Company: DNLI
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001714899-25-000087
Chunk: 43

Company: Denali Therapeutics Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 43
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 share and pre-funded warrants to purchase an aggregate of 26,046,065 shares of our common stock at a purchase price of $17.06 per pre-funded warrant, resulting in net proceeds of approximately $499.3 million. The pre-funded warrants have an exercise price of $0.01 per share of Common Stock and are immediately exercisable and will remain exercisable until exercised in full. The private placement closed on February 29, 2024;

• In July 2024, Biogen terminated its license to the ATV:Abeta program enabled by our TfR-targeting technology against amyloid beta for the potential treatment of Alzheimer's disease and granted us rights to data generated during the collaboration. As a result of the termination, all rights to develop, manufacture, perform medical affairs activities, and commercialize new TfR-targeting ATV:Abeta therapeutics reverted to us. Biogen licensed our TfR-targeting ATV:Abeta program in April 2023 having exercised an option that was part of the 2020 collaboration agreement between the two companies. Biogen’s decision was not related to any efficacy or safety concerns with the TV platform.

2024 Compensation Highlights

Consistent with our compensation philosophy focusing on pay for performance, our compensation committee structured executive pay in 2024 to ensure alignment with the interests of our stockholders while incentivizing the pursuit of important strategic business goals. Highlights include:

• Base salaries – We made moderate adjustments to 2024 base salaries of our executives based on our review of roles, responsibilities and market practices;

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• Annual bonuses – Our annual bonus incentives were based on metrics and milestones pertaining to critical measures of our corporate strategy as well as drivers of our long-term goal of creating stockholder value. In 2024 we met 5 out of 6 (83%) high-impact objective goals and 15 out of 17 (88%) of our other objective goals. This resulted in an annual bonus paid out at 140% of target; and

• Equity grants – Consistent with our granting practices of recent years, we granted stock options and restricted stock units ("RSUs") to our executive officers in 2024 to motivate and retain our executives, while aligning their interests with those of our long-term stockholders.

Our Approach to Pay For Performance

Our pay program focuses on rewarding executives while keeping a significant portion of compensation at-risk. We consider the compensation mix, including the mix of variable and fixed pay as well as how