PCVX: 10-Q financial filing

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 3, 2026, the Company entered into an amendment to the Executive Change in Control and Severance Agreement between the Company and Mikhail Eydelman, its Senior Vice President, General Counsel (as so amended, the “Amended Agreement”). In connection with certain organizational changes implemented as of August 31, 2026 impacting Mr. Eydelman’s role, Mr. Eydelman and the Company have formally agreed that he will remain employed until at least the earlier of (i) May 31, 2027 (the “Scheduled Date”), or (ii) the date on which an Early Termination Event occurs (the period between August 31, 2026 and the earlier to occur of the Scheduled Date or Early Termination Event, the “Continued Employment Period”). During the Continued Employment Period, Mr. Eydelman will continue to vest in his Company equity awards and to earn base salary and annual incentives as currently in effect. The Amended Agreement also preserves Mr. Eydelman’s Good Reason severance rights for the duration of the Continued Employment Period. Unless Mr. Eydelman’s employment continues past the Scheduled Date, upon his termination of employment for Good Reason, Mr. Eydelman will be entitled to receive the severance benefits that apply upon a termination of his employment for Good Reason under the Change in Control and Severance Agreement as previously disclosed, except that, pursuant to the Amended Agreement, the severance benefits to apply to Mr. Eydelman upon a Qualifying Termination are modified such that the references to 12 months have been reduced to 9 months. Capitalized terms not otherwise defined herein have the meanings set forth in the Ame