03/28/2024 | Press release | Distributed by Public on 03/28/2024 06:48
TABLE OF CONTENTS
TABLE OF CONTENTS
TABLE OF CONTENTS
TABLE OF CONTENTS
Meeting Date:
|
May 23, 2024
|
Meeting Time:
|
8:00 a.m.,
Pacific Time
|
Meeting Location:
|
The annual meeting will be conducted virtually via live audio webcast. You will be able to attend the annual meeting virtually by visiting www. virtualshareholder meeting.com/ATHA2024, where you will be able to listen to the meeting live, submit questions and vote online during the meeting.
|
Record Date :
|
March 26, 2024
|
1
|
To elect three Class I directors of the Company, each to serve for terms of three years and until their respective successors are elected and qualified, or until their earlier death, resignation or removal.
|
2
|
To ratify the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for its fiscal year ending December 31, 2024.
|
3
|
To approve an amendment to the Company's amended and restated certificate of incorporation to limit the liability of officers as permitted by Delaware law.
|
4
|
To transact other business that may properly come before the Annual Meeting.
|
TABLE OF CONTENTS
Your Vote is Important
|
Whether or not you plan to attend the virtual annual meeting, we urge you to submit your proxy or voting instructions via the Internet, telephone or mail as soon as possible.
|
Important Notice Regarding the availability of proxy materials for the annual meeting to be held on May 23, 2024.
|
The proxy statement, the accompanying proxy card, and the Annual Report on Form 10-K for the fiscal year ended December 31, 2023 are available free of charge at www.proxyvote.com. Information on this website, other than this proxy statement, is not a part of this proxy statement. Please sign, date and promptly return the proxy card, or submit your proxy and voting instructions over the Internet or by telephone by following the instructions on the proxy card, so that you may be represented at the Annual Meeting.
|
The accompanying proxy statement provides a detailed description of the business to be conducted at the Annual Meeting. We urge you to read the accompanying proxy statement, including the appendices, carefully and in their entirety.
|
TABLE OF CONTENTS
PROXY STATEMENT SUMMARY
|
| |
1
|
QUESTIONS AND ANSWERS ABOUT THE PROXY MATERIALS AND OUR ANNUAL MEETING
|
| |
2
|
BOARD OF DIRECTORS AND CORPORATE GOVERNANCE
|
| |
9
|
Composition of the Board of Directors
|
| |
9
|
Nominees for Director
|
| |
10
|
Continuing Directors
|
| |
12
|
Director Independence
|
| |
15
|
Board Leadership Structure
|
| |
15
|
Role of Board in Risk Oversight Process
|
| |
15
|
Attendance at Board and Stockholder Meetings
|
| |
16
|
Executive Sessions of Non-Employee Directors
|
| |
16
|
Board Diversity
|
| |
16
|
Board Committees
|
| |
18
|
Considerations in Evaluating Director Nominees
|
| |
20
|
Stockholder Recommendations and Nominations to our Board of Directors
|
| |
20
|
Communications with the Board of Directors
|
| |
20
|
Policy Prohibiting Hedging or Pledging of Securities
|
| |
21
|
Code of Business Conduct and Ethics
|
| |
21
|
Environmental, Social and Governance (ESG) and Related Matters
|
| |
21
|
Director Compensation
|
| |
22
|
PROPOSAL NO. 1: ELECTION OF CLASS I DIRECTORS
|
| |
25
|
Nominees
|
| |
25
|
Vote Required
|
| |
25
|
Board Recommendation
|
| |
25
|
PROPOSAL NO. 2: RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
|
| |
26
|
Fees Paid to the Independent Registered Public Accounting Firm
|
| |
26
|
Auditor Independence
|
| |
27
|
Audit Committee Policy on Pre-Approval of Audit and Permissible Non-Audit Services
|
| |
27
|
TABLE OF CONTENTS
Vote Required
|
| |
27
|
Board Recommendation
|
| |
27
|
REPORT OF THE AUDIT COMMITTEE
|
| |
28
|
PROPOSAL NO. 3: APPROVAL OF AN AMENDMENT TO OUR AMENDED AND RESTATED CERTIFICATE OF INCORPORATION
|
| |
29
|
Proposed Amendment to the Amended and Restated Certificate of Incorporation
|
| |
29
|
Purpose of the Exculpation Amendment
|
| |
29
|
Effectiveness of the Exculpation Amendment
|
| |
29
|
Vote Required
|
| |
30
|
Board Recommendation
|
| |
30
|
EXECUTIVE OFFICERS
|
| |
31
|
Executive Officers
|
| |
31
|
EXECUTIVE COMPENSATION
|
| |
34
|
Processes and Procedures for Compensation Decisions
|
| |
34
|
Executive Compensation
|
| |
34
|
2022-2023 Summary Compensation Table
|
| |
35
|
Outstanding Equity Awards at December 31, 2023
|
| |
36
|
Executive Employment Arrangements
|
| |
37
|
Change in Control and Severance Agreements
|
| |
38
|
Equity Incentive Plans
|
| |
41
|
Clawback Policy
|
| |
41
|
Executive Incentive Compensation Plan
|
| |
41
|
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
|
| |
43
|
SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS
|
| |
45
|
RELATED PERSON TRANSACTIONS
|
| |
46
|
Related-Person Transactions Policy
|
| |
46
|
Investors' Rights Agreement
|
| |
46
|
Other Transactions
|
| |
47
|
OTHER MATTERS
|
| |
48
|
Availability of Bylaws
|
| |
48
|
2023 Annual Report
|
| |
48
|
ANNEX A
|
| |
49
|
TABLE OF CONTENTS
Meeting Date:
|
May 23, 2024
|
Meeting Time:
|
8:00 a.m.,
Pacific Time
|
Meeting Location:
|
The annual meeting will be conducted virtually via live audio webcast. You will be able to attend the annual meeting virtually by visiting www. virtualshareholder meeting.com/ ATHA2024, where you will be able to listen to the meeting live, submit questions and vote online during the meeting.
|
Proposal
|
| | | |
Board
Recommendation
|
| |
Page
Reference
|
|
1
|
| |
To elect three Class I directors of the Company, each to serve for terms of three years and until their respective successors are elected and qualified, or until their earlier death, resignation or removal.
|
| |
"FOR" the election of each Class I director nominee named
|
| |
25
|
2
|
| |
To ratify the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for its fiscal year ending December 31, 2024.
|
| |
"FOR" the ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for our fiscal year ending December 31, 2024
|
| |
26
|
3
|
| |
To approve an amendment to the Company's amended and restated certificate of incorporation to limit the liability of officers as permitted by Delaware law.
|
| |
"FOR" an amendment to the Company's amended and restated certificate of incorporation to limit the liability of officers as permitted by Delaware law
|
| |
29
|
4
|
| |
To vote on any other matters that may properly come before the Annual Meeting.
|
| |
-
|
| |
-
|
Athira Pharma, Inc.
|
| |
1
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
•
|
Proposal No. 1: the election of three nominees as Class I directors of the Company, each to hold office until their respective successors are elected and qualified, or until their earlier death, resignation or removal.
|
•
|
Proposal No. 2: the ratification of the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for its fiscal year ending December 31, 2024.
|
•
|
Proposal No. 3: the approval of an amendment to the Company's amended and restated certificate of incorporation to limit the liability of officers as permitted by Delaware law.
|
•
|
Proposal No. 4: any other business that may properly come before the annual meeting or any adjournments or postponements thereof.
|
Athira Pharma, Inc.
|
| |
2
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
•
|
"FOR" the election of each Class I director nominee named in this proxy statement (Proposal No. 1) (which nominees are Barbara Kosacz, Mark Litton, and Michael Panzara).
|
•
|
"FOR" the ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for our fiscal year ending December 31, 2024 (Proposal No. 2).
