From the shareholders meeting announcement:
Annual Cash Incentive Plan and Cash Bonuses
Annual cash incentives are paid based on the Compensation Committee’s determinations regarding the satisfaction of corporate or individual performance goals, if any,
established by the committee and the committee’s evaluation of the individual performance of each executive officer in its sole discretion. Target amounts services during fiscal
year 2026 were set at 50% of base salary for Dr. Lalezari and at 40% of base salary for Mr. Hoffman and Mr. Blok.
In June 2026, the Compensation Committee met to discuss the attainment of fiscal 2026 performance goals that had been approved by the committee in August 2025. The
performance goals established for Dr. Lalezari, Mr. Hoffman, and Mr. Blok generally mirrored the strategic corporate goals approved by the Board for the Company. The
Compensation Committee concluded that the majority of the performance goals had been met and that the executive officers had made exemplary efforts during fiscal year
2026 that improved the Company’s prospects in future years. Accordingly, the Compensation Committee approved the payment of a discretionary bonus to Dr. Lalezari, Mr.
Hoffman, and Mr. Blok in the amount of $200,000 to each, respectively. All decisions considered foundational information and recommendations provided by Aon, accounted
for certain executives serving in multiple key roles, and further considered that the executive management team had met, or exceeded, a number of performance goals relating
to progress made in the company’s Phase 2 study, significant development towards strategic partnerships and/or supply agreements with third-parties to further the Company’s
studies, as well as the favorable resolution of then-pending legal matters.
Annual Cash Incentive Plan and Cash Bonuses
Annual cash incentives are paid based on the Compensation Committee’s determinations regarding the satisfaction of corporate or individual performance goals, if any,
established by the committee and the committee’s evaluation of the individual performance of each executive officer in its sole discretion. Target amounts services during fiscal
year 2026 were set at 50% of base salary for Dr. Lalezari and at 40% of base salary for Mr. Hoffman and Mr. Blok.
In June 2026, the Compensation Committee met to discuss the attainment of fiscal 2026 performance goals that had been approved by the committee in August 2025. The
performance goals established for Dr. Lalezari, Mr. Hoffman, and Mr. Blok generally mirrored the strategic corporate goals approved by the Board for the Company. The
Compensation Committee concluded that the majority of the performance goals had been met and that the executive officers had made exemplary efforts during fiscal year
2026 that improved the Company’s prospects in future years. Accordingly, the Compensation Committee approved the payment of a discretionary bonus to Dr. Lalezari, Mr.
Hoffman, and Mr. Blok in the amount of $200,000 to each, respectively. All decisions considered foundational information and recommendations provided by Aon, accounted
for certain executives serving in multiple key roles, and further considered that the executive management team had met, or exceeded, a number of performance goals relating
to progress made in the company’s Phase 2 study, significant development towards strategic partnerships and/or supply agreements with third-parties to further the Company’s
studies, as well as the favorable resolution of then-pending legal matters.
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