Forte Biosciences Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders
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Item 5.02 Compensatory Arrangements of Certain Officers.
The board of directors (the “Board”) of Forte Biosciences, Inc. (the “Company”) previously approved, subject to stockholder approval, the amendment and restatement of the Company’s 2021 Equity Incentive Plan (the “A&R 2021 Equity Incentive Plan”). At the Special Meeting (as defined in Item 5.07 below), the Company’s stockholders approved the A&R 2021 Equity Incentive Plan.
The purposes of the A&R 2021 Equity Incentive Plan are to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentive to employees, directors and consultants, and to promote the success of the Company’s business. These purposes are achieved through the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance units, and performance shares.
The number of shares of common stock reserved for issuance under the A&R 2021 Equity Incentive Plan is: (a) 3,340,000 Shares, plus (b) any Shares subject to awards granted under the Tocagen, Inc. 2009 Equity Incentive Plan, the Tocagen, Inc. 2017 Equity Incentive Plan, and the Forte Biosciences Inc. 2018 Equity Incentive Plan that, after May 28, 2021, the date of the original stockholder approval of the 2021 Equity Incentive Plan, expire or otherwise terminate without having been exercised or issued in full or are forfeited to or repurchased by the Company due to failure to vest, with the maximum number of Shares to be added to the Plan pursuant to clause (b) equal to 44,093.
The material terms of the A&R 2021 Equity Incentive Plan are described in “Proposal No. 1 – Approval of the Amended and Restated 2021 Equity Incentive Plan” in the Company’s definitive proxy statement on Schedule 14A filed with the United States Securities and Exchange Commission on December 31, 2024, which description is incorporated herein by reference.
The foregoing description of the A&R 2021 Equity Incentive Plan is qualified in its entirety by reference to the text of the A&R 2021 Equity Incentive Plan, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 5.07 Submission of Matters to a Vote of Security Holders.
The Company held a special meeting of stockholders (the “Special Meeting”) on January 24, 2025. Of the 6,393,323 shares of Common Stock outstanding as of the record date of December 30, 2024, 4,032,759 shares were represented at the Special Meeting, either by proxy or by attending the meeting.. The matters voted on at the Special Meeting and the votes cast with respect to each such matter are set forth below:
| 1. | Approval of the Amended and Restated 2021 Equity Incentive Plan. The Company’s stockholders approved the Amended and Restated 2021 Equity Incentive Plan. The votes regarding the proposal were as follows: |
| Votes For |
Votes Against |
Abstentions | ||
| 2,186,796 | 470,795 | 1,375,168 |
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits |
| Exhibit |
Description | |
| 10.1 | Amended and Restated 2021 Equity Incentive Plan | |
| 104 | The cover page of this Current Report on Form 8-K, formatted in inline XBRL. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FORTE BIOSCIENCES, INC. | ||||||
| Date: January 24, 2025 | By: | /s/ Antony Riley | ||||
| Antony Riley Chief Financial Officer | ||||||