| | | | Sincerely, | |
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| | | | Richard Toselli, M.D. President, Chief Executive Officer and Director | |
| | | | By order of the Board of Directors, | |
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| | | | Richard Toselli, M.D. President, Chief Executive Officer and Director | |
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Proposal | | | Board Recommendation | |
(1) to elect two Class | ||||
| | | FOR | |
to ratify the selection by the Audit Committee of RSM US LLP as our independent registered public accounting firm for the fiscal year ending December 31, | | | FOR | |
| | Board Diversity Matrix (As of August 18, 2022) | | | | Board Diversity Matrix (As of December 5, 2023) | | | ||||||||||||||||||||||||||||||||
| | Total Number of Directors | | | | 6 | | | | Total Number of Directors | | | | 5 | | | ||||||||||||||||||||||||
| | | | | | Female | | | | Male | | | | Non-Binary | | | | Did Not Disclose Gender | | | | | | | | Female | | | | Male | | | | Non-Binary | | | | Did Not Disclose Gender | | |
| | Part I: Gender Identity | | | | | | | | | | | | | | | | | | | | Part I: Gender Identity | | | | | | | | | | | | | | | | | | |
| | Directors | | | | 2 | | | | 4 | | | | — | | | | — | | | | Directors | | | | 2 | | | | 3 | | | | — | | | | — | | |
| | Part II: Demographic Background | | | | | | | | | | | | | | | | | | | | Part II: Demographic Background | | | | | | | | | | | | | | | | | | |
| | African American or Black | | | | — | | | | — | | | | — | | | | — | | | | African American or Black | | | | — | | | | — | | | | — | | | | — | | |
| | Alaskan Native or Native American | | | | — | | | | — | | | | — | | | | — | | | | Alaskan Native or Native American | | | | — | | | | — | | | | — | | | | — | | |
| | Asian | | | | — | | | | — | | | | — | | | | — | | | | Asian | | | | — | | | | — | | | | — | | | | — | | |
| | Hispanic or Latinx | | | | — | | | | — | | | | — | | | | — | | | | Hispanic or Latinx | | | | — | | | | — | | | | — | | | | — | | |
| | Native Hawaiian or Pacific Islander | | | | — | | | | — | | | | — | | | | — | | | | Native Hawaiian or Pacific Islander | | | | — | | | | — | | | | — | | | | — | | |
| | White | | | | 2 | | | | 4 | | | | — | | | | — | | | | White | | | | 2 | | | | 3 | | | | — | | | | — | | |
| | Two or More Races or Ethnicities | | | | — | | | | — | | | | — | | | | — | | | | Two or More Races or Ethnicities | | | | — | | | | — | | | | — | | | | — | | |
| | LGBTQ+ | | | | — | | | | LGBTQ+ | | | | — | | | ||||||||||||||||||||||||
| | Did Not Disclose Demographic Background | | | | — | | | | Did Not Disclose Demographic Background | | | | — | | |
Name | | Fees Earned or Paid in Cash ($) | | Option Awards ($)(1) | | Total ($) | | | Fees Earned or Paid in Cash ($) | | Option Awards ($)(1) | | Total ($) | | ||||||||||||||||||||||||
Daniel R. Marshak, Ph.D. | | | | 53,431 | | | | | 13,857 | | | | | 67,288 | | | | | | 51,250 | | | | | 9,256 | | | | | 60,506 | | | ||||||
C. Ann Merrifield | | | | 77,500 | | | | | 13,857 | | | | | 91,357 | | | | | | 78,125 | | | | | 9,256 | | | | | 87,381 | | | ||||||
Richard J. Roberts, Ph.D. | | | | 48,750 | | | | | 13,857 | | | | | 62,607 | | | | | | 48,750 | | | | | 9,256 | | | | | 58,006 | | | ||||||
Christina Morrison | | | | 55,756 | | | | | 13,857 | | | | | 69,613 | | | | | | 57,500 | | | | | 9,256 | | | | | 66,756 | | | ||||||
Robert J. Rosenthal, Ph.D. | | | | 58,750 | | | | | 13,857 | | | | | 72,607 | | | | | | 58,750 | | | | | 9,256 | | | | | 68,006 | | |
Name and Principal Position | | Year | | Salary ($) | | Bonus ($)(1) | | Option Awards ($)(2) | | All Other Compensation ($) | | Total ($) | | | Year | | Salary ($) | | Bonus ($)(1) | | Option Awards ($)(2) | | All Other Compensation ($) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||
Richard Toselli President and Chief Executive Officer | | | | | 2021 | | | | | 516,672 | | | | | 409,032 | | | | | 139,266(3) | | | | | 14,566(4) | | | | | 1,079,536 | | | | | | | 2022 | | | | | 537,339 | | | | | 268,669 | | | | | 134,799(3) | | | | | 19,196(5) | | | | | 960,003 | | | ||||||||||
