04/25/2024 | Press release | Distributed by Public on 04/25/2024 14:04
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Preliminary Proxy Statement.
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)).
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Definitive Proxy Statement.
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Definitive Additional Materials.
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Soliciting Material under § 240.14a-12.
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No fee required.
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Fee paid previously with preliminary materials.
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Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.
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To elect the two nominees for director named in the accompanying proxy statement to serve as Class I directors to hold office until the 2027 annual meeting of stockholders or until their respective successors are duly elected and qualified.
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To ratify the selection by the Audit Committee of our Board of Directors of KPMG LLP as our independent registered public accounting firm for our fiscal year ending December 31, 2024.
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To approve, on a non-binding advisory basis, the compensation of our named executive officers.
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To conduct any other business properly brought before the meeting or any continuation, adjournment or postponement thereof.
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Page
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QUESTIONS AND ANSWERS ABOUT THESE PROXY MATERIALS AND VOTING
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1
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PROPOSAL 1: ELECTION OF DIRECTORS
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7
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INFORMATION REGARDING THE BOARD AND CORPORATE GOVERNANCE
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11
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PROPOSAL 2: RATIFICATION OF SELECTION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
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18
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PROPOSAL 3: APPROVAL, ON A NON-BINDING ADVISORY BASIS, OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS
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19
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SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
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20
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MANAGEMENT
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SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE
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24
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EXECUTIVE COMPENSATION
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25
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CERTAIN RELATIONSHIPS AND RELATED-PERSON TRANSACTIONS
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36
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HOUSEHOLDING
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38
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OTHER MATTERS
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38
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Election of two Class I directors;
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Ratification of selection by the Audit Committee of our Board of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2024; and
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Approval, on a non-binding advisory basis, of the compensation of our named executive officers.
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To vote prior to or during the Annual Meeting, go to www.virtualshareholdermeeting.com/ANNX2024 to vote your shares prior to or during the Annual Meeting. You will need the 16-digit control number which appears on your proxy card (printed in the box and marked by the arrow) and the instructions that accompanied your proxy materials.
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To vote using the proxy card, simply complete, sign and date the proxy card and return it promptly in the envelope provided. If you return your signed proxy card to us before the Annual Meeting, we will vote your shares as you direct.
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To vote over the telephone, dial toll-free 1-800-690-6903 using a touch-tone phone and follow the recorded instructions. You will be asked to provide the company number and control number from the Notice. Your telephone vote must be received by 11:59 p.m. Eastern Time on June 4, 2024 to be counted.
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To vote through the internet before the Annual Meeting, go to http://www.proxyvote.com to complete an electronic proxy card. You will be asked to provide the company number and control number from the Notice. Your internet vote must be received by 11:59 p.m. Eastern Time on June 4, 2024 to be counted.
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You may submit another properly completed proxy card with a later date.
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You may grant a subsequent proxy by telephone or through the internet.
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You may send a timely written notice that you are revoking your proxy to our Corporate Secretary prior to or at the Annual Meeting.
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You may attend the Annual Meeting and vote by following the instructions described above. Simply attending the meeting will not, by itself, revoke your proxy.
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Proposal
Number
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Proposal
Description
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Vote Required
for Approval
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Effect of
Abstentions
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Broker
Discretionary
Voting Allowed
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Effect of Broker
Non-Votes
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1
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Election of directors
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The plurality of the votes cast. This means that the nominees receiving the highest number of affirmative "FOR" votes will be elected as Class I directors.
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Not applicable
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No
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None
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2
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Ratification of the selection of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2024
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The affirmative vote of the holders of a majority of the votes cast (excluding abstentions and broker non-votes).
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None
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Yes
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Not applicable
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3
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Approval, on a non-binding advisory basis, of the compensation of our named executive officers
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The affirmative vote of the holders of a majority of the votes cast (excluding abstentions and broker non-votes).
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None
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No
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None
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Name
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Age
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Director
Class
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William H. Carson, M.D.
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65
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Class I
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Muneer A. Satter
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63
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Class I
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Jung E. Choi
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54
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Class II
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William D. Waddill
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67
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Class II
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Bettina M. Cockroft, M.D.
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57
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Class III
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Douglas Love, Esq.
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56
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Class III
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Thomas G. Wiggans
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72
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Class III
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appointment, engagement, compensation, retention and oversight of the work of our independent registered public accounting firm;
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pre-approving any audit and non-audit service provided to us by the independent registered public accounting firm;
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reviewing and discussing our financial statements with management, including our management's discussion and analysis of financial condition and results of operations to be included in our Annual and Quarterly Reports to be filed with the SEC;
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discussing with management and the independent registered public accounting firm the results of the annual audit and the review of our quarterly financial statements;
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discussing with management our policies with respect to risk assessment and risk management;
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establishing procedures for the receipt, retention and treatment of any complaints received by us regarding accounting, internal accounting controls or auditing matters;
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consulting with management to establish procedures and internal controls relating to cybersecurity;
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reviewing and approving all related party transactions;
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investigating any reports received through the ethics helpline and reports to the Board periodically with respect to any information received through the ethics helpline and any related investigations; and
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conducting an annual assessment of the performance of the Audit Committee and its members, and the adequacy of its charter.
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Dr. Bettina Cockroft
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Mr. Muneer Satter
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Mr. William D. Waddill (Chair)
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reviewing and approving the compensation and other terms of employment of our chief executive officer and other executive officers;
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reviewing and recommending to the Board the corporate performance goals and objectives relevant to such compensation;
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reviewing and considering the results of our most recent stockholder advisory vote on the compensation of our executive officers, if any;
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establishing, amending, managing, periodically reviewing and, where appropriate, terminating our equity incentive plans, compensation plans and similar programs;
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periodically reviewing and recommending to the Board the compensation paid to our directors;
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periodically reviewing, assessing and providing oversight with respect to our strategy, initiatives and policies concerning employee diversity and inclusion goals; and
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conducting an annual assessment of the performance of the Compensation Committee and its members, and the adequacy of its charter.
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updating the peer group of companies for our executive and director compensation analysis;
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updating company-wide market-based compensation guidelines;
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updating company-wide market-based equity compensation guidelines for new hires and annual grants; and
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reviewing executive compensation market-based benchmarking data.
