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TABLE OF CONTENTS
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
Filed by the Registrantý | ||
Filed by a Party other than the Registranto | ||
Check the appropriate box: | ||
o | Preliminary Proxy Statement | |
o | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) | |
ý | Definitive Proxy Statement | |
o | Definitive Additional Materials | |
o | Soliciting Material under §240.14a-12 |
REPLIMUNE GROUP, INC. | ||||
(Name of Registrant as Specified In Its Charter) | ||||
(Name of Person(s) Filing Proxy Statement, if other than the Registrant) | ||||
Payment of Filing Fee (Check the appropriate box): | ||||
ý | No fee required. | |||
o | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. | |||
(1) | Title of each class of securities to which transaction applies: | |||
(2) | Aggregate number of securities to which transaction applies: | |||
(3) | Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): | |||
(4) | Proposed maximum aggregate value of transaction: | |||
(5) | Total fee paid: | |||
o | Fee paid previously with preliminary materials. | |||
o | Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. | |||
(1) | Amount Previously Paid: | |||
(2) | Form, Schedule or Registration Statement No.: | |||
(3) | Filing Party: | |||
(4) | Date Filed: |
Replimune Group, Inc.18 Commerce Way500 Unicorn Park
Woburn, MA 01801
Dear Stockholder:
On behalf of the Board of Directors of Replimune Group, Inc. (the "Company", "we" or "Replimune"), I invite you to attend our 20192020 Annual Meeting of Stockholders (the "2019 Annual"Annual Meeting"). The 2019 Annual Meeting, which will be held on Wednesday, September 4, 2019,9, 2020, at 2:00 p.m., Eastern Time, atTime. We have adopted a virtual format for our Annual Meeting in an effort to maintain the officeshealth and well-being of Morgan, Lewis & Bockius LLP, One Federal Street, Boston, Massachusetts 02110.our directors, employees and stockholders in light of the public health impact of the coronavirus pandemic ("COVID-19"). You will be able to attend the Annual Meeting online and submit your questions during the meeting by visiting www.meetingcenter.io/268991760, but you will not be able to attend the Annual Meeting in person.
The matters to be voted upon at the 2019 Annual Meeting are listed in the Notice of 2019 Annual Meeting and more fully described in the proxy statement accompanying this letter (the "Proxy Statement").
We know that manyAll holders of record of our Company's stockholders (each, a "Stockholder",common stock at the close of business on July 28, 2020, the record date, are entitled to notice of and collectively,to vote at the "Stockholders") will be unable to attend the 2019 Annual Meeting and any continuation, postponement, or adjournment thereof. Whether or not you participate in person.the Annual Meeting, it is important that your shares be represented and voted during the meeting. We therefore are soliciting proxies so that each Stockholderstockholder has an opportunity to vote on the matters that are scheduled to come before the Stockholdersstockholders at the 2019 Annual Meeting. Instructions regarding how you can vote are contained on your proxy card. You may vote over the Internet, by telephone, or by signing, dating and returning your proxy card promptly in the enclosed postage-paid envelope. Submitting your vote via the Internet or by telephone or proxy card will not affect your right to vote in personelectronically if you decide to attend the 2019 Annual Meeting. You may revoke yourYour proxy at any time prior tois revocable in accordance with the time it is voted atprocedures set forth in the 2019 Annual Meeting.Proxy Statement. If your shares are held in street name (held for your account by a broker or other nominee), you will receive instructions from your broker or other nominee explaining how to vote your shares, and you will have the option to cast your vote by telephone or over the Internet if your voting instruction form from your broker or nominee includes instructions and a telephone number or Internet website to do so. RegardlessWhether or not you expect to attend the Annual Meeting electronically, we urge you to vote your shares as promptly as possible to ensure your representation and the presence of a quorum at the number of shares you own, your presence in person or by proxy is important for quorum purposes and your vote is important for proper corporate action.Annual Meeting.
Thank you for your continuing interest in the Company. We look forward to seeing you at the 2019 Annual Meeting.
Sincerely, | ||
/s/ | ||
July 29, 2020 |
Replimune Group, Inc.18 Commerce Way500 Unicorn Park
Woburn, MA 01801
NOTICE OF 20192020 ANNUAL MEETING OF STOCKHOLDERS
The 20192020 Annual Meeting of Stockholders (the "2019 Annual"Annual Meeting") of Replimune Group, Inc. (the "Company", "we" or "Replimune") will be held on Wednesday, September 4, 2019,9, 2020, at 2:00 p.m., Eastern Time, atTime. We have adopted a virtual format for our Annual Meeting, which will be conducted via live webcast. You will be able to attend the offices of Morgan, Lewis & Bockius LLP, One Federal Street, Boston, Massachusetts 02110Annual Meeting online and submit your questions during the meeting by visiting www.meetingcenter.io/268991760 and entering your 15-digit control number included on your proxy card or on the instructions that accompanied your proxy materials. The password for the meeting is REPL2020. The Annual Meeting will be held for the purpose of considering threethe following company-sponsored proposals:
We will also consider and act upon any other matters that properly come before the 2019 Annual Meeting or any continuation, adjournment or postponement thereof.
Our Board of Directors recommends that you vote "FOR" each of the nominees for Class III director (Proposal No. 1); "FOR" the amendment of the Company's certificate of incorporation (Proposal No. 2); and "FOR" ratification of the proposed independent registered public accounting firm (Proposal No. 3)2).
Our Board of Directors has fixed the close of business on July 17, 201928, 2020 as the record date for determining stockholders entitled to notice of and to vote at the 2019 Annual Meeting. Therefore, each outstanding share of Replimune'sour common stock (Nasdaq: REPL) entitles the holder of record of such shares at the close of business on July 17, 201928, 2020 to receive notice of, and to vote at, the 2019 Annual Meeting or any continuation, adjournment or postponement ofthereof. To participate in the 2019 Annual Meeting.
All stockholders as ofMeeting, including to vote via the record date,Internet or their duly appointed proxies, may attend the meeting. If you attend,telephone, you will be asked to present valid picture identification such as a driver's licenseneed the 15-digit control number included on your proxy card or passport. If your stock is held in a brokerage account or by a bank or other nominee, you are considered the beneficial owner of shares held in street name, and this proxy statement is being forwarded to you by your broker or nominee. As a result, your name does not appear on our list of stockholders. If your stock is held in street name, in addition to picture identification, you should bring with you a letter or account statement showing that you were the beneficial owner of our stock on the record date, in order to be admitted to the meeting.instructions that accompanied your proxy materials.
Whether or not you expect to attend the meeting,Annual Meeting electronically, we urge you to vote your shares by Internet, telephone, or by signing, datingas promptly as possible to ensure your representation and returning the proxy card included in these materials.presence of a quorum at the Annual Meeting. If you choose to attend the 2019 Annual Meeting electronically, you may still vote your shares in person,electronically at the Annual Meeting, even if you have previously voted or returned your proxy by any of the methods described in our proxy statement. If your shares are held in street name in a bank or brokerage account, please refer to the materials provided by your bank, broker or other nominee for voting instructions. Your proxy is revocable in accordance with the procedures set forth in our proxy statement.
All stockholders are extended a cordial invitation to attend the meeting.Annual Meeting via live webcast.
By Order of the Board of Directors, | ||
/s/ |
| Page | |||
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PROXY STATEMENT | 1 | |||
GENERAL INFORMATION | 1 | |||
PROPOSAL NO. 1—ELECTION OF DIRECTORS | ||||
BOARD OF DIRECTORS | ||||
Board Composition and Structure | ||||
Director Biographies | ||||
CORPORATE GOVERNANCE | ||||
Director Independence | ||||
Board Meetings, Attendance and Executive Sessions | ||||
Board of Directors Leadership Structure | ||||
The Board of Directors' Role in Risk Oversight | ||||
Board Committees | ||||
Polices Governing Director Nominations | ||||
Communication with the Board of Directors | ||||
19
| ||||
Code of Business Conduct and Ethics and Corporate Governance Guidelines | ||||
Anti-Hedging and Pledging Policy | 19 | |||
DIRECTOR COMPENSATION | ||||
EXECUTIVE OFFICERS | ||||
Executive Officer Biographies | ||||
EXECUTIVE COMPENSATION | ||||
Summary Compensation Table | ||||
Outstanding Equity Awards at Fiscal Year-End | ||||
Pension Benefits | ||||
Employment Agreements | ||||
Compensation Consultant | ||||
AUDIT COMMITTEE REPORT | ||||
PROPOSAL NO. 2— | ||||
| ||||
Policy on Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of Independent Registered Public Accounting Firm | ||||
Principal Accountant Fees and Services | ||||
BENEFICIAL OWNERSHIP OF COMMON STOCK | ||||
CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS | ||||
Related Party Transactions Policy | ||||
DELINQUENT SECTION | ||||
GENERAL MATTERS | ||||
Availability of Certain Documents | ||||
Stockholders Sharing an Address / Household | ||||
Stockholder Proposals and Nominations | ||||
Other Matters |
Replimune Group, Inc.18 Commerce Way500 Unicorn Park
Woburn, MA 01801
PROXY STATEMENT FOR 20192020 ANNUAL MEETING OF STOCKHOLDERS
To Be Held On Wednesday, September 4, 20199, 2020 at 2:00 p.m. Eastern TimeAt
This proxy statement ("Proxy Statement") is furnished in connection with the officessolicitation by the Board of Morgan, Lewis & Bockius LLP,At One Federal Street, Boston, Massachusetts 02110Directors (the "Board") of Replimune Group, Inc., a Delaware corporation ("Replimune," "we," "our," "us," or the "Company"), of proxies in the accompanying form to be used at our 2020 Annual Meeting of Stockholders (the "Annual Meeting") to be held on September 9, 2020 at 2:00 p.m., Eastern Time, and any continuation, postponement or adjournment thereof. We have adopted a virtual format for our Annual Meeting, which will be conducted via live webcast. You will be able to attend the Annual Meeting online and submit your questions during the meeting by visiting www.meetingcenter.io/268991760 and entering your 15-digit control number included on your proxy card or on the instructions that accompanied your proxy materials. The password for the meeting is REPL2020.
When are this proxy statementProxy Statement and the accompanying materials scheduled to be sent to stockholders?
This proxy statement and accompanyingProxy Statement, the enclosed proxy card and Replimune's Annual Report on Form 10-K for the fiscal year ended March 31, 2020, or, for shares held in street name (held for your account by a broker or other nominee), the voting instruction form, are scheduled to be first sent to stockholders beginning on August 14, 2019.or around July 29, 2020.
The Board of Directors (the "Board") of Replimune Group, Inc. (the "Company", "we" or "Replimune") is soliciting your vote for the proposals to be voted on at our 2019 Annual Meeting of Stockholders (the "2019 Annual Meeting").
When is the record date for the Annual Meeting?
Replimune'sThe Board has fixed the record date for determining those stockholders entitled to notice of, and to vote at, the 2019 Annual Meeting as of the close of business on July 17, 2019 for determining stockholders28, 2020 (the "Record Date").
Who can vote at the Annual Meeting?
You are entitled to notice of and to vote at the 2019Annual Meeting only if you were a stockholder of record at the close of business on the Record Date, or if you hold a valid proxy for the Annual Meeting.
How many votes can be cast by all stockholders?
A total As of 31,666,182the close of business on the Record Date, we had approximately 40,458,079 shares of common stock of Replimune were outstanding on July 17, 2019 and are entitled to be voted at the 2019 Annual Meeting.outstanding. Each share of common stock is entitledentitles the holder to one vote on each matter presented at the 2019 Annual Meeting. There is no cumulative voting.
Who can attend the Annual Meeting?
We have adopted a virtual format for our Annual Meeting in an effort to maintain the health and well-being of our directors, employees and stockholders in light of the public health impact of the coronavirus pandemic ("COVID-19"). You may attend the Annual Meeting online only if you are a stockholder who is entitled to vote at the Annual Meeting, or if you hold a valid proxy for the Annual Meeting. You may attend and participate in the Annual Meeting by visiting the following website: www.meetingcenter.io/268991760. The password for the meeting is REPL2020. To attend and participate in the Annual Meeting, you will need the 15-digit control number included on your proxy card or on the instructions that accompanied your proxy materials. If your shares are held in "street name," as described below, you must register in advance to attend the Annual Meeting online using the instructions found under the caption "How do I vote?" below.
The Annual Meeting webcast will begin promptly at 2:00 p.m., Eastern Time. We encourage you to access the meeting prior to the start time, leaving ample time for check-in procedures.
What is the difference between a stockholder of record and beneficial owner of shares held in "street name"?
Stockholder of Record. If your shares are registered directly in your name with our transfer agent, Computershare Trust Company, N.A. ("Computershare"), you are considered the stockholder of record with respect to those shares, and the Notice of Annual Meeting and Proxy Statement will be sent directly to you by Replimune.
