Company: DNLI
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001714899-25-000087
Chunk: 21

Company: Denali Therapeutics Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 21
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 be considered independent for purposes of Rule 10C-1 and under the Nasdaq rules, the board of directors must affirmatively determine that the member of the compensation committee is independent, including a consideration of all factors specifically relevant to determining whether the director has a relationship to the company which is material to that director’s ability to be independent from management in connection with the duties of a compensation committee member, including, but not limited to: (i) the source of compensation of such director, including any consulting, advisory or other compensatory fee paid by the company to such director; and (ii) whether such director is affiliated with the company, a subsidiary of the company or an affiliate of a subsidiary of the company.

Our board of directors has undertaken a review of its composition, the composition of its committees, and the independence of our directors and considered whether any director has a material relationship with us that could compromise his or her ability to exercise independent judgment in carrying out his or her responsibilities. Based upon information requested from and provided by each director concerning his background, employment, and affiliations, including family relationships, our board of directors has determined that none of Mses. Cook and Thornberry, Messrs. Flatley, Harris, and Klein, and Drs. Sato, Schenkein and Tessier-Lavigne, representing eight of our ten current directors, nor Mr. Baker, representing our new director nominee, have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director, and that each of these directors and director nominees is “independent” as that term is defined under the Nasdaq rules. Dr. Watts, our Chief Executive Officer, and Mr. Krognes, our former Chief Financial Officer, are not considered independent under Nasdaq’s independence standards. However, we expect that Mr. Krognes will become independent on May 1, 2025, three years after he ceased serving as our Chief Financial Officer. Our board of directors also determined that Messrs. Klein (chairperson), Flatley, and Harris, who comprise our audit committee, and Messrs. Flatley (chairperson) and Klein and Ms. Thornberry, who comprise our compensation committee, satisfy the independence standards for committee members established by applicable SEC rules and the Nasdaq listing standards. Effective as of the Annual Meeting, Mr. Krognes will join our audit committee.

In making these determinations, our board of directors considered the current and prior relationships that each non-employee director has with