Company: IOBT
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000950170-25-058699
Chunk: 25

Company: IO Biotech, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 25
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                | 14,217 |     |        |      — |     |       |  14,217 |
| David V. Smith, M.B.A.        |     |                | 55,500 |     |        | 42,068 |     |       |  97,568 |

(1) Amounts reported in this column reflect the aggregate grant date fair value of stock options awarded in 2024, computed in accordance with FASB ASC Topic 718, Compensation – Stock Compensation. See Note 12 to the Audited Financial Statements included in our Form 10-K for the fiscal year ended December 31, 2024 for a discussion of the relevant assumptions used in calculating these amounts. As of December 31, 2024, each non-employee director that served on our board of directors during 2024 held the following warrant and stock option awards as of December 31, 2024 and did not hold any other outstanding equity awards with respect to the Company as of such date: Dr. Hirth, 256,486 warrants and stock options; Dr. Collins, 109,880 stock options; Dr. Elling, 111,060 stock options; Ms. Glaub, 212,858 warrants and stock options; Ms. Hunter, 109,880 stock options; Mr. Nielsen, 23,885 stock options; and Mr. Smith, 139,079 stock options. (2) Mr. Nielsen resigned from our board of directors, effective April 24, 2024.

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EXECUTIVE COMPENSATION</div>

The following is a discussion and analysis of compensation arrangements of our named executive officers. As an “emerging growth company” as defined in the JOBS Act, we are not required to include a Compensation Discussion and Analysis section and have elected to comply with the scaled disclosure requirements applicable to emerging growth companies.

Overview

Our current executive compensation program is intended to align executive compensation with our business objectives and to enable us to attract, retain and reward executive officers who contribute to our long-term success. The compensation paid or awarded to our executive officers is generally based on the assessment of each individual’s performance compared against the business objectives established for the fiscal year as well as our historical compensation practices. For 2024, the material elements of our executive compensation program were base salary, annual cash bonuses and equity awards in the form of options.

This section provides a discussion of the compensation paid or awarded to our Chief