M | | | | | | 191M(2) | | | | | | 100% | | |
Adjusted Gross Profit(1)
|
| | | | 20 | | | | | $ | 77M | | | | | $ | 86M | | | | | $ | 129M | | | | | $ | 84M | | | | | | 98% | | |
Emily M. Leproust
|
| ||||||
FY 2022 Strategic Goals
|
| |
Results
|
| |
Total Payout
|
|
Factory of the Future | | |
CAPEX ordered, construction on time, hiring started, closed several key roles.
Support bringing up Factory of the Future. |
| |
100%
|
|
Develop and Drive Twist BioPharma Business | | | Final integration plan of Abveris into Twist. | | | | |
James M. Thorburn
|
| ||||||
FY 2022 Strategic Goals
|
| |
Results
|
| |
Total Payout
|
|
Develop and monitor a forecast with KPI’s | | | Ensure we have a strong balance sheet to support our growth initiatives. | | |
96%
|
|
Revenue Growth | | | Provide insights on business performance and track performance to business plan. | | | | |
Process | | | Remediate the three key material weaknesses identified in our | | | | |
James M. Thorburn
|
| ||||||
FY 2022 Strategic Goals
|
| |
Results
|
| |
Total Payout
|
|
| | | Form 10-K for fiscal year 2021. | | | | |
William Banyai
|
| ||||||
FY 2022 Strategic Goals
|
| |
Results
|
| |
Total Payout
|
|
Production Silicon | | |
Complete training plan.
Hire manager for South San Francisco.
|
| |
100%
|
|
Patrick Finn
|
| ||||||
FY 2022 Strategic Goals
|
| |
Results
|
| |
Total Payout
|
|
Develop and Drive Twist Biopharma Business | | | Final integration plan of Abveris into Twist. | | |
100%
|
|
Development and execution of M&A strategy | | | Development and execution of integration process and implementation as appropriate. | | | | |
Talent Management and Succession Planning | | | Complete department talent review to identify high potentials. | | | | |
Dennis Cho
|
| ||||||
FY 2022 Strategic Goals
|
| |
Results
|
| |
Total Payout
|
|
Commercial | | | Continue streamlining and simplifying commercial agreements, deploying them onto contract lifecycle management system, and educating internal clients on its use. | | |
100%
|
|
Corporate | | | Focus on streamlining global legal support for the Company’s growing international priorities. | | | | |
Strategic Partnership | | | Support strategic and M&A efforts of the Company at earliest stages as a thought partner. | | | | |
|
Fiscal Year 2022 Equity Incentive Program
|
| |||||||||
| | | |
Philosophy
|
| |
Grant Amount Considerations
|
| |
Vesting Provisions
|
|
| PRSU awards | | |
•
Pay for Performance: Establish appropriate performance conditions that the compensation committee believes will drive our future growth and profitability
•
Reward Achievement: Provide meaningful and appropriate incentives for achieving company annual financial goals that the compensation committee believes are important for our short- and long-term success
•
Attract and Retain Executives: Promote retention of our executives through requiring service through the performance period and date that the compensation committee certifies the performance results
|
| |
•
Factors used to determine the size of grants included: (i) the responsibilities, past performance, and anticipated future contributions of the NEO; (ii) the competitiveness of NEO’s overall compensation package with reference to peer group practices; (iii) the NEO’s existing equity holdings; (iv) the extent to which these holdings are vested; and (v) the recommendations of our CEO (other than with respect to her own compensation)
|
| |
•
Awards vest based on fiscal year 2023 revenue growth (80% weight) and adjusted gross profit (20% weight) goals, subject to the NEO’s continuous service through the date that the compensation committee certifies the performance results. See below for more information about the vesting provisions of our PRSU awards
|
|
|
Time-based
RSU awards |
| |
•
Attract and Retain Executives: Promote retention of our executives through four-year service vesting period
•
Align Interests with Stockholders: The value of RSU awards is correlated to our stock price
|
| |
•
Same factors used to determine size as above
•
Helps to manage dilution to existing investors
|
| |
•
Awards vest over four years, with 1/16th vesting on each quarterly anniversary of October 1, 2021, subject to the NEO’s continuous service on each applicable vesting date
|
|
Name
|
| |
Target Value
|
| |
Number of PRSU
Awards(1) Granted |
| |
Number of RSU
Awards Granted(2) |
| |||||||||
Emily M. Leproust, Ph.D.