| | | 2020 | | | | | 499,200 | | | | | 353,600 | | | | | — | | | | | 17,127(5) | | | | | 869,927 | | | | | | 2021 | | | | | 516,672 | | | | | 409,032 | | | | | 139,266(4) | | | | | 14,566(6) | | | | | 1,079,536 | | | |||||||||||||
Richard Christopher Chief Financial Officer | | | | | 2021 | | | | | 355,212 | | | | | 254,569 | | | | | 69,633(6) | | | | | 18,422(7) | | | | | 697,836 | | | | | | | 2022 | | | | | 369,420 | | | | | 147,768 | | | | | 45,964(7) | | | | | 20,628(9) | | | | | 583,780 | | | ||||||||||
| | | 2020 | | | | | 343,200 | | | | | 217,360 | | | | | — | | | | | 18,375(8) | | | | | 578,935 | | | | | | 2021 | | | | | 355,212 | | | | | 254,569 | | | | | 69,633(8) | | | | | 18,422(10) | | | | | 697,836 | | | |||||||||||||
Heather Hamel Chief Legal Officer and General Counsel | | | | 2022 | | | | | 307,327 | | | | | 124,250 | | | | | 29,612(11) | | | | | 15,380(12) | | | | | 476,569 | | |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||||||||
Name | | | Award Grant Date | | | No. of Securities Underlying Unexercised Options (#) Exercisable | | | No. of Securities Underlying Unexercised Options (#) Unexercisable | | | Option Exercise Price ($) | | | Option Expiration Date | | | Award Grant Date | | | Number of Shares or Units of Stock That Have Not Vested (#) | | | Market Value of Shares or Units of Stock That Have Not Vested ($)(1) | | ||||||||||||||||||
Richard Toselli | | | 7/5/2017 | | | | | 18 | | | | | | — | | | | | | 47,812.50 | | | | 7/5/2027 | | | | | | | | | | | | | | | | | | | |
| | | 3/18/2021 | | | | | — | | | | | | 6,000(2) | | | | | | 27.50 | | | | 3/17/2031 | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9/25/2019 | | | | | | 92(3) | | | | | | 1,049 | | |
Richard Christopher | | | 1/14/2019 | | | | | 80 | | | | | | 40(4) | | | | | | 1,147.50 | | | | 1/14/2029 | | | | | | | | | | | | | | | | | | | |
| | | 3/18/2021 | | | | | — | | | | | | 3,000(2) | | | | | | 27.50 | | | | 3/17/2031 | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9/25/2019 | | | | | | 64(5) | | | | | | 722 | | |
| | | Option Awards | | ||||||||||||||||||||||||
Name | | | Award Grant Date | | | No. of Securities Underlying Unexercised Options (#) Exercisable | | | No. of Securities Underlying Unexercised Options (#) Unexercisable | | | Option Exercise Price ($) | | | Option Expiration Date | | ||||||||||||
Richard Toselli | | | 7/5/2017 | | | | | 18 | | | | | | — | | | | | | 47,812.50 | | | | | | 7/5/2027 | | |
| 3/18/2021 | | | | | 3,000 | | | | | | 3,000(1) | | | | | | 27.50 | | | | | | 3/17/2031 | | | ||
| 11/17/2022 | | | | | — | | | | | | 61,000(1) | | | | | | 2.50 | | | | | | 11/16/2032 | | | ||
Richard Christopher | | | 1/14/2019 | | | | | 120 | | | | | | — | | | | | | 1,147.50 | | | | | | 1/13/2029 | | |
| 3/18/2021 | | | | | 1,500 | | | | | | 1,500(1) | | | | | | 27.50 | | | | | | 3/17/2031 | | | ||
| 11/17/2022 | | | | | — | | | | | | 20,800(1) | | | | | | 2.50 | | | | | | 11/16/2032 | | | ||
Heather Hamel | | | 8/25/2014 | | | | | 1 | | | | | | — | | | | | | 49,500.00 | | | | | | 8/25/2024 | | |
| 12/10/2014 | | | | | 1 | | | | | | — | | | | | | 78,750.00 | | | | | | 12/10/2024 | | | ||
| 12/10/2015 | | | | | 1 | | | | | | — | | | | | | 138,187.50 | | | | | | 12/10/2025 | | | ||
| 1/18/2017 | | | | | 1 | | | | | | — | | | | | | 81,562.50 | | | | | | 1/18/2027 | | | ||
| 3/18/2021 | | | | | 480 | | | | | | 480(1) | | | | | | 27.50 | | | | | | 3/17/2031 | | | ||
| 11/17/2022 | | | | | — | | | | | | 13,400(1) | | | | | | 2.50 | | | | | | 11/16/2032 | | |
Name of Beneficial Owner | | | Number of Shares of Common Stock Beneficially Owned | | | Percentage of Common Stock Beneficially Owned | | ||||||
5% Stockholders | | | | | | | | | | | | | |
Brice Foose(1) | | | | | 330,000 | | | | | | | | |
Directors and Named Executive Officers | | | | | | | | | | | | | |
Richard Toselli, M.D.(2) | | | | | 36,911 | | | | | | 1.17% | | |
Richard Christopher(3) | | | | | 13,876 | | | | | | * | | |
Heather Hamel(4) | | | | | 7,697 | | | | | | * | | |
C. Ann Merrifield(5) | | | | | 5,098 | | | | | | * | | |
Richard J. Roberts, Ph.D.(6) | | | | | 4,818 | | | | | | * | | |