Beneficial Owner of Shares Held in "Street Name." If your shares are held in an account at a brokerage firm, bank, broker-dealer, or other similar organization, then you are the beneficial owner of shares held in "street name," and the Notice of Annual Meeting and Proxy Statement were forwarded to you by that organization. The organization holding your account is considered the stockholder of record for purposes of voting at the Annual Meeting. As a beneficial owner, you have the right to direct that organization on how to vote the shares held in your account.
If you are a stockholder of record and your shares are registered directly in your name, you may vote:
named in the proxy card upon any other business that may properly be brought before the meeting and at all adjournments and postponements thereof.
If your shares are held in street name (held for your account by a broker or other nominee), you may vote:
Annual Meeting). To register to attend the Annual Meeting online, you must submit proof of your proxy power (legal proxy) reflecting your holdings in the Company along with your name and email address to Computershare. Requests for registration must be labeled as "Legal Proxy" and be received no later than 5:00 p.m., Eastern Time, on September 8, 2020. You will receive a confirmation of your registration by email after Computershare receives your registration materials. Requests for registration should bring both an account statement or a letterbe directed to Computershare in the following manner: (1) by email: Forward the email from the record holder indicating that you owned the shares as of the record date,and contact theyour broker, or other nominee who holdsattach an image of your shareslegal proxy, to obtain a broker's proxy card and bring it with you to the meeting.legalproxy@computershare.com; or (2) by mail: Computershare, Replimune Group, Inc. Legal Proxy, P.O. Box 43001, Providence, RI 02940-3001.
What are the Board's recommendations on how to vote my shares?
The Board recommends a vote:
Who pays the cost for soliciting proxies?
Replimune will bear the cost of solicitation of proxies. This includes the charges and expenses of brokerage firms and others for forwarding solicitation material to beneficial owners of our outstanding common stock. Replimune may solicit proxies by mail, personal interview, telephone or via the Internet through its officers, directors and other management employees, who will receive no additional compensation for their services.
Can I change or revoke my vote?
You may revoke your proxy at any time before it is voted by notifyingdelivering written notice to our Investor Relations at Replimune in writingteam at our principal executive offices, by returning a signed proxy with a later date, by transmitting a subsequent vote over the Internet or by telephone prior to the close of the Internet voting facility or the telephone voting facility, or by attending the meeting and voting in person.electronically during the Annual Meeting. If your stock is held in street name, you must contact your broker or nominee for instructions as to how to change or revoke your vote.
The presence in person or by proxy, of holders of at least a majority of the issued and outstanding shares entitled to vote is necessary to constitute a quorum for the transaction of business at the 2019 Annual Meeting. Abstentions and "broker non-votes," if any, will be counted as present and entitled to
vote forFor purposes of determining whether a quorum isexists, we count as present forany shares that are voted over the transactionInternet, by telephone or by completion and submission of businessa proxy or that are represented virtually at the 2019 Annual Meeting. Further, for purposes of establishing a quorum, we will count as present shares that a stockholder holds even if the stockholder votes to withhold or abstain or votes on only one of the proposals. In addition, we will count as present shares held in street name by brokers or other nominees that indicate on their proxies that they do not have authority to vote those shares on Proposal No. 1. If a quorum is not present, we expect to adjourn the Annual Meeting until we obtain a quorum.
"Broker non-votes" are shares represented at the 2019 Annual Meeting held by brokers, banks or other nominees (i.e., in "street name") which do not vote on a particular proposal because the nominee does
not have discretionary voting power with respect to that item and has not received instructions from the beneficial owner. Generally, nominees may vote to ratify the selection of independent auditors and on other "discretionary" or "routine" items.(Proposal No. 2). In contrast, nominees may not vote to elect directors (Proposal No. 1), because those proposals arethat proposal is considered a "non-discretionary" items.item. Accordingly, if you do not instruct your broker, bank or other nominee how to vote your shares on "non-discretionary" matters,Proposal No. 1, your broker, bank or other nominee will not be permitted to vote your shares on these matters.this matter. This is a "broker non-vote."
What vote is required to approve each item?
Required Vote—Election of Directors (Proposal No. 1). Directors will be elected by a plurality of the votes cast in personelectronically or represented by proxy at the 2019 Annual Meeting and entitled to vote on the election of directors. This means that the threefour individuals receiving the highest number of "FOR" votes will be elected as directors. Votes that are withheld and broker non-votes will not be treated as votes cast for this purpose and, therefore, will not affect the outcome of the election.
Required Vote—Amendment of our certificate of incorporation (Proposal No. 2). The affirmative vote of at least seventy-five percent (75%) of the outstanding shares of our capital stock present in person or represented by proxy at the 2019 Annual Meeting and entitled to vote is required to approve the amendment of our certificate of incorporation. An abstention is treated as present and entitled to vote and, therefore, has the effect of a vote "against" the amendment of our certificate of incorporation. Broker non-votes will not be treated as votes cast for this purpose and, therefore, will not affect the outcome of the proposal.
Required Vote—Ratification of the Selection of Independent Registered Public Accounting Firm (Proposal No. 3)2). The affirmative vote of a majority of shares of our common stock present in person or represented by proxy at the 2019 Annual Meeting and entitled to vote is required to ratify the selection of our independent auditors. An abstention is treated as present and entitled to vote and, therefore, has the effect of a vote "against" ratification of the independent auditors. Because the ratification of the independent auditors is a routine matter, a nominee holding shares in street name may vote on this proposal in the absence of instructions from the beneficial owner.
If there are insufficient votes to approve these proposals, your proxy may be voted by the persons named in the proxy card to adjourn the 2019 Annual Meeting in order to solicit additional proxies in favor of the approval of such proposals. If the 2019 Annual Meeting is adjourned or postponed for any purpose, at any subsequent reconvening of the meeting,Annual Meeting, your proxy will be voted in the same manner as it would have been voted at the original convening of the 2019 Annual Meeting unless you withdraw or revoke your proxy.
Could other matters be decided at the Annual Meeting?
Replimune does not know of any other matters that may be presented for action at the 2019 Annual Meeting. Should any other business properly come before the 2019 Annual Meeting, the persons named on the enclosed proxy will have discretionary authority to vote the shares represented by such proxies in accordance with their best judgment to the same extent as the person signing the proxy would be entitled to vote. If you hold shares through a broker, bank or other nominee, as described above, they will not be able to vote your shares on any other business that comes before the 2019 Annual Meeting unless they receive instructions from you with respect to such matter.
Why hold a virtual Annual Meeting?
As part of our effort to maintain a safe and healthy environment for our directors, employees and stockholders who wish to attend the Annual Meeting, in light of COVID-19, we believe that hosting a virtual meeting this year is in our best interest and the best interest of our stockholders. A virtual meeting also enables increased stockholder attendance and participation because stockholders can participate from any location around the world. You will be able to attend the Annual Meeting online and submit your questions by visiting www.meetingcenter.io/268991760. The password for the meeting is REPL2020. You also will be able to vote your shares electronically at the Annual Meeting by following the instructions above.
What if during the check-in time or during the Annual Meeting I have technical difficulties or trouble accessing the virtual meeting website?
We will have technicians ready to assist you with any technical difficulties you may have accessing the virtual meeting website, and the information for assistance will be located at the following website: https://support.vevent.com/.
What happens if the meeting is postponed or adjourned?
Your proxy may be voted at the postponed or adjourned meeting. You will still be able to change your proxy until it is voted.
What does it mean if I receive more than one proxy card or voting instruction form?
It means that you have multiple accounts at the transfer agentwith Computershare or with brokers. Please complete and return all proxy cards or voting instruction forms to ensure that all of your shares are voted.
Where can I find the voting results of the meeting?Annual Meeting?
The preliminary voting results will be announced at the 2019 Annual Meeting. The final results will be disclosed in a Current Report on Form 8-K filed with the Securities Exchange Commission (the "SEC") within four business days after the 2019 Annual Meeting date.
What are the implications of being an "emerging growth company" and a "smaller reporting company"?
We are an "emerging growth company" as that term is used in the Jumpstart Our Business Startups (JOBS) Act of 2012 and, as such, have elected to comply with certain reduced public company reporting requirements. These reduced reporting requirements include reduced disclosure about Replimune'sour executive compensation arrangements and no non-binding advisory votes on executive compensation. We will remain an emerging growth company until the earlier of (1) March 31, 2024, (2) the last day of the fiscal year (a) in which we have total annual gross revenue of at least $1.07 billion, or (b) in which we are deemed to be a large accelerated filer, which means the market value of our common stock that is held by non-affiliates exceeds $700.0 million as of the prior September 30th, and (3) the date on which we have issued more than $1.0 billion in non-convertible debt during the prior three-year period.
Additionally, we are also a "smaller reporting company" as that term is defined in Regulation S-K. We will remain a smaller reporting company if we have (1) less than $250 million in market value of our shares held by non-affiliates as of the last business day of our second fiscal quarter or (2) less than $100 million of annual revenues in our most recent fiscal year completed before the last business day of our second fiscal quarter and less than $700 million in market value of our shares held by non-affiliates as of the last business day of our second fiscal quarter. If we are a smaller reporting company at the time we cease to be an emerging growth company, we may continue to rely on exemptions from certain disclosure requirements that are available to smaller reporting companies. Specifically, as a smaller reporting company we may choose to present only the two most recent fiscal years of audited financial statements in our Annual Report on Form 10-K and, similar to emerging growth companies, smaller reporting companies have reduced disclosure obligations regarding executive compensation.
Who should I call if I have any additional questions?
If you hold your shares directly, please call Investor Relations at +1 (339) 970-2843. If your shares are held in street name, please contact the telephone number provided on your voting instruction form or contact your broker or nominee holder directly.
Important Notice Regarding the Availability of Proxy Materials for the20192020 Annual Meeting of Stockholders to be Held on September 4, 20199, 2020
The Notice of 2019 Annual Meeting of Stockholders, this Proxy Statement and our Annual Report on Form 10-K for the fiscal year ended March 31, 20192020 are available free of charge at www.envisionreports.com/REPL or at www.replimune.com under "Investors and Media" at "Financials & Filings."
PROPOSAL NO. 1—ELECTION OF DIRECTORS
In accordance with Replimune's certificate of incorporation and bylaws, each as currently amended and in effect, the Board is divided into three classes of directors of approximately equal size. The members of each class of directors are elected to serve a three-year term with the term of office of each class ending in successive years. Philip Astley-Sparke, Kapil Dhingra,Jason Rhodes, Sander Slootweg, and Joseph SlatteryOtello Stampacchia are the Class III directors whose terms expire at the 2019 Annual Meeting. Additionally, the term of office of Paolo Pucci, who was appointed as a director by the Board on April 1, 2020 to fill a vacancy resulting from an increase in the size of the Board from nine members to ten, also expires at the Annual Meeting.
Each of Philip Astley-Sparke, Kapil Dhingra,Paolo Pucci, Jason Rhodes, Sander Slootweg, and Joseph SlatteryOtello Stampacchia has been nominated for, and has agreed to stand for, election to the Board to serve as a Class III director of Replimune for three years until the 20222023 Annual Meeting of Stockholders and until theirhis respective successors aresuccessor is duly elected and qualified or until his earlier death, resignation or removal.
It is intended that, unless you give contrary instructions, shares represented by proxies will be voted for the election of each of the threefour nominees listed above as director nominees. Replimune has no reason to believe that any nominee will be unable to serve. In the event that one or more nominees is unexpectedly not available to serve, proxies may be voted for another person nominated as a substitute by the Board, or the Board may reduce the number of directors to be elected at the 2019 Annual Meeting. Information relating to each nominee for election as director and for each continuing director,nominee, including his period of service as a director of Replimune, principal occupation and other biographical material, is included below.
A plurality of the votes cast at the meeting will be required for the election of the Class III director nominees. The threefour nominees for director with the highest number of affirmative votes will be elected as directors.directors of Replimune. Broker non-votes and abstentionsvotes withheld will not be treated as votes cast for this purpose and, therefore, will not affect the outcome of the election.
THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT YOU VOTE "FOR"
EACH OF THESE NOMINEES FOR CLASS III DIRECTOR.
(PROPOSAL NO. 1 ON YOUR PROXY CARD)
Board Composition and Structure
Our certificate of incorporation and bylaws, each as currently amended and in effect, state that our Board will consist of a number of directors that will be fixed exclusively by the Board from time to time in accordance with the bylaws of the Company. Each director holds office until his successor is duly elected and qualified or until his death, incapacity, resignation or removal. Our certificate of incorporation, as currently amended and in effect, provides that our directors may be removed only for cause by the affirmative vote of the holders of at least 75% of the voting power of the outstanding shares of our capital stock of Replimune entitled to vote in the election of directors, voting together as a single class, at a meeting of the stockholders called for that purpose. Any vacancy in the Board, including a vacancy that results from an increase in the number of directors, may be filled only by the vote of a majority of the remaining directors then in office, although less than a quorum, or by the sole remaining director.