|
•
|
"FOR" the approval of an amendment to our amended and restated certificate of incorporation to limit the liability of officers as permitted by Delaware law (Proposal No. 3).
|
•
|
Proposal No. 1: Each director is elected by a plurality of the voting power of the shares present or represented by proxy at the Annual Meeting and entitled to vote on the election of directors. A plurality means that the nominees with the largest number of FOR votes are elected as directors. Because the outcome of this proposal will be determined by a plurality vote, any shares not voted FOR a particular nominee, whether as a result of a WITHHOLD vote or a broker non-vote, will have no effect on the outcome of the election.
|
•
|
Proposal No. 2: The ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for our fiscal year ending December 31, 2024, requires the affirmative vote of a majority of the voting power of the shares cast, affirmatively or negatively. You may vote FOR or AGAINST this proposal, or you may indicate that you wish to ABSTAIN from voting
|
Athira Pharma, Inc.
|
| |
3
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
•
|
Proposal No. 3: The approval of an amendment to our amended and restated certificate of incorporation to limit the liability of officers as permitted by Delaware law requires the affirmative "FOR" vote of the holders of a majority of the voting power of all of the outstanding shares of our common stock entitled to vote thereon. You may vote FOR or AGAINST this proposal, or you may indicate that you wish to ABSTAIN from voting on this proposal. Abstentions and broker non-votes will have the same effect as votes "AGAINST" this proposal.
|
Online
|
| |
By Phone
|
| |
Virtually
|
| |
By Mail
|
By internet following the instructions using the control number provided on your proxy card.
|
| |
By telephone using the numbers provided on your proxy card.
|
| |
By attending the Annual Meeting virtually by visiting www.virtualshareholdermeeting. com/ATHA2024, where you can vote during the meeting.
|
| |
By signing, dating and returning your proxy card following
the instructions on your proxy card. Your proxy card must be
received prior to the Annual Meeting.
|
•
|
"FOR" the election of each Class I director nominee named in this proxy statement;
|
•
|
"FOR" the ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for our fiscal year ending December 31, 2024; and
|
•
|
"FOR" the approval of an amendment to our amended and restated certificate of incorporation to limit the liability of officers as permitted by Delaware law.
|
Athira Pharma, Inc.
|
| |
4
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
•
|
entering a new vote by internet or telephone (subject to the applicable deadlines for each method as set forth above);
|
•
|
completing and returning a later-dated proxy card, which must be received prior to the Annual Meeting;
|
•
|
delivering a written notice of revocation to our corporate secretary at Athira Pharma, Inc., 18706 North Creek Parkway, Suite 104, Bothell, Washington 98011, Attention: Corporate Secretary, which must be received prior to the Annual Meeting; or
|
•
|
attending and voting at the Annual Meeting (although attendance at the Annual Meeting will not, by itself, revoke a proxy).
|
Athira Pharma, Inc.
|
| |
5
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Athira Pharma, Inc.
|
| |
6
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
•
|
no earlier than 8:00 a.m., Eastern time, on [•]; and
|
•
|
no later than 5:00 p.m., Eastern time, on [•].
|
•
|
no earlier than 8:00 a.m., Eastern time, on the 120th day prior to the day of our 2025 annual meeting, and
|
•
|
no later than 5:00 p.m., Eastern time, on the later of the 90th day prior to the day of the 2025 annual meeting and, if the first public announcement of the date of such annual meeting is less than 100 days prior to the date of such annual meeting, the 10th day following the day on which public announcement of the date of the annual meeting is first made by us.
|
Athira Pharma, Inc.
|
| |
7
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
|
Board Recommendation
|
The Board of Directors unanimously recommends voting "FOR" the election of each of the Board of Directors' nominees on Proposal No. 1 (which nominees are Barbara Kosacz, Mark Litton, and Michael Panzara), "FOR" the ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for our fiscal year ending December 31, 2024 on Proposal No. 2, and "FOR" an amendment to our amended and restated certificate of incorporation to limit the liability of officers on Proposal No. 3.
|
Athira Pharma, Inc.
|
| |
8
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Name
|
| |
Class
|
| |
Age
|
| |
Position
|
| |
Director
Since
|
| |
Current
Term
Expires
|
| |
Expiration
of Term
for Which
Nominated
|
NOMINEES FOR DIRECTOR
|
| | | | | | | | | | | | ||||||
Barbara Kosacz(1)(2)
|
| |
I
|
| |
66
|
| |
Director
|
| |
2021
|
| |
2024
|
| |
2027
|
Mark Litton, Ph.D.
|
| |
I
|
| |
56
|
| |
President, Chief Executive Officer and Director
|
| |
2021
|
| |
2024
|
| |
2027
|
Michael Panzara, M.D., M.P.H.(2)
|
| |
I
|
| |
56
|
| |
Director
|
| |
2022
|
| |
2024
|
| |
2027
|
CONTINUING DIRECTORS
|
| | | | | | | | | | | | ||||||
Kelly A. Romano(3)
|
| |
III
|
| |
62
|
| |
Chairwoman of the Board of Directors
|
| |
2020
|
| |
2026
|
| |
-
|
Joseph Edelman(2)
|
| |
II
|
| |
68
|
| |
Director
|
| |
2020
|
| |
2025
|
| |
-
|
John M. Fluke, Jr.(4)
|
| |
II
|
| |
81
|
| |
Director
|
| |
2014
|
| |
2025
|
| |
-
|
James A. Johnson(5)(6)
|
| |
III
|
| |
67
|
| |
Director
|
| |
2020
|
| |
2026
|
| |
-
|
Grant Pickering(4)(6)
|
| |
II
|
| |
56
|
| |
Director
|
| |
2022
|
| |
2025
|
| |
-
|
(1)
|
Chairwoman of the compensation committee.
|
(2)
|
Member of the nominating and corporate governance committee.
|
(3)
|
Chairwoman of the nominating and corporate governance committee.
|
Athira Pharma, Inc.
|
| |
9
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
|
Board Recommendation
|
The Board of Directors unanimously recommends voting "FOR" the election of each of the Board of Directors' nominees on Proposal No. 1 (which nominees are Barbara Kosacz, Mark Litton, and Michael Panzara).
|
|
| |
Barbara Kosacz
AGE: 66 DIRECTOR SINCE: MARCH 2021
Barbara Kosacz has served on our board of directors since March 2021. Ms. Kosacz served as chief operating officer and general counsel at Kronos Bio, Inc., a clinical-stage biopharmaceutical company, from July 2020 until February 2024, where she continues to serve as a strategic business development advisor. Prior to joining Kronos Bio, Ms. Kosacz was a partner at Cooley LLP from January 1997 to December 2000, and again from February 2002 until July 2020, where she led the international life sciences practice. Ms. Kosacz has more than 25 years of experience in counseling clients in the life sciences arena, ranging from early stage startups to larger public companies, venture funds, investment banks, and non-profit institutions. She has served as a member of the BIO Emerging Companies' Section Governing Board, the Board of Trustees of the Keck Graduate Institute, the business advisory board of Locust Walk Partners, and as a speaker at multiple life sciences-related conferences, as well as guest lecturer at the University of California, Berkeley, Stanford University, Columbia University, and the University of Pennsylvania about biotechnology law, biotech business models, corporate partnering negotiations and deal structures, and bioethics. Recognized by Best Lawyers in America since 2008 and most recently as Biotechnology Lawyer of the Year in 2018, Ms. Kosacz was listed as a "leading lawyer" for healthcare and life sciences in the 2018 Legal 500, as a "Band 1" attorney in the 2018 edition of Chambers USA: America's Leading Lawyers for Business and recognized as a "highly recommended transactions" lawyer by IAM Patent 1000 for her "nearly three decades advising diverse companies in the industry at a deeply strategic and commercial level and overseeing their most complex and profitable deals." Ms. Kosacz is a member of the board of directors of XOMA Corp., a public biotechnology royalty aggregation company, and Phoenix Biotech Acquisition Corp., a blank check company formed for the purpose of acquiring or merging with one or more businesses. Ms. Kosacz received her B.A. from Stanford University and her J.D. from the University of California, Berkeley School of Law. We believe that Ms. Kosacz's extensive experience as an advisor to life sciences companies qualifies her to serve on our board of directors.
