UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Compensatory Arrangements of Certain Executive Officers
On January 30, 2024, the Compensation Committee (the “Compensation Committee”) of the Board of Directors of Sight Sciences, Inc. (the “Company”) approved annual base salaries and cash incentive bonus opportunities for the fiscal year ending December 31, 2024 (“Fiscal 2024”) for certain of the Company’s executive officers, including Paul Badawi, the Company’s President and Chief Executive Officer, Sam Park, the Company’s Chief Operating Officer, and Alison Bauerlein, the Company’s Chief Financial Officer and Treasurer.
Fiscal 2024 Base Salary
The annual base salary amounts received for fiscal year ended December 31, 2023 (“Fiscal 2023”) and to be received for Fiscal 2024 by Messrs. Badawi and Park and Ms. Bauerlein are set forth opposite their names in the table below:
| Name |
Annual Base Salary (Fiscal 2023) |
Annual Base Salary (Fiscal 2024) |
||||||
| Paul Badawi |
$ | 610,000 | $ | 640,000 | ||||
| Sam Park |
$ | 410,000 | $ | 420,000 | ||||
| Alison Bauerlein |
$ | 410,000 | (1) | $ | 450,000 | |||
| (1) | This amount reflects the annualized base salary as Ms. Bauerlein’s employment commenced in April 2023. |
Fiscal 2024 Cash Incentive Program
The Company maintains an annual cash incentive program for all employees who are not eligible for commissions and who are otherwise eligible to participate in the program, including Messrs. Badawi and Park, and Ms. Bauerlein. The target bonus opportunity is set as a percentage of the participant’s base salary as determined by the Compensation Committee. The Compensation Committee approved the following Fiscal 2024 target bonus opportunities for Messrs. Badawi and Park and Ms. Bauerlein, as set forth opposite their respective names in the table below:
| Name |
Target Bonus Opportunity | |
| Paul Badawi |
90% | |
| Sam Park |
80% | |
| Alison Bauerlein |
80% |
Fiscal 2024 Company Performance Goals
The Fiscal 2024 cash incentive program applicable to executive officers will be tied to achievement by the Company of specified predetermined milestones relating to revenue, adjusted operating expense, key reimbursement milestones, key clinical publications submitted and key research and development milestones.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Sight Sciences, Inc. | ||||||
| Date: February 2, 2024 |
By: |
/s/ Alison Bauerlein | ||||
| Chief Financial Officer | ||||||