Our certificate of incorporation, as currently amended and in effect, provides that our Board is divided into three classes of directors, with the classes as nearly equal in number as possible. Each of our directors identified below serves in the class indicated.indicated opposite such director's name. Subject to any earlier resignation or removal in accordance with the terms of our certificate of incorporation and bylaws, our current Class III directors, if elected, will serve until the 20222023 Annual Meeting of Stockholders; our current Class III directors will serve until the 20202022 Annual Meeting of Stockholders; and our current Class III directors will serve until the 2021 Annual Meeting of Stockholders. Any additional directorships resulting from an increase in the number of directors will be apportioned by our Board among the three classes as equally as possible.
Our Board is currently comprisedcomposed of nineten members. Below is a list of the names, ages as of July 17, 201928, 2020 and classification of the individuals who currently serve as our directors or are nominees to be elected at the 2019 Annual Meeting.
Name | Age | Position(s) | Class | ||||
---|---|---|---|---|---|---|---|
Philip Astley-Sparke | 49 | Chief Executive Officer and Director | I | ||||
Robert Coffin, Ph.D. | President, Chief | III | |||||
Kapil Dhingra, M.B.B.S.(1)(2) | I | ||||||
Hyam Levitsky, M.D.(3) | 62 | Director | III | ||||
Paolo Pucci(2)(3) | 59 | Director | |||||
Jason Rhodes(2)(3) | |||||||
Director | II | ||||||
Joseph Slattery(1)(2) | Director | I | |||||
Sander Slootweg | Director | II | |||||
Otello Stampacchia, Ph.D.(3) | Director | II | |||||
Dieter Weinand(1) | Director | III |
In consultation with our Nominating and Corporate Governance Committee, the Board has determined that the classified board structure remains appropriate for the Company at this time. A classified board provides for stability, continuity and experience among our Board. Further, the Board believes that building a cohesive board is an important goal. In our industry in particular, long-term focus is critical. The time horizon required for successful development of biologics makes it vital that we have a board that understands the implications of this process and has the ability to develop and implement long-term strategies while benefiting from an in-depth knowledge of Replimune'sour business and operations. A classified board structure helps to ensure that there will be the continuity and
stability of leadership required to navigate a challenging development environment while resisting the pressure to focus on short-term results at the expense of theour long-term value and success of the Company. Thesuccess. Our future success of Replimune depends in significant part on the ability to attract and retain capable and experienced directors. In this regard, we believe that longer terms for our directors enhances director independence from both management and stockholder special interest groups.
Information concerning our continuing directors and director nominees is set forth below. The biographical description of each continuing director and director nominee includes the specific experience, qualifications, attributes and skills that led the Board to conclude that such person should serve as a director.
Class III Directors (Nominees Standing for Re-Election)Re-Election at the Annual Meeting)
Paolo Pucci
Mr. Pucci was appointed as a member of our Board on April 1, 2020 following an increase in the size of our Board from nine members to ten. Prior to his appointment to our Board, Mr. Pucci served as the Chief Executive Officer of ArQule, Inc., a biopharmaceutical oncology and rare diseases company engaged in the research and development of targeted therapeutics, from June 2008 until it was acquired by Merck & Co. in January 2020. Before joining ArQule, Inc., Mr. Pucci worked at Bayer AG from 2001 to 2008, where he served in a number of leadership capacities, including President of the Oncology & Global Specialty Medicines Business Units, and was a member of the Bayer AG Pharmaceuticals Global Management Committee. Before Bayer AG, Mr. Pucci held positions of increasing responsibility with Eli Lilly & Co. from July 1991 to April 2001, culminating with his appointment as Managing Director, Eli Lilly Sweden AB. Mr. Pucci earned an M.S. in economics and accounting from Università degli Study di Napoli Federico II and an M.B.A. in marketing and finance from the University of Chicago. Mr. Pucci has previously served on the boards of directors of ArQule, Inc., Algeta ASA, until its acquisition by Bayer AG, Dyax Inc., until its acquisition by Shire Plc, and NewLink Genetics Inc. He currently serves on the boards of directors of West Pharmaceuticals Services, Inc. and Merus N.V. Mr. Pucci is qualified to serve on our Board because of his extensive leadership experience, his biotechnology company board experience and his experience in management roles at life sciences companies.
Jason Rhodes
Mr. Jason Rhodes has been a member of our Board since 2015 and a partner at Atlas Ventures since 2014. He has been a Founder and Chairman of Generation Bio Co. since 2016, a Founder and Chairman of Disarm Therapeutics, Inc. since 2016, and a Founder and the Executive Chairman of Dyne Therapeutics since 2018. He has been a member of the boards of directors of Gemini Therapeutics, Inc. since 2016 and Accent Therapeutics, Inc. since 2017 and was previously a member of the board of directors of Bicycle Therapeutics Limited from 2015 to 2019. From 2010 to 2014, Mr. Rhodes was at Epizyme, Inc., where he most recently served as President and Chief Financial Officer. He led business development at Alnylam Pharmaceuticals, Inc. from 2007 to 2010. Mr. Rhodes
obtained a B.A. from Yale University in 1991 and an M.B.A. from the Wharton School of the University of Pennsylvania in 1996. Mr. Rhodes is qualified to serve on our Board based on his extensive leadership experience, his biotechnology company board experience and his experience investing in life science companies.
Sander Slootweg
Mr. Sander Slootweg has been a member of our Board since 2015. Mr. Slootweg co-founded Forbion Capital Partners in 2006 and has served as one of its managing partners since that time. Mr. Slootweg has served on the boards of directors of Forbion Capital Partners' portfolio companies, NorthSea Therapeutics, Inc. since 2017, Oxyrane Limited since 2011, and each of Xention Discovery Ltd. and Ario Pharma Ltd. since 2006. Mr. Slootweg served on the boards of directors of uniQure N.V. from 2012 to 2014, Fovea Pharmaceutics S.A. from 2007 until its sale to Sanofi S.A. in 2009, Argenta Discovery Ltd. from 2001 until its sale to Galapagos N.V. in 2010, BioVex Group, Inc. from 2003 until its sale to Amgen, Inc. in 2011, Alantos Pharmaceuticals, Inc. from 2005 until its sale to Amgen, Inc. in 2007, Impella Cardiosystems AG from 2001 until its sale to Abiomed, Inc. in 2005, and Glycart AG from 2003 until its sale to F. Hoffmann-La Roche & Co. in 2005. Mr. Slootweg has also acted as the Chairman of the board of Amsterdam Molecular Therapeutics, the predecessor to uniQure N.V., from 2006 to 2012 and as the Chairman of the board of Dezima Pharma B.V. from 2012 until its sale to Amgen, Inc. in 2015. Before co-founding Forbion Capital Partners, he was an investment director at ABN AMRO Capital Life Sciences from 1999 to 2006. Mr. Slootweg holds degrees in Business and Financial Economics from the Free University of Amsterdam and Business Administration from Nijenrode University, The Netherlands. Mr. Slootweg is qualified to serve on our Board because of his extensive leadership experience, his biotechnology company board experience and his experience investing in life science companies.
Otello Stampacchia, Ph.D.
Dr. Otello Stampacchia has been a member of our Board since 2015. Dr. Stampacchia founded Omega Funds in 2004 and has been a managing member at Omega Fund Management since 2006. Previously, Dr. Stampacchia was in charge of life sciences direct investments at AlpInvest Partners B.V. from 2001 to 2003. Before AlpInvest Partners B.V., from 2000 to 2001, Dr. Stampacchia was the portfolio manager of the Lombard Odier Immunology Fund. Previously, Dr. Stampacchia was a member of the healthcare corporate finance and mergers and acquisitions team at Goldman Sachs Group, Inc. from 1997 to 2000. Before joining Goldman Sachs Group, Inc., Dr. Stampacchia helped co-found the healthcare investment activities at Index Securities, now Index Ventures, Inc. Dr. Stampacchia is currently a member of the boards of directors of Amunix Pharmaceuticals, Inc., Kronos Bio, Inc., Morphic Therapeutic, Inc., and Scorpion Therapeutics, Inc. Dr. Stampacchia previously served on the boards of Gossamer Bio, Inc., ESSA Pharma, Inc., Median Technologies S.A. and Nuvation Bio, Inc. Dr. Stampacchia received a Ph.D. in Molecular Biology from the University of Geneva, Switzerland in 1997 and a Ph.D. in Biotechnology in 1998. Dr. Stampacchia is qualified to serve on our Board because of his extensive leadership experience, his biotechnology company board experience and his experience investing in life science companies.
Current Directors Not Standing for Re-Election at the Annual Meeting
Philip Astley-Sparke
Mr. Philip Astley-Sparke is one of our co-founders and has served as a member of our Executive ChairmanBoard since our formation in 2015.2015 and as our Chief Executive Officer since January 2020. Previously, Mr. Astley-Sparke served as our Executive Chairman from our formation in 2015 to January 2020. Since 2016, Mr. Astley-Sparke has served as Chairman of uniQure N.V., a Nasdaq-listed gene therapy company. From 2013 to 2015, Mr. Astley-Sparke served as uniQure N.V.'s President of U.S. operations,
where he established its U.S. infrastructure. Mr. Astley-Sparke served as Vice President and General Manager at Amgen, Inc. until December 2011, following Amgen Inc.'s acquisition of BioVex Group, Inc. in March 2011. Mr. Astley-Sparke was previously President and Chief Executive Officer of BioVex Group, Inc. Prior to BioVex Group, Inc., Mr. Astley-Sparke was a healthcare investment banker at Chase H&Q and qualified as a Chartered Accountant with Arthur Andersen LLP. Mr. Astley-Sparke has been a Venture Partner at Forbion Capital Partners, a venture capital fund, since May 2012 and servespreviously served as Chairman of the board of directors of Oxyrane Limited, a biotechnology company.company, from 2012 to 2020. Mr. Astley-Sparke received a B.Sc. in Cellular and Molecular Pathology from Bristol University. Mr. Astley-Sparke is qualified to serve on our Board because of his extensive knowledge of our Company based on his role as co-founder and Chief Executive ChairmanOfficer and his extensive financial and leadership experience.
Robert Coffin, Ph.D.
Dr. Robert Coffin is one of our co-founders and has served as a member of our Board since our formation in 2015 and as our President and Chief Research & Development Officer since January 2020. Previously, Dr. Coffin served as our President and Chief Executive Officer from our formation in 2015 to January 2020. From 2013 to 2015, Dr. Coffin served as a consultant for a number of biotechnology companies. From 2011 to 2013, Dr. Coffin served as Vice President of Global Development at Amgen, Inc. In 1999, Dr. Coffin co-founded BioVex Group, Inc., a spin out from his research group at University College London. Dr. Coffin served as the Chief Technology Officer of BioVex Group, Inc. until it was acquired by Amgen, Inc. in 2011. During his time at BioVex Group, Inc., Dr. Coffin invented all BioVex Group, Inc. products and oversaw all research and clinical development, including bringing T-Vec into two pivotal Phase 3 clinical trials. Dr. Coffin was awarded a Ph.D. in Virology from Imperial College London prior to his move to University College London in 1991. Dr. Coffin is qualified to serve on our Board due to his prior experience developing an oncolytic immunotherapy and his extensive knowledge of our Company based on his role as co-founder and President and Chief Research & Development Officer.
Kapil Dhingra, M.B.B.S.
Dr. Kapil Dhingra has been a member of our Board since July 2017. Dr. Dhingra currently serves as the Managing Member of KAPital Consulting, LLC, a healthcare consulting firm that he founded in 2008. Dr. Dhingra also currently serves on the boards of directors of Median Technologies Inc., Five Prime Therapeutics Inc., and Autolus Therapeutics plc, a Nasdaq-listed biopharmaceutical company. Dr. Dhingra previously served as a member of the boardboards of directors of Micromet, Inc., until its acquisition by Amgen, Inc., Advanced Accelerator Applications S.A., until its acquisition by Novartis AG, and YM Biosciences Inc., until its acquisition by Gilead Sciences, Inc., each of which was a public company during Dr. Dhingra's service as a director. From 1999 to 2008, Dr. Dhingra worked at F. Hoffmann-La Roche & Co. where he served as Vice President, Head of the Oncology Disease Biology Leadership Team and Head of Oncology Clinical Development. From 2000 to 2008, he held a Clinical Affiliate appointment at Memorial Sloan Kettering Cancer Center. From 1996 to 1999, Dr. Dhingra worked at Eli Lilly & Co. where he served as Senior Clinical Research Physician. Dr. Dhingra also served as a Clinical Associate Professor of Medicine at the Indiana University School of Medicine from 1997 to 1999. Prior to Eli Lilly & Co., Dr. Dhingra was a member of the faculty of M.D. Anderson Cancer Center from 1989 to 1996. Dr. Dhingra received his M.B.B.S. from the All India Institute of Medical Sciences in New Delhi, India. He completed his residency in Internal Medicine at Lincoln Medical and Mental Health Center and New York Medical College and completed his fellowship in Hematology and Oncology at Emory University School of Medicine. Dr. Dhingra is
qualified to serve on our Board due to his significant experience as a healthcare consultant, his biotechnology company board experience, and his experience as a senior officer of F. Hoffmann-La Roche & Co. and Eli Lilly & Co.
