Company: IOBT
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000950170-25-058699
Chunk: 15

Company: IO Biotech, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 15
---
 key functions of our board of directors is informed oversight of our risk management process. The board of directors administers this oversight function directly by presentation of matters to the board of directors as a whole, as well as through its standing committees that address risks inherent in their respective areas of oversight. In particular, our board of directors is responsible for monitoring and assessing strategic risk exposure. Our audit committee has the responsibility to consider and discuss our major financial risk exposures and the steps our management has taken to monitor and control these exposures, including guidelines and policies to govern the process by which risk assessment and management is undertaken. The audit committee also monitors compliance with legal and regulatory requirements, in addition to oversight of the performance of our external audit function and cybersecurity matters. Our nominating and corporate governance committee monitors the effectiveness of our Corporate Governance Guidelines and risks associated with our governance practices, including those related to emerging topics such as human capital analysis and disclosures and the Company’s environmental, sustainability and governance efforts, progress and disclosures. Our compensation committee assesses and monitors whether any of our compensation policies and programs has the potential to encourage excessive risk-taking.

For more information on cybersecurity oversight, please refer to Item 1C, “Cybersecurity” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.

Throughout the year, senior management reviews the Company’s risk profile with the board of directors at regular board meetings as part of management presentations. Senior management also presents the steps taken by management to mitigate or eliminate such risks. In carrying out their risk oversight functions, the board of directors and its committees routinely request and review management updates, reports from the independent auditors and legal and regulatory advice from outside experts, as appropriate, to further inform the board of directors regarding risks and risk management efforts impacting the Company.

Evaluations of the Board of Directors

The board of directors evaluates its performance and the performance of its committees and individual directors on an annual basis through an evaluation process administered by the nominating and corporate governance committee. The board of directors discusses each evaluation to determine what, if any, actions should be taken to improve the effectiveness of the board of directors or any committee thereof or of the directors.

Meetings of the Board of Directors

Our board of directors held six meetings during the year ended December 31, 2024. Each of our incumbent directors attended at least 75% of the aggregate of the total number of board and committee meetings in 2024 on which he or she served (during the period served). Each director