Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 197

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 197
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 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 [●], 2025, there were [●] shares reserved under the 2021 Plan. Following the successful consummation of the PIPE Financing Proposal, 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 [●] shares will be outstanding, as well as Pre-Funded Warrants to purchase an additional [●] shares. To assess the adequacy of the share reserve
under our 2021 Plan and consider a potential increase to such reserve, in December 2024 our Compensation Committee retained Radford, a business unit of Aon plc, as an independent compensation consultant, to provide a market analysis against
companies that had recently gone through analogous transactions as those described in this proxy statement. Based on the results of such analysis, our Compensation Committee determined that based on the shares available under the 2021 Plan relative
to the Company’s total outstanding shares, the Company would be severely limited in its ability to attract and retain key talent and therefore recommended, and our board of directors approved, the Amended and Restated Plan and the Equity Plan
Increase.

Approval of the additional shares under the Amended and Restated Plan will allow us to continue to provide incentives to attract, retain and
motivate eligible persons whose present and potential contributions are important to our success by offering them an opportunity to participate in our future performance. We believe that the Equity Plan Increase is in the best interests of the
Company because of the continuing need to provide stock options, restricted stock, restricted stock units, and other equity-based incentives to attract and retain qualified personnel and to respond to relevant market changes in equity compensation
practices. The use of equity compensation has historically been a significant part of our overall compensation philosophy and is