Company: IOBT
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000950170-25-058699
Chunk: 23

Company: IO Biotech, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 23
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 the end of each quarter in which the service was performed and are pro-rated for any partial months of service.

| Position                            |     | Annual Cash 
 Retainer    |        |
|:------------------------------------|:----|:------------|-------:|
| Board Member                        |     | $           | 40,000 |
| Chairperson of the Board*           |     |             | 34,000 |
| Committee Chairs:**                 |     |             |        |
| Audit                               |     |             | 15,000 |
| Compensation                        |     |             | 10,000 |
| Nominating and Corporate Governance |     |             |  8,000 |
| Committee Members:**                |     |             |        |
| Audit                               |     |             |  7,500 |
| Compensation                        |     |             |  5,000 |
| Nominating and Corporate Governance |     |             |  4,000 |

* Represents additional compensation in addition to compensation for service as a board member. ** Represents additional compensation in addition to compensation for service as a board member. The chair of a committee does not receive additional compensation as a member of such committee. Equ ity Compensation In January 2024, our board of directors approved a revision to our non-employee director compensation program pursuant to which: (i) upon appointment, a non-employee director will receive an option to purchase 70,593 shares of our common stock (prior to January 2024, upon appointment each non-employee director was entitled to receive a grant of stock options valued at $116,000 as of the grant date), which will vest monthly over a period of three years, subject to such director’s continuous service on each applicable vesting date; and (ii) each non-employee director will, at the close of business on the date of each annual meeting of stockholders, receive an option to purchase 45,642 shares of our common stock (prior to January 2024, the annual stock option grant was valued at $75,000 as of the grant date), which will vest upon the one-year anniversary of the grant date, subject to such director’s continuous service on the vesting date. Notwithstanding the vesting schedules described above, each non-employee director who remains in continuous service until a change of control (as defined in our 2021 Equity Incentive Plan (the “2021 Equity Plan”)) will become fully vested in all then-outstanding equity awards.