Company: IOBT
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000950170-25-058699
Chunk: 14

Company: IO Biotech, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 14
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 review, our board of directors determined that, with the exception of Dr. Zocca, our Chief Executive Officer, each member of our board of directors is an “independent director” as defined under the applicable rules and regulations of the SEC and the listing requirements and rules of Nasdaq. In addition, Mr. Jack Nielsen, who served on the board of directors during a portion of the 2024 fiscal year, was also deemed independent. In making these determinations, our board of directors reviewed and discussed information provided by the directors and by us with regard to each director’s business and personal activities and relationships as they may relate to us and our management, including the beneficial ownership of our common stock by each non-employee director and the transactions involving them described in the section titled “Certain Relationships and Related Person Transactions.”

Leadership Structure of the Board of Directors

The board of directors may choose to combine or separate the positions of Chairman of the Board and Chief Executive Officer. As a general policy, our board of directors believes that separation of the positions of Chairman of the Board and Chief Executive Officer reinforces the independence of our board of directors from management, creates an environment that encourages objective oversight of management’s performance and enhances the effectiveness of our board of directors as a whole. As such, Dr. Mai-Britt Zocca serves as our Chief Executive Officer and President, while Dr. Peter Hirth serves as our independent Chairman of the board of directors. Our board of directors has concluded that our current leadership structure is appropriate at this time. However, our board of directors continues to periodically review our leadership structure and may make such changes in the future as it deems appropriate.

The duties of our independent Chairman include the following:

Approve board of directors meeting agenda;

Work with committee chairs to set committee agendas, considering strategic issues facing the Company, and with input from other directors and the CEO;

Preside over board of directors’ and annual stockholder meetings;

Attend committee meetings as appropriate;

Coordinate effective communication between respective committee chairs and management;

Oversee orientation for new directors and ongoing education for directors;

Oversee that the board of directors receives accurate, timely, and clear information on:

The Company’s performance;

The issues, challenges, and opportunities facing the Company; and

Matters reserved to it for decision;

Facilitate effective communication and constructive relationships between the board of directors and management; and

Meet with stockholders when engagement is requested.

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Board of Directors’ Role in Risk Oversight

One of the