Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 226

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 6
Chunk 226
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 met at the end of this lock-up period. Each free preferred share is convertible into a number of ordinary shares of the Company - which number depends upon the degree of fulfilment of the performance conditions. The free preferred shares remain convertible into ordinary shares for a period of six years and six months. Free preferred shares not converted at the end of this conversion period can be repurchased by Innate and cancelled. The Company's AGAP cannot be sold.

The Company has established several AGAP plans in 2016 and 2017 for all of its employees or for management only.

Since the end of the lock-up period, holders of the 2016 AGAP that have not yet converted them into ordinary shares, are entitled to vote at the shareholders’ meetings, to dividends and to preferential subscription rights, on the basis of the number of ordinary shares to which they are entitled if they convert their AGAP.

On October 21, 2019, the performance criteria of the 2016-1 AGAP were assessed and the conversion ratio was determined as follows: one 2016-1 AGAP gives right to 130 ordinary shares.

On December 30, 2019, the performance criteria of the 2016-2 AGAP were assessed and the conversion ratio was determined as follows: one 2016-2 AGAP gives right to 111 ordinary shares.

The 2017 AGAP are not convertible since the performance criteria were not met.

The following table shows the AGAPs outstanding as of December 31, 2024:

  Plan title                                                                               AGAP        AGAP Management        AGAP Employees  
                                                                                     Management                 2016-2                2016-1  
                                                                                         2016-1                                               
  Shareholder general meeting date                                                 June 2, 2016           June 2, 2016          June 2, 2016  
  Date of grant                                                                October 21, 2016      December 30, 2016      October 21, 2016  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Number of AGAP granted                                                                  2,000                  3,000                 2,486  
  Maximum number of ordinary shares into which each AGAP can be converted                   130                    111                   130  
  Number of AGAP lapsed during the vesting period                                           450                      0                   105  
  Number of vested AGAP