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Quince Therapeutics, Inc.
<div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold">PAY VERSUS PERFORMANCE </div><div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As required by Section 953(a) of the Dodd-Frank Wall Street <div style="display:inline;">Reform</div> and Consumer Protection Act, and Item 402(v) of Regulation <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">S-K,</div> we are providing the following information about the relationship between executive compensation actually paid and certain financial performance of the Company. </div><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border-spacing:0;margin:0 auto">
<tr>
<td style="width:11%"></td>
<td style="vertical-align:bottom;width:1%"></td>
<td style="width:14%"></td>
<td style="vertical-align:bottom;width:1%"></td>
<td style="width:14%"></td>
<td style="vertical-align:bottom;width:1%"></td>
<td style="width:14%"></td>
<td style="vertical-align:bottom;width:1%"></td>
<td style="width:14%"></td>
<td style="vertical-align:bottom;width:1%"></td>
<td style="width:14%"></td>
<td style="vertical-align:bottom;width:1%"></td>
<td style="width:13%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align: bottom; white-space: nowrap; padding-bottom: 0.5pt;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">Year</div><div style="margin-top: 0pt; margin-bottom: 1pt; border-bottom: 1pt solid rgb(0, 0, 0); display: table-cell; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">(a)</div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; text-align: center; line-height: normal;">Summary<br/> Compensation<br/> Table Total for<br/> Dirk Thye</div><div style="margin-top: 0pt; margin-bottom: 1pt; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; text-align: center; line-height: normal;">(b)<div style="font-size:75%; vertical-align:top;display:inline;font-size:6.6px">(1)</div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; text-align: center; line-height: normal;">Compensation<br/> Actually Paid to<br/> Dirk Thye</div><div style="margin-top: 0pt; margin-bottom: 1pt; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; text-align: center; line-height: normal;">(c)<div style="font-size:75%; vertical-align:top;display:inline;font-size:6.6px">(2)</div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; text-align: center; line-height: normal;">Average Summary<br/> Compensation<br/> Table Total<br/> <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">for Non-CEO</div><br/> NEOs</div><div style="margin-top: 0pt; margin-bottom: 1pt; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; text-align: center; line-height: normal;">(d)<div style="font-size:75%; vertical-align:top;display:inline;font-size:6.6px">(3)</div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; text-align: center; line-height: normal;">Average<br/> Compensation<br/> Actually Paid to<br/> <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-CEO NEOs</div></div><div style="margin-top: 0pt; margin-bottom: 1pt; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; text-align: center; line-height: normal;">(e)<div style="font-size:75%; vertical-align:top;display:inline;font-size:6.6px">(4)</div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; text-align: center; line-height: normal;">Fixed $100<br/> Investment Based<br/> on Total<br/> Shareholder<br/> Return</div><div style="margin-top: 0pt; margin-bottom: 1pt; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; text-align: center; line-height: normal;">(f)<div style="font-size:75%; vertical-align:top;display:inline;font-size:6.6px">(5)</div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; text-align: center; line-height: normal;">Net Income<br/> (Loss)</div><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; text-align: center; line-height: normal;">(in millions)</div><div style="margin-top: 0pt; margin-bottom: 1pt; font-size: 8pt; font-family: "Times New Roman"; font-weight: bold; text-align: center; line-height: normal;">(h)<div style="font-size:75%; vertical-align:top;display:inline;font-size:6.6px">(6)</div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom">2025</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$2,411,125</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$3,944,367</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$1,169,613</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$1,727,759</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$525.57</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$(83.98)</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom">2024</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$2,732,125</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$3,365,648</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$1,129,463</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$1,289,891</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$293.38</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$(56.83)</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom">2023</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$1,330,500</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$2,491,503</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$1,004,325</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$948,782</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$164.73</td>
<td style="vertical-align:bottom"> </td>
<td style="vertical-align:bottom;white-space:nowrap;text-align:right">$(31.39)</td></tr></table><div style="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top;text-align:left">(1)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported in column (b) are the amounts of total compensation reported for Dr. Thye (who served as Chief Executive Officer during each of fiscal years 2025, 2024, and 2023) for each corresponding year in the “Total” column of the Summary Compensation Table. Dr. Thye is referred to herein as a “PEO.” Refer to “<div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Executive Compensation Tables—Summary Compensation Table</div></div>.” </div></td></tr></table>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top;text-align:left">(2)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to each PEO, respectively, as computed in accordance with Item 402(v) of Regulation <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">S-K.</div> The dollar amounts do not reflect the actual amount of compensation earned by or paid to each PEO in the applicable year. In accordance with the requirements of Item 402(v) of Regulation <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">S-K,</div> the following adjustments were made to PEO’s respective total compensation to determine the compensation actually paid in the applicable year: </div> </td></tr></table><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border-spacing:0;margin:0 auto">