|
Athira Pharma, Inc.
|
| |
10
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
|
| |
Mark Litton
AGE: 56 DIRECTOR SINCE: OCTOBER 2021
Mark Litton, Ph.D., has served as our president and chief executive officer and member of our board of directors since October 2021 and previously served as our chief operating officer since July 2019. Prior to joining us, Dr. Litton served as the president and chief operating officer of Alpine Immune Sciences, Inc., a publicly traded biotechnology company, from August 2018 to April 2019. Dr. Litton served as the chief business officer, treasurer, and secretary from 2004 to 2018 of Alder BioPharmaceuticals, Inc., a publicly traded biopharmaceutical company co-founded by Dr. Litton in 2004, which was acquired by Lundbeck A/S in October 2019. From 1999 to 2004, Dr. Litton served as vice president of business development for Celltech Group, where he was responsible for securing, commercializing, and partnering on numerous novel discoveries and therapeutic programs. In 1999, Dr. Litton joined Celltech Group as an employee of Chiroscience Group plc and was later promoted to vice president of business development after Chiroscience's merger with Celltech Group in 1999. From 1997 to 1999, Dr. Litton served as the manager of business development for Ribozyme Pharmaceuticals Inc. (now Sirna Therapeutics, Inc.), a biopharmaceutical company and wholly owned subsidiary of Alnylam Pharmaceuticals, Inc., where he helped form relationships with Eli Lilly and Company, Roche Bioscience and GlaxoWellcome plc (now GlaxoSmithKline plc) a biopharmaceutical company. From 1991 to 1994, Dr. Litton served as a research associate for DNAX Research Institute, a research facility of Schering-Plough (now Merck & Co., a publicly traded pharmaceutical company). Dr. Litton earned a Ph.D. in immunology from Stockholm University in 1997, an M.B.A. from Santa Clara University in 1994 and a B.A. in biochemistry and molecular biology from the University of California Santa Cruz in 1990. We believe that Dr. Litton's experience in the biopharmaceutical industry and the perspective and experience he brings as our chief executive officer qualifies him to serve on our board of directors.
|
|
| |
Michael Panzara
AGE: 56 DIRECTOR SINCE: MARCH 2022
Michael Panzara, M.D., M.P.H., has served on our board of directors since March 2022. Dr. Panzara has served as chief medical officer at Neurvati Neurosciences, Inc., a Blackstone Life Sciences portfolio company, since October 2022. Previously, Dr. Panzara served as chief medical officer and head of therapeutics discovery and development at Wave Life Sciences Ltd., a publicly traded genetic medicines company, since May 2020, where he previously served as chief medical officer from November 2018 to May 2020 and as franchise lead of neurology from July 2016 to November 2018. Prior to joining Wave Life Sciences, Dr. Panzara served in various roles at Sanofi Genzyme, including most recently as head of multiple sclerosis, neurology and ophthalmology therapeutic area for global development. Dr. Panzara has held numerous other positions in the healthcare and biopharmaceutical industries, including vice president and chief medical officer in neurology at Biogen, and instructor in neurology at Harvard Medical School with clinical appointments at Brigham & Women's Hospital and Massachusetts General Hospital. Dr. Panzara earned an M.P.H from Harvard School of Public Health in 2002, an M.D. from Stanford University School of Medicine in 1994, and a B.A. in biology from the University of Pennsylvania in 1989. We believe that Dr. Panzara's extensive experience in the healthcare and biopharmaceutical industries qualifies him to serve on our board of directors.
|
Athira Pharma, Inc.
|
| |
11
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
|
| |
Kelly A. Romano
AGE: 61 DIRECTOR SINCE: DECEMBER 2020
Kelly A. Romano has served as chairwoman of our board of directors since August 2021 and as a member of our board of directors since December 2020. Ms. Romano brings over 30 years of executive operating experience with technology companies, with a background in commercial buildings and aerospace. Ms. Romano is the chief executive officer of BlueRipple Capital, LLC, a consultancy firm she founded in May 2018. Ms. Romano previously served as an operating partner at AE Industrial Partners, a private equity firm focused on aerospace and industrial investments, from August 2020 to July 2023. Ms. Romano has also served on the Executive Advisory Board at Gryphon Investors, a middle-market private equity firm, since December 2016. Previously, she spent 32 years working at United Technologies Corp. (UTC) and held a number of senior executive global positions, including president of Intelligent Building Technologies in UTC Building & Industrial Systems and president of Building Systems & Services at Carrier Corporation. Ms. Romano is also a member of several boards of directors, including UGI Corporation, Dorman Products, Inc., Potter Global Technologies and Altus Fire & Life Safety. Ms. Romano earned a B.S. in business administration from the State University of New York at Buffalo, an M.B.A. from Syracuse University, and is a graduate of the Northwestern University Kellogg School of Management's Corporate Board Governance Executive Program, as well as senior executive programs at Darden School of Management, University of Virginia. We believe that Ms. Romano's executive operating experience and aptitude for understanding growing companies qualifies her to serve on our board of directors.
|
|
| |
Joseph Edelman
AGE: 68 DIRECTOR SINCE: MAY 2020
Joseph Edelman has served on our board of directors since May 2020. Mr. Edelman is the founder and chief executive officer of Perceptive Advisors, a hedge fund that specializes in investing in biotechnology stocks. He founded Perceptive Advisors in 1999, aiming to support progress in the life sciences industry by identifying opportunities and directing financial resources toward the most promising technologies in modern healthcare. Mr. Edelman earned an M.B.A. from the Leonard N. Stern School of Business at New York University in 1986 and a B.A., magna cum laude, in psychology from the University of California San Diego in 1978. We believe that Mr. Edelman's experience as a board member and investor in many successful biotechnology companies qualifies him to serve on our board of directors.
|
Athira Pharma, Inc.
|
| |
12
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
|
| |
John M. Fluke, Jr.
AGE: 81 DIRECTOR SINCE: DECEMBER 2014
John M. Fluke, Jr. has served on our board of directors since December 2014. Mr. Fluke is chairman of Fluke Capital Management, L.P., which he founded in 1976, and was chairman and chief executive officer of the John Fluke Manufacturing Co. until 1990. Mr. Fluke previously served on the boards of PACCAR Inc., CellCyte Genetics Corporation, Cell Therapeutics, Primus International, and American Seafoods Group. Mr. Fluke is a current trustee of the Greater Seattle Chamber of Commerce (formerly serving as its chairman), and previously served as chairman of the Washington State China Relations Council and a trustee emeritus of the Museum of Flight. He also previously served as chairman of the Washington Technology Center at the University of Washington, which is an organization responsible for managing technology transfers from public universities in Washington state to the private sector for commercialization. Mr. Fluke has also served as chairman of the trustees of Junior Achievement of Washington and president of the Seattle Council of Boy Scouts of America. Mr. Fluke earned an M.S. in electrical engineering from Stanford University in 1966 and a B.S. in electrical engineering from the University of Washington in 1964. We believe that Mr. Fluke's extensive leadership experience and background as an investor in many successful companies qualifies him to serve on our board of directors.