|
| | | $ | 4,900,000 | | | | | | 39,479 | | | | | | 16,845 | | |
James M. Thorburn
|
| | | $ | 2,049,000 | | | | | | 17,495 | | | | | | 6,057 | | |
William Banyai, Ph.D.
|
| | | $ | 2,047,000 | | | | | | 17,472 | | | | | | 6,057 | | |
Patrick Finn, Ph.D.
|
| | | $ | 2,047,000 | | | | | | 17,472 | | | | | | 6,057 | | |
Dennis Cho
|
| | | $ | 1,542,000 | | | | | | 12,265 | | | | | | 5,460 | | |
Patrick Weiss
|
| | | $ | 2,047,000 | | | | | | 17,472 | | | | | | 6,057 | | |
|
Termination and Change of Control Protections
|
| ||||||
|
Philosophy
|
| |
Considerations
|
| |
Terms
|
|
|
•
Attract and Retain Executives:
•
Intended to ease an NEO’s transition due to an unexpected employment termination, or retirement
|
| |
•
The employment of our NEOs is “at will”, meaning we can terminate them at any time, and they can terminate their employment with us at any time
|
| |
Agreements with Certain NEOs:
•
Provide for certain cash payments, and/or the vesting of certain equity awards and COBRA benefits, in the event
|
|
|
Termination and Change of Control Protections
|
| ||||||
|
Philosophy
|
| |
Considerations
|
| |
Terms
|
|
|
•
Retain and encourage our NEOs to remain focused on our business and the interests of our stockholders when considering strategic alternatives
•
Align Interests with Stockholders: Mitigate any potential employer liability and avoid future disputes or litigation
|
| |
•
Arrangements should be designed to: (i) provide reasonable compensation to executive officers who leave our Company under certain circumstances to facilitate their transition to new employment and (ii) require a departing executive officer to sign a separation and release agreement acceptable to us as a condition to receiving post-employment compensation payments or benefits
•
“Double-trigger” provisions preserve morale and productivity, and encourage executive retention in the event of a change of control
•
These provisions are considered a typical component of a competitive executive compensation program for executives among our fiscal year 2022 peer group
|
| |
there is a separation of employment under various circumstances, subject to the execution of a release of claims
•
Provide for accelerated vesting of equity awards upon a change of control if the recipient is terminated by the acquiring entity in connection with the change of control under specified circumstances, subject to the execution of a release of claims
|
|
|
2022 Peer Group
|
| ||||||
| 10x Genomics | | | Invitae | | | Repligen | |
| Acceleron Pharma | | | NanoString Technologies | | | Sangamo Therapeutics | |
| Adaptive Biotechnologies | | | Natera | | | Ultragenyx Pharmaceutical | |
| CareDx | | | NeoGenomics | | | Veracyte | |
| Halozyme Therapeutics | | | Pacific Biosciences of California | | | | |
| Insmed | | | Quanterix | | | | |
|
Revised 2022 Peer Group
|
| ||||||
| 10x Genomics | | | Invitae | | | Repligen | |
| AbCellera Biologics Inc. | | | NanoString Technologies | | | Sangamo Therapeutics | |
| Adaptive Biotechnologies | | | Natera | | | Ultragenyx Pharmaceutical | |
| CareDx | | | NeoGenomics | | | Veracyte | |
| Halozyme Therapeutics | | | Pacific Biosciences of California | | | | |
| Insmed | | | Quanterix | | | | |
Name and Principal Position
|
| |
Year
|
| |
Salary
($) |
| |
Stock
Awards(1) ($) |
| |
Option
Awards(2) ($) |
| |
Non- Equity
Incentive Plan Compensation(3) ($) |
| |
All Other
Compensation ($) |
| |
Total
($) |
| |||||||||||||||||||||
Emily M. Leproust, Ph.D.
