Company: HCWB
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0000950170-25-058961
Chunk: 40

Company: HCW Biologics Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 40
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 policy as may be established and/or amended from time to time by us. The compensation committee may require a participant to forfeit or return to and/or reimburse us for any amounts paid with respect to an award, pursuant to the terms of such company policy or as necessary or appropriate to comply with applicable laws.

#### Hedging and Pledging Policy
Under the terms of our insider trading policy, no employees, contractors, consultants and members of our board of directors (and their respective family members and any affiliated entities, such as venture capital funds) may engage in hedging or monetization transactions involving our securities, such as prepaid variable forward contracts, equity swaps, collars or exchange funds. In addition, such persons may not hold our securities in a margin account or pledge our securities as collateral for a loan unless the pledge has been approved by our Compliance Officer.

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TABLE OF CONTENTS

Outstanding Equity Awards at Fiscal Year-End Table The following table provides information regarding the outstanding stock option awards held by our named executive officers on December 31, 2024. Option Awards (1) Number of Securities Underlying
Unexercised Options

| Name                | Grant Date | (#) Exercisable |         |     | (#) Unexercisable | -#) Option Exercise Price ($)(2 | Option Expiration Date |
| Hing C. Wong, Ph.D. | 9/8/2021   |                 | 520,000 |     | 280,000(3)        |                            4.31 | 9/8/2031               |
| Rebecca Byam        | 8/29/2021  |                 | 135,000 |     | − (4)             |                            4.00 | 8/29/2031              |
|                     | 9/8/2021   |                 |  52,000 |     | 28,000(5)         |                            4.31 | 9/8/2031               |
| Peter Rhode, Ph.D   | 12/19/2019 |                 |  22,427 |     | − (6)             |                            0.14 | 12/19/2029             |
|                     | 12/22/2020 |                 |   6,857 |     | − (7)             |                            0.21 | 12/22/2030             |
|