04/19/2024 | Press release | Distributed by Public on 04/19/2024 05:01
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PROXY STATEMENT
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| | | | 1 | | |
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GENERAL INFORMATION
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| | | | 3 | | |
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PROPOSAL NO. 1 - ELECTION OF DIRECTOR
|
| | | | 9 | | |
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PROPOSAL NO. 2 - RATIFICATION OF THE APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
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| | | | 15 | | |
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PROPOSAL NO. 3 - APPROVAL OF AN AMENDMENT TO OUR FOURTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION TO LIMIT THE LIABILITY OF CERTAIN OFFICERS OF THE COMPANY AS PERMITTED BY RECENT AMENDMENTS TO THE DELAWARE GENERAL CORPORATION LAW
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| | | | 17 | | |
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CORPORATE GOVERNANCE
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| | | | 20 | | |
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EXECUTIVE AND DIRECTOR COMPENSATION
|
| | | | 27 | | |
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CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
|
| | | | 35 | | |
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PRINCIPAL STOCKHOLDERS
|
| | | | 37 | | |
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REPORT OF THE AUDIT COMMITTEE
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| | | | 40 | | |
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HOUSEHOLDING
|
| | | | 41 | | |
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STOCKHOLDER PROPOSALS
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| | | | 41 | | |
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ANNUAL REPORT ON FORM 10-K
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| | | | 42 | | |
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OTHER MATTERS
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| | | | 42 | | |
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APPENDIX A
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| | | | A-1 | | |
Proposal
|
| |
Vote
Required |
| |
Discretionary Voting
Permitted? |
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Election of Director | | |
Plurality
|
| |
No
|
|
Ratification of Independent Registered Public Accounting Firm | | |
Majority
|
| |
Yes
|
|
Approval of Amendment to our certificate of incorporation to Limit the Liability of Certain Officers of the Company as Permitted under Delaware Law | | |
Majority of
Outstanding Shares |
| |
No
|
|
| | |
As of April 16, 2024
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Total Number of Directors
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| |
6
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| |||||||||||||||||||||
| | |
Female
|
| |
Male
|
| |
Non-Binary
|
| |
Did Not
Disclose Gender |
| ||||||||||||
Part I: Gender Identity | | | | | | | | | | | | | | | | | | | | | | | | | |
Directors
|
| | | | 2 | | | | | | 4 | | | | | | - | | | | | | - | | |
Part II: Demographic Background | | | | | | | | | | | | | | | | | | | | | | | | | |
African American or Black
|
| | | | - | | | | | | - | | | | | | - | | | | | | - | | |
Alaskan Native or Native American
|
| | | | - | | | | | | - | | | | | | - | | | | | | - | | |
Asian
|
| | | | - | | | | | | 3 | | | | | | - | | | | | | - | | |
Hispanic or Latinx
|
| | | | - | | | | | | - | | | | | | - | | | | | | - | | |
Native Hawaiian or Pacific Islander
|
| | | | - | | | | | | - | | | | | | - | | | | | | - | | |
White
|
| | | | 2 | | | | | | 1 | | | | | | - | | | | | | - | | |
| | |
As of April 16, 2024
|
| |||||||||||||||||||||
Total Number of Directors
|
| |
6
|
| |||||||||||||||||||||
| | |
Female
|
| |
Male
|
| |
Non-Binary
|
| |
Did Not
Disclose Gender |
| ||||||||||||
Two or More Races or Ethnicities
|
| | | | - | | | | | | - | | | | | | - | | | | | | - | | |
LGBTQ+
|
| | | | - | | | | | | - | | | | | | - | | | | | | - | | |
Did Not Disclose Demographic Background
|
| | | | - | | | | | | - | | | | | | - | | | | | | - | | |
Name
|
| |
Positions and Offices Held with Entrada
|
| |
Director
Since |
| |
Age
|
|
Gina Chapman | | | Director | | |
2023
|
| |
57
|
|
Name
|
| |
Position and Offices Held with Entrada
|
| |
Director
Since |
| |
