Corporate GovernanceJun 22, 2026, 04:07 PM
Oric Pharma Amends 2020 Equity Incentive Plan; Stockholders Approve
AI Summary
Oric Pharmaceuticals, Inc. announced that its stockholders approved the Amended and Restated 2020 Equity Incentive Plan at the Annual Meeting on June 18, 2026. Key amendments include reducing the annual 'evergreen' increase from 5% to 4% of outstanding shares while removing a fixed share limit, setting a maximum of 10,000,000 shares for incentive stock options, and eliminating certain administrative flexibilities regarding award modifications. Additionally, stockholders elected two Class III directors, ratified KPMG LLP as the auditor, and approved executive compensation and an annual frequency for future advisory votes on compensation.
Key Highlights
- Stockholders approved the Amended and Restated 2020 Equity Incentive Plan.
- Annual 'evergreen' provision amended to reduce annual increase from 5% to 4% of outstanding shares.
- Annual 'evergreen' provision removed the annual limit of 2,656,500 shares.
- Maximum 10,000,000 shares can be issued via incentive stock options under the plan.
- Ability to surrender/cancel awards for different types/cash, transfer awards, or reduce exercise price was eliminated.
- Jacob M. Chacko and Mardi C. Dier were elected as Class III directors.
- KPMG LLP was ratified as the independent registered public accounting firm for 2026.
- Stockholders approved, on an advisory basis, executive compensation and annual frequency for future votes.
Price Impact
More from ORIC