Hyam Levitsky, M.D.
Dr. Hyam Levitsky has been a member of our Board since May 2018. Since May 2019, Dr. Levitsky has served as President, Research and Development at Century Therapeutics, Inc. Dr. Levitsky served as Executive Vice President and Chief Scientific Officer at Juno Therapeutics, Inc. from 2015 to 2018 and was Head of Cancer Immunotherapy Experimental Medicine at F. Hoffmann-La Roche & Co. from 2011 to 2015. Previously, Dr. Levitsky was Professor of Oncology, Medicine, and Urology at The Johns Hopkins University School of Medicine and the Sidney Kimmel Comprehensive Cancer Center in Baltimore, MD where he began as an Assistant Professor of Oncology in 1991 and rose to Professor in 2002. At The Johns Hopkins University, Dr. Levitsky served as Scientific Director of the George Santos Bone Marrow Transplant Program from 2005 to 2011. He served on the External Scientific Advisory Board of the Pasteur Institute's Center for Human Immunology from 2008 to 2010. Dr. Levitsky holds a number of honors including being named a Stohlman Scholar by the Leukemia and Lymphoma Society in 2002, and was elected as a member of the American Society for Clinical Investigation in 2002. Dr. Levitsky received a B.S. from the University of Pennsylvania School of Engineering and Applied Science in 1980 and an M.D. from The Johns Hopkins University School of Medicine in 1984. Dr. Levitsky is qualified to serve on our Board because of his experience in management roles at life sciences companies and extensive academic and professional background in the fields of oncology and immunology.
Joseph Slattery
Mr. Joseph Slattery has been a member of our Board since October 2017 and has severed2017. He previously served as our lead independent director sincefrom March 2019.2019 until March 31, 2020. He has served as Executive Vice President and Chief Financial Officer of TransEnterix, Inc. since 2013.from October 2013 to December 2019. From 2010 to 2013, Mr. Slattery served as Executive Vice President and Chief Financial Officer at Baxano Surgical Inc. Previously, from 1996 to 2007, among other roles, he served as Chief Financial Officer and Senior Vice President of Finance and Information Systems of Digene Corp., which was acquired by Qiagen, N.V. Mr. Slattery has served as a member of the board of directors of CVRx Inc. since 2008 and as a member of the board of directors of Morphic Therapeutic, Inc. since 2019. He was previously a member of the boards of directors of Exosome Diagnostics Inc. from 2013 to 2018, TranS1, Inc. from 2007 to 2010, and Micromet, Inc. from 2007 to 2012, when it was acquired by Amgen, Inc. He earned his Bachelor's Degree in Accounting from Bentley University in 1987 and is a certified public accountant. Mr. Slattery is qualified to serve on our Board based on his experience in public accounting and financial expertise.
Current Directors Not Standing for Re-Election at the 2019 Annual Meeting
Robert Coffin, Ph.D.
Dr. Robert Coffin is one of our co-founders and has served as a member of our Board and as our President and Chief Executive Officer since our formation in 2015. From 2013 to 2015, Dr. Coffin served as a consultant for a number of biotechnology companies. From 2011 to 2013, Dr. Coffin served as Vice President of Global Development at Amgen, Inc. In 1999, Dr. Coffin co-founded BioVex Group, Inc., a spin out from his research group at University College London. Dr. Coffin served as the Chief Technology Officer of BioVex Group, Inc. until it was acquired by Amgen, Inc. in 2011. During his time at BioVex, Inc., Dr. Coffin invented all BioVex, Inc. products and oversaw all research and clinical development, including bringing T-Vec into two pivotal Phase 3 clinical trials. Dr. Coffin was awarded a Ph.D. in Virology from Imperial College London prior to his move to University College London in 1991. Dr. Coffin is qualified to serve on our Board due to his prior experience developing an oncolytic immunotherapy and his extensive knowledge of our Company based on his role as co-founder and President and Chief Executive Officer.
Hyam Levitsky, M.D.
Dr. Hyam Levitsky has been a member of our Board since May 2018. Since May 2019, Dr. Levitsky has served as President, Research and Development, at Century Therapeutics, Inc. and is currently an Adjunct Professor of Oncology, Medicine, and Urology at The Johns Hopkins University School of Medicine and the Sidney Kimmel Comprehensive Cancer Center in Baltimore, MD where he began as an Assistant Professor of Oncology in 1991, rose to be a Professor in 2002, and has been an Adjunct Professor since 2011. At Johns Hopkins, Dr. Levitsky served as Scientific Director of the George Santos Bone Marrow Transplant Program from 2005 to 2011. He is a founding member of the Executive Council of the Cancer Immunotherapy Consortium of the Cancer Research Institute where he has served since 2005. Dr. Levitsky is an active member of the American Association of Cancer Research and the American Society of Hematology, and advises the FDA on cancer immunotherapy issues. Previously, Dr. Levitsky served as Executive Vice President and Chief Scientific Officer at Juno Therapeutics, Inc. from 2015 to 2018 and was Head of Cancer Immunotherapy Experimental Medicine at F. Hoffmann-La Roche & Co. from 2011 to 2015. He served on the External Scientific Advisory Board of the Pasteur Institute's Center for Human Immunology from 2008 to 2010. Dr. Levitsky holds a number of honors including being named a Stohlman Scholar by the Leukemia and Lymphoma Society in 2002, and was elected as a member of the American Society for Clinical Investigation in 2002. He was previously an Assistant Chief of Service from 1987 to 1988 and Senior Clinical Fellow
from 1988 to 1991 at The Johns Hopkins Hospital and The Johns Hopkins Oncology Center, respectively. Dr. Levitsky received a B.S. from the University of Pennsylvania School of Engineering and Applied Science in 1980 and an M.D. from The Johns Hopkins School of Medicine in 1984. Dr. Levitsky is qualified to serve on our Board because of his experience in management roles at life sciences companies and extensive academic and professional background in the fields of oncology and immunology.
Jason Rhodes
Mr. Jason Rhodes has been a member of our Board since September 2015 and a partner at Atlas Ventures since 2014. He has been a Founder and Chairman of Generation Bio, Co. since 2016, a Founder and Chairman of Disarm Therapeutics, Inc. since 2016, and a Founder and the Executive Chairman of Dyne Therapeutics since 2018. He has been a member of the boards of directors of Gemini Therapeutics, Inc. since 2016 and Accent Therapeutics, Inc. since 2017 and was previously a member of the board of directors of Bicycle Therapeutics Limited from 2015 to 2019. From 2010 to 2014, Mr. Rhodes was at Epizyme, Inc., where he most recently served as President and Chief Financial Officer. He led business development at Alnylam Pharmaceuticals, Inc. from 2007 to 2010. Mr. Rhodes obtained a B.A. from Yale University in 1991 and an M.B.A. from the Wharton School of the University of Pennsylvania in 1996. Mr. Rhodes is qualified to serve on our Board based on his extensive leadership experience, his biotechnology company board experience and his experience investing in life science companies.
Sander Slootweg
Mr. Sander Slootweg has been a member of our Board since 2015. Mr. Slootweg co-founded Forbion Capital Partners in 2006 and has served as one of its managing partners since that time. Mr. Slootweg has served on the boards of directors of Forbion Capital Partners' portfolio companies, NorthSea Therapeutics, Inc. since 2017, Oxyrane Limited since 2011, and each of Xention Discovery Ltd. and Ario Pharma Ltd. since 2006. Mr. Slootweg served on the boards of directors of uniQure N.V. from 2012 to 2014, Fovea Pharmaceutics S.A. from 2007 until its sale to Sanofi S.A. in 2009, Argenta Discovery Ltd. from 2001 until its sale to Galapagos N.V. in 2010, BioVex Group, Inc. from 2003 until its sale to Amgen, Inc. in 2011, Alantos Pharmaceuticals, Inc. from 2005 until its sale to Amgen, Inc. in 2007, Impella Cardiosystems AG from 2001 until its sale to Abiomed, Inc. in 2005, and Glycart AG from 2003 until its sale to F. Hoffmann-La Roche & Co. in 2005. Mr. Slootweg has also acted as the chairman of the board of Amsterdam Molecular Therapeutics, the predecessor to uniQure N.V. from 2006 to 2012 and as the chairman of the board of Dezima Pharma B.V. from 2012 until its sale to Amgen, Inc. in 2015. Before co-founding Forbion Capital Partners, he was an investment director at ABN AMRO Capital Life Sciences from 1999 to 2006. Mr. Slootweg holds degrees in Business and Financial Economics from the Free University of Amsterdam and Business Administration from Nijenrode University, The Netherlands. Mr. Slootweg is qualified to serve on our Board because of his extensive leadership experience, his biotechnology company board experience and his experience investing in life science companies.
Otello Stampacchia, Ph.D.
Dr. Otello Stampacchia has been a member of our Board since May 2015. Since 2006, Dr. Stampacchia has been a managing member at Omega Fund Management. Previously, Dr. Stampacchia was in charge of life sciences direct investments at AlpInvest Partners B.V. from 2001 to 2003. Before AlpInvest Partners B.V., from 2000 to 2001, Dr. Stampacchia was the portfolio manager of the Lombard Odier Immunology Fund. Previously, Dr. Stampacchia was a member of the healthcare corporate finance and mergers and acquisitions team at Goldman Sachs Group, Inc. from 1997 to 2000. Before joining Goldman Sachs Group, Inc., Dr. Stampacchia helped co-found the healthcare investment
activities at Index Securities, now Index Ventures, Inc. Dr. Stampacchia is currently a member of the boards of directors of Kronos Bio, Inc., Gossamer Bio, Inc., Morphic Therapeutic, ESSA Pharma, Inc., and Median Technologies S.A. Dr. Stampacchia received a Ph.D. in Molecular Biology from the University of Geneva, Switzerland in 1997 and a Ph.D. in Biotechnology in 1998. Dr. Stampacchia is qualified to serve on our Board because of his extensive leadership experience, his biotechnology company board experience and his experience investing in life science companies.
Dieter Weinand
Mr. Dieter Weinand has been a member of our Board since June 2018. Since 2018 and Chairperson since April 2020. From November 2018 to March 2020, Mr. Weinand has beenserved as Executive Vice President, Primary Care of Sanofi S.A. He previously served as President, Pharmaceutical Division at Bayer AG from 2014 to 2018. From 2013 to 2014, Mr. Weinand was President, Global Commercialization at Otsuka Pharmaceutical Co., Ltd. and from 2010 to 2013 Mr. Weinand was President, Primary Care and Asia-Pacific Region at Pfizer Inc. From 2001 to 2010, Mr. Weinand served as President, Senior Vice President, and Vice President of Bristol-Myers Squibb Company. Prior to joining Bristol-Myers Squibb Company, Mr. Weinand was Senior Vice President at F.H. Faulding, Inc. from 2000 to 2001, Managing Director, Director, Vice President, and Senior Director at Warner-Lambert Company, which was acquired by Pfizer Inc. in 2000, during the period from 1994 to 2000, Vice President at Pharmos Corporation during 1994, and Director, Area Business Operations Coordinator, and International Product Manager at Lederle International during the period from 1990 to 1994. Mr. Weinand was previously a member the board of directors of Bayer AG, from 2013 to 2014, and HealthPrize Technologies LLC, from 2014 to 2018. Mr. Weinand received a M.S. in Pharmacology and Toxicology from Long Island University in 1987 and a B.A. from Concordia College in 1982. Mr. Weinand is
qualified to serve on our Board because of his extensive leadership experience, his biotechnology company board experience and his experience in management roles at life sciences companies.
Under the rules and regulations of theThe Nasdaq Stock Market LLC, or Nasdaq, a majority of a listed company's board of directors must be comprisedcomposed of independent directors. In addition, Nasdaq rules require that, subject to specified exceptions, each member of a listed company's audit committee and compensation committee be independent and satisfy additional independence criteria set forth in Rules 10A-3 and 10C-1, respectively, under the Securities Exchange Act of 1934, as amended, or the Exchange Act. Under Nasdaq rules, a director will only qualify as an "independent director" if, in the opinion of that company's board of directors, that person does not have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director.
Based upon information requested from and provided by our directors and nominees concerning their background, employment and affiliations, including family relationships, our Board has determined, upon the recommendation of our Nominating and Corporate Governance Committee, that each of our directors and nominees other than Philip Astley-Sparke, our Chief Executive Officer, and Robert Coffin, Ph.D., our President and Chief ExecutiveResearch & Development Officer, and Philip Astley-Sparke, our Executive Chairman, Secretary, and Treasurer, has no relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director and is independent within the meaning of the director independence standards of Nasdaq and the Securities Exchange Commission, or SEC rules and regulations. Our Board has also determined that each of the current members of our Audit Committee and our Compensation Committee as set forth in the "Board Committees" section below satisfies the independence standards for such committee. In making such determination, our Board considered the relationships that each non-employee director has with Replimune and all other facts and circumstances deemed relevant in determining their independence.
