Company: ANTX
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0000950170-25-052852
Chunk: 29

Company: AN2 Therapeutics, Inc.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 29
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’s financial statements for the year ended December 31, 2024 included in the Company’s Annual Report on Form 10-K for such year. (2) Non-equity incentive plan compensation consists of bonus awards under the Incentive Compensation Plan (as defined below) earned for 2024 and 2023 performance, which compensation was paid in March 2025 and February 2024, respectively. Please see the description of the annual performance-based cash bonus awards paid to the named executive officers in the “Non-Equity Incentive Plan Compensation” section below. (3) Includes 401(k) matching contributions by the Company. (4) Includes 401(k) matching contributions by the Company, a lump sum severance in the amount of $366,188, which was equal to 75% of Dr. Eckburg's annual base salary, and fees for consulting services. Narrative to Summary Compensation Table Our compensation committee reviews compensation annually for all executive employees, including our named executive officers. In making compensation determinations, we consider compensation for comparable positions in the market, the historical compensation levels of our executives, individual performance as compared to our expectations and objectives, our desire to motivate our employees to achieve short- and long-term results that are in the best interests of our stockholders and a long-term commitment to our Company. For setting our 2024 executive compensation levels, our compensation committee also engaged Aon as our compensation consultant to develop a comparative peer group of companies and to perform analyses of our executive compensation practices compared with current market practices and the peer group of companies.

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Our compensation committee has historically determined our executive officers’ compensation and has typically reviewed and discussed management’s proposed compensation with our Chief Executive Officer for all executives other than our Chief Executive Officer. Based on those discussions and its discretion, our compensation committee then approved the compensation of each executive officer.

Annual Base Salaries

Base salaries for our executive officers are initially established through arm’s-length negotiations at the time of the executive officer’s hiring, taking into account such executive officer’s qualifications, experience, the scope of his or her responsibilities and competitive market compensation paid by other companies for similar positions within the industry and geography. Base salaries are reviewed periodically, typically in connection with our annual review process, and adjusted from time to time to realign salaries with market levels after taking into account individual responsibilities, performance and experience. In making decisions regarding salary increases we reviewed the analysis conducted by Aon comparing our compensation practices to current market practices and