SEC Filings

AVEXIS, INC. filed this Form S-1 on 01/15/2016
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Table of Contents

Annual Base Salary

          We have entered into employment agreements with each of our named executive officers that establish annual base salaries, which are generally determined, approved and reviewed periodically by our compensation committee in order to compensate our named executive officers for the satisfactory performance of duties to our company. Annual base salaries are intended to provide a fixed component of compensation to our named executive officers, reflecting their skill sets, experience, roles and responsibilities. Base salaries for our named executive officers have generally been set at levels deemed necessary to attract and retain individuals with superior talent. The following table presents the annual base salaries for each of our named executive officers for 2015, as determined by the compensation committee. Such annual base salaries were effective for all of 2015 during the respective times that each named executive officer was employed by us. See "—Employment Agreements."

Base Salary

John A. Carbona


Sean P. Nolan


Sukumar Nagendran


Thomas J. Dee


Annual Bonus and Non-Equity Incentive Plan Compensation

          Under the terms of his employment agreement, Mr. Carbona was entitled to discretionary bonuses in 2014 and 2015 from time to time, as determined by our board of directors, and additional bonuses (not to exceed $625,000 in aggregate) should the value of our common stock, as traded on a national stock exchange, equal or exceed certain pre-defined thresholds for a period of 90 consecutive trading days, which we refer to as the valuation bonus. Mr. Carbona did not earn any discretionary bonuses or any valuation bonus in 2014 or 2015.

          Messrs. Nolan and Dee and Dr. Nagendran are entitled to annual bonuses calculated as a target percentage of their annual base salary based upon our board of directors' assessment of their performance and our company's attainment of targeted goals as set by the board of directors in their sole discretion, and communicated to each officer, except that Dr. Nagendran's employment agreement guarantees him a bonus of 40% of his annual base salary in 2015 only. For 2015, target bonuses will be based on the board's assessment of each executive's performance. For Messrs. Nolan and Dee, the amounts of such bonuses, which will be pro-rated for days of service in 2015, have not yet been determined by the board of directors as of the date of this prospectus. The board expects to make such determination in the first quarter of 2016. For Dr. Nagendran, the amount reported in the "Bonus" column above represents a one-time cash sign-on bonus of $75,000 and his guaranteed bonus of 40% of his annual base salary earned pursuant to his employment agreement, which is described further under "—Employment Agreements—Dr. Nagendran."

Equity-Based Awards

          Our equity-based incentive awards are designed to align our interests with those of our employees and consultants, including our executive officers. Our board of directors has historically been responsible for approving equity grants, although following the completion of this offering, our compensation committee will generally be responsible for approving equity grants. Vesting of equity awards is generally tied to continuous service with us and serves as an additional retention measure. Our executives generally are awarded an initial new hire grant upon commencement of employment. Additional grants may occur periodically in order to specifically incentivize executives


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