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reviewing and advising, on our strategic direction with respect to, and investment in, research and development and technology for our current and planned platform and pipeline, including research, preclinical and clinical development programs;
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advising and discussing with management science, medical and technology-related operational issues; and
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receiving and reviewing reports and presentations from management on the status of our science and technology strategy.
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personal and professional integrity;
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ethics and values;
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experience in corporate management, such as serving as an officer or former officer of a publicly-held company;
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professional and academic experience relevant to our industry;
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experience as a Board member of another publicly-held company;
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strength of leadership skills;
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experience in finance and accounting and/or executive compensation practices;
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ability to devote the time required for preparation, participation and attendance at Board meetings and committee meetings, if applicable;
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background, gender, age and ethnicity;
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conflicts of interest; and
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ability to make mature business judgments.
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Board Diversity Matrix
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Board Size:
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Total Number of Directors: 7
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As of
April 8, 2024
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As of
April 8, 2023
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Female
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Male
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Female
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Male
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Gender Identity:
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Directors
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2
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5
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2
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5
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Demographic Background:
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African American or Black
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-
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2
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-
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2
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Asian
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1
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1
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1
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1
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White
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1
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2
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1
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2
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LGBTQ+
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1
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1
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Fiscal Year
Ended
December 31, 2023
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Fiscal Year
Ended
December 31, 2022
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Audit Fees(1)
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$1,298,631
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$1,221,914
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Audit-Related Fees
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-
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Tax Fees
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All Other Fees
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Total Fees
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$1,298,631
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$1,221,914
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(1)
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"Audit Fees" consist of fees billed for professional services rendered in connection with the audit of our consolidated financial statements, reviews of our quarterly consolidated financial statements and related accounting consultations and services that are normally provided by the independent registered public accountants in connection with statutory and regulatory filings or engagements for those fiscal years.
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each beneficial owner of 5% or more of the outstanding shares of our common stock;
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each of our directors;
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each of our named executive officers; and
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all directors and executive officers as a group.
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Name of Beneficial Owner
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Number of
Shares
Beneficially
Owned
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Percent of
Shares
Outstanding
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Five Percent Stockholders
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FMR LLC(1)
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9,685,401
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10.63%
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Redmile Group, LLC(2)
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9,504,782
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9.99%
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Entities affiliated with Bain Capital Life Sciences Investors, LLC(3)
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9,482,725
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9.99%
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BVF Partners L.P.(4)
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9,027,778
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9.69%
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Trusts and other entities affiliated with Muneer A. Satter(5)
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8,053,521
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8.77%
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Logos Global Management LP(6)
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6,943,400
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7.62%
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Adage Capital Partners L.P.(7)
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5,645,761
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6.15%
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Entities affiliated with Point72 Asset Management, L.P.(8)
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4,868,603
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5.34%
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Directors and Named Executive Officers
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William H. Carson, M.D.(9)
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54,000
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*
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Jung E. Choi(10)
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69,565
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*
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Bettina M. Cockroft, M.D.(11)
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39,555
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*
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Muneer A. Satter(12)
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8,053,521
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8.77%
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William D. Waddill(13)
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42,333
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*
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Thomas G. Wiggans(14)
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65,745
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*
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Douglas E. Love(15)
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2,054,962
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2.21%
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Rick Artis, Ph.D.(16)
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217,622
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*
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Ted Yednock, Ph.D.(17)
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553,936
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*
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All current executive officers and directors as a group (12 persons)(18)
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12,107,261
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12.67%
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*
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Represents beneficial ownership of less than 1%.
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(1)
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Based solely upon a Schedule 13G/A filed with the SEC on January 9, 2024 and information known to us. FMR LLC beneficially owns 9,685,401 shares of our common stock. Abigail P. Johnson is a Director, the Chairman and the Chief Executive Officer of FMR LLC. Members of the Johnson family, including Abigail P. Johnson, are the predominant owners, directly or through trusts, of Series B voting common shares of FMR LLC, representing 49% of the voting power of FMR LLC. The Johnson family group and all other Series B shareholders have entered into a shareholders' voting agreement under which all Series B voting common shares will be voted in accordance with the majority vote of Series B voting common shares. Accordingly, through their ownership of voting common shares and the execution of the shareholders' voting agreement, members of the Johnson family may be deemed, under the Investment Company Act of 1940, to form a controlling group with respect to FMR LLC. The business address for FMR LLC is 245 Summer Street, Boston, Massachusetts 02110.
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(2)
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Based solely upon a Schedule 13G/A filed with the SEC on February 14, 2024 and information known to us. As of December 31, 2023, consists of (i) 5,503,190 shares of common stock were held by certain private investment vehicles and/or sub-advised accounts managed by Redmile Group, LLC, including 1,911,695 shares of common stock held directly by Redmile Biopharma Investments II, L.P., which shares of common stock may be deemed beneficially owned by Redmile Group, LLC as investment manager of such private investment vehicles and/or sub-advised accounts, (ii) common warrants to purchase 4,197,610 shares of common stock and pre-funded warrants to purchase 21,030,226 shares of common stock were held by RedCo II Master Fund, L.P., (iii) common warrants to purchase 645,786 shares of common stock and pre-funded warrants to purchase 6,056,573 shares of common stock were held by Redmile Biopharma Investments II, L.P., (iv) pre-funded warrants to purchase 965,427 shares of common stock were held by Redmile Strategic Trading Sub, Ltd., (v) pre-funded warrants to purchase 488,500 shares of common stock were held by Redmile Capital Offshore II Master Fund, Ltd. (Strategic Sleeve), and (vi) pre-funded warrants to purchase 1,940,500 shares of common stock were held by Redmile Strategic Long Only Trading Sub, Ltd. These securities may also be deemed beneficially owned by Redmile Group, LLC and Jeremy C. Green as the principal of Redmile Group, LLC. Redmile Group, LLC and Mr. Green each disclaim beneficial ownership of these securities, except to the extent of its or his pecuniary interest in such shares, if any. Pursuant to the terms of the common warrants and the pre-funded warrants, a holder of a warrant does not have the right to exercise any portion of the warrant that would result in the holder, together with its affiliates, beneficially owning a number of shares of common stock in excess of the 9.99% (the "Blocker") of the shares of common stock then issued and outstanding following the exercise of the warrants, which percentage may be changed at a holder's election upon 61 days' notice to us. Accordingly, pursuant to Rule 13d-3 under the Exchange Act, the 9,199,792 shares of common stock reported as beneficially owned by Redmile Group, LLC in the table above consists of (i) an aggregate of 5,503,190 shares of common stock and (ii) an aggregate of 3,696,602 shares of common stock issuable upon the exercise of the common warrants and pre-funded warrants, which together represent 9.99% of our common stock outstanding as of April 8, 2024 assuming the exercise of such warrants. The address for Redmile Group, LLC and Mr. Green is One Letterman Drive, Building D, Suite D3-300, The Presidio of San Francisco, San Francisco, California 94129.