There are no family relationships among any of our directors, nominees or executive officers.
Board Meetings, Attendance and Executive Sessions
The Board held four (4)five (5) meetings and took action by written consent two (2)six (6) times during the fiscal year ended March 31, 2019.2020. All board members attended at least 75% of the meetings of the Board and the committees of the Board on which they served.
Executive sessions, or meetings of the outside (non-management) directors without management present, are held regularly. The non-management directors met in executive session during eachfour (4) of the regularly scheduledfive (5) Board meetings during the fiscal year ended March 31, 2019.
Replimune encourages its2020. We encourage our directors to attend theour Annual Meeting of Stockholders.Stockholders, which we have historically held immediately after a meeting of the Board. As no stockholders attended our 2019 Annual Meeting of Stockholders in person, Philip Astley-Sparke was the only member of the Board who attended the 2019 Annual Meeting of Stockholders in person.
Board of Directors Leadership Structure
The positions of chairmanchairperson of the Board and chief executive officer are presently separated. Our Board recognizes the time, effort and energy that the chief executive officer is required to devote to his position in the current business environment, as well as the commitment required to serve as our chairman,chairperson, particularly as the Board's oversight responsibilities continue to grow. Our Board believes that having separate positions is the appropriate leadership structure for us at this time and demonstrates our commitment to good corporate governance.
Effective as of April 1, 2020, Dieter Weinand was appointed as the Chairperson of the Board. Prior to Mr. Weinand's appointment as the Chairperson of the Board, Philip Astley-Sparke served as the Executive Chairman of the Board and Joseph Slattery served as the lead independent director of the Board. The Board established the position of lead independent director of the Board while Mr. Astley-Sparke servesserved as Executive Chairman of our Board. Given Mr. Astley-Sparke's executive role, the Board has appointed a lead independent directorin order to provide an additional measure of balance,
to ensure the Board's independence, and to enhance the Board's ability to fulfill its management oversight responsibilities. JosephConcurrently with Mr. Weinand's appointment as the Chairperson of the Board, Mr. Slattery currently servesstepped down as the lead independent director. Thedirector of the Board and such position will remain vacant until otherwise determined by the Board. As the lead independent director isduring our fiscal year ended March 31, 2020, Mr. Slattery was responsible for (i) calling and presiding over meetings of the
independent members of the Board; (ii) calling meetings of the Board; (iii) acting as the principal liaison between the independent members of the Board and the executive chairmanchairperson and/or chief executive officer; (iv) advising the executive chairmanchairperson and/or chief executive officer as to the quality, quantity, and timeliness of the flow of information from management to the Board that is necessary for the independent directors to perform their duties effectively and responsibly; (v) advising the executive chairmanchairperson and/or chief executive officer on such other matters deemed appropriate by the lead independent director; and (vi) assuming such other duties as the Board may designate from time to time.
The Board of Directors' Role of the Board in Risk Oversight
The Company'sOur management team is responsible for the day-to-day management of the risks we face, while our Board, as a whole and through committees, has responsibility for the oversight of risk management. Our Board performs this oversight role by using several different levels of review. In connection with its reviews of the operations and corporate functions of our company, our Board addresses the primary risks associated with those operations and corporate functions. In addition, our Board reviews the risks associated with our company's business strategies periodically throughout the year as part of its consideration of undertaking any such business strategies.
The role of the Board in overseeing the management of our risks is conducted primarily through committees of the Board, as described in the descriptions of each of the committees below and in the charters of each such committee. The full Board (or the appropriate Board committee in the case of risks that are under the purview of a particular committee) discusses with management our major risk exposures, thetheir potential impact on us, and the steps we take to manage them. When a Board committee is responsible for evaluating and overseeing the management of a particular risk or risks, the chairperson of the relevant committee reports on the discussion to the full Board during the committee reports portion of the next Board meeting. This enables the Board and its committees to coordinate the risk oversight role, particularly with respect to risk interrelationships.
Our Board has established an Audit Committee, a Compensation Committee, and a Nominating and Corporate Governance Committee, each of which operates pursuant to a charter adopted by our Board. Each committee reviews and assesses the adequacy of its charter annually and recommends any proposed changes to the Board for approval. The charters for the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee are all available on our website at www.replimune.com under "Investors and Media" at "Corporate Governance."
The composition and responsibilities of each committee are described below. Members serve on these committees until their resignation or until otherwise determined by our Board. The following table describes which directors serve on each of the Board committees.
Name: | Nominating and Corporate Governance | Compensation | Audit Committee | |||||||
---|---|---|---|---|---|---|---|---|---|---|
Kapil Dhingra, M.B.B.S. | X | X | ||||||||
Hyam Levitsky, M.D. | X | |||||||||
Jason Rhodes | X | |||||||||
Joseph Slattery | X | X | ||||||||
Otello Stampacchia, Ph.D. | ||||||||||
Dieter Weinand | X | |||||||||
Paolo Pucci | X | X |
Audit Committee
Our Audit Committee provides oversight of our accounting and financial reporting process, the audit of our financial statements and our internal control function. Among other matters, the Audit Committee is responsible for the following:
The current members of our Audit Committee are Kapil Dhingra, Dieter Weinand, and Joseph Slattery, who is the chairchairperson of the Audit Committee. All members of our Audit Committee meet the requirements for financial literacy under the applicable rules and regulations of the SEC and Nasdaq. Our Board has determined that Mr. Slattery is an audit committee financial expert as defined under the applicable rules of the SEC and has the requisite financial sophistication under the applicable rules and regulations of Nasdaq as a result of, among other things, his senior-level executive experience, including his service as Chief Financial Officer of TransEnterix, Inc. sincefrom 2013 to 2019 and Baxano Surgical Inc. from 2010 to 2013, and Chief Financial Officer and Senior Vice President of Finance and Information Systems of Digene Corp until 2007. All of the members of our Audit
Committee are independent directors as defined under the applicable rules and regulations of the SEC and Nasdaq.
During the fiscal year ended March 31, 2019,2020, the Audit Committee met five (5)four (4) times and did not take action by written consent. The report of the Audit Committee is included in this Proxy Statement under "Audit Committee Report."
Compensation Committee
Our Compensation Committee adopts and administers the compensation policies, plans and benefit programs for our executive officers and all other members of our executive team. Our Compensation Committee is also responsible for making recommendations regarding non-employee director compensation to the full Board. In addition, among other things, our Compensation Committee evaluates annually, in consultation with the Board, the performance of our Chief Executive Officer, reviews and approves corporate goals and objectives relevant to compensation of our Chief Executive Officer and other executives and evaluates the performance of these executives in light of those goals and objectives. Our Compensation Committee also administers our equity compensation plans. The current members of our Compensation Committee are Joseph Slattery, Jason Rhodes,Paolo Pucci, and Kapil Dhingra, who is the chairchairperson of the Compensation Committee. All members of our Compensation Committee are independent under the applicable rules and regulations of the SEC and Nasdaq.
During the fiscal year ended March 31, 2019,2020, the Compensation Committee met three (3)two (2) times and took action by written consent two (2) times.
Nominating and Corporate Governance Committee
Our Nominating and Corporate Governance Committee is responsible for, among other things, making recommendations regarding corporate governance, the composition of our Board, the identification, evaluation and nomination of director candidates and the structure and composition of committees of our Board. In addition, our Nominating and Corporate Governance Committee oversees our corporate governance guidelines, reviews and assesses the adequacy of our committee charters, oversees compliance with our code of business conduct and ethics, and contributes to succession planning. The current members of our Nominating and Corporate Governance Committee are Otello Stampacchia,Paolo Pucci, Hyam Levitsky, and Jason Rhodes, who is the chairchairperson of the Nominating and Corporate Governance Committee. All of the members of our Nominating and Corporate Governance Committee are independent under the applicable rules and regulations of Nasdaq.
During the fiscal year ended March 31, 2019,2020, the Nominating and Corporate Governance Committee met three (3) times and did not take any action by written consent.
Policies Governing Director Nominations
Director Nomination Process
Our Board is responsible for selecting its own members. The Board delegates the selection and nomination process to the Nominating and Corporate Governance Committee, with the expectation that other members of the Board and of management will be requested to take part in the process as appropriate. The Nominating and Corporate Governance Committee makes recommendations to the Board regarding the size and composition of the Board. The Nominating and Corporate Governance Committee reviews annually with the Board the composition of the Board as a whole and recommends, if necessary, measures to be taken so that the Board reflects the appropriate balance of expertise, experience, qualifications, diversity and skills required for the Board as a whole and contains at least the minimum number of independent directors required by applicable laws, rules and regulations. The
Unless determined otherwise by the Board, the Nominating and Corporate Governance Committee recommends, and the Board nominates, candidates to stand for election as directors. As two of the three current Class II directors serve on the Nominating and Corporate Governance Committee, the independent members of the Board, and not the Nominating and Corporate Governance Committee, recommended to the Board that the four nominees listed above be nominated for election as Class II directors at the Annual Meeting.
Generally, our Nominating and Corporate Governance Committee identifies candidates for director nominees in consultation with management, through the use of search firms or other advisors, through recommendations submitted by stockholders or through such other methods as the Nominating and Corporate Governance Committee deems to be helpful to identify candidates. Once candidates have been identified, our Nominating and Corporate Governance Committee confirms that the candidates meet all of the minimum qualifications for director nominees established by the Nominating and Corporate Governance Committee. The Nominating and Corporate Governance Committee may gather information about the candidates through interviews, detailed questionnaires, background checks or any other means that the Nominating and Corporate Governance Committee deems to be appropriate in the evaluation process. The Nominating and Corporate Governance Committee then meets as a group to discuss and evaluate the qualifications and skills of each candidate, both on an individual basis and taking into account the overall composition and needs of the Board. Based on the results of the evaluation process, the Nominating and Corporate Governance Committee recommends to the Board for approval candidates as director nominees for election to the Board. Paolo Pucci, our director nominee, was identified and recommended to the Nominating and Corporate Governance Committee by one of our non-employee directors. Our Nominating and Corporate Governance Committee evaluated Mr. Pucci's qualifications to serve as a member of our Board and recommended that our Board approve him as a director nominee for election to our Board at the Annual Meeting.
Stockholders may also nominate persons to be elected as directors. The Nominating and Corporate Governance Committee will consider director candidates recommended by our stockholders in accordance with our bylaws. If a stockholder wishes to nominate a person for election as director, such stockholder must follow the procedures contained in our bylaws. In evaluating candidates recommended by our stockholders, the Nominating and Corporate Governance Committee applies the same criteria set forth below under "Minimum Qualifications." To nominate a person to stand for
election as a director, a stockholder must provide our Secretary with timely notice of the nomination and the notice must include the information required by Section 2.12(b) of our bylaws.
Additional information regarding requirements for stockholder nominations for next year's annual meeting is described in this Proxy Statement under "General Matters—Stockholder Proposals and Nominations."
Minimum Qualifications
In considering whether to recommend any particular candidate for inclusion in the slate of recommended director nominees for the Board, our Nominating and Corporate Governance Committee may consider certain criteria set forth in the Nominating and Corporate Governance Committee Charter. These criteria include the Board's size and current composition; corporate governance policies; applicable Nasdaq listing standards and SEC rules and regulations; a candidate's individual director performance, expertise, experience, qualifications, attributes, diversity, skills and willingness to serve actively; the number of other public and private boards on which a candidate sits; and the absence of potential conflicts with our interests. The Board does not assign specific weights to particular criteria and no particular criterion is a prerequisite for any prospective nominee.
In evaluating proposed director candidates, our Nominating and Corporate Governance Committee may consider, in addition to the minimum qualifications and other criteria for board membership
approved by the Board from time to time, all facts and circumstances that it deems appropriate or advisable, including, among other things, diversity, not limited to race, gender or national origin. We have no formal policy regarding board diversity. Our Nominating and Corporate Governance Committee's and our Board's priority in selecting Board members is the identification of persons who will further the interests of our stockholders through their established record of professional accomplishment, the ability to contribute positively to the collaborative culture among our Board members, knowledge of our business, understanding of the competitive landscape, and professional and personal experiences and expertise relevant to our growth strategy. The Nominating and Corporation Governance Committee will consider candidates recommended by stockholders.
Communication with the Board of Directors
Stockholders wishing to communicate with our Board may do so by writing to the Board or to the non-employee members of the Board as a group, at:
Replimune Group, Inc.18 Commerce Way500 Unicorn Park
Woburn, MA 01801
Attention: Investor Relations
The communication must prominently display the legend "BOARD COMMUNICATION" in order to indicate to Investor Relations that it is a communication for the Board. Upon receiving such a communication, Investor Relations will promptly forward the communication to the relevant individual or group to which it is addressed. Certain items that are unrelated to the Board's duties and responsibilities may be excluded, such as spam, junk mail and mass mailings, resumes and other forms of job inquiries, surveys and business solicitations or advertisements. Investor Relations will not forward any communication determined in good faith belief to be frivolous, unduly hostile, threatening, illegal or similarly unsuitable.
