Regeneron grants Schleifer, Yancopoulos 10-year PSU awards capped at 2.7M/2.9M shares

REGENERON PHARMACEUTICALS, INC.

2026 PSUs granted Sept 24, 2026 replace annual equity awards for CEO Leonard Schleifer and CSO George Yancopoulos until 2036; no other equity awards permitted before 2036.
Earnout: 10,000 PSUs per new product BLA/NDA filing, 15,000 per FDA approval, 12,500 per qualifying sBLA/sNDA; 1,800,000 PSUs if New Product Annual Revenues hit $30B.
Below $10B of new product revenue, no revenue PSUs are earned and activity PSUs cap at 100,000 (CEO)/300,000 (CSO); absolute caps are 2,700,000 and 2,900,000 PSUs.
Shares cannot be sold until February 2036; a relative TSR modifier vs the NASDAQ Biotechnology Index adjusts earned PSUs by +/-20%; 20% holdback applies before period end.
Regeneron formed a majority-owned New Subsidiary for a potential non-core opportunity; Schleifer and Yancopoulos each received a partly vesting stake; it has nominal value and no operations yet.

This headline and bullets were generated automatically by deepseek-v4.1-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.