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(3)
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Based solely upon a Schedule 13G/A filed with the SEC on February 13, 2024 and information known by us. As of December 31, 2023, consists of (i) 2,940,627 shares of common stock were directly held by Bain Capital Life Sciences Fund, L.P. ("BCLS Fund I"), (ii) 301,001 shares of common stock were directly held by BCIP Life Sciences Associates, LP ("BCIPLS") and (iii) 2,460,298 shares of common stock, common warrants to purchase 774,943 shares of common stock and pre-funded warrants to purchase 2,739,475 shares of common stock were directly held by BCLS I Investco, LP ("BCLS I Investco"). Bain Capital Life Sciences Investors, LLC ("BCLSI") is the general partner of Bain Capital Life Sciences Partners, LP ("BCLSP"), which is the general partner of BCLS Fund I. Boylston Coinvestors, LLC ("Boylston") is the general partner of BCIPLS. BCLSI governs the investment strategy and decision-making process with respect to investments held by BCIPLS. BCLS I Investco GP, LLC ("BCLS I Investco GP" and, together with BCLS Fund I, BCIPLS, BCLS I Investco, BCLSI, BCLSP and Boylston, the "Bain Capital Life Sciences Entities"), whose manager is BCLS Fund I, is the general partner of BCLS I Investco. As a result, BCLSI may be deemed to share voting and dispositive power with respect to the securities held by BCLS Fund I, BCIPLS and BCLS I Investco. As a result of the Blocker and pursuant to Rule 13d-3 under the Exchange Act, the 9,177,734 shares of common stock reported as beneficially owned by the Bain Capital Life Science Entities in the table above consists of (i) an aggregate of 5,701,926 shares of common stock held by BCLS, BCIP Life Sciences Associates and BCLS I Investco and (ii) an aggregate of 3,475,808 shares issuable upon the exercise of the common warrants and pre-funded warrants held by BCLS I Investco, which together represent 9.99% of our common stock outstanding as of April 8, 2024, assuming the exercise of such warrants. The address of the Bain Capital Life Sciences Entities is c/o Bain Capital Life Sciences, LP, 200 Clarendon Street, Boston, Massachusetts 02116.
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(4)
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Based solely upon a Schedule 13G/A filed with the SEC on February 14, 2024. As of December 31, 2023, consists of (i) 3,673,570 shares of common stock and pre-funded warrants to purchase 1,064,170 shares of common stock beneficially owned by Biotechnology Value Fund, L.P. ("BVF"), (ii) 2,863,847 shares of common stock and pre-funded warrants to purchase 829,606 shares of common stock beneficially owned by Biotechnology Value Fund II, L.P. ("BVF2"), (iii) 359,856 shares of common stock and pre-funded warrants to purchase 104,244 shares of common stock beneficially owned by Biotechnology Value Trading Fund OS LP ("Trading Fund OS"), (iv) 102,727 shares held in a certain BVF Partners L.P. ("Partners") managed account (the "Partners Managed Account"), and (v) pre-funded warrants to purchase 29,758 shares of common stock beneficially owned by MSI BVF SPV, LLC ("MSI BVF") as of December 31, 2023. BVF I GP LLC ("BVF GP"), as the general partner of BVF, may be deemed to beneficially own the shares beneficially owned by BVF. BVF II GP LLC ("BVF2 GP"), as the general partner of BVF2, may be deemed to beneficially own the shares beneficially owned by BVF2. BVF Partners OS Ltd. ("Partners OS"), as the general partner of Trading Fund OS, may be deemed to beneficially own the shares beneficially owned by Trading Fund OS. BVF GP Holdings LLC ("BVF GPH" and, together with BVF, BVF2, Trading Fund OS, Partners, MSI BVF, BVF GP, BVF2 GP and Partners OS, the "BVF Entities"), as the sole member of each of BVF GP and BVF2 GP, may be deemed to beneficially own the shares beneficially owned in the aggregate by BVF and BVF2. Partners, as the investment manager of BVF, BVF2, Trading Fund OS, and MSI BVF and the sole member of Partners OS, may be deemed to beneficially own the shares beneficially owned in the aggregate by BVF, BVF2, Trading Fund OS and MSI BVF. Including shares held in the Partners Managed Account. BVF Inc., as the general partner of Partners, may be deemed to beneficially own the shares beneficially owned by Partners. Mark N. Lampert, as a director and officer of BVF Inc., may be deemed to beneficially own the shares beneficially owned by BVF Inc. BVF GP disclaims beneficial ownership of the shares beneficially owned by BVF. BVF2 GP disclaims beneficial ownership of the shares beneficially owned by BVF2. Partners OS disclaims beneficial ownership of the shares beneficially owned by Trading Fund OS. BVF GPH disclaims beneficial ownership of the shares beneficially owned by BVF and BVF2. Each of Partners, BVF Inc. and Mr. Lampert disclaims beneficial ownership of the shares beneficially owned by BVF, BVF2 and Trading Fund OS and held in the Partners Managed Account. The address for BVF, BVF GP, BVF2, BVF2 GP, BVF GPH, MSI BVF, Partners, BVF Inc. and Mr. Lampert is 44 Montgomery Street, 40th Floor, San Francisco, California 94104 and the address for Trading Fund OS and Partners OS is PO Box 309 Ugland House, Grand Cayman, KY1-1104, Cayman Islands.