|
|
| |
James A. Johnson
AGE: 67 DIRECTOR SINCE: AUGUST 2020
James A. Johnson has served on our board of directors since August 2020. Mr. Johnson previously served as the chief financial officer of Nohla Therapeutics, a cell therapy company, from January 2018 to August 2019. Prior to Nohla, Mr. Johnson served as the chief financial officer of NanoString Technologies, a publicly held provider of life science tools for translational research and molecular diagnostics, from October 2012 to December 2017. During his tenure as chief financial officer at NanoString, Mr. Johnson oversaw strategic and corporate finance activities from private stage through the company's initial public offering and additional rounds of financing, marking the third initial public offering in his career as a chief financial officer. Prior to joining NanoString, Mr. Johnson served as chief financial officer of Relypsa, Inc., a clinical-stage biopharmaceutical company. Prior to Relypsa, Mr. Johnson served for nearly 10 years as chief financial officer of ZymoGenetics, Inc., until the company was acquired by Bristol-Myers Squibb in October 2010. Previously, he served for seven years as chief financial officer of Targeted Genetics Corporation (now Armata Pharmaceuticals) and as Vice President of Finance at Immunex Corporation during its evolution from product development to commercial operations. Mr. Johnson received a B.A. in business administration from the University of Washington in 1979. We believe that Mr. Johnson's depth of experience in the biopharmaceuticals industry, including as chief financial officer of a number of publicly traded biopharmaceutical companies, qualifies him to serve on our board of directors.
|
Athira Pharma, Inc.
|
| |
13
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
|
| |
Grant Pickering
AGE: 56 DIRECTOR SINCE: JANUARY 2022
Grant Pickering has served on our board of directors since January 2022. Mr. Pickering co-founded and has served as chief executive officer and as a member of the board of directors at Vaxcyte, Inc., a publicly traded biotechnology company, since November 2013. Mr. Pickering also served as strategic advisor at Atreca, Inc., a publicly traded biotechnology company, from May 2013 to April 2015. Prior to joining Vaxcyte, Mr. Pickering was chief executive officer of Mymetics Corporation, a publicly traded biotechnology company. Prior to that, Mr. Pickering served as executive-in-residence at Kleiner Perkins, a venture capital firm, while serving as the chief executive officer and as a member of the board of directors at Juvaris BioTherapeutics, Inc., a biopharmaceutical company, since March 2008. Prior to that he served as senior vice president of operations of Dendreon Corporation, a publicly traded biotechnology company. Mr. Pickering earned an M.B.A. from Georgetown University in 1997 with high honors and a B.S. in marketing from Penn State University in 1989. We believe that Mr. Pickering's experience in the healthcare, biopharmaceutical, and biotechnology industries qualifies him to serve on our board of directors.
|
Athira Pharma, Inc.
|
| |
14
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Athira Pharma, Inc.
|
| |
15
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Athira Pharma, Inc.
|
| |
16
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
TOTAL NUMBER OF DIRECTORS
|
| |
8
|
|||||||||
| |
Female
|
| |
Male
|
| |
Non-Binary
|
| |
Did Not
Disclose Gender
|
|
PART I: GENDER IDENTITY
|
| | | | | | | | ||||
Directors
|
| |
2
|
| |
5
|
| |
-
|
| |
1
|
PART II: DEMOGRAPHIC BACKGROUND
|
| | | | | | | | ||||
African American or Black
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
Alaskan Native or Native American
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
Asian
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
Hispanic or Latinx
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
Native Hawaiian or Pacific Islander
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
White
|
| |
2
|
| |
5
|
| |
-
|
| |
-
|
Two or More Races or Ethnicities
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
LGBTQ+
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
Did Not Disclose Demographic Background
|
| |
-
|
| |
-
|
| |
-
|
| |
1
|
Athira Pharma, Inc.
|
| |
17
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
•
|
selects, retains, compensates, evaluates, oversees and, where appropriate, terminates our independent registered public accounting firm;
|
•
|
reviews and approves the scope and plans for the audits and the audit fees and approves all non-audit and tax services to be performed by the independent audit;
|
•
|
evaluates the independence and qualification of the independent registered public accounting firm;
|
•
|
reviews internal controls and integrity of financial statements;
|
•
|
reviews financial information presentation, earnings press releases and guidance;
|
•
|
oversees the design, implementation and performance of our internal audit function, if any;
|
•
|
sets hiring policies with regard to the hiring of employees and former employees of our independent auditor and oversees compliance with such policies;
|
•
|
reviews and monitors compliance with our Investment Policy and approves any amendments or deviations;
|
•
|
reviews, approves and monitors related party transactions;
|
•
|
develops, approves, reviews and monitors compliance with our Code of Business Conduct and Ethics;
|
•
|
adopts and oversees procedures to address complaints regarding accounting, internal accounting controls or auditing matters;
|
•
|
reviews and discusses with our management and the independent auditor our compliance with various laws;
|
•
|
reviews and discusses with management our independent auditor guidelines and policies to identify, monitor, and address enterprise risks;
|
•
|
engages independent legal, accounting and other advisors;
|
•
|
provides appropriate funding for compensation to independent registered accounting firm, advisors and related expenses; and
|
•
|
reviews the adequacy of the audit committee charter and recommend any proposed changes to our board of directors.
|
Athira Pharma, Inc.
|
| |
18
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
•
|
reviews and approves the corporate goals and objectives applicable to the compensation of our chief executive officer;
|
•
|
reviews and approves the compensation and benefits for our executive officers;
|
•
|
reviews, approves, and administers employee compensation plans;
|
•
|
advises on proposals to stockholders on executive compensation matters;
|
•
|
oversees compensation plans and programs;
|
•
|
reviews and discusses our compensation policies and practices and the risks related thereto;
|
•
|
approves the creation or revision of any clawback policy allowing us to recoup compensation paid to employees;
|
•
|
reviews and recommends to the board of directors the form and amount of compensation to be paid for service on the board of directors and committees and for service as a chairperson of a committee;
|
•
|
oversees regulatory compliance with respect to compensation matters;
|
•
|
retains or obtains the advice of compensation consultants; and
|
•
|
reviews the adequacy of the compensation committee charter and recommends any proposed changes to our board of directors.
|
•
|
establishes procedures for the submission of candidates for election to our board of directors;
|
•
|
conducts a periodic review of our succession planning process for the executive management team;
|
•
|
reviews the structure and composition of each committee of our board of directors and makes recommendations for changes to the committees;
|
•
|
develops and recommends to the board of directors corporate governance guidelines and annually reviews the corporate governance guidelines and their application;
|
•
|
oversees governance practices;
|
•
|
oversees our director orientation and continuing education;
|
•
|
oversees the evaluation of our board of directors and its committees;
|
•
|
administers policies and procedures for various constituencies that are involved with us to communicate with the non-management members of our board of directors;
|
•
|
oversees and periodically reviews the Company's ESG activities, programs and public disclosure, including in light of any feedback received from stockholders of the Company; and
|
•
|
reviews the adequacy of the nominating and corporate governance committee charter and recommends any proposed changes to our board of directors.
|
Athira Pharma, Inc.
|
| |
19
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Athira Pharma, Inc.
|
| |
20
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Athira Pharma, Inc.
|
| |
21
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Name
|
| |
Fees Earned or
Paid in Cash
($)
|
| |
Option Awards
($)(1)
|
| |
Total
($)
|
Kelly A. Romano(2)
|
| |
77,810
|
| |
46,871
|
| |
124,681
|
Joseph Edelman(3)
|
| |
45,896
|
| |
46,871
|
| |
92,767
|
John M. Fluke, Jr.(4)
|
| |
49,016
|
| |
46,871
|
| |
95,887
|
James A. Johnson(5)
|
| |
60,000
|
| |
46,871
|
| |
106,871
|
Barbara Kosacz(6)
|
| |
55,516
|
| |
46,871
|
| |
102,387
|
Michael Panzara, M.D., M.P.H.(7)
|
| |
42,484
|
| |
46,871
|
| |
89,354
|
Grant Pickering(8)
|
| |
49,657
|
| |
46,871
|
| |
96,528
|
(1)
|
In accordance with SEC rules, the amount in this column reflects the aggregate grant date fair value of stock options granted during 2023 computed in accordance with Accounting Standards Codification (ASC) Topic 718, rather than the amount paid or realized by the director. For a discussion of valuation assumptions, see the Note 9 to our financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 22, 2024.