<tr>
<td style="width:88%"></td>
<td style="vertical-align:bottom;width:3%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="2" rowspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div><br/> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Thye</div></div></td>
<td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Adjustments to Determine Compensation Actually Paid for PEO</div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">Summary Compensation Table Total<div style="font-size:75%; vertical-align:top;display:inline;font-size:8.3px">(a)</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom">$</td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,411,125</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Subtract: Adjustment for Grant Date Fair Value of Equity Awards Granted in Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,644,000</td>
<td style="white-space:nowrap;vertical-align:bottom">) </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add: Fair Value at Fiscal Year End of Outstanding and Unvested Equity Awards Granted in the Fiscal Year<div style="font-size:75%; vertical-align:top;display:inline;font-size:8.3px">(b)</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,094,017</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add/Subtract: Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Fiscal Years</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">990,280</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add: Fair Value at Vesting of Equity Awards Granted and Vested in the Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">359,956</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add/Subtract: Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior Fiscal Years that Vested in the Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">(267,011</td>
<td style="white-space:nowrap;vertical-align:bottom">) </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Subtract: Fair Value as of the Prior Fiscal Year End of Equity Awards Granted in Prior Fiscal Years that Failed to Meet Vesting Conditions in the Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">— </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add: Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Reflected in Total Compensation</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">— </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">Compensation Actually Paid</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom">$</td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">3,944,367</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr></table><div style="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%">
<tr style="page-break-inside:avoid">
<td style="width:4%"> </td>
<td style="width:5%;vertical-align:top;text-align:left">(a)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">We have not reported any amounts in our Summary Compensation Table for a change in pension value and, accordingly, the adjustments with respect to such items prescribed by the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">pay-versus-performance</div> rules are not relevant to our analysis and no adjustments have been made. </div></td></tr></table>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%">
<tr style="page-break-inside:avoid">
<td style="width:4%"> </td>
<td style="width:5%;vertical-align:top;text-align:left">(b)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The grant date fair value of equity awards represents the total of the amounts reported in the “Option Awards” column in the Summary Compensation Table for the applicable year. </div></td></tr></table>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top;text-align:left">(3)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s NEOs as a group (excluding the PEOs for each applicable year) (the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">“Non-PEO</div> NEOs”) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-PEO</div> NEOs included for purposes of calculating the average amounts in each applicable year are as follows: </div> </td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">2025 and 2024: Charles Ryan, Ph.D. and Brendan Hannah; and </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">2023: Charles Ryan, Ph.D., Brendan Hannah, and Karen Smith, M.D., Ph.D. </div><div style="margin-top:0pt;margin-bottom:0pt ; font-size:8pt"> </div><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top;text-align:left">(4)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-PEO</div> NEOs as a group , as computed in accordance with Item 402(v) of Regulation <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">S-K.</div> The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-PEO</div> NEOs as a group during the applicable year. The following adjustments were made to average total compensation for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-PEO</div> NEOs as a group for each year to determine the compensation actually paid in the applicable year: </div> </td></tr></table><div style="font-size:12pt;margin-top:0pt;margin-bottom:0pt"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border-spacing:0;margin:0 auto">
<tr>
<td style="width:90%"></td>
<td style="vertical-align:bottom;width:1%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Adjustments to Determine Average Compensation Actually Paid for <div style="white-space:nowrap;display:inline;">non-PEO</div> NEOs</div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">Total Reported in Summary Compensation Table(a)</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom">$</td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,169,613</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Subtract: Adjustment for Grant Date Fair Value of Equity Awards Granted in Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">(513,750</td>