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(5)
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Based solely upon a Form 4 filed with the SEC on December 28, 2023 and information known to us. Consists of (i) 240,000 shares that are held by the Muneer A. Satter Revocable Trust for which the reporting person serves as trustee and, in such capacity, has sole voting and dispositive power over all such shares, (ii) 567,240 shares that are held by various other trusts and other entities for which the reporting person serves as trustee, investment advisor or manager and, in such capacity, has sole voting and dispositive power over all such shares, (iii) 1,147,738 shares that are held by Satter Medical Technology Partners, L.P. for which the reporting person has sole voting and dispositive power over all such shares, (iv) 5,451,046 shares of common stock and warrants to purchase 613,497 shares of common stock that are held by Alerce Medical Technology Partners, L.P. for which the reporting person has sole voting and dispositive power of all such shares, and (v) 34,000 shares of common stock that may be acquired pursuant to the exercise of stock options held by Mr. Satter within 60 days of April 8, 2024. Pursuant to the terms of the common warrants, Alerce Medical may not exercise any portion of any common warrant, which, upon giving effect to such exercise, would cause it (together with its affiliates) to own more than 19.99% of the number of shares of the common stock outstanding immediately after giving effect to such exercise, as such percentage ownership is determined in accordance with the terms of the common warrants. However, Alerce Medical may decrease such percentage to any other percentage (or subsequently increase to any other percentage not in excess of 19.99%, provided that any increase in such percentage shall not be effective until 61 days after such notice is delivered to us). The address of Mr. Satter and the entities affiliated with Mr. Satter is c/o Alerce Investment Management, L.P, 676 North Michigan Avenue, Suite 4000, Chicago, Illinois 60611.
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(6)
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Based solely upon a Schedule 13G/A filed with the SEC on February 13, 2024 and information known to us. Consists of (i) 3,471,700 shares that are held by Logos Global Master Fund LP ("Global Fund"), including shares issued upon the net exercise of pre-funded warrants in February 2024, and (ii) 3,471,700 shares that are held by Logos Opportunities Fund IV LP ("Opportunities Fund," together with the Global Fund, the "Logos Funds"), including shares issued upon the net exercise of pre-funded warrants in February 2024. Logos Global Management LP ("Logos Global") is the investment adviser to investment funds, including Logos Global Master Fund LP. Logos Global Management GP LLC ("Logos Global GP") is the general partner of Logos Global. Arsani William is a control person of Logos Global and Logos Global GP. Global Fund, Logos Global, Logos GP LLC, Logos Global GP, and Dr. William each disclaim beneficial ownership of these securities. The address for the Logos Entities is One Letterman Drive, Building C, Suite C3-350, San Francisco, California 94129.
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(7)
|
Based solely upon a Schedule 13G/A filed with the SEC on February 7, 2024. As of December 31, 2023, consists of (i) 4,999,975 shares of common stock and (ii) 645,786 shares of common stock issuable upon the exercise of common warrants held by Adage Capital Partners, L.P. Bob Atchinson and Phillip Gross are the managing members of Adage Capital Advisors, L.L.C., which is the managing member of Adage Capital Partners GP, L.L.C., which is the general partner of Adage Capital Partners, L.P., and each such person or entity, as the case may be, may be deemed the beneficial owner of the shares held by Adage Capital Partners, L.P. Pursuant to the terms of the common warrants, Adage Capital Partners, L.P. may not exercise any portion of any common warrant, which, upon giving effect to such exercise, would cause it (together with its affiliates) to own more than 9.99% of the number of shares of the common stock outstanding immediately after giving effect to such exercise, as such percentage ownership is determined in accordance with the terms of the common warrants. However, Adage may increase or decrease such percentage to any other percentage, not in excess of 19.99%, provided that any increase in such percentage shall not be effective until 61 days after such notice is delivered to us. The address of Adage Capital Partners, L.P. is 200 Clarendon Street, 52nd Floor, Boston, Massachusetts 02116.
|
(8)
|
Based solely upon a Schedule 13G/A filed with the SEC on February 12, 2024 and information known to us. As of February 2, 2024, consists of 4,856,400 shares held by Point72 Associates, LLC ("Point72 Associates") and 12,203 shares held by an investment fund managed by Cubist Systematic Strategies, LLC ("Cubist Systematic Strategies"). Point72 Asset Management, L.P. ("Point72 Asset Management") maintains investment and voting power with respect to the securities held by Point72 Associates. Point72 Capital Advisors, Inc. ("Point72 Capital Advisors") is the general partner of Point72 Asset Management. Stephen A. Cohen controls each of Point72 Asset Management, Point72 Capital Advisors and Cubist Systematic Strategies. The address of the principal business office of (i) Point72 Asset Management, Point72 Capital Advisors, and Mr. Cohen is 72 Cummings Point Road, Stamford, CT 06902; and (ii) Cubist Systematic Strategies is 55 Hudson Yards, New York, NY 10001.
|
(9)
|
Consists of 54,000 shares of common stock that may be acquired pursuant to the exercise of stock options held by Dr. Carson within 60 days of April 8, 2024.
|
(10)
|
Consists of 69,565 shares of common stock that may be acquired pursuant to the exercise of stock options held by Ms. Choi within 60 days of April 8, 2024.
|
(11)
|
Consists of 39,555 shares of common stock that may be acquired pursuant to the exercise of stock options held by Dr. Cockroft within 60 days of April 8, 2024.
|
(12)
|
Consists of the securities described in footnote (5) above.
|
(13)
|
Consists of 42,333 shares of common stock that may be acquired pursuant to the exercise of stock options held by Mr. Waddill within 60 days of April 8, 2024.
|
(14)
|
Consists of 65,475 shares of common stock that may be acquired pursuant to the exercise of stock options held by Mr. Wiggans within 60 days of April 8, 2024.
|
(15)
|
Consists of (i) 182,787 shares of common stock held of record by Mr. Love and (ii) 1,872,175 shares of common stock that may be acquired pursuant to the exercise of stock options held by Mr. Love within 60 days of April 8, 2024.
|
(16)
|
Consists of (i) 50,329 shares of common stock held of record by Dr. Artis and (ii) 167,293 shares of common stock that may be acquired pursuant to the exercise of stock options held by Dr. Artis within 60 days of April 8, 2024.
|
(17)
|
Consists of (i) 31,404 shares of common stock held of record by Dr. Yednock and (ii) 522,532 shares of common stock that may be acquired pursuant to the exercise of stock options held by Dr. Yednock within 60 days of April 8, 2024.