Chief Executive Officer and Chair of the Board |
| | | | 2022 | | | | | | 665,000 | | | | | | 4,521,127 | | | | | | — | | | | | | 596,106 | | | | | | 135,430(4) | | | | | | 5,917,663 | | |
| | | 2021 | | | | | | 590,083 | | | | | | — | | | | | | — | | | | | | 615,974 | | | | | | 75,536 | | | | | | 1,281,593 | | | ||
| | | 2020 | | | | | | 519,167 | | | | | | 2,267,336 | | | | | | 4,192,726 | | | | | | 452,192 | | | | | | 5,151 | | | | | | 7,436,572 | | | ||
James M. Thorburn
Chief Financial Officer |
| | | | 2022 | | | | | | 450,000 | | | | | | 1,890,519 | | | | | | — | | | | | | 243,540 | | | | | | 121,624(5) | | | | | | 2,705,683 | | |
| | | 2021 | | | | | | 427,000 | | | | | | — | | | | | | — | | | | | | 240,668 | | | | | | 104,043 | | | | | | 771,711 | | | ||
| | | 2020 | | | | | | 419,167 | | | | | | 753,271 | | | | | | 1,354,848 | | | | | | 218,820 | | | | | | 77,577 | | | | | | 2,823,683 | | | ||
William Banyai, Ph.D.
Senior Vice President of Advanced Development and General Manager of Data Storage |
| | | | 2022 | | | | | | 455,000 | | | | | | 1,888,673 | | | | | | — | | | | | | 271,908 | | | | | | 18,737(6) | | | | | | 2,634,318 | | |
| | | 2021 | | | | | | 400,000 | | | | | | — | | | | | | — | | | | | | 225,450 | | | | | | 2,667 | | | | | | 628,117 | | | ||
| | | 2020 | | | | | | 380,542 | | | | | | 774,968 | | | | | | 1,407,728 | | | | | | 208,788 | | | | | | 2,231 | | | | | | 2,774,257 | | | ||
Patrick Finn, Ph.D.
President and Chief Operating Officer |
| | | | 2022 | | | | | | 456,000 | | | | | | 1,888,673 | | | | | | — | | | | | | 272,506 | | | | | | 73,273(7) | | | | | | 2,690,452 | | |
| | | 2021 | | | | | | 427,000 | | | | | | — | | | | | | — | | | | | | 240,668 | | | | | | 58,683 | | | | | | 726,351 | | | ||
| | | 2020 | | | | | | 417,917 | | | | | | 774,968 | | | | | | 1,407,728 | | | | | | 225,120 | | | | | | 50,646 | | | | | | 2,876,379 | | | ||
Dennis Cho
Senior Vice President, General Counsel, Secretary and Chief Ethics and Compliance Officer |
| | | | 2022 | | | | | | 350,000 | | | | | | 1,422,786 | | | | | | — | | | | | | 174,300 | | | | | | 13,632(8) | | | | | | 1,960,718 | | |
Patrick Weiss
Consultant, Former Chief Operating Officer |
| | | | 2022 | | | | | | 418,000 | | | | | | 1,888,673 | | | | | | — | | | | | | — | | | | | | 122,770(9) | | | | | | 2,429,443 | | |
| | | 2021 | | | | | | 427,000 | | | | | | — | | | | | | — | | | | | | 240,668 | | | | | | 118,738 | | | | | | 786,406 | | | ||
| | | 2020 | | | | | | 398,751 | | | | | | 790,634 | | | | | | 1,447,438 | | | | | | 217,400 | | | | | | 163,862 | | | | | | 3,018,085 | | |
Name
|
| |
Year
|
| |
Probable
Outcome of Performance Conditions Grant Date Fair Value |
| |
Maximum
Outcome of Performance Conditions Grant Date Fair Value |
| |||||||||
Emily M. Leproust, Ph.D.
