Company: ANTX
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0000950170-25-052852
Chunk: 39

Company: AN2 Therapeutics, Inc.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 39
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 automatically increase on the first day of each fiscal year beginning with the 2023 fiscal year (for a period of up to ten years), in an amount equal to four percent (4%) of the outstanding shares of common stock on the last day of the immediately preceding fiscal year; provided that the Board (or any of its committees as will be administering the 2022 Plan) may act prior to January 1 st of a given year to provide that the increase for such year will be a lesser number of shares of our common stock. Pursuant to these terms, an additional 1,196,785 shares were added to the number of available shares under the 2022 Plan effective January 1, 2025.

The 2022 ESPP provides that the number of shares available for issuance under the 2022 ESPP will automatically increase on the first day of each fiscal year beginning in 2023 (for a period of up to ten years) in an amount equal to the lesser of (i) one percent (1%) of the total number of outstanding shares of common stock on the last day of the immediately preceding fiscal year, and (ii) 561,000 shares of common stock. Notwithstanding the foregoing, the Board (or any of its committees as will be administering the 2022 ESPP) may act prior to January 1 st of a given year to provide that there will be no January 1 st increase for such calendar year or the increase for such calendar year will be a lesser number of shares of our common stock. Pursuant to these terms, an additional 299,196 shares were added to the number of available shares under the 2022 ESPP effective January 1, 2025. The number of shares that may be issued under the 2022 ESPP in the purchase period that includes December 31, 2024 based on the number of participants and the contribution rates through March 31, 2025 is 42,797 shares.

Indemnification

We have entered into an indemnification agreement with each of our directors and executive officers. The indemnification agreements and our certificate of incorporation and bylaws require us to indemnify our directors and executive officers to the fullest extent permitted by Delaware law. See “Certain Relationships and Related Person Transactions – Transactions and Relationships with Directors, Officers and 5% Stockholders – Indemnification of Officers and Directors.”

Equity Grant Practices We do not grant equity awards in anticipation of the release of material nonpublic information or time