Company: FENC
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001558370-25-005563
Chunk: 38

Company: FENNEC PHARMACEUTICALS INC.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 38
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 Committee shall receive an additional annual fee of $15,000. These annual base retainer and annual cash fees are to be paid quarterly and are in lieu of any per-meeting fees. Board members shall also be reimbursed for any out-of-pocket expenses for attending Board or Committee meetings or any other meeting at the Corporation’s request. Mr. Raykov did not receive any fees for sitting on the Board in 2024. OTHER INFORMATION 2020 Equity Incentive Plan On June 22, 2020, Fennec’s shareholders approved our 2020 Equity Incentive Plan (the “ Equity Incentive Plan”), which replaced our prior stock option plan which was last approved by our shareholders on June 19, 2019 (the “ Prior Plan”). Options granted under the Prior Plan continue to be governed by the terms of the Prior Plan. The total number of Common Shares that may be the subject of awards and issued under the Equity Incentive Plan, together with the Prior Plan (collectively, the “ Plans”), is twenty-five percent (25%) of the total number of all issued and outstanding Common Shares from time to time. The Board believes that equity based incentive awards can play an important role in the success of the Corporation by encouraging and enabling the employees, officers, non-employee directors and consultants of the Corporation and its subsidiaries upon whose judgment, initiative and efforts the Corporation largely depends for the successful conduct of its business to acquire a proprietary interest in the Corporation. The Board believes that providing such persons with a direct stake in the Corporation assures a closer identification of the interests of such individuals with those of the Corporation and its shareholders, thereby stimulating their efforts on the Corporation’s behalf and strengthening their desire to remain with the Corporation. The Equity Incentive Plan is designed to enhance the flexibility to grant different types of equity awards (i.e. not just stock options) to our officers, employees, non-employee directors and consultants and to ensure that we can continue to grant equity awards to eligible recipients at levels determined to be appropriate by the Board or the Compensation Committee, including greater flexibility in granting goal-based incentive compensation. As of April 7, 2025, options for an aggregate of 5,857,036 Common Shares have been granted and remain issued and outstanding under the Equity Incentive Plan or the Prior Plan, as applicable (representing approximately 21.2% of the currently issued and outstanding Common Shares). As of April 7, 2025, restricted share units for an aggregate of