|
| | | | 2022 | | | | | $ | 3,168,979 | | | | | $ | 4,753,469 | | |
James M. Thorburn
|
| | | | 2022 | | | | | $ | 1,404,324 | | | | | $ | 2,106,485 | | |
William Banyai, Ph.D.
|
| | | | 2022 | | | | | $ | 1,402,477 | | | | | $ | 2,103,716 | | |
Patrick Finn, Ph.D.
|
| | | | 2022 | | | | | $ | 1,402,477 | | | | | $ | 2,103,716 | | |
Dennis Cho
|
| | | | 2022 | | | | | $ | 984,512 | | | | | $ | 1,476,727 | | |
Patrick Weiss
|
| | | | 2022 | | | | | $ | 1,402,477 | | | | | $ | 2,103,716 | | |
| | | | | | | | | | | |
Potential Future Payouts
Under Non-Equity Incentive Plan Awards(2) |
| |
Potential Future Payouts
Under Equity Incentive Plan Awards(3) |
| |
All Other
Stock Awards: Number of Shares or Stock Units (#) |
| |
Grant Date
Fair Value of Stock and Option Awards ($)(4) |
| ||||||||||||||||||||||||||||||||||||
Name
|
| |
Award Type
|
| |
Grant
Date(1) |
| |
Threshold
($) |
| |
Target
($) |
| |
Maximum
($) |
| |
Threshold
(#) |
| |
Target
(#) |
| |
Maximum
(#) |
| |||||||||||||||||||||||||||||||||
Emily M. Leproust, Ph.D.
|
| |
Annual Incentive(5)
|
| | | | | | | | | | 299,250 | | | | | | 598,500 | | | | | | 897,750 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| RSUs(6) | | | | | 12/27/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 16,845 | | | | | | 1,352,148 | | | ||
| PRSUs(7) | | | | | 12/27/2021 | | | | | | | | | | | | | | | | | | | | | | | | 19,739 | | | | | | 39,479 | | | | | | 59,218 | | | | | | | | | | | | 3,168,979 | | | ||
James M. Thorburn
|
| |
Annual Incentive(5)
|
| | | | | | | | | | 123,750 | | | | | | 247,500 | | | | | | 371,250 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| RSUs(6) | | | | | 12/27/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 6,057 | | | | | | 486,195 | | | ||
| PRSUs(7) | | | | | 12/27/2021 | | | | | | | | | | | | | | | | | | | | | | | | 8,747 | | | | | | 17,495 | | | | | | 26,242 | | | | | | | | | | | | 1,404,324 | | | ||
William Banyai, Ph.D.
|
| |
Annual Incentive(5)
|
| | | | | | | | | | 136,500 | | | | | | 273,000 | | | | | | 409,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| RSUs(6) | | | | | 12/27/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 6,057 | | | | | | 486,195 | | | ||
| PRSUs(7) | | | | | 12/27/2021 | | | | | | | | | | | | | | | | | | | | | | | | 8,736 | | | | | | 17,472 | | | | | | 26,208 | | | | | | | | | | | | 1,402,477 | | | ||
Patrick Finn, Ph.D.