|
(2)
|
Ms. Romano was appointed to our board of directors in December 2020. As of December 31, 2023, Ms. Romano held stock options to purchase 62,513 shares of our common stock.
|
(3)
|
Mr. Edelman became a member of our board of directors in May 2020. As of December 31, 2023, Mr. Edelman held stock options to purchase 76,384 shares of our common stock.
|
(4)
|
Mr. Fluke became a member of our board of directors in December 2014. As of December 31, 2023, Mr. Fluke held stock options to purchase 76,384 shares of our common stock.
|
(5)
|
Mr. Johnson became a member of our board of directors in August 2020. As of December 31, 2023, Mr. Johnson held stock options to purchase 76,384 shares of our common stock.
|
Athira Pharma, Inc.
|
| |
22
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
(6)
|
Ms. Kosacz became a member of our board of directors in March 2021. As of December 31, 2023, Ms. Kosacz held stock options to purchase 62,513 shares of our common stock.
|
(7)
|
Dr. Panzara was appointed to our board of directors in March 2022. As of December 31, 2023, Dr. Panzara held stock options to purchase 50,953 shares of our common stock.
|
(8)
|
Mr. Pickering was appointed to our board of directors in January 2022. As of December 31, 2023, Mr. Pickering held stock options to purchase 52,109 shares of our common stock.
|
•
|
$40,000 per year for service as a non-employee director;
|
•
|
$30,000 per year for service as chairperson of the board of directors;
|
•
|
$15,000 per year for service as chairperson of the audit committee;
|
•
|
$7,500 per year for service as a member of the audit committee;
|
•
|
$10,000 per year for service as chairperson of the compensation committee;
|
•
|
$5,000 per year for service as a member of the compensation committee;
|
•
|
$8,000 per year for service as chairperson of the nominating and corporate governance committee; and
|
•
|
$4,000 per year for service as a member of the nominating and corporate governance committee.
|
Athira Pharma, Inc.
|
| |
23
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Athira Pharma, Inc.
|
| |
24
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
|
Board Recommendation
|
The Board of Directors unanimously recommends that stockholders vote "FOR" each of the nominees listed above.
|
Athira Pharma, Inc.
|
| |
25
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
| |
Year Ended December 31,
|
||||
|
2023
|
| |
2022
|
||
Audit fees(1)
|
| |
$632
|
| |
$736
|
Audit-related fees(2)
|
| |
-
|
| |
-
|
Tax fees(3)
|
| |
-
|
| |
-
|
All other fees(4)
|
| |
-
|
| |
-
|
Total fees
|
| |
$632
|
| |
$736
|
(1)
|
Audit fees include fees incurred associated with the annual audit, the reviews of the Company's interim financial information, consents to documents filed with the SEC, and services provided in connection with our at-the-market offering program incurred in 2022.
|
(2)
|
Audit-related fees include fees for assurance and related services that are reasonably related to the performance of the audit or review of our financial statements. There were no such fees incurred in 2023 or 2022.
|
(3)
|
Tax fees consist of fees for professional services, including tax compliance services and tax advisory services. There were no such fees incurred in 2023 or 2022.
|
(4)
|
All other fees include any fees billed that are not audit fees, audit-related fees or tax fees. There were no such fees incurred in 2023 or 2022.
|
Athira Pharma, Inc.
|
| |
26
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
|
Board Recommendation
|
Our Board of Directors recommends a vote "FOR" this proposal.
|
Athira Pharma, Inc.
|
| |
27
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
•
|
reviewed and discussed the audited consolidated financial statements with management and Ernst & Young LLP;
|
•
|
discussed with Ernst & Young LLP the matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board, or PCAOB, and the SEC; and
|
•
|
received the written disclosures and the letter from Ernst & Young LLP required by the applicable requirements of the PCAOB regarding the independent accountant's communications with the audit committee concerning independence, and has discussed with Ernst & Young LLP its independence.
|
Athira Pharma, Inc.
|
| |
28
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Athira Pharma, Inc.
|
| |
29
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
|
Board Recommendation
|
Our Board of Directors recommends a vote "FOR" the approval of an amendment to our amended and restated certificate of incorporation to limit the liability of officers as permitted by Delaware law.
|
Athira Pharma, Inc.
|
| |
30
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Executive Officers
|
| |
Age
|
| |
Position
|
Mark Litton, Ph.D.
|
| |
56
|
| |
President, Chief Executive Officer and Director
|
Rachel Lenington
|
| |
50
|
| |
Chief Operating Officer and Chief Development Officer
|
Andrew Gengos
|
| |
59
|
| |
Chief Financial Officer and Chief Business Officer
|
Kevin Church, Ph.D.
|
| |
39
|
| |
Chief Scientific Officer
|
Mark Worthington
|
| |
57
|
| |
General Counsel and Corporate Secretary
|
|
| |
Rachel Lenington
AGE: 50 EXECUTIVE OFFICER SINCE: JUNE 2021
Rachel Lenington has served as our chief operating officer since October 2021 and as our chief development officer since February 2024. Prior to that, Ms. Lenington served as our chief technology officer, head of product development strategy, from June 2021 to October 2021. From February 2021 to May 2021, Ms. Lenington served as a consultant for Lenington Strategic Advisors, LLC, a company that provided biotechnology consulting services of which she was the founder. Prior to that, from 2015 to 2020, Ms. Lenington served as senior vice president of program and portfolio management at Seagen Inc., a publicly traded biotechnology company, where she led a team responsible for strategic business operations, program, portfolio, and alliance management, and played an instrumental role in scaling the organization as it transformed into a global, multi-product oncology company. From 2010 to 2015, Ms. Lenington was deputy director, strategy, planning and management at the Bill & Melinda Gates Foundation, where she managed strategy, business operations, and grant budgets for select global health programs. From 2000 to 2010, Ms. Lenington held roles of increasing responsibility at Amgen and at Immunex prior to its 2002 acquisition by Amgen, including director, global program manager. From 1995 to 1996 and from 1996 to 2000, Ms. Lenington was a management consultant first for Accenture and then at Deloitte Consulting, respectively, focused on change management and ERP software implementation at Fortune 100 companies. She has served on the board of directors of Global Health Labs, Inc., a non-profit organization focused on developing health technology solutions for underserved populations, since July 2023. Ms. Lenington earned an M.B.A. from Pepperdine University in 2005 and a B.A. in business administration degree from the University of Washington in 1995.
|
Athira Pharma, Inc.
|
| |
31
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
|
| |
Andrew Gengos
AGE: 59 EXECUTIVE OFFICER SINCE: May 2023
Andrew Gengos has served as our chief financial officer and chief business officer since May 2023. He served as the chief business officer of Cyteir Therapeutics, Inc., a clinical-stage biopharmaceutical company, from February 2020 until February 2023, and served in various roles at AOBiome Therapeutics, a biotechnology company, from January 2019 to December 2019, including most recently as chief business officer and chief financial officer from March 2019 to December 2019. Mr. Gengos also served as the chief operating officer and head of corporate development of Synlogic, Inc., a biotechnology company, from October 2017 to January 2019, and previously served as president and chief executive officer at ImmunoCellular Therapeutics and Neuraltus Pharmaceuticals and as vice president of strategy and corporate development at Amgen. From August 2019 to January 2020 he also served as an advisor to Turn Therapeutics, a biotechnology company, where he has served on the board of directors since January 2020. He started his career as a technology associate at Morgan Stanley before moving on to McKinsey & Co., where he advanced from associate to senior engagement manager, focusing in the healthcare and strategy practices. Mr. Gengos earned an M.B.A. from the UCLA Anderson School of Management in 1991 and a B.S. in chemical engineering from the Massachusetts Institute of Technology in 1986.
|
|
| |
Kevin Church, Ph.D.