Class and Year
in Which Term Will Expire |
| |
Age
|
|
Dipal Doshi | | |
Chief Executive Officer, Director
|
| |
2017
|
| |
Class I - 2025
|
| |
48
|
|
Kush M. Parmar, M.D., Ph.D. | | | Board Chairman, Director | | |
2016
|
| |
Class I - 2025
|
| |
43
|
|
Mary Thistle | | | Director | | |
2021
|
| |
Class I - 2025
|
| |
64
|
|
Peter S. Kim, Ph.D. | | | Director | | |
2020
|
| |
Class II - 2026
|
| |
65
|
|
Bernhardt Zeiher, M.D. | | | Director | | |
2023
|
| |
Class II - 2026
|
| |
60
|
|
Name
|
| |
Position and Offices Held with Entrada
|
| |
Officer
Since |
| |
Age
|
|
Nathan J. Dowden | | |
President and Chief Operating Officer
|
| |
2019
|
| |
54
|
|
Natarajan Sethuraman, Ph.D. | | | Chief Scientific Officer | | |
2017
|
| |
62
|
|
Kory Wentworth | | | Chief Financial Officer | | |
2020
|
| |
45
|
|
Fee Category
|
| |
Fiscal Year
2023 ($) |
| |
Fiscal Year
2022 ($) |
| ||||||
Audit Fees(1)
|
| | | | 704,608 | | | | | | 580,281 | | |
Audit-Related Fees(2)
|
| | | | - | | | | | | - | | |
Tax Fees(3)
|
| | | | 95,562 | | | | | | 175,575 | | |
All Other Fees(4)
|
| | | | - | | | | | | - | | |
Total Fees
|
| | | | 800,170 | | | | | | 755,856 | | |
NAME AND PRINCIPAL POSITION |
| |
YEAR
|
| |
SALARY
($) |
| |
STOCK
AWARDS ($)(1) |
| |
OPTION
AWARDS ($)(1) |
| |
NON-EQUITY
INCENTIVE PLAN COMPENSATION ($)(2) |
| |
ALL OTHER
COMPENSATION ($) |
| |
TOTAL
($) |
| |||||||||||||||||||||
Dipal Doshi
Chief Executive Officer |
| | | | 2023 | | | | | | 585,000 | | | | | | 1,373,319 | | | | | | 1,393,934 | | | | | | 370,013 | | | | | | 13,200(3) | | | | | | 3,735,466 | | |
| | | 2022 | | | | | | 565,000 | | | | | | 546,618 | | | | | | 2,042,370 | | | | | | 324,875 | | | | | | 12,200(3) | | | | | | 3,491,063 | | | ||
Natarajan Sethuraman Ph. D.
Chief Scientific Officer |
| | | | 2023 | | | | | | 456,501 | | | | | | 392,772 | | | | | | 398,384 | | | | | | 224,598 | | | | | | 13,200(3) | | | | | | 1,485,455 | | |
| | | 2022 | | | | | | 440,000 | | | | | | 203,529 | | | | | | 760,786 | | | | | | 202,400 | | | | | | 12,200(3) | | | | | | 1,618,915 | | | ||
Nathan J. Dowden
President and Chief Operating Officer |
| | | | 2023 | | | | | | 456,501 | | | | | | 392,772 | | | | | | 398,384 | | | | | | 224,598 | | | | | | 13,200(3) | | | | | | 1,485,455 | | |
| | | 2022 | | | | | | 440,000 | | | | | | 186,916 | | | | | | 698,873 | | | | | | 202,400 | | | | | | 12,200(3) | | | | | | 1,540,389 | | |
| | |
Options Awards
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||||||||
Name
|
| |
Vesting
Commencement Date(1) |
| |
Number Of
Securities Underlying Unexercised Option (#) Exercisable(2) |
| |
Number Of
Securities Underlying Unexercised Options (#) Unexercisable |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number Of
Shares Or Units Of Stock That Have Not Vested (#)(3) |
| |
Market
Value Of Shares Or Units Of Stock That Have Not Vested ($) |
| |||||||||||||||||||||
Dipal Doshi
|
| | | | 12/31/2018 | | | | | | 399,989 | | | | | | - | | | | | | 1.74 | | | | | | 5/14/2029 | | | | | | - | | | | | | - | | |
| | | 8/12/2020 | | | | | | 140,362 | | | | | | - | | | | | | 2.10 | | | | | | 12/16/2030 | | | | | | - | | | | | | - | | | ||
| | | 3/30/2021 | | | | | | 312,750 | | | | | | - | | | | | | 8.47 | | | | | | 5/19/2031 | | | | | | - | | | | | | - | | | ||
| | | 8/2/2021 | | | | | | 82,920 | | | | | | - | | | | | | 12.52 | | | | | | 8/2/2031 | | | | | | - | | | | | | - | | | ||
| | | 10/28/2021(4) | | | | | | 100,111 | | | | | | 84,710 | | | | | | 20.00 | | | | | | 10/27/2031 | | | | | | - | | | | | | - | | | ||
| | | 3/1/2022 | | | | | | 79,406 | | | | | | 102,094 | | | | | | 11.57 | | | | | | 3/1/2032 | | | | | | - | | | | | | - | | | ||
| | | 3/1/2022 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | 22,687 | | | | | | 342,347 | | | ||
| | | 7/1/2022 | | | | | | 32,141 | | | | | | 58,609 | | | | | | 12.00 | | | | | | 7/1/2032 | | | | | | - | | | | | | - | | | ||
| | | 9/1/2022 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | 11,344 | | | | | | 171,181 | | | ||
| | | 3/1/2023 | | | | | | - | | | | | | 75,250 | | | | | | 12.25 | | | | | | 3/1/2033 | | | | | | - | | | | | | - | | | ||
| | | 3/1/2023 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | 49,650 | | | | | | 749,219 | | | ||
| | | 9/1/2023 | | | | | | - | | | | | | 75,250 | | | | | | 15.41 | | | | | | 9/1/2033 | | | | | | - | | | | | | - | | | ||
| | | 9/1/2023 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | 49,650 | | | | | | 749,219 | | | ||
Natarajan Sethuraman, Ph.D.