|
| |
Annual Incentive(5)
|
| | | | | | | | | | 136,800 | | | | | | 273,600 | | | | | | 410,400 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| RSUs(6) | | | | | 12/27/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 6,057 | | | | | | 486,195 | | | ||
| PRSUs(7) | | | | | 12/27/2021 | | | | | | | | | | | | | | | | | | | | | | | | 8,736 | | | | | | 17,472 | | | | | | 26,208 | | | | | | | | | | | | 1,402,477 | | | ||
Dennis Cho
|
| |
Annual Incentive(5)
|
| | | | | | | | | | 87,500 | | | | | | 175,000 | | | | | | 262,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| RSUs(6) | | | | | 12/27/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,460 | | | | | | 438,274 | | | ||
| PRSUs(7) | | | | | 12/27/2021 | | | | | | | | | | | | | | | | | | | | | | | | 6,132 | | | | | | 12,265 | | | | | | 18,397 | | | | | | | | | | | | 984,512 | | | ||
Patrick Weiss
|
| |
Annual Incentive(5)
|
| | | | | | | | | | 136,800 | | | | | | 273,600 | | | | | | 410,400 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| RSUs(6) | | | | | 12/27/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 6,057 | | | | | | 486,195 | | | ||
| PRSUs(7) | | | | | 12/27/2021 | | | | | | | | | | | | | | | | | | | | | | | | 8,736 | | | | | | 17,472 | | | | | | 26,208 | | | | | | | | | | | | 1,402,477 | | |
| | |
Option Awards(1)
|
| |
Stock Awards(1)
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Grant Date
|
| |
Number of
Securities Underlying Unexercised Options Exercisable (#) |
| |
Number of
Securities Underlying Unexercised Options Unexercisable (#) |
| |
Equity
incentive plan awards: number of securities underlying unexercised unearned options (#) |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number of
Shares or Units of Stock That Have Not Vested(2) (#) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested (3) ($) |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units of Stock, or Other Rights That Have Not Vested(4) (#) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units of Stock, or Other Rights That Have Not Vested(5) ($) |
| ||||||||||||||||||||||||||||||
Emily M. Leproust, Ph.D.
|
| | | | 9/29/2015(6) | | | | | | 24,360 | | | | | | — | | | | | | — | | | | | | 5.95 | | | | | | 9/28/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 9/29/2017(7) | | | | | | 150,879 | | | | | | — | | | | | | — | | | | | | 8.82 | | | | | | 9/28/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 11/19/2018(8) | | | | | | 208,780 | | | | | | 57,759 | | | | | | — | | | | | | 26.66 | | | | | | 11/18/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 11/19/2018(9) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 28,560 | | | | | | 1,006,454 | | | | | | — | | | | | | — | | | ||
| | | 10/24/2019(10) | | | | | | 95,727 | | | | | | 35,563 | | | | | | — | | | | | | 23.33 | | | | | | 10/23/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 10/24/2019(11) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,575 | | | | | | 337,423 | | | | | | — | | | | | | — | | | ||
| | | 9/1/2020(12) | | | | | | — | | | | | | — | | | | | | 64,950 | | | | | | 67.85 | | | | | | 8/31/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 9/1/2020(13) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 12,179 | | | | | | 429,188 | | | | | | — | | | | | | — | | | ||
| | | 12/27/2021(15) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 59,218 | | | | | | 2,086,842 | | | ||
| | | 12/27/2021(16) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 13,689 | | | | | | 482,400 | | | | | | — | | | | | | — | | | ||
James M. Thorburn
|
| | | | 6/7/2018(14) | | | | | | 13,324 | | | | | | — | | | | | | — | | | | | | 11.59 | | | | | | 6/6/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 11/19/2018(8) | | | | | | 17,626 | | | | | | 19,721 | | | | | | — | | | | | | 26.66 | | | | | | 11/18/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 11/19/2018(9) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,752 | | | | | | 343,660 | | | | | | — | | | | | | — | | | ||
| | | 10/24/2019(10) | | | | | | 12,863 | | | | | | 9,685 | | | | | | — | | | | | | 23.33 | | | | | | 10/23/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 10/24/2019(11) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,608 | | | | | | 91,906 | | | | | | — | | | | | | — | | | ||
| | | 9/1/2020(12) | | | | | | — | | | | | | — | | | | | | 23,355 | | | | | | 67.85 | | | | | | 8/31/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 9/1/2020(13) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,383 | | | | | | 154,457 | | | | | | — | | | | | | — | | | ||
| | | 12/27/2021(15) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 26,242 | | | | | | 924,768 | | | ||
| | | 12/27/2021(16) | | | | | | — | | | | | | — | | | | | | | | | | | | | | | | | | | | | | | | 4,923 | | | | | | 173,487 | | | | | | — | | | | | | — | | | ||
William Banyai, Ph.D.