AGE: 39 EXECUTIVE OFFICER SINCE: JULY 2020
Kevin Church, Ph.D., has served as our chief scientific officer since January 2023. Prior to this, Dr. Church held various roles at the Company, including executive vice president of research from October 2021 to January 2023, vice president of discovery from July 2020 to October 2021, director of discovery from July 2018 to July 2020, senior research scientist from February 2018 to July 2018, and research scientist from July 2016 to February 2018. Dr. Church has research experience in diverse fields of study including neurodegenerative diseases, wound healing, and cancer. Dr. Church earned his Ph.D. in molecular biosciences from Washington State University in 2016, and prior to that earned his B.S. in microbiology from the University of Idaho in 2006. While in graduate school, Dr. Church was recognized for excellence in his graduate teaching assistantships. Dr. Church's graduate work primarily focused on the development of novel therapeutics for the treatment of pancreatic cancer, but also included research relating to the treatment of diabetic ulcers and neurodegenerative diseases such as Parkinson's disease dementia and Alzheimer's disease.
|
Athira Pharma, Inc.
|
| |
32
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
|
| |
Mark Worthington
AGE: 57 EXECUTIVE OFFICER SINCE: JUNE 2021
Mark Worthington has served as our general counsel since June 2021, after working with us as outside corporate counsel for several years. Prior to joining the Company, Mr. Worthington served as a partner with Summit Law Group in Seattle, Washington from September 1997 to May 2021, where he practiced corporate and securities law, chaired the corporate/securities practice and served as the co-managing partner. Mr. Worthington has advised private and public life sciences and other companies on a wide range of corporate governance, compliance and transactional matters, including public offerings, mergers and acquisitions, and joint ventures, and worked closely with executive management teams on strategic business and legal matters. Mr. Worthington received his J.D. from University of California College of the Law, San Francisco, in 1993 and B.A. in American Studies from Stanford University in 1988.
|
Athira Pharma, Inc.
|
| |
33
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
•
|
attract, motivate, incentivize and retain employees at the executive level who contribute to our long-term success;
|
•
|
provide compensation packages to our executives that are fair and competitive and reward high levels of performance and the achievement of our business objectives; and
|
•
|
more closely align our executives' interests with those of our stockholders by focusing on long-term equity incentives that correlate with the growth of sustainable long-term value for our stockholders.
|
•
|
Mark Litton, Ph.D., our president and chief executive officer;
|
•
|
Andrew Gengos, our chief financial officer and chief business officer; and
|
•
|
Hans Moebius, M.D., Ph.D., our former chief medical officer.
|
Athira Pharma, Inc.
|
| |
34
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Name and
Principal Position
|
| |
Year
|
| |
Salary
($)
|
| |
Bonus
($)
|
| |
Stock
Awards
($)(1)
|
| |
Option
Awards
($)(2)
|
| |
Non-equity
Incentive Plan
Compensation
($)(3)
|
| |
All Other
Compensation
($)
|
| |
Total
($)
|
Mark Litton, Ph.D.,
President and
Chief Executive
Officer
|
| |
2023
|
| |
585,000
|
| |
-
|
| |
-
|
| |
1,378,860
|
| |
297,619
|
| |
85(4)
|
| |
2,261,564
|
|
2022
|
| |
543,400
|
| |
-
|
| |
-
|
| |
2,998,052
|
| |
233,662
|
| |
85(4)
|
| |
3,775,199
|
||
Andrew Gengos,
Chief Financial Officer and Chief Business Officer
|
| |
2023
|
| |
289,135
|
| |
-
|
| |
28,400
|
| |
901,318
|
| |
106,980
|
| |
49(4)
|
| |
1,325,881
|
Hans Moebius, M.D., Ph.D
Former Chief Medical
Officer
|
| |
2023
|
| |
465,000
|
| |
-
|
| |
-
|
| |
531,999
|
| |
172,050
|
| |
123,424(5)
|
| |
1,292,474
|
|
2022
|
| |
430,000
|
| |
-
|
| |
-
|
| |
1,450,891
|
| |
147,920
|
| |
74,922(5)
|
| |
2,103,733
|
(1)
|
In accordance with SEC rules, amounts in this column reflect the aggregate grant date fair value of performance RSU awards granted during 2023 reflecting the probable outcome of such performance conditions computed in accordance with ASC Topic 718, rather than the amounts paid or realized by the named executive officer. For a discussion of valuation assumptions, see Note 9 to our financial statements and the sections titled "Stock-based Compensation" included in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 22, 2024. The fair value of the performance RSUs at the grant date has been calculated assuming that the highest level of performance conditions will be achieved for each award.
|
(2)
|
In accordance with SEC rules, amounts in this column reflect the aggregate grant date fair value of stock options granted during 2022 and 2023 computed in accordance with ASC Topic 718, rather than the amounts paid or realized by the named executive officer. For a discussion of valuation assumptions, see Note 9 and the sections titled "Stock-based Compensation" to our financial statements included in each of our Annual Reports on Form 10-K for the years ended December 31, 2022 and December 31, 2023.
|
(3)
|
Represents cash bonuses earned by the named executive officers pursuant to our Executive Incentive Compensation Plan for 2022 performance, paid in 2023, and for 2023 performance, paid in 2024.
|
(4)
|
Represents payments made on the executive's behalf for basic life insurance and accidental death and dismemberment insurance.
|
(5)
|
Represents cash stipends paid to Dr. Moebius under the terms of his employment agreement to defray the costs associated with mandatory and elective benefits contributions. The reported amount for 2023 includes monthly cash stipends of $8,987 plus an additional $15,590, which is equal to 9.061% of the cash bonus earned by Dr. Moebius during 2023. The reported amount for 2022 includes monthly cash stipends of $5,200 plus an additional $12,522, which is equal to 8.465% of the cash bonus earned by Dr. Moebius during 2022. Dr. Moebius resigned as our chief medical officer in January 2024 but continues to provide advisory services to the company.
|
Athira Pharma, Inc.
|
| |
35
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Name
|
| |
Vesting
Commencement
Date
|
| |
Number of Securities Underlying Unexercised Options
|
| |
Stock Awards
(unvested)
|
||||||||||||
|
Exercisable
(#)
|
| |
Unexercisable
(#)
|
| |
Option
Exercise
Price
($)
|
| |
Expiration
Date
|
| |
Number of
shares or
units
|
| |
Market
value
of shares
or units
($)
|
|||||
Mark Litton, Ph.D.