<td style="white-space:nowrap;vertical-align:bottom">) </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add: Fair Value at Fiscal Year End of Outstanding and Unvested Equity Awards Granted in the Fiscal Year(b)</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">654,382</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add/Subtract: Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Fiscal Years</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">362,051</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add: Fair Value at Vesting of Equity Awards Granted and Vested in the Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">112,485</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add/Subtract: Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior Fiscal Years that Vested in the Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">(57,022</td>
<td style="white-space:nowrap;vertical-align:bottom">) </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Subtract: Fair Value as of the Prior Fiscal Year End of Equity Awards Granted in Prior Fiscal Years that Failed to Meet Vesting Conditions in the Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">—</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add: Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Reflected in Total Compensation</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">—</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">Compensation Actually Paid</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom">$</td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,727,759</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr></table><div style="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%">
<tr style="page-break-inside:avoid">
<td style="width:4%"> </td>
<td style="width:5%;vertical-align:top;text-align:left">(a)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">We have not reported any amounts in our Summary Compensation Table for a change in pension value and, accordingly, the adjustments with respect to such items prescribed by the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">pay-versus-performance</div> rules are not relevant to our analysis and no adjustments have been made. </div></td></tr></table>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%">
<tr style="page-break-inside:avoid">
<td style="width:4%"> </td>
<td style="width:5%;vertical-align:top;text-align:left">(b)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The grant date fair value of equity awards represents the total of the amounts reported in the “Option Awards” column in the Summary Compensation Table for the applicable year. </div></td></tr></table>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top;text-align:left">(5)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">Cumulative total shareholder return (“TSR”) is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period. </div></td></tr></table>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%">
<tr style="page-break-inside:avoid">
<td style="width:4%;vertical-align:top;text-align:left">(6)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported represent the amount of net income (loss) reflected in the Company’s audited financial statements for the applicable year. </div></td></tr></table>
2411125
3944367
1169613
1727759
525.57
-83980000
2732125
3365648
1129463
1289891
293.38
-56830000
1330500
2491503
1004325
948782
164.73
-31390000
Dr. Thye
Dr. Thye
Dr. Thye
<div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to each PEO, respectively, as computed in accordance with Item 402(v) of Regulation <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">S-K.</div> The dollar amounts do not reflect the actual amount of compensation earned by or paid to each PEO in the applicable year. In accordance with the requirements of Item 402(v) of Regulation <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">S-K,</div> the following adjustments were made to PEO’s respective total compensation to determine the compensation actually paid in the applicable year: </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border-spacing:0;margin:0 auto">
<tr>
<td style="width:88%"></td>
<td style="vertical-align:bottom;width:3%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="2" rowspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div><br/> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Thye</div></div></td>
<td rowspan="2" style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Adjustments to Determine Compensation Actually Paid for PEO</div></div></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">Summary Compensation Table Total<div style="font-size:75%; vertical-align:top;display:inline;font-size:8.3px">(a)</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom">$</td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,411,125</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Subtract: Adjustment for Grant Date Fair Value of Equity Awards Granted in Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">(1,644,000</td>
<td style="white-space:nowrap;vertical-align:bottom">) </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add: Fair Value at Fiscal Year End of Outstanding and Unvested Equity Awards Granted in the Fiscal Year<div style="font-size:75%; vertical-align:top;display:inline;font-size:8.3px">(b)</div></div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,094,017</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add/Subtract: Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Fiscal Years</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">990,280</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add: Fair Value at Vesting of Equity Awards Granted and Vested in the Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">359,956</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add/Subtract: Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior Fiscal Years that Vested in the Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">(267,011</td>