|
| | | | 9/29/2015(6) | | | | | | 84,166 | | | | | | — | | | | | | — | | | | | | 5.95 | | | | | | 9/28/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 9/29/2017(7) | | | | | | 141,161 | | | | | | — | | | | | | — | | | | | | 8.82 | | | | | | 9/28/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 11/19/2018(8) | | | | | | 71,283 | | | | | | 19,721 | | | | | | — | | | | | | 26.66 | | | | | | 11/18/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 11/19/2018(9) | | | | | | | | | | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,752 | | | | | | 343,660 | | | | | | — | | | | | | — | | | ||
| | | 10/24/2019(10) | | | | | | 28,948 | | | | | | 10,762 | | | | | | — | | | | | | 23.33 | | | | | | 10/23/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 10/24/2019(11) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,900 | | | | | | 102,196 | | | | | | — | | | | | | — | | | ||
| | | 9/1/2020(12) | | | | | | — | | | | | | — | | | | | | 23,355 | | | | | | 67.85 | | | | | | 8/31/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 9/1/2020(13) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,383 | | | | | | 154,457 | | | | | | — | | | | | | — | | | ||
| | | 12/27/2021(15) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 26,208 | | | | | | 923,570 | | | ||
| | | 12/27/2021(16) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,923 | | | | | | 173,487 | | | | | | — | | | | | | — | | |
| | |
Option Awards(1)
|
| |
Stock Awards(1)
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Grant Date
|
| |
Number of
Securities Underlying Unexercised Options Exercisable (#) |
| |
Number of
Securities Underlying Unexercised Options Unexercisable (#) |
| |
Equity
incentive plan awards: number of securities underlying unexercised unearned options (#) |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number of
Shares or Units of Stock That Have Not Vested(2) (#) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested (3) ($) |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units of Stock, or Other Rights That Have Not Vested(4) (#) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units of Stock, or Other Rights That Have Not Vested(5) ($) |
| ||||||||||||||||||||||||||||||
Patrick Finn, Ph.D.
|
| | | | 9/29/2017(7) | | | | | | 28,253 | | | | | | — | | | | | | — | | | | | | 8.82 | | | | | | 9/28/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 11/19/2018(8) | | | | | | 14,791 | | | | | | 19,721 | | | | | | — | | | | | | 26.66 | | | | | | 11/18/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 11/19/2018(9) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,752 | | | | | | 343,660 | | | | | | — | | | | | | — | | | ||
| | | 10/24/2019(10) | | | | | | 8,943 | | | | | | 10,762 | | | | | | — | | | | | | 23.33 | | | | | | 10/23/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 10/24/2019(11) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,900 | | | | | | 102,196 | | | | | | — | | | | | | — | | | ||
| | | 9/1/2020(12) | | | | | | — | | | | | | — | | | | | | 23,355 | | | | | | 67.85 | | | | | | 8/31/2030 | | | | | | | | | | | | | | | | | | — | | | | | | — | | | ||
| | | 9/1/2020(13) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,383 | | | | | | 154,457 | | | | | | — | | | | | | — | | | ||
| | | 12/27/2021(15) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 26,208 | | | | | | 923,570 | | | ||
