Company: IOBT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047744
Chunk: 303

Company: IO Biotech, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 303
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2031, equal to the lesser of (i) 4% of the number of shares of common stock outstanding on the last day of the calendar month before the date of each automatic increase or (ii) such other amount determined by our Board. As of December 31, 2024, we had 423,022 shares available for future grant under the 2021 Equity Plan.2021 Employee Stock Purchase PlanIn November 2021, our Board adopted and our stockholders approved the IO Biotech, Inc. 2021 Employee Stock Purchase Plan (“2021 ESPP”), which became effective on November 4, 2021. The number of shares of our common stock reserved for issuance under the 2021 ESPP is equal to 257,272, subject to an annual increase, to be added on the first day of each fiscal year, beginning January 1, 2022, equal to the lesser of (1) 1% of the number of shares of common stock outstanding on the last day of the calendar month before the date of each automatic increase; (2) 257,272 shares of our common stock; or (3) such other amount as determined by our Board. As of December 31, 2024, the Board had not yet approved any offering under the 2021 ESPP.2023 Inducement Award Plan In September 2023, our Board adopted the 2023 Inducement Award Plan (“2023 Inducement Plan”), which became effective on September 28, 2023. The 2023 Inducement Plan provides for the grant of non-statutory stock options, stock appreciation rights, awards of restricted stock, restricted stock units and other stock-based awards to eligible employees who satisfy the standards for inducement grants under Nasdaq Global Market rules. The number of shares of our common stock reserved for issuance under the 2023 Inducement Plan is equal to 1,976,427. As of December 31, 2024, there were 1,666,427 shares available for future grant under the 2023 Inducement Plan.The following table summarizes our stock options activity for the years ended December 31, 2024 and 2023:  

        Number ofOptions and Warrants

        Weighted-averageexercisepriceper share

        Weighted-averageremainingcontractualterm(in years)

        Aggregateintrinsicvalue(in thousands)

        Outstanding December 31, 2022

        3