Verastem Inc

1. 1

   Election of Class II Directors (Michael Bailey, Brian Stuglik, and Karin Tollefson

   ManagementBoard: FOR

   Elect three nominees (Michael Bailey, Brian Stuglik, and Karin Tollefson) as Class II directors, each for a three-year term.

2. 2

   Approval of the Amended and Restated 2021 Equity Incentive Plan

   ManagementBoard: FOR

   Approve the Company’s Amended and Restated 2021 Equity Incentive Plan to increase the number of shares available for issuance by 12,000,000 shares and adopt related plan terms.

   More detail

   This proposal asks shareholders to approve an amended and restated version of Verastem’s 2021 equity incentive plan, principally to add 12,000,000 additional shares to the pool available for grants. Management is seeking approval because it anticipates continued need for equity awards to attract, retain and incentivize employees, executives and non-employee directors following the company’s commercialization transition and recent hiring and grant activity. The Board and Compensation Committee cite historical grant rates (multi-year burn), projected headcount and plan run-rate, peer company practices and advice from an independent compensation consultant (Pearl Meyer) as the basis for determining the size of the requested increase. The amendment also contains governance-friendly features highlighted by management—no evergreen provision, prohibitions on discounted options and automatic repricing without shareholder approval, limits on dividend equivalents and limits on non-employee director compensation—intended to address common investor concerns about equity plan design. Potential stockholder considerations include the incremental dilution (the filing estimates potential dilution rising from ~6.2% to ~18.1% if the increase is approved) and the expected runway of the added shares (management estimates one to two years of award capacity). The Board’s recommendation is to approve because it views equity compensation as central to long-term alignment of employees with stockholders and necessary to compete in the biotech labor market. From a governance perspective, the plan attempts to balance management flexibility with safeguards; nevertheless, investors should weigh the magnitude of the share increase against company growth prospects, recent hiring and grant cadence, and the stated limits on recycling and repricing. If approved, the plan will materially expand the company’s ability to grant stock options, RSUs and other awards and thereby affects potential future dilution and incentive alignment dynamics.

3. 3

   Approval of the Amended and Restated 2018 Employee Stock Purchase Plan

   ManagementBoard: FOR

   Approve the Company’s Amended and Restated 2018 Employee Stock Purchase Plan to increase the number of shares available for issuance by 5,000,000 shares.

   More detail

   This proposal requests shareholder approval to amend and restate Verastem’s 2018 Employee Stock Purchase Plan by adding 5,000,000 shares to the plan’s share reserve. Management frames this as a workforce and retention tool, enabling eligible employees to purchase shares at a discount (typically 85% of the lesser of the offering-period start or end price) and thereby fostering employee ownership and alignment with stockholders. The Board considered participation history, projected employee participation rates, dilutive impact (management reports the amended ESPP would represent approximately 5.7% of outstanding shares), and proxy-advisor guidelines in setting the requested pool size, with input from Pearl Meyer. Investors will balance the benefits of wider employee ownership and morale against the incremental dilution and the overlap with the equity incentive plan’s expanded share pool. The plan is designed to qualify under Section 423 of the Code, which affords tax advantages to participating employees but also imposes eligibility and per-employee limits that constrain dilution per participant. The Board’s unanimous recommendation to approve reflects the view that the ESPP is a standard, governance-friendly mechanism to promote retention and align employees’ interests with long-term value creation. From an analytic perspective, the proposal is routine for growth-stage companies but the requested increase is sizeable and should be evaluated together with Proposal No. 2’s larger equity-authority request and the company’s overall cap table and run-rate projections. If approved, the ESPP will expand employee purchase capacity for the next several years and is expected to modestly increase overall dilution while supporting recruitment and retention.

4. 4

   Ratification of Selection of Ernst & Young LLP as Independent Registered Public Accounting Firm

   ManagementBoard: FOR

   Ratify the Audit Committee’s selection of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026.

5. 5

   Advisory Vote on Executive Compensation (Say-on-Pay

   ManagementBoard: FOR

   Provide a non-binding, advisory vote to approve the compensation of the Company's named executive officers as disclosed in the proxy statement.

   More detail

   This is a non-binding advisory “say-on-pay” proposal asking shareholders to approve the compensation paid to Verastem’s named executive officers as disclosed in the proxy materials. Management’s rationale emphasizes that the compensation program balances responsible pay practices with incentives to achieve clinical, commercial and enterprise value goals during the company’s transition to a commercial-stage biopharma. The Compensation Committee used peer-group benchmarking and an independent consultant (Pearl Meyer) to inform base salaries, annual bonus targets, and equity grants, and structured bonuses around company performance metrics (clinical, commercialization, enterprise value) and individual performance. The vote is advisory only, but the Board and Compensation Committee state they will consider the vote outcome when making future pay decisions, giving investors a mechanism to influence pay philosophy and execution. Key investor considerations include the level and form of equity awards, performance metrics tied to vesting, severance/change-in-control terms and the company’s recent transition to generate product revenue, which affects pay versus performance assessments. Although the vote does not change compensation contracts directly, a significant negative vote would typically prompt engagement and potential design changes; conversely, strong support signals alignment. Analysts should assess the disclosed pay, the company’s reported 2025 performance (including product launch and revenue), and the stated governance controls (clawback policy, limits on director compensation) in evaluating the appropriateness of pay outcomes under this proposal.

6. 6

   Consideration of Other Business Properly Coming Before the Annual Meeting

   Management

   Consider and act upon any other business properly coming before the Annual Meeting or at any adjournment or postponement thereof; proxies may vote at their discretion on such matters.

   More detail

   This catch-all proposal reserves the right for shareholders to consider any additional matters that are properly presented at the meeting but are not specifically listed on the proxy card. There is no detailed disclosure because the substance of any such items is unknown in advance; historically these are either procedural items or, less commonly, unexpected substantive matters raised at the meeting. Management’s proxies are authorized to exercise discretion on these matters if no specific instructions are given by a shareholder, which is why the proxy card permits discretionary voting on "other business." From a governance perspective, the absence of pre-disclosed items limits investors’ ability to evaluate potential impacts in advance, but it is standard practice to include such a provision to ensure the meeting can transact routine procedural items and respond to any emergent matters. If a significant matter were to arise, the Board would typically evaluate it in light of fiduciary duties and existing governance policies; investors concerned about unexpected actions can attend the meeting or provide specific instructions to their brokers. Analysts should note that this item is procedural and does not in itself propose a specific corporate action, but it does enable the meeting to consider unforeseen items that could, in rare cases, be material.

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When is the Verastem Inc 2026 annual meeting?

Verastem Inc (VSTM) holds its 2026 annual shareholder meeting on Thursday, May 21, 2026.

What is the record date for the Verastem Inc 2026 meeting?

The record date for the Verastem Inc 2026 meeting is Tuesday, March 24, 2026. Shareholders of record on or before that date are eligible to vote.

Who are the director nominees for Verastem Inc's 2026 meeting?

The board is presenting 3 director nominees at the Verastem Inc 2026 meeting, listed with their independence status and background.

What proposals will shareholders vote on at the Verastem Inc 2026 meeting?

Shareholders will vote on 6 proposals at the Verastem Inc 2026 meeting, each tagged with who proposed it and the board's recommendation.