|
| | | | 3/4/2019 | | | | | | 68,312 | | | | | | - | | | | | | 1.74 | | | | | | 3/5/2029 | | | | | | - | | | | | | - | | |
| | | 8/12/2020 | | | | | | 10,284 | | | | | | - | | | | | | 2.10 | | | | | | 12/16/2030 | | | | | | - | | | | | | - | | | ||
| | | 3/30/2021 | | | | | | 96,377 | | | | | | - | | | | | | 8.47 | | | | | | 5/19/2031 | | | | | | - | | | | | | - | | | ||
| | | 8/2/2021 | | | | | | 4,146 | | | | | | - | | | | | | 12.52 | | | | | | 8/2/2031 | | | | | | - | | | | | | - | | | ||
| | | 10/28/2021(4) | | | | | | 131,971 | | | | | | 111,668 | | | | | | 20.00 | | | | | | 10/27/2031 | | | | | | - | | | | | | - | | | ||
| | | 3/1/2022 | | | | | | 30,417 | | | | | | 39,108 | | | | | | 11.57 | | | | | | 3/1/2023 | | | | | | - | | | | | | - | | | ||
| | | 3/1/2022 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | 8,691 | | | | | | 131,147 | | | ||
| | | 7/1/2022 | | | | | | 12,312 | | | | | | 22,451 | | | | | | 12.00 | | | | | | 7/1/2032 | | | | | | - | | | | | | - | | | ||
| | | 9/1/2022 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | 4,345 | | | | | | 65,566 | | | ||
| | | 3/1/2023 | | | | | | - | | | | | | 21,500 | | | | | | 12.25 | | | | | | 3/1/2033 | | | | | | - | | | | | | - | | | ||
| | | 3/1/2023 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | 14,200 | | | | | | 214,278 | | | ||
| | | 9/1/2023 | | | | | | - | | | | | | 21,500 | | | | | | 15.41 | | | | | | 9/1/2023 | | | | | | - | | | | | | - | | | ||
| | | 9/1/2023 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | 14,200 | | | | | | 214,278 | | |
| | |
Options Awards
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||||||||
Name
|
| |
Vesting
Commencement Date(1) |
| |
Number Of
Securities Underlying Unexercised Option (#) Exercisable(2) |
| |
Number Of
Securities Underlying Unexercised Options (#) Unexercisable |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number Of
Shares Or Units Of Stock That Have Not Vested (#)(3) |
| |
Market
Value Of Shares Or Units Of Stock That Have Not Vested ($) |
| |||||||||||||||||||||
Nathan J. Dowden
|
| | | | 12/10/2019 | | | | | | 84,831 | | | | | | - | | | | | | 1.74 | | | | | | 12/10/2029 | | | | | | - | | | | | | - | | |
| | | 8/12/2020 | | | | | | 46,117 | | | | | | - | | | | | | 2.10 | | | | | | 12/16/2030 | | | | | | - | | | | | | - | | | ||
| | | 3/30/2021 | | | | | | 82,973 | | | | | | - | | | | | | 8.47 | | | | | | 5/19/2031 | | | | | | - | | | | | | - | | | ||
| | | 8/2/2021 | | | | | | 4,146 | | | | | | - | | | | | | 12.52 | | | | | | 8/2/2031 | | | | | | - | | | | | | - | | | ||
| | | 10/28/2021(4) | | | | | | 51,538 | | | | | | 43,610 | | | | | | 20.00 | | | | | | 10/27/2031 | | | | | | - | | | | | | - | | | ||
| | | 3/1/2022 | | | | | | 29,564 | | | | | | 38,011 | | | | | | 11.57 | | | | | | 3/1/2032 | | | | | | - | | | | | | - | | | ||
| | | 3/1/2022 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | 8,447 | | | | | | 127,465 | | | ||
| | | 7/1/2022 | | | | | | 11,967 | | | | | | 21,821 | | | | | | 12.00 | | | | | | 7/1/2032 | | | | | | - | | | | | | - | | | ||
| | | 9/1/2022 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | 4,224 | | | | | | 63,740 | | | ||
| | | 3/1/2023 | | | | | | - | | | | | | 21,500 | | | | | | 12.25 | | | | | | 3/1/2033 | | | | | | - | | | | | | - | | | ||
| | | 3/1/2023 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | 14,200 | | | | | | 214,278 | | | ||