| | | 12/27/2021(16) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,923 | | | | | | 173,487 | | | | | | — | | | | | | — | | | ||
Dennis Cho
|
| | | | 9/13/2021(17) | | | | | | 2,048 | | | | | | 6,146 | | | | | | — | | | | | | 115.93 | | | | | | 9/13/2031 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 9/13/2021(18) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,073 | | | | | | 108,293 | | | | | | — | | | | | | — | | | ||
| | | 12/27/2021(15) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 18,397 | | | | | | 648,310 | | | ||
| | | 12/27/2021(16) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,437 | | | | | | 156,360 | | | | | | — | | | | | | — | | | ||
Patrick Weiss
|
| | | | 9/29/2015(6) | | | | | | 49,447 | | | | | | — | | | | | | — | | | | | | 5.95 | | | | | | 9/28/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 9/29/2017(7) | | | | | | 46,292 | | | | | | — | | | | | | — | | | | | | 8.82 | | | | | | 9/28/2027 | | | | | | — | | | | | | — | | | | | | | | | | | | | | | ||
| | | 11/19/2018(8) | | | | | | 45,401 | | | | | | 25,662 | | | | | | — | | | | | | 26.66 | | | | | | 11/18/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 11/19/2018(9) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 12,690 | | | | | | 447,196 | | | | | | — | | | | | | — | | | ||
| | | 12/10/2019(10) | | | | | | 9,097 | | | | | | 10,762 | | | | | | — | | | | | | 23.33 | | | | | | 12/9/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 12/10/2019(11) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,900 | | | | | | 102,196 | | | | | | — | | | | | | — | | | ||
| | | 9/1/2020(12) | | | | | | — | | | | | | — | | | | | | 23,355 | | | | | | 67.85 | | | | | | 8/31/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 9/1/2020(13) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,383 | | | | | | 154,457 | | | | | | — | | | | | | — | | | ||
| | | 12/27/2021(15) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 26,208 | | | | | | 923,570 | | | ||
| | | 12/27/2021(16) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,923 | | | | | | 173,487 | | | | | | — | | | | | | — | | |
| | | | | | | | |
Option
Awards |
| |
Stock
Awards |
| | | | | | | ||||||
Name
|
| |
Number of
Shares Acquired on Exercise |
| |
Value
Realized on Exercise(1) ($) |
| |
Number of
Shares Acquired on Vesting |
| |
Value
Realized on Vesting(2) ($) |
| ||||||||||||
Emily M. Leproust, Ph.D.
|
| | | | 82,126 | | | | | | 8,177,111 | | | | | | 41,478 | | | | | | 2,502,126 | | |
James M. Thorburn
|
| | | | 44,274 | | | | | | 2,078,155 | | | | | | 13,831 | | | | | | 832,500 | | |
William Banyai, Ph.D.
|
| | | | 28,181 | | | | | | 2,772,245 | | | | | | 14,063 | | | | | | 847,058 | | |
Patrick Finn, Ph.D.
|
| | | | 19,084 | | | | | | 1,398,999 | | | | | | 14,063 | | | | | | 847,058 | | |
Dennis Cho
|
| | | | — | | | | | | — | | | | | | 2,388 | | | | | | 109,705 | | |
Patrick Weiss
|
| | | | 10,508 | | | | | | 773,894 | | | | | | 15,550 | | | | | | 959,830 | | |
Plan
|
| |
Shares
issuable upon exercise of outstanding plan options, warrants and rights (#) (a) |
| |
Weighted-
average exercise price of outstanding options, warrants and rights ($) (b) |
| |
Shares
remaining available for future issuance under plan (excluding those reflected in column (a)) (#) (c) |
| |||||||||
Equity compensation plan approved by security holders(1)
|
| | | | 3,272,573 | | | | | | 28.82 | | | | | | 1,418,162(2) | | |
Equity compensation plan not approved by security holders
