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S-1
VITAE PHARMACEUTICALS, INC filed this Form S-1 on 08/12/2014
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Table of Contents


EXECUTIVE COMPENSATION

Summary Compensation Table

        The following table provides information concerning the compensation paid to our President and Chief Executive Officer and our next two most highly compensated executive officers during the year ended December 31, 2013, which include our current Chief Scientific Officer and our former Chief Financial Officer. We refer to these individuals as our named executive officers.

Name and Principal Position
  Year   Salary ($)   Bonus($)(1)   Stock
Awards($)(2)
  Non-Equity
Incentive
Plan
Compensation
($)(3)
  Total ($)  
Jeffrey S. Hatfield     2013   $ 408,000   $ 100,000   $ 1,440,000 (4) $ 153,000   $ 2,101,000  

President and Chief Executive

                                     

Officer

                                     

Richard Gregg, M.D. 

 

 

2013

 

$

323,060

 

 


 

 


 

$

146,989

 

$

470,049

 

Chief Scientific Officer

                                     

Tina Fiumenero

 

 

2013

 

$

228,137

 

 


 

 


 

$

119,773

 

$

347,910

 

Former Chief Financial

                                     

Officer(5)

                                     

(1)
Represents discretionary bonus for the fiscal year ended December 31, 2013.

(2)
Represents the aggregate grant date fair value of stock awards granted during the year ended December 31, 2013. See Note 9 to our audited financial statements included elsewhere in this prospectus for a discussion of the assumptions made by us in determining the grant date fair value of our equity awards. In accordance with SEC rules, the grant date fair value of an award subject to performance conditions is based on the probable outcome of the conditions.

(3)
Represents payments based on achievement of certain corporate milestones established by our board of directors, as described below. The amounts included above reflect achievement at 110% of the target level for the first half of our fiscal year ended December 31, 2013 (with the exception of Mr. Hatfield, who received a discretionary bonus for such period), achievement at 100% for the second half of our fiscal year ended December 31, 2013, and an additional payment equal to 50% of the target amount for the second half of our fiscal year ended December 31, 2013, in recognition of overachievement of certain goals. Payments for the first half of our fiscal year ended December 31, 2013, were paid in July 2013, and payments for the second half of our fiscal year ended December 31, 2013, were paid in January 2014.

(4)
Represents restricted stock units, or RSUs, covering 9,000,000 shares of our common stock granted to Mr. Hatfield on November 20, 2013.

(5)
Ms. Fiumenero voluntarily resigned on May 23, 2014.

Narrative Explanation of Certain Aspects of the Summary Compensation Table

        Pursuant to the letter agreement he entered into with us in February 2004, as amended from time to time, Mr. Hatfield is eligible to receive a base salary and an annual performance bonus payable in cash, stock or a combination (but in no event will less than 50% be paid in cash) and based on the achievement of individual and corporate objectives.

        Pursuant to the letter agreement he entered into with us in January 2008, as amended from time to time, Dr. Gregg is eligible to receive a base salary and an annual performance bonus payable in cash, stock or a combination and based on the achievement of individual and corporate objectives.

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