|
(18)
|
Consists of (i) 7,714,109 shares of common stock beneficially owned by our current executive officers and directors and (ii) 4,393,152 shares of common stock that may be acquired pursuant to the exercise of stock options held by our current executive officers and directors within 60 days of April 8, 2024.
|
TABLE OF CONTENTS
Name
|
| |
Age
|
| |
Position
|
Executive Officers
|
| | | | ||
Douglas E. Love, Esq.
|
| |
56
|
| |
President, Chief Executive Officer and Class III Director
|
Rick Artis, Ph.D.
|
| |
63
|
| |
EVP & Chief Scientific Officer
|
Ted Yednock, Ph.D.
|
| |
66
|
| |
EVP & Chief Innovation Officer
|
Jennifer Lew
|
| |
51
|
| |
EVP& Chief Financial Officer
|
Michael Overdorf
|
| |
54
|
| |
EVP& Chief Business Officer
|
Jamie Dananberg, M.D.
|
| |
66
|
| |
EVP & Chief Medical Officer
|
TABLE OF CONTENTS
TABLE OF CONTENTS
•
|
Douglas Love, Esq., our President and Chief Executive Officer;
|
•
|
Ted Yednock, Ph.D., our Executive Vice President and Chief Innovation Officer; and
|
•
|
Rick Artis, Ph.D., our Executive Vice President and Chief Scientific Officer.
|
TABLE OF CONTENTS
Name and Principal Position during 2023
|
| |
Year
|
| |
Salary
($)
|
| |
Bonus
($)
|
| |
Stock
Awards
($)(1)
|
| |
Option
Awards
($)(1)
|
| |
Non-Equity
Incentive
Plan
Compensation
($)(2)
|
| |
All Other
Compensation
($)
|
| |
Total
($)
|
Douglas Love, Esq.
President & Chief Executive Officer
|
| |
2023
|
| |
593,380
|
| |
-
|
| |
-
|
| |
1,473,062
|
| |
375,703
|
| |
11,039(3)
|
| |
2,453,184
|
|
2022
|
| |
568,642
|
| |
-
|
| |
277,600
|
| |
2,382,848
|
| |
345,395
|
| |
7,950
|
| |
3,582,434
|
||
Ted Yednock, Ph.D.
Executive Vice President and Chief Innovation Officer
|
| |
2023
|
| |
462,626
|
| |
-
|
| |
112,712
|
| |
328,984
|
| |
207,634
|
| |
27,500(4)
|
| |
1,139,456
|
|
2022
|
| |
443,533
|
| |
-
|
| |
123,406
|
| |
692,813
|
| |
192,283
|
| |
25,085
|
| |
1,477,120
|
||
Rick Artis, Ph.D.(5)
Executive Vice President and Chief Scientific Officer
|
| |
2023
|
| |
442,500
|
| |
150,000(4)
|
| |
-
|
| |
1,031,852
|
| |
200,880
|
| |
4,000(6)
|
| |
1,829,232
|
(1)
|
The amounts in the "Option Awards" and "Stock Awards" columns reflect the aggregate grant date fair value of stock options and restricted stock units granted during the fiscal year computed in accordance with the provisions of ASC-718. The assumptions that we used to calculate these amounts are discussed in Note 7 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. These amounts may not reflect the actual economic value that will be realized by the named executive officer upon the exercise of the stock options or the sale of the common stock issued upon such exercise.
|
(2)
|
Amounts in the "Non-equity Incentive Plan Compensation" column represent amounts earned by our named executive officers under our performance-based cash bonus program based on the achievement of pre-established corporate goals.
|
(3)
|
Consists of key-person life insurance premiums of $8,660 and 401(k) matching contributions of $2,379.
|
(4)
|
Consists of key-person life insurance premiums.
|
(5)
|
Dr. Artis served as our Senior Vice President, Chemistry from October 2016 to December 2021. From December 2021 up to December 2022, Dr. Artis provided service as an outside consultant. On January 6, 2023, Dr Artis joined Annexon as Chief Scientific Officer and received a sign-on bonus of $150,000. His base salary and cash incentive bonus for 2023 are prorated for his time as Chief Scientific Officer with the Company since January 6, 2023. Other amounts reflect all compensation paid to Dr. Artis for services rendered in 2023.
|
(6)
|
Consists of 401(k) matching contributions.
|
TABLE OF CONTENTS
| |
Option Awards
|
| |
Stock Awards
|
||||||||||||||||
Name and Principal Position
during 2023
|
| |
Vesting
Commencement
Date
|
| |
Number of
Securities
Underlying
Unexercised
Options
Exercisable
|
| |
Number of
Securities
Underlying
Unexercised
Options
Unexercisable
|
| |
Option
Exercise
Price
($)
|
| |
Option
Expiration Date
|
| |
Number
of
Units
of Stock
That
Have Not
Vested
(#)
|
| |
Market
Value of
Units
of Stock
That
Have Not
Vested
($)(1)
|
Douglas Love, Esq.
|
| |
12/12/2014(2)
|
| |
37,994
|
| |
-
|
| |
1.41
|
| |
1/22/2025
|
| |
-
|
| |
-
|
|
6/8/2016(2)
|
| |
78,399
|
| |
-
|
| |
1.85
|
| |
8/11/2026
|
| |
-
|
| |
-
|
||
|
8/11/2016(2)
|
| |
36,050
|
| |
-
|
| |
1.85
|
| |
8/11/2026
|
| |
-
|
| |
-
|
||
|
12/12/2018(2)
|
| |
537,844
|
| |
-
|
| |
5.11
|
| |
1/22/2029
|
| |
-
|
| |
-
|
||
|
6/29/2020(3)
|
| |
362,513
|
| |
51,788
|
| |
13.30
|
| |
6/29/2030
|
| |
-
|
| |
-
|
||
|
2/25/2021(3)
|
| |
230,208
|
| |
94,792
|
| |
30.07
|
| |
2/25/2031
|
| |
-
|
| |
-
|
||
|
2/11/2022(3)
|
| |
146,666
|
| |
173,334
|
| |
6.94
|
| |
2/11/2032
|
| |
-
|
| |
-
|
||
|
2/11/2022(3)
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
26,667
|
| |
121,068
|
||
|
7/11/2022(3)
|
| |
141,666
|
| |
158,334
|
| |
3.91
|
| |
7/11/2032
|
| |
-
|
| |
-
|
||
|
2/16/2023(3)
|
| |
71,875
|
| |
273,125
|
| |
5.94
|
| |
2/16/2033
|
| |
-
|
| |
-
|
||
Ted Yednock, Ph.D.
