other material
confidence high
sentiment neutral
materiality 0.60
Praxis Precision amends exec severance; CEO multiplier 1.75x, CFO/GC 1x
Praxis Precision Medicines, Inc.
- CEO Marcio Souza gets 1.75x base salary plus target bonus, plus prorated bonus, on change-in-control qualifying termination.
- CFO Timothy Kelly and GC Alex Nemiroff get 1.0x base salary plus target bonus, plus prorated bonus, on change-in-control termination.
- Outside change-in-control, CEO gets 12 months base salary continuation; CFO and GC get 9 months.
- Amendments add unpaid prior year bonus and pro-rata annual bonus for executives on qualifying termination.
- Accelerated vesting of time-based equity awards upon change-in-control termination; performance awards per existing plan.