<td style="white-space:nowrap;vertical-align:bottom">) </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Subtract: Fair Value as of the Prior Fiscal Year End of Equity Awards Granted in Prior Fiscal Years that Failed to Meet Vesting Conditions in the Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">— </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add: Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Reflected in Total Compensation</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">— </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">Compensation Actually Paid</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom">$</td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">3,944,367</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr></table><div style="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%"> </div>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%">
<tr style="page-break-inside:avoid">
<td style="width:4%"> </td>
<td style="width:5%;vertical-align:top;text-align:left">(a)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">We have not reported any amounts in our Summary Compensation Table for a change in pension value and, accordingly, the adjustments with respect to such items prescribed by the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">pay-versus-performance</div> rules are not relevant to our analysis and no adjustments have been made. </div></td></tr></table>
<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border-spacing:0;width:100%">
<tr style="page-break-inside:avoid">
<td style="width:4%"> </td>
<td style="width:5%;vertical-align:top;text-align:left">(b)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The grant date fair value of equity awards represents the total of the amounts reported in the “Option Awards” column in the Summary Compensation Table for the applicable year. </div></td></tr></table>
2411125
-1644000
2094017
990280
359956
-267011
0
0
3944367
<div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s NEOs as a group (excluding the PEOs for each applicable year) (the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">“Non-PEO</div> NEOs”) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-PEO</div> NEOs included for purposes of calculating the average amounts in each applicable year are as follows: </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">2025 and 2024: Charles Ryan, Ph.D. and Brendan Hannah; and </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">2023: Charles Ryan, Ph.D., Brendan Hannah, and Karen Smith, M.D., Ph.D. </div>
<div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-PEO</div> NEOs as a group , as computed in accordance with Item 402(v) of Regulation <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">S-K.</div> The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-PEO</div> NEOs as a group during the applicable year. The following adjustments were made to average total compensation for the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-PEO</div> NEOs as a group for each year to determine the compensation actually paid in the applicable year: </div>
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<td></td>
<td></td>
<td></td></tr>
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<td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Adjustments to Determine Average Compensation Actually Paid for <div style="white-space:nowrap;display:inline;">non-PEO</div> NEOs</div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td>
<td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">2025</div></div></td>
<td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">Total Reported in Summary Compensation Table(a)</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom">$</td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,169,613</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Subtract: Adjustment for Grant Date Fair Value of Equity Awards Granted in Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">(513,750</td>
<td style="white-space:nowrap;vertical-align:bottom">) </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add: Fair Value at Fiscal Year End of Outstanding and Unvested Equity Awards Granted in the Fiscal Year(b)</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">654,382</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add/Subtract: Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Fiscal Years</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">362,051</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add: Fair Value at Vesting of Equity Awards Granted and Vested in the Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">112,485</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add/Subtract: Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior Fiscal Years that Vested in the Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">(57,022</td>
<td style="white-space:nowrap;vertical-align:bottom">) </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Subtract: Fair Value as of the Prior Fiscal Year End of Equity Awards Granted in Prior Fiscal Years that Failed to Meet Vesting Conditions in the Fiscal Year</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">—</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Add: Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Reflected in Total Compensation</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">—</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; font-weight: bold; line-height: normal;">Compensation Actually Paid</div></td>
<td style="vertical-align:bottom"> </td>
<td style="white-space:nowrap;vertical-align:bottom">$</td>
<td style="white-space:nowrap;vertical-align:bottom;text-align:right">1,727,759</td>
<td style="white-space:nowrap;vertical-align:bottom"> </td></tr></table><div style="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%"> </div>
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<td style="width:4%"> </td>
<td style="width:5%;vertical-align:top;text-align:left">(a)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">We have not reported any amounts in our Summary Compensation Table for a change in pension value and, accordingly, the adjustments with respect to such items prescribed by the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">pay-versus-performance</div> rules are not relevant to our analysis and no adjustments have been made. </div></td></tr></table>
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<td style="width:5%;vertical-align:top;text-align:left">(b)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The grant date fair value of equity awards represents the total of the amounts reported in the “Option Awards” column in the Summary Compensation Table for the applicable year. </div></td></tr></table>