Compensation Committee Interlocks and Insider Participation
During the last completed fiscal year Kapil Dhingra, Joseph Slattery, and Jason Rhodes served on the Compensation Committee. None of the members of our Compensation Committee has at any time
during the prior fiscal year been one of our officers or employees. None of the members of the Compensation Committee during the prior fiscal year were formerly one of our officers. None of our executive officers currently serves, or in the past fiscal year has served, as a member of the board or compensation committee of any entity that has one or more executive officers serving on our Board or Compensation Committee.
Code of Business Conduct and Ethics and Corporate Governance Guidelines
We have adopted a code of business conduct and ethics that applies to all of our employees, including our executive officers and directors, and those employees responsible for financial reporting.reporting, and directors. The code of business conduct and ethics is available on our website at www.replimune.com under "Investors and Media" at "Corporate Governance"; or by requesting a copy, free of charge, in writing from Investor Relations at Replimune Group, Inc., 18 Commerce Way,500 Unicorn Park, Woburn, MA 01801. We intend to post on our website any amendment to, or waiver under, a provision of the code of business conduct and ethics that applies to certain of our executive officers within four business days following the date of such amendment or waiver.
A copy of our corporate governance guidelines may also be accessed free of charge by visiting our website at www.replimune.com under "Investors and Media" at "Corporate Governance" or by requesting a copy from Investor Relations at our principal executive offices above.
Anti-Hedging and Pledging Policy
Pursuant to our Insider Trading Policy, we prohibit our employees, our executive officers, members of the Board, and certain consultants and contractors from engaging in any hedging or monetization transactions relating to our securities, including through the use of financial instruments such as prepaid variable forwards contracts, equity swaps, collars and exchange funds. We also prohibit our employees, our executive officers, members of the Board, and certain consultants and contractors from holding our securities in a margin account or otherwise pledging our securities as collateral for a loan.
We pay our non-employee directors retainers in cash. We do not pay any compensation to our President and Chief Executive Officeremployee directors in connection with histheir service on our Board. The compensation that we pay to our President and Chief Executive Officeremployee directors is discussed in the "Executive Compensation" section of this Proxy Statement. For the fiscal year ended March 31, 2019,2020, each non-employee director received an annual retainer fee of $35,000 paid in quarterly installments. In addition, non-employee directors received the following, as applicable:
Non-Employee Director | Annual Fee | |||
---|---|---|---|---|
Lead Independent Director | $ | 17,500 | ||
Chairman of the Audit Committee | $ | 15,000 | ||
Member of the Audit Committee (other than chairman) | $ | 7,500 | ||
Chairman of the Compensation Committee | $ | 10,000 | ||
Member of the Compensation Committee (other than chairman) | $ | 5,000 | ||
Chairman of the Nominating and Corporate Governance Committee | $ | 8,000 | ||
Member of the Nominating and Corporate Governance Committee (other than chairman) | $ | 4,000 |
Non-Employee Director | Annual Fee | |||
---|---|---|---|---|
Lead Independent Director | $ | 17,500 | ||
Chairperson of the Audit Committee | $ | 15,000 | ||
Member of the Audit Committee (other than chairperson) | $ | 7,500 | ||
Chairperson of the Compensation Committee | $ | 10,000 | ||
Member of the Compensation Committee (other than chairperson) | $ | 5,000 | ||
Chairperson of the Nominating and Corporate Governance Committee | $ | 8,000 | ||
Member of the Nominating and Corporate Governance Committee (other than chairperson) | $ | 4,000 |
We also reimburse our non-employee directors for reasonable travel and out-of-pocket expenses incurred in connection with attending Board and committee meetings.
In connection with our initial public offering, each member of our Board received an option to purchase up to 13,500 shares of our common stock, other than Dr. Levitsky and Mr. Weinand, who each received an option to purchase up to 27,000 shares of our common stock, in each case under our 2018 Omnibus Incentive Compensation Plan. Twenty-five percent (25%) of the shares underlying these options vested on July 19, 2019 and the remainder of the shares underlying these option vest in twenty-four (24) equal monthly installments thereafter. In addition, onOn April 1 of each year, each continuing non-employee director who has served on the Board is eligible to receive an option grant to purchase shares of our common stock.stock under our 2018 Omnibus Incentive Compensation Plan. On April 1, 2019,2020, each such director was granted an option to purchase up to 13,50016,500 shares of our common stock, whichother than Joseph Slattery and Dieter Weinand, who received an option to purchase up to 24,249 and 24,750 shares of our common stock, respectively. These options will vest in full upon the first anniversary of the date of grant. In addition, in connection with his appointment as a member of our Board, Paolo Pucci was granted an option to purchase 33,000 shares of our common stock on April 1, 2020. Twenty-five percent (25%) of the shares underlying Mr. Pucci's option vest on the one-year anniversary of the date of grant and the remainder of the shares underlying the option vest in twenty-four (24) equal monthly installments thereafter. The exercise price for each of these option grants wasis equal to the fair market valueclosing price of our common stock on the date of grant. Each such grant was, and each annual grant going forward will be, subject to approval by our Board at the time of grant.
The following table sets forth information regarding compensation earned by our non-employee directors during the fiscal year ended March 31, 2019:2020:
Name | Fees earned in cash ($)(1) | Option Awards ($)(2)(3) | Total ($) | Fees earned in cash ($)(2) | Option Awards ($)(3)(4) | Total ($) | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Kapil Dhingra, M.B.B.S. | 38,574 | 117,585 | 156,159 | 52,500 | 126,495 | 178,995 | ||||||||||||||
Hyam Levitsky, M.D. | 27,360 | 235,170 | 262,530 | 39,000 | 126,495 | 165,495 | ||||||||||||||
Jason Rhodes | 33,678 | 117,585 | 151,263 | 48,000 | 126,495 | 174,495 | ||||||||||||||
Joseph Slattery | 41,240 | 117,585 | 158,825 | 72,500 | 126,495 | 198,995 | ||||||||||||||
Sander Slootweg | 26,892 | 117,585 | 144,477 | 35,000 | 126,495 | 161,495 | ||||||||||||||
Otello Stampacchia, Ph.D. | — | 117,585 | 117,585 | — | 126,495 | 126,495 | ||||||||||||||
Dieter Weinand | 27,477 | 235,170 | 262,647 | 42,500 | 126,495 | 168,995 |
The following table sets forth, as of March 31, 2019,2020, the aggregate number of exercisable and unexercisable option awards outstanding held by our non-employee directors at that time.time:
| Option Awards | ||||||
---|---|---|---|---|---|---|---|
Name(1) | Exercisable | Unexercisable | |||||
Kapil Dhingra, M.B.B.S. | 161,953 | 20,257 | |||||
Hyam Levitsky, M.D. | 13,494 | 27,006 | |||||
Jason Rhodes | 6,743 | 20,257 | |||||
Joseph Slattery | 24,760 | 32,080 | |||||
Sander Slootweg | 6,743 | 20,257 | |||||
Otello Stampacchia, Ph.D. | 6,743 | 20,257 | |||||
Dieter Weinand | 13,494 | 27,006 |
| Option Awards | ||||||
---|---|---|---|---|---|---|---|
Name | Exercisable | Unexercisable | |||||
Kapil Dhingra, M.B.B.S. | 155,210 | 13,500 | |||||
Hyam Levitsky, M.D. | — | 27,000 | |||||
Jason Rhodes | — | 13,500 | |||||
Joseph Slattery | 10,565 | 32,775 | |||||
Sander Slootweg | — | 13,500 | |||||
Otello Stampacchia, Ph.D. | — | 13,500 | |||||
Dieter Weinand | — | 27,000 |
Below is a list of the names, ages as of July 17, 2019,28, 2020, positions, and a brief account of the business experience of the individuals who serve, or have been chosen to serve, as our executive officers.
Name | Age | Position(s) | |||
---|---|---|---|---|---|
Philip Astley-Sparke(1) | 49 | Chief Executive Officer | |||
Robert Coffin, Ph.D.(1) | 55 | President and Chief | |||
Pamela Esposito, Ph.D. | 46 | Chief Business Officer | |||
53 | Chief Financial Officer, Treasurer, Secretary, and Compliance Officer | ||||
Colin Love, Ph.D. | 62 | Chief Operating Officer | |||
Andrea Pirzkall, M.D.(3) | 50 | Chief Medical Officer | |||
Philip Astley-Sparke -- Chief Executive Officer
Please see Mr. Astley-Sparke's biographical information under "Board of Directors—Director Biographies," of this Proxy Statement
Robert Coffin, Ph.D.--President and Chief ExecutiveResearch & Development Officer
Please see Dr. Coffin's biographical information under "Board of Directors—Director Biographies," of this Proxy Statement.
Philip Astley-SparkeJean Franchi --Executive Chairman, Secretary and TreasurerChief Financial Officer
Please see Mr. Astley-Sparke's biographicalMs. Jean Franchi has served as our Chief Financial Officer since December 2019. Previously, she was Chief Financial Officer at Merrimack Pharmaceuticals, Inc., a biopharmaceutical company, from August 2017 to June 2019. From August 2015 to July 2017, she served as Chief Financial Officer, Treasurer and Secretary at Dimension Therapeutics, Inc., a biotechnology company. From February 2012 to July 2015, Ms. Franchi served as Chief Financial Officer at Good Start Genetics, Inc., a molecular genetics information under "Boardcompany. From 1995 to 2011, Ms. Franchi held various positions at Sanofi S.A., including Senior Vice President of Directors—Director Biographies,"Corporate Finance, Senior Vice President of this Proxy StatementBusiness Unit Finance, and Vice President of Finance and Controller, Product Line and International Group. Ms. Franchi currently serves on the boards of directors of Biophytis BSA, Visioneering Technologies, Inc., and Biodesix, Inc. Ms. Franchi holds a B.B.A. from Hofstra University.
Pamela Esposito, Ph.D. -- Chief Business Officer
Dr. Pamela Esposito, Ph.D. has served as our Chief Business Officer since 2015. Previously, she was Chief Business Officer at Ra Pharmaceuticals, Inc. from 2013 to 2015. As a member of Ra Pharmaceuticals, Inc.'s senior management team, Dr. Esposito played a leadership role in strategy, helping Ra Pharmaceuticals, Inc. transform from a discovery platform to a clinical-stage company. Prior
to Ra Pharmaceuticals, Inc., from 2010 to 2011, she was Vice President of Business Development at BioVex Group, Inc. Dr. Esposito earned a Ph.D. in Pharmacology from Tufts University School of Medicine in 2002 and a B.A. in Biochemistry/Molecular Biology from Dartmouth College.
Colin Love, Ph.D.--Chief Operating Officer
Dr. Colin Love, Ph.D. has served as our Chief Operating Officer since October 2015 and has been a member of the Boardboards of directors of Replimune Limited and Replimune (Ireland) Ltd. since July 2017.2017 and October 2019, respectively. Following the acquisition of BioVex Group, Inc. by Amgen, Inc. in 2011, Dr. Love remained at Amgen, Inc. as Vice President of Clinical Operations, working on T-Vec until it was approved in 2015. Since 2014, Dr. Love has also provided consulting support to biotechnology companies through Clove Consulting Ltd. From 2000 until it was acquired in 2011, Dr. Love served as Senior Vice President of Product Development at BioVex Group, Inc. Dr. Love received a B.Sc. in Biochemistry and a Ph.D. in Biochemistry from Glasgow University.
Pamela Esposito, Ph.D.Andrea Pirzkall, M.D. --Chief Business Officer
Dr. Pamela Esposito, Ph.D. has served as our Chief Business Officer since November 2015. Previously, she was Chief Business Officer at Ra Pharmaceuticals, Inc. from 2013 to 2015. As a member of Ra Pharmaceuticals, Inc.'s senior management team, Dr. Esposito played a leadership role in strategy, helping Ra Pharmaceuticals, Inc. transform from a discovery platform to a clinical-stage company. Prior to Ra Pharmaceuticals, Inc., from 2010 to 2011, she was Vice President of Business Development at BioVex Group, Inc. Dr. Esposito earned a Ph.D. in Pharmacology from Tufts University School of Medicine in 2002 and a B.A. in Biochemistry/Molecular Biology from Dartmouth College.