|
| | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | | 3,272,573 | | | | | | 28.82 | | | | | | 1,418,162 | | |
|
Median Employee Total Compensation
|
| | | $ | 174,809 | | |
|
CEO’s Total Compensation
|
| | | $ | 5,917,663 | | |
|
Ratio of CEO to Median Employee Compensation
|
| |
33.9 to 1
|
|
| | | | | | | | |
Shares beneficially owned
|
| |||||||||||||||||||||
Name of beneficial owner
|
| |
Common
stock |
| |
Options
exercisable within 60 days |
| |
RSU
Awards vesting within 60 days |
| |
Aggregate
number of shares beneficially owned |
| |
%
|
| |||||||||||||||
5% or more stockholders: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
ARK Investment Management LLC(1)
|
| | | | 6,676,908 | | | | | | — | | | | | | — | | | | | | 6,676,908 | | | | | | 11.80 | | |
The Vanguard Group(2)
|
| | | | 4,323,608 | | | | | | — | | | | | | — | | | | | | 4,323,608 | | | | | | 7.64 | | |
BlackRock, Inc.(3)
|
| | | | 4,333,902 | | | | | | | | | | | | | | | | | | 4,333,902 | | | | | | 7.66 | | |
Named executive officers and directors: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Emily M. Leproust
|
| | | | 125,979 | | | | | | 508,468 | | | | | | 4,320 | | | | | | 638,767 | | | | | | 1.12 | | |
James M. Thorburn(4)
|
| | | | 17,880 | | | | | | 52,865 | | | | | | 1,386 | | | | | | 72,131 | | | | | | * | | |
William Banyai
|
| | | | 235,068 | | | | | | 334,942 | | | | | | 1,444 | | | | | | 571,454 | | | | | | 1.00 | | |
Patrick Finn
|
| | | | 18,726 | | | | | | 36,397 | | | | | | 1,444 | | | | | | 56,567 | | | | | | * | | |
Nicolas Barthelemy
|
| | | | 19,044 | | | | | | 23,549 | | | | | | 3,491 | | | | | | 46,084 | | | | | | * | | |
Nelson C. Chan
|
| | | | 5,587 | | | | | | 38,396 | | | | | | 3,491 | | | | | | 47,474 | | | | | | * | | |
Robert Chess
|
| | | | 50,275 | | | | | | 58,379 | | | | | | 3,491 | | | | | | 112,145 | | | | | | * | | |
Keith Crandell(5)
|
| | | | 76,047 | | | | | | 22,858 | | | | | | 3,491 | | | | | | 102,396 | | | | | | * | | |
Jan Johannessen
|
| | | | 1,159 | | | | | | 45,162 | | | | | | 3,491 | | | | | | 49,812 | | | | | | * | | |
Xiaoying Mai
|
| | | | 13,539 | | | | | | 22,858 | | | | | | 3,491 | | | | | | 39,888 | | | | | | * | | |
Robert Ragusa
|
| | | | 1,412 | | | | | | 12,270 | | | | | | 486 | | | | | | 14,168 | | | | | | * | | |
| | | | | | | | |
Shares beneficially owned
|
| |||||||||||||||||||||
Name of beneficial owner
|
| |
Common
stock |
| |
Options
exercisable within 60 days |
| |
RSU
Awards vesting within 60 days |
| |
Aggregate
number of shares beneficially owned |
| |
%
|
| |||||||||||||||
Melissa A. Starovasnik
|
| | | | 0 | | | | | | 913 | | | | | | 0 | | | | | | 913 | | | | | | * | | |
Patrick Weiss
|
| | | | 15,406 | | | | | | 42,021 | | | | | | 1,444 | | | | | | 58,871 | | | | | | * | | |
All current directors and executive officers as a group (15 persons)
|
| | | | 570,636 | | | | | | 1,210,585 | | | | | | 31,906 | | | | | | 1,813,877 | | | | | | 11.80 | | |
| | |
Fiscal 2022(4)
|
| |
Fiscal 2022(5)
|
| |
Fiscal 2021
|
| |||||||||
Audit Fees(1)
|
| | | $ | 3,432,250 | | | | | $ | 360,000 | | | | | $ | 3,297,500 | | |
Audit-Related Fees
|
| | | | — | | | | | $ | 325,000(3) | | | | | $ | 350,000(2) | | |
Tax Fees
|
| | | | — | | | | | | — | | | | | | — | | |
All Other Fees
|
| | | | — | | | | | | — | | | | | | — | | |
Total Fees
|
| | | $ | 3,432,250 | | | | | $ | 685,000 | | | | | $ | 3,647,500 | | |