Company: WHWK
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015269
Chunk: 193

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 193
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176.11%Expected term (in years)0.50.5Expected dividend yield——

137

As of December 31, 2024 and 2023, 810,743 and 659,146 shares of common stock were available for issuance under the 2021 ESPP, respectively. The Company had an outstanding liability of $37,000 and $0.1 million at December 31, 2024 and 2023, respectively, which will be recognized over six months. During the years ended December 31, 2024 and 2023, 93,945 and 77,565 shares were issued under the 2021 ESPP, respectively.

11. Employee Retirement Plan

The Company maintains a 401(k) plan (the “401k Plan”) created in 2015 for the benefit of its employees. All employees who have attained the age of 21 are eligible to participate in the 401k Plan as of the first entry date, as defined by the 401k Plan document, following the employment date. Each employee can contribute a percentage of compensation up to a maximum of the statutory limits per year. Company contributions are discretionary. Contributions of $0.6 million and $0.7 million were made during the years ended December 31, 2024 and 2023.

12. Income Taxes

The Company recorded no income tax expense or benefit for the years ended December 31, 2024 and 2023. The Company continues to maintain a full valuation allowance. A reconciliation of the statutory federal income tax with the provision for income taxes are as follows:Year Ended December 31,20242023Federal tax at statutory rate21.0 %21.0 %State income tax, net of federal benefit2.7 3.4 Other permanent items(2.2)(0.9)Change in tax rate0.2 1.3 Investment in subsidiary53.6 — Officers compensation(2.1)(0.7)Research credit4.9 5.4 Change in valuation allowance(78.1)(29.5)Effective tax rate— %— %Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):As of December 31,20242023Deferred tax assets:Net operating loss carryforwards$49,184 $43,686 Research and development tax credits11,796 8,734 Section