|
| |
7/1/2019
|
| |
100,880
|
| |
-
|
| |
1.35
|
| |
8/14/2029
|
| |
-
|
| |
-
|
| |
8/26/2020
|
| |
34,992
|
| |
11,665(1)
|
| |
17.00
|
| |
9/16/2030
|
| |
-
|
| |
-
|
|
| |
1/8/2021
|
| |
42,500
|
| |
42,500(1)
|
| |
21.15
|
| |
2/17/2031
|
| |
-
|
| |
-
|
|
| |
11/3/2021
|
| |
-
|
| |
-
|
| |
-
|
| |
11/2/2031
|
| |
40,000(5)
|
| |
97,200
|
|
| |
1/27/2022
|
| |
191,667
|
| |
208,333(2)
|
| |
9.91
|
| |
1/26/2032
|
| |
-
|
| |
-
|
|
| |
1/27/2023
|
| |
129,861
|
| |
295,139(3)
|
| |
4.11
|
| |
1/26/2033
|
| |
-
|
| |
-
|
|
Andrew Gengos
|
| |
5/18/2023
|
| |
-
|
| |
400,000(4)
|
| |
2.84
|
| |
5/17/2033
|
| |
-
|
| |
-
|
| |
5/18/2023
|
| |
-
|
| |
-
|
| |
-
|
| |
5/17/2033
|
| |
10,000(6)
|
| |
24,300
|
|
Hans Moebius,
M.D., Ph.D.(7)
|
| |
8/26/2020
|
| |
108,761
|
| |
36,254(1)
|
| |
17.00
|
| |
9/16/2030
|
| |
-
|
| |
-
|
| |
1/8/2021
|
| |
36,000
|
| |
36,000(1)
|
| |
21.15
|
| |
2/17/2031
|
| |
-
|
| |
-
|
|
| |
11/3/2021
|
| |
-
|
| |
-
|
| |
-
|
| |
11/2/2031
|
| |
20,000(5)
|
| |
48,600
|
|
| |
1/18/2022
|
| |
86,250
|
| |
93,750(2)
|
| |
10.64
|
| |
1/17/2032
|
| |
-
|
| |
-
|
|
| |
1/19/2023
|
| |
61,111
|
| |
138,889(3)
|
| |
3.37
|
| |
1/18/2033
|
| |
-
|
| |
-
|
(1)
|
Stock option vests over four years, with 1/4 vesting on each anniversary of the vesting commencement date, subject to continued service with us through the applicable vesting date.
|
(2)
|
Stock option vests over four years, with 1/48 vesting on the monthly anniversary of the vesting commencement date, subject to continued service with us through the applicable vesting date.
|
(3)
|
Stock option vests over three years, with 1/36 vesting on the monthly anniversary of the vesting commencement date, subject to continued service with us through the applicable vesting date.
|
(4)
|
Stock option vests over four years, with 1/3 vesting on the first anniversary of the vesting commencement date, and the remaining shares shall vest monthly over the next 36 months as follows: 1/3 of the shares shall vest in equal monthly amounts over the next 12 months, 1/6 of the shares shall vest in equal monthly amounts over the subsequent 12 months, and the remaining 1/6 of the shares shall vest in equal monthly amounts over the final 12 months, in each case subject to continued service with us through the applicable vesting date.
|
(5)
|
The performance RSU awards are earned and become eligible to vest in three equal tranches in accordance with the following schedule: One third (1/3rd) of the number of shares subject to the RSU award vested at the completion of the public readout of topline results of the Company's ACT-AD Phase 2 clinical trial in June 2022, one third (1/3rd) of the number of shares subject to the RSU award vested in January 2024 when the Compensation Committee determined that enrollment of the Company's LIFT-AD Phase 2/3 clinical trial had been completed, and the remaining one third (1/3rd) of the number of shares subject to the RSU award shall vest at the completion of the public readout of topline results of the Company's LIFT-AD Phase 2/3 clinical trial, in each case subject to continued service with us through the applicable vesting date. In addition, the vesting of the performance RSUs may be accelerated in the event that, on or within 12 months following a Change in Control (within the meaning of the 2020 Equity Incentive Plan), the award recipient is terminated by the Company without "cause" (as defined in the recipient's award agreement). The preceding vesting schedule was adopted by the compensation committee of the board of directors in December 2022 due to changed circumstances relating to the performance goals under the original vesting schedule. Prior to its amendment, the original vesting schedule of the RSU awards was as follows: One third (1/3rd) of the number of shares subject to the RSU award shall vest at the completion of the public readout of topline results of the Company's ACT-AD Phase 2 clinical trial, one third (1/3rd) of the number of shares subject to the RSU award shall vest at the completion of the public readout of topline results of the Company's LIFT-AD Phase 2/3 clinical trial (the "LIFT-AD Readout"), and the remaining one third (1/3rd) of the number of shares subject to the RSU award shall be scheduled to vest six (6) months after the LIFT-AD Readout in each case, subject to continued service with us through the applicable vesting date.
|
(6)
|
The performance RSU award is earned and becomes eligible to vest in two equal tranches in accordance with the following schedule: Fifty percent (50%) of the number of shares subject to the RSU award vested in January 2024 when the Compensation Committee determined that enrollment of the Company's LIFT-AD Phase 2/3 clinical trial had been completed, and the remaining fifty percent (50%) of the shares subject to the RSUs shall vest at the completion of the public readout of topline results of the Company's LIFT-AD Phase 2/3 clinical trial, subject to continued service with us through the applicable vesting date. In addition, the vesting of the performance RSUs may be accelerated in the event that, on or within 12 months following a Change in Control (within the meaning of the 2020 Equity Incentive Plan), the award recipient is terminated by the Company without "cause" (as defined in the recipient's award agreement).
|
(7)
|
Dr. Moebius resigned as our chief medical officer in January 2024 but continues to provide advisory services to the Company.
|
Athira Pharma, Inc.
|
| |
36
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Athira Pharma, Inc.
|
| |
37
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
•
|
a lump-sum payment equal to 9 months (or 12 months in the case of Dr. Litton or in the case of Mr. Gengos, in the event such termination occurs on or before the first anniversary of the commencement of Mr. Gengos's employment) of the named executive officer's annual base salary as in effect immediately prior to such termination (or if such termination is due to a resignation for good reason based on a material reduction in base salary, then as in effect immediately prior to the reduction);
|
•
|
for named executive officers other than Dr. Moebius, payment of premiums for coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (COBRA), for the named executive officer and his or her eligible dependents, if any, for up to 9 months (or up to 12 months for Dr. Litton); and
|
•
|
in the case of Dr. Litton, 25% accelerated vesting and exercisability of the shares subject to the stock option award granted to Dr. Litton on August 15, 2019, that are outstanding and unvested as of the date of such termination.
|
Athira Pharma, Inc.
|
| |
38
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
•
|
a lump-sum payment equal to 12 months (or 18 months in the case of Dr. Litton) of the named executive officer's annual base salary as in effect immediately prior to such termination (or if such termination is due to a resignation for good reason based on a material reduction in base salary, then as in effect immediately prior to the reduction) or if greater, at the level in effect immediately prior to the change in control;
|
•
|
a lump-sum payment equal to 100% (or 150% in the case of Dr. Litton) of the named executive officer's target annual bonus as in effect for the fiscal year in which such termination occurs or if greater, at the level in effect, immediately prior to the change in control;
|
•
|
for named executive officers other than Dr. Moebius, payment of premiums for coverage under COBRA for the named executive officer and the named executive officer's eligible dependents, if any, for up to 12 months (or up to 18 months for Dr. Litton); and
|
•
|
100% accelerated vesting and exercisability of all Company equity awards with service-based vesting (but that are not subject to performance-based vesting) that are outstanding and unvested as of the date of the qualifying termination.
|
Athira Pharma, Inc.
|
| |
39
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Athira Pharma, Inc.
|
| |
40
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Athira Pharma, Inc.
|
| |
41
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Athira Pharma, Inc.
|
| |
42
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
•
|
each person, or group of affiliated persons, who is known by us to beneficially own more than 5% of our common stock;
|
•
|
each of our named executive officers;
|
•
|
each of our directors; and
|
•
|
all of our executive officers and directors as a group.
|
Athira Pharma, Inc.
