| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On June 18, 2024, upon the recommendation of its Nominating and Corporate Governance Committee, the Board of Directors of 10x Genomics, Inc. (the "Company") appointed Alan V. Mateo to the Board of Directors as a Class II director effective immediately with a term expiring at the Company's 2027 annual meeting of stockholders or until his successor is duly elected and qualified or until his earlier death, resignation, disqualification or removal.
Mr. Mateo currently serves as an advisor to Veeva Systems Inc., where he previously served as Executive Vice President, Global Sales from April 2015 to April 2024. Prior to joining Veeva, Mr. Mateo served in various executive roles at Medidata Solutions, Inc., a provider of a platform of cloud-based solutions for life sciences, from March 2005 to February 2015, including as Executive Vice President of Field Operations from January 2014 to February 2015. Before Medidata, Mr. Mateo spent nine years at PeopleSoft, where his responsibilities included product lines sales, sales operations and the integration of JD Edwards into PeopleSoft's global sales organization. Prior to PeopleSoft, Mr. Mateo was Northeast Sales Director for Red Pepper Software Co., a provider of supply chain management planning application software, and a major account executive at JD Edwards. Mr. Mateo earned a Bachelor of Science in both Computer Science and Marketing from Juniata College.
The Company believes Mr. Mateo is qualified to serve on the Board of Directors because of his senior management experience in the life science industry and his many years of commercial leadership experience.
Mr. Mateo will receive compensation as a non-employee director in accordance with the Company's Non-Employee Director Compensation Policy, which provides that Mr. Mateo will receive:
•an annual cash retainer of $55,000 for his service on the Board of Directors;
•a one-time grant of restricted stock units having a target value equal to $400,000 to be granted on July 31, 2024, which will vest as to one third of such grant on August 21, 2025 and thereafter in equal quarterly installments for the following two years, subject to his continued service through each vesting date; and
•an annual grant of restricted stock units having a target value equal to $215,000 to be granted on the date of the Company's annual meeting of stockholders, which will vest as to one fourth of such grant on the first to occur, on or following the date of the annual meeting on which such annual award is granted, of February 21, May 21, August 21 or November 21 following the date of such annual meeting and thereafter in equal quarterly installments, subject to his continued service through each vesting date.
In accordance with the Company's Non-Employee Director Compensation Policy, Mr. Mateo shall also be eligible to receive certain additional annual cash retainers in the event he serves as a member or chair of one or more committees of the Board of Directors.
Mr. Mateo, in connection with his appointment to the Board of Directors, has entered into the Company's standard indemnification agreement, the form of which has been filed as Exhibit 10.17 to the Company's Amendment No. 1 to Registration Statement on Form S-1 (File No. 333-233361) filed with the Securities and Exchange Commission on September 3, 2019.
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10x Genomics Inc. published this content on 20 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 June 2024 20:14:12 UTC.