Company: DNLI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001714899-25-000193
Chunk: 388

Company: Denali Therapeutics Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part II, Item 1A
Chunk 388
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Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as defined in Regulation S-K Item 408, during the third quarter ended September 30, 2025.

Increase in Size of Board; Appointment of New Director

On November 4, 2025, the Company's Board of Directors ("Board") increased the size of the Board from eight members to nine members and appointed Tim Van Hauwermeiren to serve as a Class I director, with a term expiring at the Company’s 2027 annual meeting of the stockholders. 

In accordance with the Company’s amended outside director compensation policy (the “Policy”), Mr. Van Hauwermeiren will receive annual cash compensation of $50,000 for his services as a member of the Board, payable quarterly in arrears on a pro-rata basis, and on November 4, 2025, Mr. Van Hauwermeiren was automatically granted an initial award of a nonstatutory stock option to purchase shares of the Company’s common stock and an initial award RSU, together having an aggregate company-assessed value of approximately $700,000. 60% of the value of the initial awards is in the Initial Option, while the remaining 40% is in the Initial RSU. For purposes of the Policy, the Company values RSUs as 1 RSU for every 2 shares subject to an option. The Initial Option vests as to 25% of the shares on the one-year anniversary of the grant date and as to 1/48th of the shares on each monthly anniversary of the grant date thereafter, provided that he remains a non-employee director through the applicable vesting date. The Initial RSU award vests over a four-year period, with 1/4th of the shares vesting on each anniversary of the grant date (or, for the last tranche that otherwise would vest on the fourth anniversary of the grant date, on such anniversary or, if earlier, on the day prior to the Company’s next annual meeting of stockholders occurring after the third anniversary of the grant date), provided that he remains a non-employee director through the applicable vesting date. Initial awards to Mr. Van Hauwermeiren were granted under and subject to terms of the Company’s 2017 Equity Incentive Plan.

Mr. Van Hauwermeiren will be eligible for equity awards on the same terms as other continuing non-employee