Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Dr. Melissa Starovasnik to the Board of Directors
On August 5, 2021, the Board of Directors (the “Board”)
of Twist Bioscience Corporation (the “Company”) elected Dr. Melissa Starovasnik to the Board, effective immediately.
Dr. Starovasnik will serve as a Class I director until her term expires at the Company’s 2022 Annual Meeting and, if elected at
the Annual Meeting, until her successor has been duly elected and qualified. The Board has not yet appointed Dr. Starovasnik to any Board
committee.
In connection with her service as a director, Dr. Starovasnik will
receive the Company’s standard non-employee director cash and equity compensation. Dr. Starovasnik will receive a pro rata portion
of the $40,000 annual cash retainer for her service and equity awards having an aggregate grant date fair value of $340,000, which will
be granted 1/2 in the form of options to purchase shares of common stock and 1/2 in the form of restricted stock units (the “Initial
Equity Awards”). One-third of the shares subject to each such Initial Equity Award will vest on each anniversary of the date
of grant, subject to her continued service through each vesting date. In addition, pursuant to the current director compensation policy
approved by the Board, Dr. Starovasnik will also be eligible to receive an annual grant of restricted stock units under the Company’s
2018 Equity Incentive Plan with a grant date value equal to $185,000 at the next annual meeting of stockholders.
There are no arrangements or understandings between Dr. Starovasnik
and any other persons pursuant to which she was selected as a director. Dr. Starovasnik has no family relationships with any of the Company’s
directors or executive officers and she has not been involved in any transactions that require disclosure pursuant to Item 404(a) of Regulation
S-K.
On August 6, 2021, the Company issued a press release announcing the
appointment of Dr. Starovasnik to the Board, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Appointment of Kevin Yankton as Principal Accounting Officer
On August 5, 2021, Board appointed Kevin Yankton, the Company’s
Chief Accounting Officer, as principal accounting officer, effective August 5, 2021. James Thorburn, the Company’s Chief Financial
Officer, previously served as principal accounting officer and will continue to serve as Chief Financial Officer and principal financial
officer.
Mr. Yankton, age 55, served as Chief Accounting Officer of Varex
Imaging Corporation (“Varex”) and led Varex’s establishment as a
stand-alone public company. Prior joining Varex in 2017, Mr. Yankton Kevin was Vice President of Global Business Services and
Assistant Corporate Controller for Verifone, Inc. from July 2013 to October 2016. Before Verifone, he held finance roles with
increasing levels of responsibility at Silicon Image, Inc., Cisco Systems, Inc., and The Gap, Inc. He held various finance roles at
Applied Materials, Inc., within the corporate, regional headquarters and business units. Mr. Yankton started his career with
PricewaterhouseCoopers LLP’s San Jose office. He earned an MBA from Boston University and a BA in Business Economics graduated
from the University of California, Santa Barbara, and is a California Certified Public Accountant, Certified Internal Auditor, and
Chartered Global Management Accountant.
There are no family relationships between Mr. Yankton and any of the
Company’s directors or executive officers and he has no direct or indirect material interest in any transaction required to be disclosed
pursuant to Item 404(a) of Regulation S-K.