| | | 9/1/2023 | | | | | | - | | | | | | 21,500 | | | | | | 15.41 | | | | | | 9/1/2033 | | | | | | - | | | | | | - | | | ||
| | | 9/1/2023 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | 14,200 | | | | | | 214,278 | | |
| | |
Fees Earned
or Paid in Cash ($) |
| |
Option
Awards ($)(1) |
| |
All Other
Compensation ($) |
| |
Total ($)
|
| ||||||||||||
Peter S. Kim(2)
|
| | | | 39,375 | | | | | | 152,747 | | | | | | - | | | | | | 192,122 | | |
John F. Crowley(3)
|
| | | | 54,876 | | | | | | 152,747 | | | | | | - | | | | | | 207,623 | | |
Mary Thistle(4)
|
| | | | 58,431 | | | | | | 152,747 | | | | | | - | | | | | | 211,178 | | |
Kush M. Parmar(5)
|
| | | | 84,833 | | | | | | 152,747 | | | | | | - | | | | | | 237,580 | | |
Todd Foley(6)
|
| | | | 19,953 | | | | | | - | | | | | | - | | | | | | 19,953 | | |
Carole Nuechterlein(7)
|
| | | | 22,425 | | | | | | - | | | | | | - | | | | | | 22,425 | | |
Bernhardt Zeiher(8)
|
| | | | 33,122 | | | | | | 300,896 | | | | | | - | | | | | | 334,018 | | |
Gina Chapman(9)
|
| | | | 15,202 | | | | | | 326,677 | | | | | | - | | | | | | 341,879 | | |
Position
|
| |
Annual
Retainer |
| |||
Board of Directors: | | | | | | | |
Members
|
| | | $ | 40,000(1) | | |
Additional Retainer for chair
|
| | | $ | 30,000 | | |
Audit Committee: | | | | | | | |
Members (other than chair)
|
| | | $ | 7,500 | | |
Retainer for chair
|
| | | $ | 15,000 | | |
Compensation Committee: | | | | | | | |
Members (other than chair)
|
| | | $ | 5,000 | | |
Retainer for chair
|
| | | $ | 10,000 | | |
Nominating and Corporate Governance Committee: | | | | | | | |
Members (other than chair)
|
| | | $ | 4,000 | | |
Retainer for chair
|
| | | $ | 8,000 | | |
Name of Beneficial Owner
|
| |
Shares
Beneficially Owned |
| |
Percentage of
Shares Beneficially Owned |
| ||||||
Greater-than-5% Stockholders: | | | | | | | | | | | | | |
Baker Bros. Advisors LP(1)
|
| | | | 4,865,819 | | | | | | 14.45% | | |
Entities affiliated with MPM Capital(2)
|
| | | | 4,425,784 | | | | | | 13.14% | | |
Entities affiliated with 5AM Ventures(3)
|
| | | | 4,408,379 | | | | | | 13.09% | | |
T. Rowe Price Associates, Inc.(4)
|
| | | | 3,009,673 | | | | | | 8.94% | | |
Roche Finance Ltd(5)
|
| | | | 2,744,120 | | | | | | 8.15% | | |
MRL Ventures Fund, LLC(6)
|
| | | | 1,739,768 | | | | | | 5.17% | | |
Named Executive Officers and Directors: | | | | | | | | | | | | | |
Dipal Doshi, Chief Executive Officer and Director(7)
|
| | | | 1,346,798 | | | | | | 3.86% | | |
Natarajan Sethuraman, Ph.D., Chief Scientific Officer(8)
|
| | | | 528,896 | | | | | | 1.55% | | |
Nathan J. Dowden, President, Chief Operating Officer(9)
|
| | | | 349,836 | | | | | | 1.03% | | |
Kory Wentworth, Chief Financial Officer(10)
|
| | | | 253,157 | | | | | | * | | |
Kush M. Parmar, M.D., Ph.D., Chairman(3)(11)
|
| | | | 48,199 | | | | | | * | | |
Peter S. Kim, Ph.D., Director(12)
|
| | | | 102,772 | | | | | | * | | |
Mary Thistle, Director(13)
|
| | | | 86,440 | | | | | | * | | |
Bernhardt Zeiher, M.D., Director(14)
|
| | | | 12,444 | | | | | | * | | |
Gina Chapman, Director(15)
|
| | | | 8,000 | | | | | | * | | |
All executive officers and directors as a group (9 persons)(16)
|
| | | | 2,736,542 | | | | | | 7.59% | | |
| ENTRADA THERAPEUTICS, INC. | | ||||||
| By: | | | | | |||
| | | | Name: | | | Nathan J. Dowden | |
| | | | Title: | | | President | |