|
| |
6/8/2016(2)
|
| |
32,974
|
| |
-
|
| |
1.85
|
| |
8/11/2026
|
| |
-
|
| |
27,500
|
|
8/11/2016(2)
|
| |
3,080
|
| |
-
|
| |
1.85
|
| |
8/11/2026
|
| |
-
|
| |
-
|
||
|
12/12/2018(2)
|
| |
67,939
|
| |
-
|
| |
5.11
|
| |
1/22/2029
|
| |
-
|
| |
-
|
||
|
6/29/2020(3)
|
| |
168,841
|
| |
24,121
|
| |
13.30
|
| |
6/29/2030
|
| |
-
|
| |
-
|
||
|
2/25/2021(3)
|
| |
81,458
|
| |
33,542
|
| |
30.07
|
| |
2/25/2031
|
| |
-
|
| |
-
|
||
|
2/11/2022(3)
|
| |
45,833
|
| |
54,167
|
| |
6.94
|
| |
2/11/2032
|
| |
-
|
| |
-
|
||
|
2/11/2022(4)
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
8,334
|
| |
37,836
|
||
|
7/11/2022(3)
|
| |
35,416
|
| |
39,584
|
| |
3.91
|
| |
7/11/2032
|
| |
-
|
| |
-
|
||
|
7/11/2022(4)
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
6,250
|
| |
28,375
|
||
|
2/16/2023(3)
|
| |
16,052
|
| |
60,998
|
| |
5.94
|
| |
2/16/2033
|
| |
-
|
| |
-
|
||
|
2/16/2023(4)
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
18,975
|
| |
86,147
|
||
Rick Artis, Ph.D.(5)
|
| |
12/12/2018(2)
|
| |
4,833
|
| |
-
|
| |
5.11
|
| |
1/22/2029
|
| |
-
|
| |
-
|
|
7/23/2020(3)
|
| |
18,904
|
| |
3,229
|
| |
17.00
|
| |
7/23/2030
|
| |
-
|
| |
-
|
||
|
2/25/2021(3)
|
| |
49,583
|
| |
20,417
|
| |
30.07
|
| |
2/25/2031
|
| |
-
|
| |
-
|
||
|
1/6/2023(6)
|
| |
-
|
| |
210,000
|
| |
6.84
|
| |
1/6/2033
|
| |
-
|
| |
-
|
(1)
|
Market value is calculated by multiplying $4.54, the closing trading price per share of our common stock as of December 31, 2023, by the number of unvested RSUs outstanding as of December 31, 2023.
|
(2)
|
The option is fully vested.
|
(3)
|
The option vests as to 1/48th of the shares in monthly installments measured from the vesting commencement date, subject to continued service to us through the vesting date.
|
(4)
|
The RSUs vest in three equal annual installments on each annual anniversary of the grant date, reflected under "vesting commencement date" above, and will vest in full on the third annual anniversary of the grant date, subject to continued service.
|
(5)
|
Dr. Artis served as our Senior Vice President, Chemistry from October 2016 to December 2021. From December 2021 up to the date of his rehire with us effective January 6, 2023 as Chief Scientific Officer, Dr. Artis served as an outside consultant. Stock and option awards reflected in this table include all outstanding equity awards granted to Dr. Artis throughout his employment or consulting relationship with us.
|
(6)
|
Twenty-five percent of the shares subject to the option will vest on the first anniversary of the vesting commencement date, and the remainder vests in thirty-six (36) equal monthly installments thereafter, subject to continued service to us through the vesting date.
|
TABLE OF CONTENTS
TABLE OF CONTENTS
TABLE OF CONTENTS
| | | | | | | | | |
Value of Initial
Fixed $100
Investment Based
on:
|
| | ||||||
Year
|
| |
Summary
Compensation
Table Total for
PEO
($)(1)(2)
|
| |
Compensation
Actually Paid to
PEO
($)(1)(3)
|
| |
Average Summary
Compensation Table
Total for Non-PEO
NEOs
($)(1)(2)
|
| |
Average
Compensation
Actually Paid to
Non-PEO NEOs
($)(1)(3)
|
| |
Total
Shareholder
Return
($)(4)
|
| |
Net Income (Loss)
($ Million)(5)
|
2023
|
| |
2,453,184
|
| |
1,202,088
|
| |
1,484,344
|
| |
1,064,962
|
| |
18.1
|
| |
(134)
|
2022
|
| |
3,582,434
|
| |
272,095
|
| |
1,418,551
|
| |
334,628
|
| |
20.7
|
| |
(142)
|
2021
|
| |
8,069,473
|
| |
(2,528,539)
|
| |
3,211,006
|
| |
(647,980)
|
| |
45.9
|
| |
(130)
|
(1)
|
The following individuals are our PEO and other non-PEO NEOs for each fiscal year:
|
Year
|
| |
PEO
|
| |
Non-PEO NEOs
|
2023
|
| |
Douglas Love
|
| |
Ted Yednock and Rick Artis
|
2022
|
| |
Douglas Love
|
| |
Jennifer Lew and Michael Overdorf
|
2021*
|
| |
Douglas Love
|
| |
Larry Mattheakis, Sanjay Keswani and Ted Yednock
|
*
|
Sanjay Keswani (formerly Chief Medical Officer) and Larry Mattheakis (formerly Chief Scientific Officer) separated from the Company on February 23, 2022 and January 6, 2023, respectively.
|
(2)
|
Represents the amount of total compensation reported for Douglas Love (our Chief Executive Officer) and the average total compensation for our non-PEO NEOs for each corresponding year in the "Total" column of the Summary Compensation Table. Refer to "Executive Compensation-Summary Compensation Table."
|
(3)
|
Represents the amount of CAP to Douglas Love and the average amount of CAP to our Non-PEO NEOs, respectively, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to our NEOs during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the reported total compensation for each year to determine the CAP:.
