Company: INKT
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-061041
Chunk: 22

Company: MiNK Therapeutics, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 22
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Narrative Disclosure to Summary Compensation Table Base Salary We are party to an employment agreement with Dr. Buell and, prior to his resignation in November 2024, we were party to an employment agreement with Dr. van Dijk. The employment agreement with each of Drs. Buell and van Dijk, described below, establishes (or established) an initial annual base salary for the respective named executive officer, which has subsequently been increased for each named executive officer. For 2024, the base salary for each of Drs. Buell and van Dijk was $448,000 and £270,000, respectively. For 2024, we did not pay any salary or annual bonus payments to Ms. Klaskin. However, a portion of the base salary paid to Ms. Klaskin by Agenus was allocated to her services to us, as is reflected in the Summary Compensation Table above. Annual Bonuses With respect to fiscal year 2024, Dr. Buell was eligible to receive an annual bonus, with the target amount of such bonus initially set forth in her employment agreement with us, described below. For fiscal year 2024, the target bonus amount, expressed as a percentage of base salary, for Dr. Buell was 50%. Given the financial position of the Company at the end of 2024, the Compensation Committee decided to postpone its review of the annual bonus payout for fiscal year 2024 for Dr. Buell until June 2025, and no such annual bonus determination has been made. Dr. van Dijk was not eligible for a bonus with respect to fiscal year 2024 due to his termination of employment during such year. In 2024, the corporate goals and objectives included: • Deliver clinical readouts from Phase 2 trials of INKT cells ± BOT/BAL in gastric cancer and INKT cells in ARDS, supporting late-stage development and regulatory engagement; • Extend cash runway for 24+ months by securing capital through partnerships, licensing, and sponsored programs to avoid shareholder dilution; • Scale a proprietary, GMP-compliant iNKT manufacturing platform with biologics-like efficiency, enabling both internal programs and potential out-licensing opportunities; • Advance next-generation iNKT-based combinations and engagers through internal research and strategic academic and industry partnerships; and • Elevate scientific and investor engagement through high-impact publications, medical congress presentations, and earned media visibility. Ms. Klaskin was not eligible to receive an annual bonus