• SEC Filings

The Compensation Committee of MabVax Therapeutics Holdings, Inc. (the “Company”) met on February 21, 2018 and made the following decisions.

Review of Management Compensation – the Compensation Committee determined that no bonus payments would be made for 2017 performance. Further, the Compensation Committee determined that in order to continue to conserve cash resources, management’s base salaries would remain unchanged from current levels.

The Compensation Committee granted stock options with an exercise price based on the closing price of the shares of common stock on February21, 2018, or $2.04, to the following officers of the Company:

The stock options will vest at 25% of the total number granted at the six-month anniversary of the commencement date, with the balance in equal monthly installments of 4.167% of the number of shares for 18 months, such that 50% of the options will be vested after two years from the grant date.

Review of Board of Directors Compensation – The Compensation Committee granted 35,000 stock options to each non-executive member of the Board of Directors, at an exercise price of $2.04 per share, with vesting on a monthly basis until the options are fully vested at one year from the grant date, in lieu of cash compensation for 2018. The Compensation Committee increased the automatic annual grant on the next annual meeting date from 16,667 shares to 20,000 shares with the same monthly vesting.