Twist Bioscience Corp
For the period ended Jan 6, 2025. Filed Jan 6, 2025.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Jan 6, 2025 · Filed Jan 6, 2025
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Contents
Pay Versus Performance
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between “compensation actually paid” to our CEO and to our other NEOs and certain financial performance of the Company. Compensation actually paid, as determined under SEC requirements, does not reflect the actual amount of compensation earned by or paid to our executive officers during a covered fiscal year. For further information concerning the Company’s pay-for-performance philosophy and how the Company aligns executive compensation with the Company’s performance, please refer to the CD&A.
| Value of Initial Fixed $100Investment Based On: | ||||||||
|---|---|---|---|---|---|---|---|---|
| Year (1)(a) | Summary Compensation Table Total for CEO(b) | Compensation Actually Paid to CEO (2)(c) | Average Summary Compensation Table Total for Non-CEO NEOs(d) | Average Compensation Actually Paid to Non-CEO NEOs (3)(e) | Total Shareholder Return(f) | Peer Group Total Shareholder Return(4)(g) | Net Income(in millions) (h) | Revenue (in millions)(5)(i) |
| 2024 | $7,620,611 | $24,977,300 | $2,683,449 | $6,359,699 | $59.47 | $115.57 | $(280.7) | $313.0 |
| 2023 | $7,998,637 | $3,219,824 | $3,086,321 | $1,648,641 | $26.67 | $95.05 | $(204.6) | $245.1 |
| 2022 | $5,917,663 | $(15,039,602) | $2,484,123 | $(3,534,350) | $46.39 | $89.85 | $(217.9) | $203.6 |
| 2021 | $1,281,593 | $18,054,219 | $728,146 | $6,408,876 | $140.81 | $120.21 | $(152.1) | $132.3 |
(1)The CEO and other NEOs for the indicated years were as follows: (i) for 2024, our CEO was Dr. Leproust and our other NEOs were Mr. Laponis, Dr. Finn, Ms. Green, Mr. Cho, Dr. Banyai, and Mr. Thorburn; (ii) for 2023, our CEO was Dr. Leproust and our other NEOs were Mr. Thorburn, Dr. Banyai, Dr. Finn, and Ms. Green; (iii) for 2022, our CEO was Dr. Leproust and our other NEOs were Mr. Thorburn, Dr. Banyai, Dr. Finn, Mr. Cho, and Mr. Weiss; and (iv) for 2021, our CEO was Dr. Leproust and our other NEOs were Mr. Thorburn, Dr. Banyai, Dr. Finn, and Mr. Weiss.
(2)Amounts reported in this column are based on total compensation reported for our CEO in the Summary Compensation Table for the indicated fiscal years and adjusted as shown in the tables below. Fair value of equity awards was computed in accordance with the Company’s methodology used for financial reporting purposes.
| Fiscal Year | Summary Compensation Table Total | Adjustment to Summary Compensation TableTotal(1) | Compensation Actually Paid |
|---|---|---|---|
| 2024 | $7,620,611 | $17,356,689 | $24,977,300 |
| 2023 | $7,998,637 | $(4,778,813) | $3,219,824 |
| 2022 | $5,917,663 | $(20,957,265) | $(15,039,602) |
| 2021 | $1,281,593 | $16,772,626 | $18,054,219 |
(1) See table below for calculation of Adjustment to Summary Compensation Table Total
| Fiscal Year | Deduction of Grant Date Fair Value of Current year Equity Awards | Addition of Fair Value of Current Year Equity Awards at Fiscal Year End | Additions (Deductions) for Change in Value of Prior Years’ Awards Unvested at Fiscal Year End | Additions (Deductions) for Awards that are Granted and Vest in the Same Covered Fiscal Year | Additions (Deductions) for Change in Value of Prior Years’ that Vested in Fiscal Year | Adjustment to Summary Compensation Table Total |
|---|---|---|---|---|---|---|
| 2024 | $(5,849,949) | $13,837,233 | $7,705,047 | $1,178,291 | $486,067 | $17,356,689 |
| 2023 | $(6,632,151) | $4,259,928 | $(1,518,003) | $208,413 | $(1,097,000) | $(4,778,813) |
| 2022 | $(4,521,127) | $2,416,154 | $(11,693,150) | $138,996 | $(7,298,138) | $(20,957,265) |
| 2021 | $— | $— | $9,403,372 | $— | $7,369,254 | $16,772,626 |
(3)Amounts reported in this column are based on the average of the total compensation reported for our other NEOs in the Summary Compensation Table for the indicated fiscal years and adjusted as shown in the tables below. Fair value of equity awards was computed in accordance with the Company’s methodology used for financial reporting purposes.
| Fiscal Year | Average Summary Compensation Table Total | Adjustment to Average Summary Compensation TableTotal(1) | Average Compensation Actually Paid |
|---|---|---|---|
| 2024 | $2,683,449 | $3,676,250 | $6,359,699 |
| 2023 | $3,086,321 | $(1,437,680) | $1,648,641 |
| 2022 | $2,484,123 | $(6,018,473) | $(3,534,350) |
| 2021 | $728,146 | $5,680,730 | $6,408,876 |
(1) See table below for calculation of Adjustment to Average Summary Compensation Table Total
| Fiscal Year | Deduction of Grant Date Fair Value of Current Year | Addition of Fair Value of Current Year Equity Awards at Fiscal Year End | Additions (Deductions) for Change in Value of Prior Years’ Awards Unvested at Fiscal Year End | Additions (Deductions) for Awards that are Granted and Vest in the Same Covered Fiscal Year | Additions (Deductions) for Change in Value of Prior Years’ that Vested in Fiscal Year | Adjustment to Average Summary Compensation Table Total |
|---|---|---|---|---|---|---|
| 2024 | $(1,855,631) | $3,422,378 | $1,713,610 | $254,130 | $141,763 | $3,676,250 |
| 2023 | $(2,319,610) | $1,220,625 | $(554,184) | $97,636 | $117,853 | $(1,437,680) |
| 2022 | $(1,795,865) | $975,053 | $(3,248,755) | $49,024 | $(1,997,930) | $(6,018,473) |
| 2021 | $— | $— | $3,217,733 | $— | $2,462,997 | $5,680,730 |
(4)For each indicated covered year, represents the cumulative TSR of the Nasdaq Biotechnology Index.
(5)In accordance with SEC rules, the Company is required to include in the Pay versus Performance table the “most important” financial performance measure (as determined by the Company) used to link compensation actually paid to our NEOs to Company performance for the most recently completed fiscal year. The Company determined revenue, which is a metric included in our incentive program, meets this requirement and therefore, we have included this performance measure in the Pay versus Performance table.
Description of the Relationship Between Compensation Actually Paid to our Named Executive Officers and Company Performance
The charts below describe the relationship between compensation actually paid (CAP) to our CEO and the average of the compensation actually paid to our other NEOs (as calculated above) and our financial and stock performance for the indicated years. In addition, the first chart below compares our cumulative total shareholder return (TSR) and peer group cumulative TSR for the indicated years.
Company’s Most Important Financial Performance Measures
The following were the most important financial performance measures (and non-financial performance measures), as determined by the Company, that link compensation actually paid to our NEOs to the Company’s performance for the most recently completed fiscal year.
Revenue
Adjusted Gross Profit
Ending Cash Balance
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.