Board Justification

The Company’s compensation program is designed to attract and retain top executive talent, motivate executives to achieve strategic business objectives, and recognize individual performance and overall business performance, with the goal of aligning executive compensation with stockholder interests. The program considers both short-term performance, based on results from the most recent fiscal year, and long-term performance, which reflects the Company’s achievements and contributions to sustained stockholder value creation. To support these objectives, the Company has developed a comprehensive compensation strategy that links a substantial portion of executive compensation to performance outcomes.

Board Justification

The target annual bonus in 2024 is equivalent to 50% of annual base salary for Dr. Nguyen. For the 2024 performance year, based on a range of considerations including performance in the context of corporate goals and each individual’s contribution to Company performance, the Compensation Committee recommended to the Board of Directors, that Dr. Nguyen be paid a performance cash bonus equivalent to their Target Annual Cash Bonus.

Board Justification

N/A

Board Justification

RSUs granted on January 27, 2024, which vest in equal yearly installments over a period of three (3) years, with the 1/3 of such RSUs vesting on January 27, 2025, 1/3 of such RSUs vesting on January 27, 2026 and the remaining 1/3 of such RSUs vesting on January 27, 2027. Values are based on the closing price of the Common Stock on December 31, 2024 (the last trading day of 2024) of $6.01 per share plus the accrued dividend of $0.60 declared on March 12, 2024 which will be paid as the underlying RSUs vest.