|
| |
2021
|
| |
2022
|
| |
2023
|
||||||||||
| |
PEO
|
| |
Average Non-
PEO NEOs
|
| |
PEO
|
| |
Average Non-
PEO NEOs
|
| |
PEO
|
| |
Average Non-
PEO NEOs
|
|
Total Compensation as reported on the 2023 Summary Compensation Table ("SCT")
|
| |
8,069,473
|
| |
3,211,006
|
| |
3,582,434
|
| |
1,418,551
|
| |
2,453,184
|
| |
1,484,344
|
Less: Grant Date Fair Value of Equity Awards as reported in SCT(a)
|
| |
(7,231,250)
|
| |
(2,705,967)
|
| |
(2,660,448)
|
| |
(816,219)
|
| |
(1,473,062)
|
| |
(736,774)
|
Add: Year-End Fair Value of unvested Equity Awards Granted in the Year(b)
|
| |
1,618,995
|
| |
683,440
|
| |
2,146,847
|
| |
655,956
|
| |
846,371
|
| |
450,472
|
Add: Vesting date Fair Value of Awards Granted during the Year vested during the Year(b)
|
| |
879,088
|
| |
311,054
|
| |
405,612
|
| |
114,945
|
| |
166,151
|
| |
18,553
|
Add/(less): Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards as of Year End(b)
|
| |
(4,953,131)
|
| |
(1,879,419)
|
| |
(1,560,277)
|
| |
(621,084)
|
| |
(412,800)
|
| |
(76,252)
|
Add/(less): Year over Year Change in Fair Value of Equity Awards Granted in Prior Year vested in the Year(b)
|
| |
(911,714)
|
| |
(268,094)
|
| |
(1,642,073)
|
| |
(417,521)
|
| |
(377,757)
|
| |
(75,382)
|
TABLE OF CONTENTS
| |
2021
|
| |
2022
|
| |
2023
|
||||||||||
| |
PEO
|
| |
Average Non-
PEO NEOs
|
| |
PEO
|
| |
Average Non-
PEO NEOs
|
| |
PEO
|
| |
Average Non-
PEO NEOs
|
|
Add: Change in Fair Value of Awards Granted during Prior Year that were Forfeited during the Year as of Prior Year End
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
Add: Change in Fair Value of Option awards or Stock Awards modified during the Year
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
Total Adjustments
|
| |
(10,598,912)
|
| |
(3,858,986)
|
| |
(3,310,339)
|
| |
(1,083,923)
|
| |
(1,251,096)
|
| |
(419,382)
|
Compensation Actually Paid
|
| |
(2,528,539)
|
| |
(647,980)
|
| |
272,095
|
| |
334,628
|
| |
1,202,088
|
| |
1,064,962
|
(a)
|
The amounts reflect the aggregate grant-date fair value reported in the "Stock Awards" and "Option Awards" columns in the Summary Compensation Table for the applicable fiscal year.
|
(b)
|
The fair values of stock options included in the CAP to our PEO and the Average CAP to our NEOs are calculated at the required measurement dates, consistent with the approach used to value the awards at the grant date as described in our Annual Report on Form 10-K for the year ended December 31, 2023. Changes to the stock option fair values are based on the updated stock price at the respective measurement dates, in addition to updated expected option term, implied volatility of our stock over the updated expected option term, and risk-free rate assumptions. For all years presented, the meaningful increases or decreases in the year-end stock option fair value from the fair value on the grant date were primarily driven by changes in the stock price.
|
(4)
|
The amounts reflect the cumulative total shareholder return of our common stock at the end of each fiscal year. In each case, assume an initial investment of $100 on December 31, 2020.
|
(5)
|
The dollar amounts reported represent the net income reflected in the Company's audited financial statements for the applicable year.
|
TABLE OF CONTENTS
Plan Category
|
| |
Number of
Securities to be
Issued Upon
Exercise of
Outstanding
Options, Warrants
and Rights
(a)
|
| |
Weighted-
Average
Exercise
Price of
Outstanding
Options,
Warrants
and Rights
(b)
|
| |
Number of
Securities Remaining
Available for Future
Issuance under Equity
Compensation Plans
(Excluding Securities
Reflected in Column
(a)) (c)
|
Equity compensation plans approved by security holders(1)
|
| |
8,462,633(3)
|
| |
11.18(4)
|
| |
3,326,721(5)
|
Equity compensation plans not approved by security holders(2)
|
| |
1,241,916
|
| |
4.68
|
| |
758,084
|
Total
|
| |
9,704,549
|
| |
10.31
|
| |
4,084,805
|
(1)
|
Consists of the 2011 Equity Incentive Plan (the "2011 Plan"), the 2020 Incentive Award Plan (the "2020 Plan"), and the Employee Stock Purchase Plan (the "ESPP").
|
(2)
|
Consists of the 2022 Employment Inducement Plan (the "2022 Inducement Plan"). The 2022 Inducement Plan was adopted by the Board without stockholder approval pursuant to Nasdaq Marketplace Rule 5635(c)(4), or Rule 5635(c)(4). In accordance with Rule 5635(c)(4), awards made under the 2022 Inducement Plan may only be granted to newly hired employees as an inducement material to the employees entering into employment with the Company. Awards granted under the 2022 Inducement Plan expire no later than ten years from the date of grant. An aggregate of 2,000,000 shares of common stock were reserved for issuance under the 2022 Inducement Plan.
|
(3)
|
Consists of 2,068,635 shares of common stock underlying outstanding options under the 2011 Plan, 5,898,419 shares of common stock underlying outstanding options under the 2020 Plan, and 495,579 shares of common stock underlying unvested RSUs under the 2020 Plan. Does not include approximately 16,916 shares that may be issued with respect to the purchase period in effect as of December 31, 2023 under the ESPP, which purchase period ends on May 15, 2024, based on enrollment as of December 31, 2023 and assuming a purchase price of $5.49 (which was the closing price of our common stock as of March 1, 2024).
|
(4)
|
Represents the weighted-average exercise price of outstanding options. Because RSUs do not have an exercise price, the weighted-average exercise price does not take into account outstanding RSUs.
|
(5)
|
Includes 1,988,340 shares of common stock available for issuance under the 2020 Plan, and 1,338,381 shares available for issuance under the ESPP as of December 31, 2023. In connection with the effectiveness of the 2020 Plan in July 2020, no further grants are made under the 2011 Plan.
