Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 30, 2025, the Board of Directors (the Board) of BioMarin Pharmaceutical Inc. (the Company) increased the size of the Board from ten to eleven members and appointed Ian T. Clark to the Board, to be effective August 1, 2025. Mr. Clark has also been appointed to the Audit Committee and the Science and Technology Committee of the Board.
As an independent non-employee director, Mr. Clark will be entitled to receive the standard director fees paid to the Company’s non-employee directors and retainer fees paid to members of the Board committees on which he will sit, as described under the heading “Director Compensation” in the Company’s definitive proxy statement on Schedule 14A (the Proxy Statement), filed with the Securities and Exchange Commission (the SEC) on April 8, 2025.
In connection with his appointment to the Board, on August 1, 2025, Mr. Clark was granted a number of restricted stock units (the RSU Grant) valued at $400,000 pursuant to the Company’s 2017 Equity Incentive Plan, as amended, which is based on a pro rata share of the 2025 annual award for non-employee directors as described in the Proxy Statement and consistent with Company policy. The shares of common stock subject to the RSU Grant will vest on the date immediately prior to the date of the Company’s next regular annual meeting of stockholders, the same vesting date for the 2025 annual award for all other non-employee directors.
The Company also intends to enter into an indemnification agreement with Mr. Clark in the same form as the Company’s standard form indemnification agreement with its other directors, which is attached as Exhibit 10.1 to the Company’s Current Report on Form 8-K, filed with the SEC on December 19, 2016.
Mr. Clark was not selected by the Board to serve as a director pursuant to any arrangement or understanding with any person. Mr. Clark has not engaged in any transaction that would be reportable as a related party transaction under Item 404(a) of Regulation S-K.