Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 83

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
Chunk 83
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 listing on Euronext Paris and files financial reports on an annual and semi-annual basis, it is not required to file periodic reports and financial statements with the SEC as frequently or as promptly as U. S. public companies and is not required to file quarterly reports on Form 10-Q or current reports on Form 8-K under the Exchange Act. In addition, foreign private issuers are not required to file their annual report on Form 20-F until four months after the end of each fiscal year. Accordingly, there is and will be less publicly available information concerning the Company than there would be if the Company were not a foreign private issuer.

As a foreign private issuer, the Company is permitted to adopt certain home country practices in relation to corporate governance matters that differ significantly from Nasdaq corporate governance

listing standards, and these practices may afford less protection to shareholders than they would enjoy if Innate complied fully with Nasdaq corporate governance listing standards.

As a foreign private issuer listed on Nasdaq, the Company is subject to Nasdaq's corporate governance listing standards. However, Nasdaq rules permit foreign private issuers to follow the corporate governance practices of their home country. Therefore, as a general matter, the Company refers to the French Middlenext corporate governance code for corporate governance matters, and thus its corporate governance practices may differ significantly from Nasdaq corporate governance listing standards. For example, while the Nasdaq corporate governance rules would require a majority of the Supervisory Board to be independent, the Middlenext corporate governance code requires that at least one third of the members of Supervisory Board be independent and encourages 50% independent directors. Currently, all of the members of Innate’s Supervisory Board are independent (as defined by the Middlenext code) and meet both the Middlenext and Nasdaq requirements for independence. However, in the future, the composition of the Board may change such that the Company only meets the Middlenext requirement, but not the Nasdaq requirements for independence. Currently, the Company intends to follow home country practice to the maximum extent possible. Therefore, Innate Pharma's shareholders may be afforded less protection than they otherwise would have under corporate governance listing standards applicable to U. S. domestic issuers. For an overview of Innate's corporate governance practices, see “ Item 16G. - Corporate Governance.”

The Company incurs significant costs as a result of being a public company.

As a public company, Innate has incurred and will continue to incur significant legal, accounting and other expenses