secwatch.observer — SEC 8-K summary
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Issuer:     Kodiak Sciences Inc. (KOD)
CIK:        0001468748
Form:       8-K
Filed at:   2021-09-01T23:59:59+00:00
Accession:  0000950170-21-001601
Event type: other_material
Sentiment:  positive
Materiality: 0.45
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kodiak Sciences unveils 7-year performance stock option plan tied to share price milestones up to $800
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- NEOs and eligible employees may forgo up to 75% of annual equity awards for 7 years in exchange for one-time performance stock options.
- Options vest in tranches upon achieving stock price milestones: $200/share first, then $100 increments up to $800 (≈$50B market cap).
- Operational milestones include FDA approval of KSI-301 in wet AMD, DME, RVO and fiscal-year sales >$2.5B.
- 90% of eligible employees opted in; awards conditional on stockholder approval at special meeting in October 2021.
- Participants are economically worse-off below $400/share compared to continuing annual awards.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1468748/000095017021001601/0000950170-21-001601-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1468748/000095017021001601/kod-20210901.htm
  HTML page:      https://secwatch.observer/filing/0000950170-21-001601

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer