Company: HCWB
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0000950170-25-058961
Chunk: 43

Company: HCW Biologics Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 43
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 Plan and the 2021 Plan. (2) Includes stock options outstanding under the 2019 Plan and the 2021 Plan as of December 31, 2024. The Company no longer makes grants under the 2019 Plan. (3) Includes 2,724,293 shares available for issuance under the 2021 Plan. The number of shares reserved for issuance under the 2021 Plan increased by 514,286 shares on January 1, 2025 and will increase automatically on January 1 of each year by a number of shares of common stock equal to the lesser of (i) 514,286 shares; (ii) 2% of the shares of common stock outstanding on the last day of the prior fiscal year; or (iii) such number of shares determined by our board of directors. This number will be subject to adjustment in the event of a stock split, stock dividend or other change in our capitalization. Note: This information is as of December 31, 2024 (pre-reverse stock split). On April 11, 2025, the Company effected a one-for-forty reverse stock split of its common stock. Our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024 that are incorporated by reference into this proxy are presented without giving effect to the reverse stock split.

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TABLE OF CONTENTS

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS In addition to the executive officer and director compensation arrangements discussed above under “Executive Compensation” and “Proposal One: Director Election-Director Compensation,” respectively, since January 1, 2023, the following are the only transactions or series of similar transactions to which we were or will be a party in which the amount involved exceeds the lesser of (i) $120,000 or (ii) 1% of the Company’s average total assets at year end for the last two completed fiscal years and in which any director, nominee for director, executive officer, beneficial holder of more than 5% of our capital stock or any member of their immediate family or any entity affiliated with any of the foregoing persons had or will have a direct or indirect material interest. Private Placement On February 20, 2024, we entered into subscription agreements with certain of our officers and directors, pursuant to which we sold an aggregate of 1,785,718 shares of our common stock, $0