Howard Kaufman, M.D.--Chief Medical Officer
Dr. Howard L. KaufmanAndrea Pirzkall, M.D. joined usour management team in a part-time capacity in July 2020 and we expect that she will transition to full time service in August 2020. Prior to joining Replimune, Dr. Pirzkall served as ChiefExecutive Director, Clinical Development at BeiGene, Ltd. from August 2017 to July 2020, where she focused on the development of anti-PD-1 therapies and served on the BeiGene, Ltd./Celgene Corporation joint development committee. From September 2007 to August 2017, Dr. Pirzkall held various positions of increasing responsibility at Genentech, Inc., starting as an Assistant Medical Officer in September 2017. He has beenDirector and rising to become Principal Medical Director, where she led the Editor-In-Chiefdevelopment of the Journalseveral novel biologic agents. From 2002 to 2003, she served part-time as Director, Clinical Affairs at DxTx Medical, Inc., a medical device company. From 2001 to 2012, Dr. Pirzkall was an Associate Adjunct Professorship of Targeted Therapies in CancerRadiation Oncology, Radiology, and a Senior Associate EditorNeurosurgery at the JournalUniversity of Translational Medicine since 2007. Most recently,California, San Francisco, where she completed a fellowship in Radiation Oncology and Medical Physics. Dr. Kaufman was Associate Director for Clinical Science of the RutgersPirzkall obtained her M.D. from Friedrich-Schiller University and completed her residency and dissertation in Radiation Oncology at Ruprecht-Karls University & German Cancer Institute of New Jersey from 2014 to 2017. He previously was a leading academic in the study of tumor immunotherapy and the optimization of viral vectors for theResearch Center.
treatment of cancer from 1997 to 2017. He was President of the Society for Immunotherapy of Cancer from 2014 to 2016. He previously was the Cancer Center Director and Associate Dean of Rush University Medical Center from 2009 to 2013. Dr. Kaufman has published over 400 peer-reviewed scientific papers, books, and review articles and serves on the editorial board of the Journal for Immunotherapy of Cancer. Dr. Kaufman received his Medical Degree from Loyola University in 1986, completed General Surgery residency at Boston University and fellowship training in Tumor Immunology and Surgical Oncology at the National Cancer institute.
Stephen Gorgol --Chief Accounting Officer
Mr. Stephen Gorgol has served as our Chief Accounting Officer since October 2016. Previously, Mr. Gorgol was Vice President, Finance and Administration at uniQure, Inc. from April 2013 to May 2016. Prior to uniQure, Inc., Mr. Gorgol was the Chief Financial Officer of BioVex Group, Inc. from May 2005 until it was acquired by Amgen, Inc. in 2011. Mr. Gorgol earned a B.S. in Accounting at the Plymouth State University in 1980.
The following table sets forth information about compensation awarded or paid to our named executive officers for the fiscal years ending March 31, 20182019 and 2019.2020.
Name and Principal Position | Year | Base Salary ($) | Bonus ($) | Option Awards(1) ($) | Non-Equity Incentive Plan Compensation(2) ($) | All Other Compensation ($) | Total ($) | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Robert Coffin, Ph.D. | 2019 | 477,991 | — | 1,548,750 | 238,996 | — | 2,265,737 | |||||||||||||||
President, Chief Executive | 2018 | 389,478 | — | 592,000 | 146,817 | — | 1,128,295 | |||||||||||||||
Officer and Director | ||||||||||||||||||||||
Philip Astley-Sparke | 2019 | 382,393 | — | 1,239,000 | 191,198 | — | 1,812,591 | |||||||||||||||
Executive Chairman, Treasurer, | 2018 | 254,687 | — | 166,500 | 83,765 | — | 504,952 | |||||||||||||||
Secretary and Director | ||||||||||||||||||||||
Howard Kaufman, M.D.(3) | 2019 | 406,000 | — | 1,327,500 | 142,100 | — | 1,875,600 | |||||||||||||||
Chief Scientific Officer | ||||||||||||||||||||||
Colin Love, Ph.D. | 2019 | 310,641 | (4) | — | 885,000 | 108,725 | (4) | — | 1,304,366 | |||||||||||||
Chief Operating Officer | 2018 | 311,834 | (4) | — | 277,500 | 101,784 | (4) | — | 691,118 |
Name and Principal Position | Year | Base Salary ($) | Bonus ($) | Option Awards(1) ($) | Non-Equity Incentive Plan Compensation(2) ($) | All Other Compensation ($) | Total ($) | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Philip Astley-Sparke | 2020 | 437,754 | — | 1,541,213 | 176,196 | — | 2,155,164 | |||||||||||||||
Chief Executive Officer | 2019 | 382,393 | — | 1,239,000 | 191,198 | — | 1,812,591 | |||||||||||||||
Robert Coffin, Ph.D. | 2020 | 517,500 | — | 2,208,351 | 208,294 | — | 2,934,145 | |||||||||||||||
President and Chief Research & Development Officer | 2019 | 477,991 | — | 1,548,750 | 238,996 | — | 2,265,737 | |||||||||||||||
Jean Franchi(3) | 2020 | 132,377 | — | 1,627,200 | 42,625 | — | 1,802,202 | |||||||||||||||
Chief Financial Officer | ||||||||||||||||||||||
Pamela Esposito, Ph.D.(3) | 2020 | 362,500 | — | 762,802 | 102,134 | — | 1,227,437 | |||||||||||||||
Chief Business Officer | ||||||||||||||||||||||
Howard Kaufman, M.D.(4) | 2020 | 315,000 | — | 810,635 | — | 149,025 | (5) | 1,274,660 | ||||||||||||||
Former Chief Medical Officer | 2019 | 406,000 | — | 1,327,500 | 142,100 | — | 1,875,600 |
Our executive compensation philosophy is to generally provide compensation and benefit levels that will attract, retain, motivate and reward a highly talented executive team within the context of responsible cost management; establish a direct link between our individual/team performance and results and our executives' compensation; and align the interests and objectives of our executives with those of our stockholders by linking executive equity awards to stockholder value creation. The compensation philosophy for our executive officers is composed primarily of the following three main components: base salary, annual cash incentives and long-term equity incentives. In 2018,2019, as part of our annual evaluation of executive compensation, we engaged Pearl Meyer, an independent executive
compensation consultant, to provide advice and recommendations relating to our executive officer compensation arrangements. Pearl Meyer previously provided us with guidance on executive officer compensation in connection with our initial public offering. Pearl Meyer assisted the Compensation Committee in evaluating the Company'sour executive officer compensation for alignment with governance and market best practices, and to provide recommendations on the appropriate compensation philosophy to guide the Compensation Committee in determining executive officer compensation.
Base Salary
The base salaries for the fiscal year ended March 31, 2019,2020 were determined for each named executive officer by the Compensation Committee, which gives consideration to each officer's experience, expertise and performance, as well as market compensation levels for similar positions. The base salaries set forth below take into account an increase of each named executive officer's base salary in connection with our initial public offering.
Name | Base Salary ($) | |||
---|---|---|---|---|
Robert Coffin, Ph.D.,President, Chief Executive Officer and Director | 477,991 | |||
Philip Astley-Sparke,Executive Chairman, Treasurer, Secretary and Director | 382,393 | |||
Howard Kaufman, M.D.,Chief Scientific Officer | 406,000 | |||
Colin Love, Ph.D.,Chief Operating Officer | 310,641 | (1) |
Name | Base Salary ($)(1) | |
---|---|---|
Philip Astley-Sparke, Chief Executive Officer | 437,754(2) | |
Robert Coffin, Ph.D., President and Chief Research & Development Officer | 517,500 | |
Jean Franchi, Chief Financial Officer | 132,377 | |
Pamela Esposito, Ph.D., Chief Business Officer | 362,500 | |
Howard Kaufman, M.D., Former Chief Medical Officer | 315,000 |
Annual Performance-Based Incentive Opportunity
In addition to base salaries, our named executive officers are eligible to receive annual performance-based cash incentives, which are designed to motivate our executives to achieve defined annual corporate goals and to reward our executives for their contributions towards the achievement of these goals. The annual performance-based incentive each named executive officer was eligible to receive in respect of services performed during the fiscal year ended March 31, 20192020 was generally based on the extent to which the officer achieved the corporate goals and individual objectives that our Board established at the beginning of the fiscal year and then again after our initial public offering.year. After the end of the fiscal year ended March 31, 2019,2020, our Board reviewed performance against each goal and objective and determined the extent to which each goal and objective was achieved.
InFor our fiscal year ended March 31, 2019,2020, Mr. Astley-Sparke and Dr. Coffin and Mr. Astley-Sparke were eligible to receive a target bonus of up to 50% of their respective base salary, while each of Dr. Love,Ms. Franchi and Dr. Kaufman wasEsposito were eligible to receive a target bonus of up to 40% and 35% of their respective base salary.salary, respectively. Because Dr. Kaufman's service as the Company's Chief Medical Officer terminated on December 31, 2019, Dr. Kaufman was not eligible to receive a bonus for our fiscal year ended March 31, 2020. Our Board reviewed the corporate goals for the fiscal year ended March 31, 20192020 and the individual objectives of each named executive officer and determined that on an overall basis, significant progress had been made towards achieving allmany of those goals. In recognition of these achievements and the efforts of each executive, the committee awarded each of our named executive officers who remained employed by the Company at March 31, 2020, the Compensation Committee awarded each such officer eligible for performance bonuses 100%80.5% of their target bonus opportunity for the fiscal year ended March 31, 2019. For2020. Accordingly, for the fiscal year ended March 31, 2019, Dr. Coffin,2020, Mr. Astley-Sparke, Dr. KaufmanCoffin, Ms. Franchi and Dr. LoveEsposito were paid bonuses of $238,996, $191,198, $142,100$176,196, $208,294, $42,625, and $108,725,$102,134, respectively. The foregoing amount of the bonusDr. Kaufman was not paid to Dr. Love is based on an assumed conversion ratio of British pounds to dollars of 1.302344, which was the exchange rate in effect as of March 31, 2019.a bonus.
Outstanding Equity Awards at Fiscal Year End
The following table provides information about outstanding equity awards held by each of our named executive officers at March 31, 2019.2020.
| Option Awards(1) | Option Awards(1) | ||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Name | Number of Securities Underlying Unexercised Options (#) Exercisable | Number of Securities Underlying Unexercised Options (#) Unexercisable | Option Exercise Price ($) | Option Expiration Date | Number of Securities Underlying Unexercised Options (#) Exercisable | Number of Securities Underlying Unexercised Options (#) Unexercisable | Option Exercise Price ($) | Option Expiration Date | ||||||||||||||||
Philip Astley-Sparke | 59,680 | 29,841 | (2) | 3.30 | 7/26/2027 | |||||||||||||||||||
58,328 | 81,672 | (3) | 15.00 | 7/19/2028 | ||||||||||||||||||||
— | 153,050 | (4) | 15.50 | 4/1/2029 | ||||||||||||||||||||
Robert Coffin, Ph.D. | 132,614 | 185,685 | (2) | 3.30 | 7/26/2027 | 208,068 | 110,231 | (2) | 3.30 | 7/26/2027 | ||||||||||||||
— | 175,000 | (3) | 15.00 | 7/19/2028 | 72,910 | 102,090 | (3) | 15.00 | 7/19/2028 | |||||||||||||||
Philip Astley-Sparke | 37,300 | 52,221 | (2) | 3.30 | 7/26/2027 | |||||||||||||||||||
— | 140,000 | (3) | 15.00 | 7/19/2028 | — | 219,300 | (4) | 15.50 | 4/1/2029 | |||||||||||||||
Howard Kaufman, M.D. | 55,942 | 93,260 | (2) | 3.30 | 9/1/2027 | |||||||||||||||||||
Jean Franchi | — | 180,000 | (5) | 14.08 | 12/09/2029 | |||||||||||||||||||
Pamela Esposito, Ph.D. | 149,203 | — | 1.01 | 11/1/2025 | ||||||||||||||||||||
— | 150,000 | (3) | 15.00 | 7/19/2028 | 109,162 | — | 1.75 | 2/28/2026 | ||||||||||||||||
Colin Love, Ph.D. | 62,164 | 87,039 | (2) | 3.30 | 7/26/2027 | |||||||||||||||||||
— | 100,000 | (3) | 15.00 | 7/19/2028 | 79,773 | 54,508 | 3.30 | 7/26/2027 | ||||||||||||||||
29,164 | 40,836 | (3) | 15.00 | 719/2028 | ||||||||||||||||||||
— | 75,750 | (4) | 15.50 | 4/1/2029 | ||||||||||||||||||||
Howard Kaufman, M.D.(6) | 17,496 | 55,976 | (2) | 3.30 | 7/26/2027 | |||||||||||||||||||
62,500 | 87,500 | (3) | 15.00 | 7/19/2028 | ||||||||||||||||||||
— | 80,500 | (4) | 15.50 | 4/1/2029 |
Our named executive officers did not participate in, or otherwise receive any benefits under, any pension or retirement plan during the fiscal year ended March 31, 2019,2020, other than pursuant to the plans described under "401(k) Plan" and "U.K. Pension Contribution Plan."
Nonqualified Deferred Compensation
Our named executive officers did not participate in, or earn any benefits under, a nonqualified defined contribution or other nonqualified deferred compensation plan during the fiscal year ended March 31, 2019.2020.