Christina Morrison(7) | | | | | 4,804 | | | | | | * | | |
Robert J. Rosenthal, Ph.D(8) | | | | | 4,800 | | | | | | * | | |
All current directors and executive officers as a group (7 persons)(9) | | | | | 78,004 | | | | | | 2.45% | | |
Fiscal Year | | | Number of Options Granted | | | Number of Time-based Restricted Stock Units Granted | | | Number of Restricted Stock Granted | | | Total Grants | | | Basic Weighted Average Shares Outstanding | | | Unadjusted Share Usage (Burn Rate) | | ||||||||||||||||||
2019 | | | | | — | | | | | | — | | | | | | 278 | | | | | | 278 | | | | | | 13,414 | | | | | | 2.1% | | |
2020 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 276,108 | | | | | | 0.0% | | |
2021 | | | | | 14,400 | | | | | | — | | | | | | — | | | | | | 14,400 | | | | | | 1,323,146 | | | | | | 1.1% | | |
Three-Year Average | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1.1% | | |
Name of Beneficial Owner | | | Number of Shares of Common Stock Underlying Options Granted | | | Number of Shares of Common Stock Underlying Restricted Stock Units Granted | | | Number of Shares of Common Stock Underlying Restricted Stock Granted | | |||||||||
Named Executive Officers | | | | | | | | | | | | | | | | | | | |
Richard Toselli, President and Chief Executive Officer | | | | | 6,018 | | | | | | 16 | | | | | | 92 | | |
Richard Christopher, Chief Financial Officer | | | | | 3,000 | | | | | | — | | | | | | 64 | | |
All current executive officers as a group | | | | | 9,018 | | | | | | 16 | | | | | | 156 | | |
All directors who are not executive officers as a group | | | | | 3,014 | | | | | | — | | | | | | — | | |
All nominees for election as a director: | | | | | | | | | | | | | | | | | | | |
Daniel Marshak | | | | | 603 | | | | | | — | | | | | | — | | |
Christina Morrison | | | | | 604 | | | | | | — | | | | | | — | | |
Associates of our executive officers, directors and nominees for director: | | | | | — | | | | | | — | | | | | | — | | |
All other persons who received 5% of such equity awards: | | | | | | | | | | | | | | | | | | | |
William D’Agostino, Former Senior Vice President, Operations | | | | | 1,206 | | | | | | — | | | | | | 54 | | |
Alex Aimetti, Former Vice President, Medical Education | | | | | — | | | | | | 4 | | | | | | — | | |
Melanie Golarz, Former Senior Director, Finance and Controller | | | | | — | | | | | | 4 | | | | | | — | | |
Lisa Rosario, Quality Assurance Inspector | | | | | — | | | | | | — | | | | | | 14 | | |
Heather Hamel, Vice President, Legal Affairs and Business Development | | | | | 962 | | | | | | — | | | | | | 30 | | |
Joshua Kennedy, Former Principal Chemical Engineer | | | | | — | | | | | | — | | | | | | 24 | | |
Name of Beneficial Owner | | | Number of Shares of Common Stock Underlying Options Granted | | | Number of Shares of Common Stock Underlying Restricted Stock Units Granted | | | Number of Shares of Common Stock Underlying Restricted Stock Granted | | |||||||||
All employees, including all current officers who are not executive officers as a group | | | | | 11,186 | | | | | | 24 | | | | | | 278 | | |
Firm | | Year | | Fees ($)(1) | | | Year | | Fee(1)($) | | ||||||||||||||||
RSM US LLP | | | | 2021 | | | | | 220,185 | | | | | | 2022 | | | | | 231,828 | | | ||||
| | | | 2020 | | | | | 212,588 | | | | | | 2021 | | | | | 220,185 | | |
Firm | | Year | | Fees ($)(1) | | | Year | | Fee(1)($) | | ||||||||||||||||
RSM US LLP | | | | 2021 | | | | | 7,875 | | | | | | 2022 | | | | | 26,250 | | | ||||
| | | | 2020 | | | | | 136,500 | | | | | | 2021 | | | | | 7,875 | | |
Plan Category | | | (a) Number of securities to be issued upon the exercise of outstanding options, warrants and rights | | | (b) Weighted-average exercise price of outstanding options, warrants and rights | | | (c) Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) | | |||||||||
Equity compensation plans approved by security holders(1) | | | | | 14,462 | | | | | $ | 431.89 | | | | | | 110,629 | | |
Equity compensation plans not approved by security holders(2) | | | | | 120 | | | | | | 1,147.50 | | | | | | — | | |
Total | | | | | 14,582 | | | | | $ | 437.78 | | | | | | 110,629 | | |