Kodiak Sciences Inc · NASDAQ:KOD
Kodiak Sciences — Shareholder Meeting (October 2021)
14 slides from Kodiak Sciences's shareholder meeting presentation, Oct 5, 2021
Slide 1: Kodiak Long-Term Performance Incentive Plan Special Stockholder Meeting
Kodiak Long-Term Performance Incentive Plan Special Stockholder Meeting Date: October 13, 2021 10:00am Pacific Time KODIAK
Slide 2: Cautionary Statement Regarding Forward-looking Statements
CAUTIONARY STATEMENT REGARDING Forward-looking statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this presentation that are not historical facts are hereby identified as forward-looking statement
Slide 3: Kodiak's ambition is to become a global retinal development and commercialization franchise
Kodiak’s ambition is to become a global retinal development and commercialization franchise The product and technology platform for retinal medicines, which Kodiak developed over the past ten years, is maturing rapidly Tarcocimab tedromer (KSI-301), our lead investigational therapy, is being develop
Slide 4: Right time to implement a long-term incentive program
With the company at a pivotal juncture in its growth, this is the right time to implement a long-term incentive program that fits Kodiak’s unique circumstance Why do it? The Kodiak team is lean with fewer than 100 employees and has made strong progress towards treating and preventing the leading cau
Slide 5: LTPIP developed through a rigorous, director-driven process
The LTPIP and broader long-term performance incentive program were developed through a rigorous, director-driven process Kodiak’s independent directors proactively led the design, modeling and drafting of the LTPIP and the broader long-term performance incentive program Their objective was to create
Slide 6: Seeking shareholder approval for the LTPIP
KOD is seeking shareholder approval for a long-term performance incentive plan (the “LTPIP”) to align management incentives to significant value creation LTPIP and broader long-term performance incentive program covers the next 7 years and is open to a significant number of employees – not just seni
Slide 7: Key Design Choices
Key Design Choices 1 The maximum number of options available to an employee under his or her election is determined by: Estimating the number of options that would have been granted over the years of option grants being forgone by the employee if the stock were to appreciate to $800/share with strai
Slide 8: Estimating the maximum number of options
1 Estimating the maximum number of options Estimating the option awards that would have been granted over the years of option grants forgone, based on Kodiak’s historic compensation policy to grant options valued at the 60th percentile of our peer group, and then multiplying this number by 3 3x Conv
Slide 9: Options earned in tranches based on stock price appreciation
2 Options are earned in 7 tranches based on stock price appreciation between $200/share and $800/share (market cap $12B – $50B) Performance Milestones (Stock Price Based) Stock Price Goal ($) Tranche Earning Percentage (%) Cumulative Earning Percentage (%) Tranche 1 $200 7.50% 7.50% Tranche 2 $300 1
Slide 10: Up to 35% of the grant earned through operational milestones
3 Up to 35% of the grant can be earned through operational milestones, to the extent that amount has not been earned through stock appreciation (no double-dipping) Performance Milestones (Operational) Operational Milestone Milestone Earning Percentage (%) FDA Approval of KSI-301 in wet AMD, DME and
Slide 11: Hypothetical Example 1: Price reaches $400/share
Vested Earned, not vested No incremental earning 11 Hypothetical Example 1: Price reaches $400/share (Tranche 3 earned) + Biologics License Application (BLA) approved and Sales Milestones achieved October 2021 100.0% 92.5% 17.5% 17.5% 20.0% 75.0% 20.0% 55.0% 7.5% 7.5% Granted Tranche 2 $2.5B Rev. BL
Slide 12: Hypothetical Example 2: Price reaches $500/share
Vested Earned, not vested No incremental earning 11 Hypothetical Example 2: Price reaches $500/share (Tranche 4 earned) + Biologics License Application (BLA) approved and Sales Milestones achieved October 2021 100.0% 92.5% 17.5% 17.5% 20.0% 75.0% 25.0% 20.0% 55.0% 25.0% 30.0% 7.5% 7.5% Granted Tranc
Slide 13: LTPIP aligns management with shareholders through Change in Control events
LTPIP aligns management with shareholders through Change in Control (CIC) events with balanced consideration of M&A Incentivized to maximize M&A value Outstanding award is earned on a pro rata basis based on the per share price received by the Company’s stockholders in a CIC transaction meeting or e
Slide 14: Kodiak Sciences Inc. addresses
Kodiak Sciences Inc. 1200 Page Mill Road Palo Alto, CA 94304 United States of America KODIAK SCIENCES GMBH DAMMSTRASSE 19 6300 ZUG SWITZERLAND KODIAK SCIENCES VALAIS GMBH ROTTENSTRASSE 5 3930 VISP SWITZERLAND COPYRIGHT © 2021 KODIAK SCIENCES INC.