|
/s/ Dinesh V. Patel
Dinesh V. Patel, Ph.D.
President and Chief Executive Officer |
| | | |
Proposal
Number |
| |
Proposal Description
|
| |
Vote Required for Approval
|
| |
Effect of
Abstentions |
| |
Effect of
Broker Non-Votes |
|
1 | | | Election of Directors | | |
Nominees receiving the most “For” votes; withheld votes will have no effect.
|
| | Under plurality voting, there are no abstentions. | | | None | |
2 | | |
Advisory approval of the compensation of our named executive officers
|
| |
“For” votes from the holders of a majority of shares present online during the virtual meeting or represented by proxy and entitled to vote on the matter.
|
| | Against | | | None | |
3 | | |
Recommendation of the frequency of future executive compensation votes
|
| |
The frequency period receiving the most votes will be considered the recommendation of stockholders.
|
| | No effect | | | None | |
4 | | |
Ratification of the selection of Ernst & Young LLP as the Company’s independent auditor for fiscal year ending December 31, 2022
|
| |
“For” votes from the holders of a majority of shares present online during the virtual meeting or represented by proxy and entitled to vote on the matter.
|
| | Against | | | None | |
Name
|
| |
Audit
|
| |
Compensation
|
| |
Nominating and
Corporate Governance |
| |||||||||
Bryan Giraudo
|
| | | | X | | | | | | — | | | | | | X* | | |
Sarah Noonberg, M.D., Ph.D
|
| | | | X | | | | | | — | | | | | | — | | |
Sarah A. O’Dowd
|
| | | | — | | | | | | — | | | | | | X | | |
Dinesh V. Patel, Ph.D
|
| | | | — | | | | | | — | | | | | | — | | |
Harold E. Selick, Ph.D
|
| | | | — | | | | | | X* | | | | | | X | | |
William D. Waddill
|
| | | | X* | | | | | | X | | | | | | — | | |
Lewis T. Williams, M.D., Ph.D
|
| | | | — | | | | | | X | | | | | | — | | |
Total meetings in fiscal 2021
|
| | | | 6 | | | | | | 5 | | | | | | 2 | | |
Board Diversity Matrix
(as of April 13) |
| ||||||||||||||||||||||||
Total number of directors – 7
|
| | | | | | | | | | | | | | | | | | | | |||||
Gender identity:
|
| |
Female
|
| |
Male
|
| |
Non-
Binary |
| |
Did not
Disclose Gender |
| ||||||||||||
Directors
|
| | |
|
2
|
| | | |
|
5
|
| | | | | — | | | | | | — | | |
Number of directors who identify in any of the categories below: | | | | | | | | | | | | | | | | | | | | | | | | | |
African American or Black
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Alaskan Native or Native American
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Asian
|
| | | | — | | | | |
|
1
|
| | | | | — | | | | | | — | | |
Hispanic or Latinx
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Native Hawaiian or Pacific Islander
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
White
|
| | |
|
2
|
| | | |
|
4
|
| | | | | — | | | | | | — | | |
Two or More Races or Ethnicities
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
LGBTQ+
|
| |
—
|
|
| | |
Fiscal Year Ended
December 31, |
| |||||||||
| | |
2021
|
| |
2020
|
| ||||||
Audit Fees(1)
|
| | | $ | 1,507,376 | | | | | $ | 860,675 | | |
Audit-Related Fees(2)
|
| | | | — | | | | | | — | | |
Tax Fees(3)
|
| | | | 27,605 | | | | | | 80,798 | | |
All Other Fees(4)
|
| | | | — | | | | | | — | | |
Total Fees
|
| | | $ | 1,534,981 | | | | | $ | 941,473 | | |
Name
|
| |
AUD: USD
|
| |
AUD
|
| |
USD
|
| |||||||||
2021 Average
|
| | | | 1.00:0.75144 | | | | | $ | 26,000 | | | | | $ | 19,538 | | |
2020 Average
|
| | | | 1.00:0.70348 | | | | | $ | 114,855 | | | | | $ | 80,798 | | |
Name
|
| |
Age
|
| |
Position
|
|
Dinesh V. Patel, Ph.D..
|
| |
65
|
| | President, Chief Executive Officer and Director | |
David Y. Liu, Ph.D.
|
| |
71
|
| |
Chief Research & Development Strategy Officer
|
|
Suneel Gupta, Ph.D.
