PROKIDNEY CORP. — Form 10-Q
Filed August 10, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 28/100
What the filing says
ProKidney hired Kenneth T. Locke as Chief Technical Officer, effective June 1, 2026, with annual base salary of $500,000, target annual cash bonus of 45% of base salary ($225,000), one-time stock option award of 750,000 Class A shares with time-based vesting, and relocation assistance of $1,500/month for two years. Upon termination without Cause or resignation for Good Reason, Locke receives nine months salary continuation plus 100% health insurance premium reimbursement for nine months; within 18 months post-Change of Control, severance increases to 12 months salary plus 100% target bonus plus full equity vesting.
Why this rating
Executive hire with standard C-suite comp ($500K salary, 45% target bonus, 750K options). Severance multiples typical for CTO role. Material in absolute dollars but routine for small public biotech company at market value ~$59M. No strategic shift or unexpected cost signaled.
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