Company: INKT
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0000950170-25-055881
Chunk: 40

Company: MiNK Therapeutics, Inc.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 40
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 serves to best align executive and employee interests with stockholders’ interests and provides appropriate performance and retention incentive with a less significant cost to the Company and to stockholders compared to the other alternatives.

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Structure of the Option Exchange We anticipate that the Option Exchange will take place on the date this Proposal 2 is approved by our stockholders (the “Exchange Date”). Eligible Holders Our employees, including our executive officers, consultants, and non-employee directors, who as of the Exchange Date are employees, consultants, or non-employee directors of the Company and hold outstanding Eligible Options, as described herein, comprising the “Eligible Holders” will automatically participate in the Option Exchange, without any action required on their part. Participants in the Option Exchange must continue in their employment with, or service to, us (as applicable) through the date on which the surrendered options are cancelled and replacement stock options are granted. Any individual whose employment or service with us (as applicable) terminates for any reason before the date the new stock options are granted, including a termination due to voluntary resignation, retirement, involuntary termination, layoff, death or disability, would retain his or her Eligible Options subject to their existing terms and will not be eligible to receive new stock options in the Option Exchange. Eligible Options As of April 24, 2025, Eligible Holders held outstanding options to purchase [ ] shares of common stock with a weighted average exercise price of $[ ] per share, of which [ ]% were underwater, meaning the exercise price of the option exceeded $[ ] (the closing price of a share of our common stock on April 24, 2025). Of the stock options held by Eligible Holders, outstanding options to purchase [ ] shares of common stock had an exercise price equal to or greater than $8.50 per share and otherwise met the criteria to be considered Eligible Options for purposes of the Option Exchange. The weighted-average exercise price and weighted average remaining life of the Eligible Options is $[ ] and [ ] years, respectively. No Eligible Options were issued after [ ] and all Eligible Options were issued at least [ ] months prior to April 24, 2025. The following chart illustrates the breakdown of Eligible Options by their exercise price, as of April 24, 2025. [Insert pie chart showing percentage of Eligible Options by exercise price.] The following chart illustrates the breakdown of Eligible Options by the year in which