|
| |
64
|
| | Chief Development Officer | |
Asif Ali(1)
|
| |
48
|
| |
Executive Vice President, Chief Financial Officer
|
|
| | |
Beneficial Ownership(1)
|
| |||||||||
Beneficial Owner
|
| |
Number of Shares
|
| |
Percent of Total
|
| ||||||
5% Stockholders: | | | | | | | | | | | | | |
FMR LLC(2)
|
| | | | 6,847,277 | | | | | | 14.1% | | |
Biotechnology Value Fund, L.P. and its affiliated entities(3)
|
| | | | 4,983,759 | | | | | | 10.3% | | |
Farallon Partners, L.L.C.(4)
|
| | | | 3,417,134 | | | | | | 7.0% | | |
BlackRock, Inc.(5)
|
| | | | 3,281,636 | | | | | | 6.8% | | |
RTW Investments, LP(6)
|
| | | | 2,599,822 | | | | | | 5.4% | | |
State Street Corporation(7)
|
| | | | 2,571,570 | | | | | | 5.3% | | |
Johnson & Johnson Development Corporation(8)
|
| | | | 2,449,183 | | | | | | 5.0% | | |
Point 72 Asset Management, L.P. and its affiliated entities(9)
|
| | | | 2,420,309 | | | | | | 5.0% | | |
Named Executive Officers and Directors: | | | | | | | | | | | | | |
Dinesh V. Patel, Ph.D.(10)
|
| | | | 1,457,952 | | | | | | 2.9% | | |
Suneel Gupta, Ph.D.(11)
|
| | | | 250,327 | | | | | | * | | |
David Y. Liu, Ph.D.(12)
|
| | | | 411,000 | | | | | | * | | |
Harold E. Selick, Ph.D.(13)
|
| | | | 128,020 | | | | | | * | | |
Bryan Giraudo(14)
|
| | | | 81,000 | | | | | | * | | |
Sarah Noonberg, M.D., Ph.D.(15)
|
| | | | 54,600 | | | | | | * | | |
Sarah A. O’Dowd(16)
|
| | | | 17,500 | | | | | | * | | |
William D. Waddill(17)
|
| | | | 87,975 | | | | | | * | | |
Lewis T. Williams, M.D., Ph.D.(18)
|
| | | | 63,000 | | | | | | * | | |
All executive officers and directors as a group (10 persons)(19)
|
| | | | 2,675,518 | | | | | | 5.3% | | |
Name and Principal Position
|
| |
Year
|
| |
Salary
($)(1) |
| |
Stock
Awards ($)(2)(3) |
| |
Option
Awards ($)(2) |
| |
Non-Equity
Incentive Plan Compensation ($)(4) |
| |
All Other
Compensation ($)(5) |
| |
Total
($) |
| |||||||||||||||||||||
Dinesh V. Patel, Ph.D.
President and Chief Executive Officer |
| | | | 2021 | | | | | | 600,000 | | | | | | 589,250 | | | | | | 3,919,365 | | | | | | 429,000 | | | | | | 7,118 | | | | | | 5,544,733 | | |
| | | 2020 | | | | | | 565,000 | | | | | | — | | | | | | 1,183,155 | | | | | | 473,894 | | | | | | 3,573 | | | | | | 2,225,622 | | | ||
David Y. Liu, Ph.D.
Chief Research and Development Strategy Officer(6) |
| | | | 2021 | | | | | | 455,000 | | | | | | 235,700 | | | | | | 1,132,261 | | | | | | 233,188 | | | | | | 14,678 | | | | | | 2,070,827 | | |
| | | 2020 | | | | | | 441,300 | | | | | | — | | | | | | 352,429 | | | | | | 266,987 | | | | | | 11,133 | | | | | | 1,071,849 | | | ||
Suneel Gupta, Ph.D
Chief Development Officer |
| | | | 2021 | | | | | | 455,000 | | | | | | 282,840 | | | | | | 1,393,552 | | | | | | 236,600 | | | | | | 7,118 | | | | | | 2,375,110 | | |
| | | 2020 | | | | | | 420,000 | | | | | | — | | | | | | 427,950 | | | | | | 256,200 | | | | | | 4,120 | | | | | | 1,108,270 | | |
Name
|
| |
2021 Base
Salary ($) |
| |
Target
Bonus (as a % of base salary) |
| |
Amount of Bonus
Earned ($) |
| |||||||||
Dinesh V. Patel, Ph.D
|
| | | | 600,000 | | | | | | 55% | | | | | | 429,000 | | |
David Y. Liu, Ph.D.
