Company: ANTX
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0000950170-25-052852
Chunk: 43

Company: AN2 Therapeutics, Inc.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 43
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-employee director on the applicable grant date by (ii) the average per share closing trading price of the Common Stock over the most recent 30 trading days as of the grant date, then multiplying the resulting number of shares by 1.1x. The Director Compensation Policy was also amended to allow, beginning for 2025, each non-employee director the opportunity to defer the issuance of the shares underlying the RSU awards that would otherwise be issued to the non-employee director in connection with the vesting or grant of the RSUs until the earliest of a fixed date properly elected by the non-employee director, the non-employee director’s termination of service or a change in control.

For 2025, we anticipate that the Board will modify the 2025 Director Annual Grant under the Director Compensation Policy to provide for a fixed number of shares to be granted in order to manage the share pool based on the recommendation of Aon.

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Pursuant to the 2022 Equity Incentive Plan, no non-employee director may be issued, in any fiscal year, cash compensation and equity awards with an aggregate value greater than $750,000 (or in the event such non-employee director is first appointed or elected to the Board during such fiscal year, $1,000,000). Any cash compensation paid or equity awards granted to an individual for his or her services as an employee, for his or her services as a consultant (other than as a non-employee director), will not count for purposes of this limitation.

Limitation of Liability and Indemnification

As permitted by Delaware law, our certificate of incorporation provides that the liability of directors and officers for monetary damages shall be eliminated to the fullest extent under applicable law. Delaware law prohibits our certificate of incorporation from limiting the liability of our directors and officers for the following:

Any breach of the director’s or officer's duty of loyalty to us or to our stockholders;

acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law;

unlawful payment of dividends or unlawful stock repurchases or redemptions; and

any transaction from which the director or officer derived an improper personal benefit.

Such limitation of liability does not apply to liabilities arising under federal securities laws and does not affect the availability of equitable remedies such as injunctive relief or rescission.

Our certificate of incorporation authorizes us to indemnify our directors, officers, employees and other agents to the fullest extent permitted by Delaware