Company: ADPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030913
Chunk: 188

Company: Adaptive Biotechnologies Corp
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 188
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 The holders of record of outstanding shares of common stock shall be entitled to receive, when, as and if declared, out of funds legally available, such cash and other dividends as may be declared from time to time.Our 2019 Equity Incentive Plan (the “2019 Plan”) provides for annual increases in the number of shares that may be issued under the 2019 Plan on January 1, 2020 and on each subsequent January 1, thereafter, by a number of shares equal to the lesser of (a) 5% of the number of shares of common stock issued and outstanding on the immediately preceding December 31, or (b) an amount determined by our board of directors.Furthermore, our Employee Stock Purchase Plan (the “ESPP”) provides for annual increases in the number of shares available for issuance under our ESPP on January 1, 2020 and on each January 1, thereafter, by a number of shares equal to the smallest of (a) 1% of the number of shares of common stock issued and outstanding on the immediately preceding December 31, or (b) an amount determined by our board of directors.Effective January 1, 2024, our 2019 Plan and ESPP reserves increased by 7,254,113 shares and 1,450,822 shares, respectively. Our board of directors determined not to increase the 2019 Plan and ESPP reserves in 2025.

111

Adaptive Biotechnologies CorporationNotes to Consolidated Financial Statements (Continued) 

As of December 31, 2024, we had reserved shares of common stock for the following: 

        Shares issuable upon the exercise of outstanding stock options granted

        12,295,297

        Shares issuable upon the vesting of outstanding restricted stock units granted and the maximum outstanding market-based restricted stock units eligible to be earned

        14,005,966

        Shares available for future grant under the 2019 Equity Incentive Plan

        18,018,312

        Shares available for future grant under the Employee Stock Purchase Plan

        5,686,170

        Total shares of common stock reserved for future issuance

        50,005,745

14.Equity Incentive Plans2009 Equity Incentive PlanWe adopted an equity incentive plan in 2009 (the “2009 Plan”) that provided for the issuance of incentive and nonqualified common stock options and other share-based