1169613
-513750
654382
362051
112485
-57022
0
0
1727759
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<td style="width:4%;vertical-align:top;text-align:left">(5)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">Cumulative total shareholder return (“TSR”) is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period. </div></td></tr></table>
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<td style="width:4%;vertical-align:top;text-align:left">(6)</td>
<td style="vertical-align:top;text-align:left"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">The dollar amounts reported represent the amount of net income (loss) reflected in the Company’s audited financial statements for the applicable year. </div></td></tr></table><div style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Analysis of the Information Presented in the Pay versus Performance Table </div></div></div><div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In accordance with Item 402(v) of Regulation <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">S-K,</div> we are providing the following descriptions of the relationships between information presented in the Pay Versus Performance table above. </div>
<div style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Compensation Actually Paid and Cumulative TSR </div></div></div><div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following graph sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-PEO</div> NEOs, and the Company’s cumulative TSR over the three most recently completed fiscal years. </div>
<img alt="LOGO" src="g46981g57l01.jpg" style="width:5.75833in;height:3.38164in"/>
<div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Compensation Actually Paid and Net Income (Loss) </div></div></div><div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following graph sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-PEO</div> NEOs, and the Company’s net income (loss) over the three most recently completed fiscal years. </div>
<img alt="LOGO" src="g46981g00v58.jpg" style="width:5.75833in;height:3.39905in"/>
<div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">From time to time, the Company grants stock options to its employees, including the named executive officers. Historically, for executive officers, the Company has granted <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">new-hire</div> option awards on or soon after a new hire’s employment start date and annual refresh employee option grants in the first quarter of each fiscal year, which refresh grants are typically approved at the regularly scheduled meeting of the compensation committee occurring in such quarter. The Company also maintains an equity grant delegation policy (the “Equity Grant Policy”) pursuant to which the compensation committee has delegated to Dr. Thye, our Chief Executive Officer, and Mr. Hannah, our Chief Operating Officer and Chief Business Officer, the authority to grant <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">new-hire</div> option awards, within the guidelines and limits set forth in the Equity Grant Policy. Any <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">new-hire</div> option awards to be granted pursuant to the Equity Grant Policy are made on the second Tuesday of each month of the calendar year. Also, <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-employee</div> directors receive automatic grants of initial and annual stock option awards, at the time of a director’s initial appointment or election to the board and at the close of business on the date of each annual meeting of the Company’s stockholders, respectively, pursuant to the Outside Director Compensation Policy, as further described under the heading, “<div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Director <div style="white-space:nowrap;display:inline;">Compensation—Non-Employee</div> Director Compensation Arrangements</div></div>” below. The compensation committee considers whether there is any material nonpublic information (“MNPI”) about the Company when determining the timing of stock option grants and does not seek to time the award of stock options in relation to the Company’s public disclosure of MNPI. Option grants made pursuant to the Equity Grant Policy and the Outside Director Compensation Policy are awarded regardless of whether there is any MNPI about the Company on the regular, predetermined grant dates thereunder, and such grant dates are not specifically timed in relation to the Company’s disclosure of MNPI. The Company has not timed the release of MNPI for the purpose of affecting the value of executive compensation. </div>
Historically, for executive officers, the Company has granted <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">new-hire</div> option awards on or soon after a new hire’s employment start date and annual refresh employee option grants in the first quarter of each fiscal year, which refresh grants are typically approved at the regularly scheduled meeting of the compensation committee occurring in such quarter. The Company also maintains an equity grant delegation policy (the “Equity Grant Policy”) pursuant to which the compensation committee has delegated to Dr. Thye, our Chief Executive Officer, and Mr. Hannah, our Chief Operating Officer and Chief Business Officer, the authority to grant <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">new-hire</div> option awards, within the guidelines and limits set forth in the Equity Grant Policy. Any <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">new-hire</div> option awards to be granted pursuant to the Equity Grant Policy are made on the second Tuesday of each month of the calendar year. Also, <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-employee</div> directors receive automatic grants of initial and annual stock option awards, at the time of a director’s initial appointment or election to the board and at the close of business on the date of each annual meeting of the Company’s stockholders, respectively, pursuant to the Outside Director Compensation Policy, as further described under the heading, “<div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Director <div style="white-space:nowrap;display:inline;">Compensation—Non-Employee</div> Director Compensation Arrangements</div></div>” below.
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