CERUS CORP
For the period ended Apr 23, 2025. Filed Apr 23, 2025.
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Apr 23, 2025 · Filed Apr 23, 2025
Contents
SUMMARY COMPENSATION TABLE
The following table sets forth certain summary information for the year indicated with respect to the compensation earned by our principal executive officer, our principal financial officer and our three other most highly compensated executive officers at December 31, 2024. These individuals represent the Company’s NEOs.
SUMMARY COMPENSATION TABLE
| Name and Principal Position · Year · Salary · Bonus · Stock Awards · Option Awards · Non-Equity Incentive Plan Compensation · All Other Compensation · Total | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| ($) | ($)(1) | ($)(2) | ($) | ($)(3) | ($) | ($) | |||
| William M. Greenman | 2024 | 770,000 | 110,495 | 2,092,800 | — | — | 2,322 | (4) | 2,975,617 |
| President and | 2023 | 763,750 | — | 2,624,850 | — | 269,500 | 2,372 | 3,660,472 | |
| Chief Executive Officer | 2022 | 732,083 | — | 2,505,600 | 1,427,844 | 595,700 | 2,372 | 5,263,599 | |
| Kevin D. Green | 2024 | 488,119 | 53,693 | 725,940 | — | — | 1,242 | (5) | 1,268,994 |
| Vice President, Finance | 2023 | 484,208 | — | 854,042 | — | 122,030 | 1,292 | 1,461,572 | |
| and Chief Financial Officer | 2022 | 464,689 | — | 806,400 | 459,536 | 269,873 | 13,930 | 2,014,428 | |
| Vivek Jayaraman | 2024 | 548,402 | 60,324 | 872,000 | — | — | 3,142 | (6) | 1,483,868 |
| Chief Operating Officer | 2023 | 544,008 | — | 1,093,600 | — | 150,811 | 1,860 | 1,790,279 | |
| 2022 | 522,079 | — | 1,036,800 | 590,832 | 333,524 | 6,067 | 2,489,302 | ||
| Richard Benjamin | 2024 | 493,077 | 44,377 | 588,600 | — | — | 3,564 | (7) | 1,129,618 |
| Chief Medical Officer | 2023 | 489,126 | — | 738,600 | — | 110,942 | 3,614 | 1,342,282 | |
| 2022 | 470,773 | — | 604,800 | 344,652 | 245,353 | 3,614 | 1,669,192 | ||
| Chrystal Jensen | 2024 | 468,530 | 46,384 | 588,600 | — | — | 1,242 | (8) | 1,104,756 |
| Chief Legal Officer, General | 2023 | 464,776 | — | 738,600 | — | 105,419 | 1,292 | 1,310,087 | |
| Counsel and Secretary | 2022 | 446,900 | — | 604,800 | 344,652 | 233,139 | 12,122 | 1,641,613 | |
(1) Amounts included in this column represent the cash portion of the discretionary bonus paid under to our NEOs in 2024. 25% of the amount of such discretionary bonuses was paid in the form of cash and 75% of the amount was paid in the form of immediately-vested RSUs, with the number of such RSUs determined by dividing 75% of the amount of the discretionary bonus by $2.00. In accordance with applicable SEC disclosure rules, the grant date fair value of such RSUs will be included in the “Stock Awards” column of the Summary Compensation Table for 2025 in our proxy statement relating to our 2026 annual meeting of stockholders. The grant date fair values of the such RSUs awarded to Messrs. Greenman, Green, and Jayaraman, Dr. Benjamin and Ms. Jensen were $253,585, $123,226, $138,444, $101,844 and $106,453, respectively. For additional detail with respect to the amount included for 2024, see the discussion in the section entitled, “2024 Executive Compensation Components and Decisions—2024 Annual Bonuses” within the “Compensation Discussion and Analysis” section of this proxy statement.
(2) Amounts included in this column for 2024 represent the aggregate grant date fair value of RSU awards and PRSU awards granted in 2024 calculated in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation – Stock Compensation, or Topic 718, using the assumptions discussed in Note 12 to our financial statements for the fiscal year ended December 31, 2024 included in the Company’s Annual Report on Form 10-K filed with the SEC on February 26, 2025. The grant date fair value of each RSU award is measured based on the closing price of our common stock on the date of grant. The PRSU awards, in order to vest, require achievement of certain performance-based vesting conditions, including a revenue goal, during a three-year performance period. The grant date fair value of these PRSU awards was determined in accordance with Topic 718 based upon the probable outcome of the performance-based vesting conditions underlying such awards. Assuming the highest level of performance is achieved, the aggregate grant date fair value of such PRSU awards would be $1,678,600, $579,880, $697,600, $479,600 and $479,600, for Messrs. Greenman, Green, Jayaraman and Dr. Benjamin and Ms. Jensen, respectively. These amounts do not reflect whether the NEO has actually realized or will realize a financial benefit from the awards upon the vesting of the granted stock awards, or the sale of the shares underlying such stock awards. For additional detail, see the discussion in the section entitled “2024 Long-Term Incentive Compensation” within the “Compensation Discussion and Analysis” section of this proxy statement.
(3) In 2024, our NEOs agreed to forego any bonus opportunity under our Bonus Plan. See “2024 Executive Compensation Components and Decisions—2024 Annual Bonuses.”
(4) Represents group-term life insurance premiums in the amount of $2,322.
(5) Represents group-term life insurance premiums in the amount of $1,242.
(6) Represents group-term life insurance premiums in the amount of $1,242 and a remote employee stipend of $1,900.
(7) Represents group-term life insurance premiums in the amount of $3,564.
(8) Represents group-term life insurance premiums in the amount of $1,242.
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