Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 223

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 6
Chunk 223
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 0                   0                       0                    0                 
  BSA remaining as of December 31, 2024                70,000              14,200              37,000                  8,260                38,000            

Redeemable Share Warrants (BSAAR)

Redeemable share warrants, or BSAAR, are identical to the share warrants of BSA (including the one-for-one exercise ratio, its potential adjustment for certain modifications of the share capital and the exercise period of 10 years), except for the following features:

• the BSAAR are initially purchased by the beneficiary at their fair value, as determined by an expert, and

• the BSAAR plans include a “forcing” clause making it possible to encourage holders to exercise their BSAAR when the market price exceeds the exercise price and reaches a threshold defined in the BSAAR issuance agreement. The Company can then, subject to a time period for notifying the holders that will permit them to exercise their BSAAR, decide to purchase the unexercised BSAAR at a unit price equal to the BSAAR acquisition price initially paid by their holders.

Innate's redeemable share warrants cannot be sold. The BSAAR have been granted to certain of the executive officers and employees.

The following table shows the BSAAR outstanding as of December 31, 2024:

  Shareholder general meeting date                       April 27, 2015  
  Date of issue                                          July 1, 2015    
 ─────────────────────────────────────────────────────────────────────────
  Plan title                                             BSAAR 2015      
  Total number of BSAAR issued                           1,050,382       
  Start date of the exercise period                      July 1, 2015    
  End date of the exercise period                        June 30, 2025   
  BSAAR initial purchase price                           €1.15           
  Exercise price per BSAAR/share                         €7.20           
  Number of BSAAR exercised as of December 31, 2024      1,940           
  BSAAR cancelled or lapsed as of December 31, 2024      2,720           
  BSAAR remaining as of December 31, 2024                1,045,722       

Free Shares (AGA)

Free shares (AGA) are employee equity incentive instruments pursuant to which the beneficiaries are granted, for free, the possibility to