|
| |
43
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
| |
Shares Beneficially Owned
|
||||
| |
Number of
Shares
|
| |
Percentage
(%)
|
|
5% AND GREATER STOCKHOLDERS:
|
||||||
Perceptive Life Sciences Master Fund Ltd.(1)
|
| |
5,402,964
|
| |
14.1
|
Entities affiliated with Baker Bros. Advisors LP(2)
|
| |
3,153,807
|
| |
8.2
|
Richard A. Kayne(3)
|
| |
1,983,468
|
| |
5.2
|
NAMED EXECUTIVE OFFICERS AND DIRECTORS:
|
| | | | ||
Mark Litton(4)
|
| |
792,873
|
| |
2.0
|
Andrew Gengos(5)
|
| |
95,470
|
| |
*
|
Hans Moebius(6)
|
| |
452,226
|
| |
1.2
|
Joseph Edelman(7)
|
| |
5,458,448
|
| |
14.2
|
John M. Fluke, Jr.(8)
|
| |
204,099
|
| |
*
|
James A. Johnson(9)
|
| |
60,484
|
| |
*
|
Barbara Kosacz(10)
|
| |
41,613
|
| |
*
|
Kelly A. Romano(11)
|
| |
79,928
|
| |
*
|
Grant Pickering(12)
|
| |
50,057
|
| |
*
|
Michael Panzara(13)
|
| |
21,576
|
| |
*
|
ALL CURRENT DIRECTORS AND EXECUTIVE OFFICERS AS A GROUP (12 PERSONS)(14)
|
| |
7,631,180
|
| |
19.1
|
*
|
Represents beneficial ownership of less than 1% of our outstanding common stock.
|
(1)
|
Based on the Schedule 13D/A filed with the SEC on December 29, 2023. Consists of 5,402,964 shares held of record by Perceptive Life Sciences Master Fund Ltd. ("Perceptive"). The business address of Perceptive is 51 Astor Place, 10th Floor, New York, NY 10003. Perceptive Advisors LLC serves as the investment manager of Perceptive. Joseph Edelman is the managing member of Perceptive Advisors LLC and he may be deemed to beneficially own the shares held by Perceptive.
|
(2)
|
Based on the Schedule 13G filed with the SEC on February 14, 2024. Consists of 3,153,807 shares held of record by Baker Bros. Advisors LLP. The address and principal office of Baker Bros. Advisors LLP is 860 Washington Street, 3rd Floor, New York, NY 10014.
|
(3)
|
Based on the Schedule 13G filed with the SEC on April 20, 2023. Consists of 1,983,468 shares held of record by Richard A. Kayne. The business address of Richard A. Kayne is 1800 Avenue of the Stars, Third Floor, Los Angeles, CA 90067.
|
(4)
|
Consists of 144,397 shares held of record by Dr. Litton, 6,563 shares held by Irrevocable Trust of OSL, 6,563 shares held by Irrevocable Trust of SWL, and 6,563 shares held by Irrevocable Trust of WGL, each irrevocable trust is for the benefit of Dr. Litton's children, and options to purchase 628,787 shares that are exercisable within 60 days of February 29, 2024.
|
(5)
|
Consists of 83,804 shares held by Mr. Gengos and options to purchase 11,666 shares that are exercisable within 60 days of February 29, 2024.
|
(6)
|
Consists of 91,482 shares held by Dr. Moebius and options to purchase 360,744 shares that are exercisable within 60 days of February 29, 2024
|
(7)
|
Consists of the shares referenced in footnote (1) above and options to purchase 55,484 shares that are exercisable within 60 days of February 29, 2024.
|
(8)
|
Consists of 3,731 shares held of record by Fluke Capital Management, L.P., 144,884 shares held by Mr. Fluke, and options to purchase 55,484 shares that are exercisable within 60 days of February 29, 2024.
|
(9)
|
Consists of 5,000 shares held by Mr. Johnson and options to purchase 55,484 shares that are exercisable within 60 days of February 29, 2024.
|
(10)
|
Consists of options held by Ms. Kosacz to purchase 41,613 shares that are exercisable within 60 days of February 29, 2024.
|
(11)
|
Consists of 38,315 shares held by Ms. Romano and options to purchase 41,613 shares that are exercisable within 60 days of February 29, 2024.
|
(12)
|
Consists of 25,783 shares held by Mr. Pickering and options to purchase 24,274 shares that are exercisable within 60 days of February 29, 2024.
|
(13)
|
Consists of options held by Dr. Panzara to purchase 21,576 shares that are exercisable within 60 days of February 29, 2024.
|
(14)
|
Consists of 5,996,670 shares held by our current directors and executive officers as a group and options to purchase 1,634,510 shares that are exercisable within 60 days of February 29, 2024.
|
Athira Pharma, Inc.
|
| |
44
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Plan Category
|
| |
(a) Number of
Securities to be
Issued Upon
Exercise of
Outstanding
Options, Warrants
and Rights
|
| |
(b) Weighted
Average
Exercise
Price of
Outstanding
Options,
Warrants
and Rights
|
| |
(c) Number of
Securities
Remaining
Available for
Future
Issuance
Under Equity
Compensation
Plans
(Excluding
Securities
Reflected in
Column (a))(3)
|
Equity compensation plans approved by security holders:
|
|||||||||
2014 Equity Incentive Plan
|
| |
259,647
|
| |
$0.94
|
| |
-
|
2020 Equity Incentive Plan
|
| |
6,869,309(1)
|
| |
$8.25(2)
|
| |
3,158,094
|
2020 Employee Stock Purchase Plan
|
| |
-
|
| |
-
|
| |
1,128,732
|
Total
|
| |
7,128,956
|
| | | |
4,286,826
|
(1)
|
Includes both 6,561,222 outstanding options and 308,087 outstanding, unvested performance restricted stock units.
|
(2)
|
Represents the outstanding options' weighted-average exercise price and does not take into account the shares issuable upon vesting of outstanding performance restricted stock units, which do not have an exercise price.
|
(3)
|
Our 2020 Equity Incentive Plan includes provisions providing for an annual increase in the number of securities available for future issuance on the first day of each fiscal year, equal to the least of: (1) 3,230,000 shares; (2) 5% of the outstanding shares of common stock as of the last day of the immediately preceding fiscal year; and (3) such lesser number of shares determined by the board of directors. Our 2020 Employee Stock Purchase Plan includes provisions providing for an annual increase in the number of securities available for future issuance on the first day of each fiscal year, equal to the least of: (1) 1% of the outstanding shares of common stock on the first day of such fiscal year; (2) 646,000 shares; and (3) such lesser number of shares determined by the board of directors.
|
Athira Pharma, Inc.
|
| |
45
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
•
|
compensation of our executive officers and directors that is otherwise disclosed in our public filings with the SEC;
|
•
|
compensation, benefits and other transactions available to all of our employees generally;
|
•
|
transactions where a related-person's interest derives solely from his or her service as a director of another entity that is a party to the transaction;
|
•
|
transactions where a related-person's interest derives solely from his or her ownership of less than 10% of the equity interest in another entity that is a party to the transaction; and
|
•
|
transactions where a related-person's interest derives solely from his or her ownership of a class of our equity securities and all holders of that class received the same benefit on a pro rata basis.
|
•
|
the benefits and perceived benefits to us;
|
•
|
the materiality and character of the related-person's direct and indirect interest;
|
•
|
the availability of other sources for comparable products or services;
|
•
|
the terms of the transaction; and
|
•
|
the terms available to unrelated third parties under the same or similar circumstances.
|
Athira Pharma, Inc.
|
| |
46
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Athira Pharma, Inc.
|
| |
47
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
Athira Pharma, Inc.
|
| |
48
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
| | | | |||
| |
By:
|
| | ||
| |
[NAME]
|
| | ||
| |
[TITLE]
|
| |
Athira Pharma, Inc.
|
| |
49
|
| |
2024 Proxy Statement
|
TABLE OF CONTENTS
TABLE OF CONTENTS