Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 191

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 191
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 2021 Plan from 2,000,284 shares to 8,300,284 shares
and (ii) increase the 2021 Plan’s default annual automatic share reserve increase occurring on January 1 of each year from 4% of outstanding shares on the last day of the immediately preceding fiscal year to 5% (the “Equity Plan
Increase”). Our board of directors has approved the Equity Plan Increase, subject to approval from stockholders. We are asking our stockholders to approve the Equity Plan Increase because we are transitioning our business model from being a
commercial business to being a drug development business, and we have insufficient shares available to continue to make equity grants, which we believe are necessary to be able to recruit new employees and continue to provide long-term incentives to
existing employees and directors. Outstanding awards will remain outstanding and shall continue to be subject to the terms of the 2021 Plan and the respective award agreements, until the expiration of such awards in accordance with their terms.

The Equity Plan Increase includes increasing the number of shares available for future grant under the Amended and Restated Plan by 6,300,000 shares and
increasing the default annual automatic share reserve increase occurring on January 1 of each year from 4% of outstanding shares on the last day of the immediately preceding fiscal year to 5%. The Amended and Restated Plan will not contain any other
material differences from the current version of the 2021 Plan.

Why Should Stockholders Vote to Approve the Equity Plan Increase?

The Equity Plan Increase Will Allow Us to Continue Attracting, Retaining and Motivating the Best Talent

As of January 30, 2025, there were 2,070,784 shares reserved under the 2021 Plan. Following the successful consummation of the PIPE Financing, the Company
will issue an aggregate of 21,592,000 shares of the Company’s common stock at a price of $2.40 per share and Pre-Funded Warrants to purchase up to an aggregate of 20,076,500 shares of Aadi’s common stock at a purchase price of $2.3999 per
pre-funded warrant share. Following such financing, the Company anticipates that 46,272,708 shares will be outstanding, as well as Pre-Funded Warrants to purchase an additional 20,076,500 shares. To assess the adequacy of the share reserve under our
2021 Plan and consider a potential increase to such reserve, in December