|
| | | | 455,000 | | | | | | 40% | | | | | | 233,188 | | |
Suneel Gupta, Ph.D
|
| | | | 455,000 | | | | | | 40% | | | | | | 236,600 | | |
| | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Equity Incentive
Incentive Plan Awards: |
| |||||||||
| | |
Grant
Date |
| |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| |
Option
Exercise Price ($) |
| |
Vesting
Commencement Date |
| |
Option
Expiration Date |
| |
Number of
Shares or Units of Stock That Have Not Vested (#) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested ($) |
| |
Number of
Unearned Shares, Units or Other Rights That Have Not Vested (#) |
| |
Market or
Payout Value of Unearned Shares, Units or Other Rights That Have Not Yet Vested ($) |
| ||||||||||||||||||||||||||||||
Dinesh V. Patel, Ph.D.
|
| | | | 10/22/2014(1) | | | | | | 34,087 | | | | | | — | | | | | $ | 1.89 | | | | | | 11/01/2014 | | | | | | 10/21/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 04/29/2016(2) | | | | | | 125,742 | | | | | | — | | | | | $ | 4.21 | | | | | | 04/25/2016 | | | | | | 04/28/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 10/11/2016(2) | | | | | | 320,000 | | | | | | — | | | | | $ | 21.58 | | | | | | 08/10/2016 | | | | | | 10/10/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 02/28/2018(2)(3) | | | | | | 143,750 | | | | | | 6,250 | | | | | $ | 16.95 | | | | | | 02/28/2018 | | | | | | 02/27/2028 | | | | | | 6,250 | | | | | | 213,750 | | | | | | — | | | | | | — | | | ||
| | | 08/15/2018(4) | | | | | | 54,700 | | | | | | — | | | | | $ | 8.58 | | | | | | 08/05/2018 | | | | | | 08/14/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 02/28/2019(2)(3) | | | | | | 122,187 | | | | | | 50,313 | | | | | $ | 8.02 | | | | | | 02/28/2019 | | | | | | 02/27/2029 | | | | | | 14,376 | | | | | | 491,659 | | | | | | — | | | | | | — | | | ||
| | | 02/28/2020(2) | | | | | | 107,708 | | | | | | 127,292 | | | | | $ | 7.80 | | | | | | 02/28/2020 | | | | | | 02/27/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 02/26/2021(2)(5)(6) | | | | | | 46,875 | | | | | | 178,125 | | | | | $ | 23.57 | | | | | | 02/26/2021 | | | | | | 02/25/2031 | | | | | | 25,000 | | | | | | 855,000 | | | | | | 25,000 | | | | | | 855,000 | | | ||
David Y. Liu, Ph.D.
|
| | | | 09/26/2013(1) | | | | | | 13,767 | | | | | | — | | | | | $ | 0.87 | | | | | | 06/01/2013 | | | | | | 09/25/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 10/22/2014(1) | | | | | | 9,726 | | | | | | — | | | | | $ | 1.89 | | | | | | 11/01/2014 | | | | | | 10/21/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 03/26/2015(2) | | | | | | 5,999 | | | | | | — | | | | | $ | 1.89 | | | | | | 03/26/2015 | | | | | | 03/25/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 10/28/2015(2) | | | | | | 36,656 | | | | | | — | | | | | $ | 1.16 | | | | | | 09/01/2015 | | | | | | 10/27/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 04/29/2016(2) | | | | | | 35,331 | | | | | | — | | | | | $ | 4.21 | | | | | | 04/25/2016 | | | | | | 04/28/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 10/11/2016(2) | | | | | | 65,000 | | | | | | — | | | | | $ | 21.58 | | | | | | 08/10/2016 | | | | | | 10/10/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 02/28/2018(2)(3) | | | | | | 54,145 | | | | | | 2,355 | | | | | $ | 16.95 | | | | | | 02/28/2018 | | | | | | 02/27/2028 | | | | | | 2,375 | | | | | | 81,225 | | | | | | — | | | | | | — | | | ||
| | | 08/15/2018(4) | | | | | | 17,200 | | | | | | — | | | | | $ | 8.58 | | | | | | 08/05/2018 | | | | | | 08/14/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 02/28/2019(2)(3) | | | | | | 63,750 | | | | | | 26,250 | | | | | $ | 8.02 | | | | | | 02/28/2019 | | | | | | 02/27/2029 | | | | | | 7,500 | | | | | | 256,500 | | | | | | — | | | | | | — | | | ||
| | | 02/28/2020(2) | | | | | | 32,083 | | | | | | 37,917 | | | | | $ | 7.80 | | | | | | 02/28/2020 | | | | | | 02/27/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 02/26/2021(2)(5)(6) | | | | | | 13,541 | | | | | | 51,459 | | | | | $ | 23.57 | | | | | | 02/26/2021 | | | | | | 02/25/2031 | | | | | | 10,000 | | | | | | 342,000 | | | | | | 10,000 | | | | | | 342,000 | | | ||
Suneel Gupta, Ph.D.