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•
|
transaction from which the director derives an improper personal benefit;
|
•
|
act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;
|
•
|
unlawful payment of dividends or redemption of shares; or
|
•
|
breach of a director's duty of loyalty to the corporation or its stockholders.
|
Name
|
| |
Fees
Earned or
Paid in Cash
($)
|
| |
Option Awards
($)(1)
|
| |
All Other
Compensation
($)
|
| |
Total
$
|
Jung E. Choi
|
| |
52,500
|
| |
48,427
|
| |
-
|
| |
100,927
|
Bettina M. Cockroft, M.D.
|
| |
52,500
|
| |
48,427
|
| |
-
|
| |
100,927
|
Muneer A. Satter
|
| |
55,500
|
| |
48,427
|
| |
-
|
| |
103,927
|
Thomas G. Wiggans
|
| |
84,000
|
| |
48,427
|
| |
-
|
| |
132,427
|
William H. Carson, M.D.
|
| |
55,000
|
| |
48,427
|
| |
-
|
| |
103,427
|
William D. Waddill
|
| |
55,000
|
| |
48,427
|
| |
-
|
| |
103,427
|
(1)
|
The amounts in the "Option Awards" column reflect the aggregate grant date fair value of stock options granted during the calendar year computed in accordance with the provisions of ASC 718, Compensation-Stock Compensation. The assumptions that we used to calculate these amounts are discussed in Note 7 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. These amounts may not reflect the actual economic value that will be realized by the non-employee director upon the exercise of the stock options, or the sale of the common stock acquired upon such exercise.
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Name
|
| |
Options
Outstanding
as of Fiscal
Year-End
(Exercisable
and
Unexercisable)
(#)
|
Jung E. Choi
|
| |
94,322
|
Thomas G. Wiggans
|
| |
89,745
|
William H. Carson, M.D.
|
| |
78,000
|
Bettina M. Cockroft, M.D.
|
| |
68,000
|
William D. Waddill
|
| |
68,000
|
Muneer A. Satter
|
| |
58,000
|
•
|
Each non-employee director receives an annual cash retainer in the amount of $40,000 per year.
|
•
|
The non-executive chair receives an additional annual cash retainer in the amount of $32,500 per year ($35,000 per year under the Amended Director Compensation Program).
|
•
|
The chair of the Audit Committee receives additional annual cash compensation in the amount of $15,000 per year for such chair's service on the Audit Committee ($20,000 per year under the Amended Director Compensation Program). Each non-chair member of the Audit Committee receives additional annual cash compensation in the amount of $7,500 per year for such member's service on the Audit Committee ($10,000 per year under the Amended Director Compensation Program).
|
•
|
The chair of the Compensation Committee receives additional annual cash compensation in the amount of $12,000 per year for such chair's service on the Compensation Committee. Each non-chair member of the Compensation Committee receives additional annual cash compensation in the amount of $6,000 per year for such member's service on the Compensation Committee.
|
•
|
The chair of the Nominating and Corporate Governance Committee receives additional annual cash compensation in the amount of $10,000 per year for such chair's service on the Nominating and Corporate Governance Committee. Each non-chair member of the Nominating and Corporate Governance Committee receives additional annual cash compensation in the amount of $5,000 per year for such member's service on the Nominating and Corporate Governance Committee.
|
•
|
The chair of the Science and Technology Committee receives additional annual cash compensation in the amount of $10,000 per year for such chair's service on the Science and Technology Committee ($12,000 per year under the Amended Director Compensation Program). Each non-chair member of the Science and Technology Committee receives additional annual cash compensation in the amount of $5,000 per year for such member's service on the Science and Technology Committee ($6,000 per year under the Amended Director Compensation Program).
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Name(1)
|
| |
Total
Shares
Purchased
(#)
|
| |
Pre-Funded
Warrants
(#)
|
| |
Common
Warrants
(#)
|
| |
Aggregate
Purchase
Price
($)
|
Entities affiliated with Bain Capital Life Sciences, LLC(2)
|
| |
360,298
|
| |
2,739,475
|
| |
774,943
|
| |
11,997,257
|
Alerce Medical Technology Partners, L.P.(3)
|
| |
2,453,988
|
| |
-
|
| |
613,497
|
| |
9,500,001
|
Entities affiliated with Fairmount Healthcare Fund(4)
|
| |
1,291,572
|
| |
-
|
| |
322,893
|
| |
4,999,998
|
Redmile Group, LLC(5)
|
| |
-
|
| |
19,373,587
|
| |
4,843,396
|
| |
74,980,625
|
Venrock and affiliated entities(6)
|
| |
1,291,573
|
| |
2,583,144
|
| |
698.679
|
| |
14,997,415
|
Adage Capital Partners L.P.(7)
|
| |
2,583,145
|
| |
-
|
| |
645,786
|
| |
10,000,000
|
(1)
|
For additional information regarding certain of these stockholders and their equity holdings, see the section titled "Security Ownership of Certain Beneficial Owners and Management."
|
(2)
|
Entities affiliated with Bain Capital Life Sciences, LLC beneficially owned more than 5% of our capital stock at the time of the 2022 Financing.
|
(3)
|
Trusts and other entities affiliated with Muneer A. Satter beneficially owned (in the aggregate) more than 5% of our outstanding capital stock at the time of the 2022 Financing. Mr. Satter is currently, and was at the time of the 2022 Financing, a member of our Board. Mr. Satter was designated to serve as a member of our Board by trusts and other entities affiliated with Mr. Satter. Mr. Satter is the founder and managing partner of Alerce Medical Technology Partners, L.P. (previously Satter Medical Technology Partners, L.P.) and Chairperson of Satter Investment Management LLC. Mr. Satter also manages the Satter Foundation.
|
(4)
|
Entities affiliated with Fairmount Healthcare Funds beneficially owned more than 5% of our capital stock at the time of the 2022 Financing .
|
(5)
|
Entities affiliated with Redmile Group, LLC beneficially owned more than 5% of our capital stock at the time of the 2022 Financing .
|
(6)
|
Venrock and affiliated entities beneficially owned more than 5% of our capital stock following the 2022 Financing .
|
(7)
|
Adage Capital Partners L.P. beneficially owned more than 5% of our capital stock following the 2022 Financing .
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By Order of the Board of Directors
|
|
| | ||
| |
|
|
| | ||
| |
Douglas Love
|
|
| |
President and Chief Executive Officer
|
|
| | ||
| |
April 25, 2024
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