Company: ANIX
Filing Date: 2025-02-06
Form Type: DEF 14A
Source: 0001493152-25-005199
Chunk: 35

Company: Anixa Biosciences Inc
Filing Date: 2025-02-06
Form: DEF 14A
Chunk 35
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 NEO compensation is dependent upon our net loss, SEC rules require that net income/loss be 
 presented as a performance measure in this table.                                                                                  |

| (5) | As a pre-revenue biotechnology                                                                                                           
 company, we have implemented a business model that conserves funds by collaborating with third parties to develop our technologies.      
 As a result, at this stage in our corporate life-cycle, there is no single financial performance measure that our Compensation Committee 
 uses when considering annual compensation for our NEOs. Instead, the Compensation Committee focuses on a variety of factors including    
 the progress of development of our various technologies, our level of operating expenses and our cash position. After discussion         
 with our Compensation Committee, and given the relative weight that the Compensation Committee affords each of these factors and         
 our unique business model, we have elected not to include a “Company-Selected Measure” at this time. We will continue                    
 to assess this decision in consultation with our Compensation Committee on a forward looking basis and will include a “Company-Selected  
 Measure” when our Compensation Committee deems it appropriate.                                                                           |

Relationship between CAP and Performance Measures

In accordance with Item 402(v) requirements, we are providing the following charts to describe the relationships between CAP to our NEOs and our financial performance, in each case presented in the charts below: 1) TSR of both the Company and our peer group and 2) Net Loss.

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Chart 1: Compensation Actually Paid versus TSR

Chart 2: Compensation Actually Paid versus Net Loss

Director Compensation

On December 15, 2023, after a review of non-employee director compensation at comparable companies, the Compensation Committee approved cash compensation of directors, and on January 12, 2024, approved equity compensation of directors. Commencing in January 2024, each non-employee director received cash compensation of $95,000 paid in four quarterly installments, and the grant of a 10 year nonqualified stock option to purchase 25,000 shares of common stock exercisable at $2.37, such option vesting monthly over a one year period. Our employee director, Dr. Amit Kumar, did not receive any additional compensation for services provided as a director during fiscal year 2024.

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The following table sets forth compensation of Lewis H. Titterton, Jr., Dr. Arnold Baskies, and Emily Gottschalk, our non-employee directors, during fiscal year 2024:

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