Company: DNLI
Filing Date: 2025-12-09
Form Type: 424B5
Source: 0001628280-25-056085
Chunk: 45

Company: Denali Therapeutics Inc.
Filing Date: 2025-12-09
Form: 424B5
Chunk 45
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 surrender or forfeiture to us of shares of common stock upon the conversion of a convertible security in order to cover withholding tax obligations in connection with such conversion or (c) the sale of shares of common stock underlying restricted stock units to cover the payment of tax withholding obligations upon the vesting of such awards, in each case which securities have been issued pursuant to an equity incentive plan, stock purchase plan or other employee benefit plan;

• transfers in connection with a contractual arrangement that provides for the repurchase by us of shares from a service provider in connection with termination of service;

• transfers in connection with the conversion of any convertible security into shares of common stock;

• transfers pursuant to a bona fide third-party tender offer, merger, consolidation or similar transaction that is approved by the board of directors and made to all holders of our capital stock;

• transfers by operation of law, including pursuant to orders of a court, a qualified domestic order or in connection with a divorce settlement;

• transfers pursuant to a trading plan adopted pursuant to Rule 10b5-1 of the Exchange Act prior to the date of the underwriting agreement;

• transfer from us of shares of common stock in connection with the exercise of options or other rights granted under a stock incentive plan or other equity award plan; or

• the establishment of a trading plan adopted pursuant to Rule 10b5-1 of the Exchange Act, provided that such plan does not provide for the transfer of lock-up securities during the restricted period.

<div align='center'>S-35</div>

In connection with the offering, the underwriters may purchase and sell shares of common stock in the open market. These transactions may include short sales, stabilizing transactions and purchases to cover positions created by short sales. Short sales involve the sale by the underwriters of a greater number of shares than they are required to purchase in the offering, and a short position represents the amount of such sales that have not been covered by subsequent purchases. A "covered short position" is a short position that is not greater than the amount of additional shares for which the underwriters’ option described above may be exercised. The underwriters may cover any covered short position by either exercising their option to purchase additional shares or purchasing shares in the open market. In determining the source of shares to cover the covered short position, the underwriters will consider, among other things, the price of shares available for purchase in the open market as compared to the price at which they may purchase additional shares pursuant to the option described above. "Naked"