|
| | | | 01/15/2019(1) | | | | | | 80,208 | | | | | | 29,792 | | | | | $ | 7.38 | | | | | | 01/07/2019 | | | | | | 01/14/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 02/28/2019(2)(3) | | | | | | 31,875 | | | | | | 13,125 | | | | | $ | 8.02 | | | | | | 02/28/2019 | | | | | | 02/27/2029 | | | | | | 3,750 | | | | | | 128,250 | | | | | | — | | | | | | — | | | ||
| | | 02/28/2020(2) | | | | | | 38,958 | | | | | | 46,042 | | | | | $ | 7.80 | | | | | | 02/28/2020 | | | | | | 02/27/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 02/26/2021(2)(5)(6) | | | | | | 16,666 | | | | | | 63,334 | | | | | $ | 23.57 | | | | | | 02/26/2021 | | | | | | 02/25/2031 | | | | | | 12,000 | | | | | | 410,400 | | | | | | 12,000 | | | | | | 410,400 | | |
Name
|
| |
Fees Earned or
Paid in Cash ($) |
| |
Option
Awards ($)(1)(2) |
| |
Total
($) |
| |||||||||
Bryan Giraudo
|
| | | | 60,000 | | | | | | 448,011 | | | | | | 508,011 | | |
Sarah Noonberg, M.D., Ph.D.
|
| | | | 50,000 | | | | | | 448,011 | | | | | | 498,011 | | |
Sarah A. O’Dowd
|
| | | | 45,000 | | | | | | 448,011 | | | | | | 493,011 | | |
Harold E. Selick, Ph.D
|
| | | | 95,000 | | | | | | 448,011 | | | | | | 543,011 | | |
William D. Waddill
|
| | | | 67,500 | | | | | | 448,011 | | | | | | 515,511 | | |
Lewis T. Williams, M.D., Ph.D.
|
| | | | 47,500 | | | | | | 448,011 | | | | | | 494,511 | | |
Name
|
| |
Aggregate Number of
Option Awards Outstanding as of December 31, 2021 |
| |||
Bryan Giraudo
|
| | | | 81,000 | | |
Sarah Noonberg, M.D., Ph.D.
|
| | | | 72,600 | | |
Sarah A. O’Dowd
|
| | | | 48,000 | | |
Harold E. Selick, Ph.D
|
| | | | 130,710 | | |
William D. Waddill
|
| | | | 105.975 | | |
Lewis T. Williams, M.D. Ph.D
|
| | | | 81,000 | | |
Plan Category(1)
|
| |
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(6) (b) |
| |
Number of securities
remaining available for issuance under equity compensation plans (excluding securities reflected in column (a)) (c) |
| |||||||||
Equity compensation plans approved by securities holders:
|
| | | | | | | | | | | | | | | | | | |
2007 Stock Option and Incentive Plan
|
| | | | 396,401(3) | | | | | $ | 3.35 | | | | | | — | | |
2016 Equity Incentive Plan
|
| | | | 5,095,361(4) | | | | | $ | 18.19 | | | | | | 564,189(7) | | |
2016 Employee Stock Purchase Plan
|
| | | | — | | | | | | — | | | | | | 1,013,999(8) | | |
Equity compensation plans not approved by securities holders:
|
| | | | | | | | | | | | | | | | | | |
2018 Inducement Plan(2)
|
| | | | 910,250(5) | | | | | $ | 21.32 | | | | | | 243,125 | | |
Total
|
| | | | 6,402,012 | | | | | $ | 17.66 | | | | | | 1,821,313 | | |
|
/s/ Dinesh V. Patel
Dinesh V. Patel, Ph.D.
President and Chief Executive Officer |
| | | |