DNA X Replaces Director Stock Grants With Cash Awards Due to Share Shortage
On August 21, 2026, DNA X's compensation committee approved cash awards for all Board members, including CEO Mike Mulica, in place of restricted stock units because not enough shares were available under the company's 2019 Equity Incentive Plan. Each award is tied to a notional grant valued at $60,000 that vests at the earlier of the 2027 annual meeting or a change in control, with the cash payout equal to the stock's value at that time.
Key points
- Compensation committee approved the cash awards on August 21, 2026.
- Each Board member's notional grant is valued at $60,000 at the August 21, 2026 stock price.
- Awards vest at the earlier of the 2027 annual meeting of stockholders or a change in control.
- The filing says unavailability of shares under the 2019 Equity Incentive Plan prompted the change.
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 27, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.