We offer a tax-qualified retirement plan that provides eligible U.S. employees with an opportunity to save for retirement on a tax advantaged basis. Eligible employees are able to defer eligible compensation up to certain statutory limits, which are updated annually. We provide matching contributions up to 50% of actual dollars contributed, not to exceed a maximum of 8% of gross salary. Employee contributions are allocated to each participant's individual account and are then invested in selected investment alternatives according to the participant's directions. Employees are immediately and fully vested in their own contributions, but any contributions we make vest ratably over the first five years of service. After five years of service, contributions we make vest 100%.and in our matching contributions. The 401(k) plan is intended to be qualified under Section 401(a) of the Internal Revenue Code, or the Code, with the related trust intended to be tax exempt under Section 501(a) of the Code. As a tax-qualified retirement
plan, contributions to the 401(k) plan are deductible by us when made, and contributions and earnings on those amounts are not taxable to the employees until withdrawn or distributed from the 401(k) plan.
U.K. Pension Contribution Plan
We provide a "stakeholder" pension contribution plan for our employees in the United Kingdom, pursuant to which we match our employees' contributions each year in amounts up to 8% of their annual base salary.
Set forth below are descriptions of the employment agreements that we have entered into with each of our named executive officers, including descriptions of our named executive officers' base salary, target annual bonus opportunity and standard benefit plan participation.
Philip Astley-Sparke
Effective as of October 1, 2015, Replimune, Inc. entered into an employment agreement with Mr. Astley-Sparke. Under Mr. Astley-Sparke's employment agreement, he is entitled to a base salary and is eligible to receive an annual target performance bonus based on a percentage of his base salary, each as determined and may be adjusted by the Compensation Committee. Mr. Astley-Sparke is eligible to participate in our employee benefit plans, practices and programs on a basis which is no less favorable than is provided to our other similarly situated executives.
Mr. Astley-Sparke's employment agreement further provides that in the event his employment is terminated without "cause," as defined in his employment agreement, or he terminates his employment for "good reason," as defined in his employment agreement, and subject to customary conditions, including his execution of an acceptable release, Mr. Astley-Sparke is entitled to receive 12 months of base salary and monthly cash payments equal to the costs of COBRA health continuation for the earlier of six months or until Mr. Astley-Sparke becomes eligible under another employer's group coverage.
In addition, in the event of a change in control of our business, if, within 24 months following such change of control, Mr. Astley-Sparke is terminated without "cause" or he has terminated his employment for "good reason," Mr. Astley-Sparke will be entitled to receive any accrued but unpaid compensation, together with a lump sum payment equal to the sum of Mr. Astley-Sparke's then current annual base salary or, if greater, the base salary for the year immediately preceding, subject to customary conditions, including his execution of an acceptable release. If an excise tax under Section 4999 of the Code is imposed on the payments and benefits payable to Mr. Astley-Sparke in connection with a change in control, Mr. Astley-Sparke will be entitled to a tax gross-up payment for such excise taxes.
Robert Coffin, Ph.D.
Effective as of October 1, 2015, Replimune, Inc. entered into an employment agreement with Dr. Coffin for the position of Chief Executive Officer of Replimune.Coffin. Under Dr. Coffin's employment agreement, he is entitled to a base salary and is eligible to receive an annual target performance bonus based on a percentage of his base salary, each as determined and may be adjusted by the Compensation Committee. Dr. Coffin is eligible to participate in our employee benefit plans, practices and programs on a basis which is no less favorable than is provided to our other similarly situated executives.
Dr. Coffin's employment agreement further provides that in the event his employment is terminated without "cause," as defined in his employment agreement, or he terminates his employment for "good reason," as defined in his employment agreement, and subject to customary conditions, including his execution of an acceptable release, Dr. Coffin is entitled to receive 12 months of base salary and monthly cash payments equal to the costs of COBRA health continuation for the earlier of six months or until Dr. Coffin becomes eligible under another employer's group coverage.
In addition, in the event of a change in control of our business, if, within 24 months following such change of control, Dr. Coffin is terminated without "cause" or he has terminated his employment for "good reason," Dr. Coffin will be entitled to receive any accrued but unpaid compensation, together with a lump sum payment equal to the sum of Dr. Coffin's then current annual base salary or, if greater, the base salary for the year immediately preceding, subject to customary conditions, including his execution of an acceptable release. If an excise tax under Section 4999 of the Code is imposed on the payments and benefits payable to Dr. Coffin in connection with a change in control, Dr. Coffin will be entitled to a tax gross-up payment for such excise taxes.
Philip Astley-SparkeJean Franchi
Effective as of October 1, 2015,December 9, 2019, Replimune, Inc. entered into an employment agreement with Mr. Astley-Sparke for the position of Executive Chairman of Replimune. Mr. Astley-Sparke currently spends 80% of his time working for Replimune.Ms. Franchi. Under Mr. Astley-Sparke'sMs. Franchi's employment agreement, heshe is entitled to a base salary and is eligible to receive an annual target performance bonus based on a percentage of hisher base salary, each as determined and as may be adjusted by the Compensation Committee. Mr. Astley-SparkeMs. Franchi is eligible to participate in our employee benefit plans, practices and programs on a basis which is no less favorable than is provided to our other similarly situated executives.
Mr. Astley-Sparke'sMs. Franchi's employment agreement further provides that in the event hisher employment is terminated without "cause," as defined in hisher employment agreement, or heshe terminates hisher employment
for "good reason," as defined in hisher employment agreement, and subject to customary conditions, including hisher execution of an acceptable release, Mr. Astley-SparkeMs. Franchi is entitled to receive 12 months ofan amount equal to her annual base salary paid in installments over a 12-month period and monthlya lump-sum cash paymentspayment equal to the costs of COBRA premiums that she would pay if she elected continued health continuationcoverage under the Company's health plan for the earlier of six months or until Mr. Astley-Sparke becomes eligible under another employer's group coverage.12-month period following her termination.
In addition, in the event of a change in control of our business, if, within 2412 months following such change of control, Mr. Astley-SparkeMs. Franchi is terminated without "cause" or heshe has terminated hisher employment
for "good reason," Mr. Astley-SparkeMs. Franchi will be entitled to receive any accrued but unpaid compensation, together withan amount equal to her annual base salary and target bonus for the year of termination paid in monthly installments over a lump sum12-month period, and a lump-sum payment equal to the sum of Mr. Astley-Sparke's then current annual base salary or,COBRA premiums she would pay if greater,she elected continued health coverage under the base salaryCompany's health plan for the year immediately preceding,12-month period following her termination, subject to customary conditions, including hisher execution of an acceptable release. If an excise tax under
Further, the employment agreement provides that, in the event that Ms. Franchi becomes entitled to receive payments that constitute "excess parachute payments" within the meaning of Section 4999280G of the Internal Revenue Code is imposed onof 1986, as amended, the aggregate present value of such payments and benefits payable to Mr. Astley-Sparke in connectionwill be reduced only if such reduction will provide Ms. Franchi with a change in control, Mr. Astley-Sparke will be entitled to a tax gross-up payment for such excise taxes.greater net after-tax benefit than would no reduction.
Howard KaufmanPamela Esposito, Ph.D.
Effective as of June 22, 2018,November 1, 2015, Replimune, Inc. entered into an employment agreement with Dr. Kaufman for the position of Chief Medical Officer of Replimune.Esposito. Under Dr. Kaufman'sEsposito's employment agreement, heshe is entitled to a base salary and is eligible to receive an annual target performance bonus based on a percentage of hisher base salary, each as determined and may be adjusted by the Compensation Committee. Dr. KaufmanEsposito is eligible to participate in our employee benefit plans, practices and programs on a basis which is no less favorable than is provided to our other similarly situated executives.
Dr. Kaufman'sEsposito's employment agreement further provides that in the event hisher employment is terminated without "cause," as defined in hisher employment agreement, or heshe terminates hisher employment for "good reason," as defined in hisher employment agreement, and subject to customary conditions, including hisher execution of an acceptable release, Dr. KaufmanEsposito is entitled to receive an amount equal to 0.75 times his annualsix months of base salary paid in installments over a 9-month period and a lump-summonthly cash paymentpayments equal to the costs of COBRA premiums that he would pay if he elected continued health coverage under the Company's health plancontinuation for the 9-month period following his termination.
In addition, in the eventearlier of a change in control of our business, if, within 12six months following such change of control,or until Dr. Kaufman is terminated without "cause" or he has terminated his employment for "good reason," Dr. Kaufman will be entitled to receive any accrued but unpaid compensation, together an amount equal to his annual base salary and target bonus for the year of termination paid in monthly installments over a 12-month period and a lump-sum payment equal to the COBRA premiums he would pay if he elected continued health coverageEsposito becomes eligible under the Company's health plan for the 12-month period following his termination, subject to customary conditions, including his execution of an acceptable release.
Colin Love
Effective as of September 16, 2015, Replimune Limited entered into an employment agreement with Dr. Love for the position of Chief Operating Officer of Replimune. Under Dr. Love's employment agreement, he is entitled to a base salary and is eligible to receive an annual target performance bonus based on a percentage of his base salary, each as determined and may be adjusted by the Compensation Committee. Dr. Love is eligible to participate in our employee benefit plans, practices and programs.
Dr. Love's employment agreement further provides that in the event he is terminated, Dr. Love may be entitled to receive payment in lieu of receiving six months' notice of termination in an amount
equal to his base salary, as at the date of termination, which he would have been entitled to receive during the six-month notice period, less income tax and National Insurance contributions, and subject to customary conditions.
Dr. Love's employment agreement further provides that in the event his employment is terminated without "cause," as defined in his employment agreement, or he terminates his employment for "good reason," as defined in his employment agreement, Dr. Love is entitled to be paid a sum equal to twelve months of his "fixed annual salary," as defined in his employment agreement, less any "payment in lieu," payable in twelve equal monthly installments following his termination.another employer's group coverage.
In addition, in the event of a change in control of our business, if, within twenty-four months following such change inof control, Dr. LoveEsposito is terminated without "cause" or heshe has terminated hisher employment for "good reason," Dr. LoveEsposito will be entitled to receive any accrued but unpaid compensation, together with a lump sum payment equal to twelve monthsthe sum of his "fixedthe Dr. Esposito's then current base salary or, if greater, the base salary for the year immediately preceding, and one hundred percent of her annual salary," less any "payment in lieu," payable within thirty days following his termination.
Pursuant to their employment agreements, our named executive officers arebonus, subject to standard covenantscustomary conditions, including her execution of confidentialityan acceptable release. If an excise tax under Section 4999 of the Code is imposed on the payments and nondisclosure, assignment of intellectual property work product and post-termination noncompetition and non-solicitation of employees, consultants and customers.benefits payable to Dr. Esposito in connection with a change in control, Dr. Esposito will be entitled to a tax gross-up payment for such excise taxes.
Separation Agreement with Howard Kaufman, M.D.
On December 23, 2019, Replimune, Inc. entered into a Separation Agreement (the "Separation Agreement") with Dr. Kaufman pursuant to which we agreed to provide severance to Dr. Kaufman payable in nine successive monthly installments of $35,000 each. Additionally, Dr. Kaufman received a lump sum payment of $9,025, an amount equal to the COBRA premiums that Dr. Kaufman would have paid under our health plan during the nine-month period following the Separation Date, and a lump sum payment of $35,000 for accrued vacation. In accordance with the Separation Agreement, Dr. Kaufman's options to acquire the Company's common stock will continue to vest until September 30, 2020, subject to certain restrictions. Dr. Kaufman may exercise his vested options until December 31, 2020.
The Separation Agreement also includes customary confidentiality, cooperation and non-disparagement covenants as well as a general release.
Dr. Kaufman was retained as a consultant to provide services on an as-needed basis on matters related to medical monitoring, patient eligibility and other clinical trial related activities until September 30, 2020.
In connection with our executive compensation review during the fiscal year ended March 31, 2020, our Compensation Committee engaged Pearl Meyer to provide our Compensation Committee guidance with respect to the development and implementation of our compensation arrangements with our executive officers and other employees.
Our Compensation Committee charter requires that itsthe compensation consultant be independent of Replimuneour management. During the fiscal year ended March 31, 2019,2020, Pearl Meyer did not provide services to us other than the services described in this Proxy Statement. Our Compensation Committee has determined that Pearl Meyer is independent and that its work does not raise any conflict of interest.
The report of the Audit Committee is not "soliciting material," is not deemed "filed" with the SEC and is not to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Securities Exchange Act of 1934, both as amended.
The Audit Committee has reviewed Replimune's audited consolidated financial statements for the year ended March 31, 20192020 and has discussed these statements with management and PricewaterhouseCoopers LLP, or PwC, the Company'sReplimune's independent registered public accounting firm. ReplimuneReplimune's management team is responsible for the preparation of the Company'sReplimune's financial statements and for maintaining an adequate system of disclosure controls and procedures and internal control over financial reporting for that purpose. The independent registered public accounting firm audits the annual consolidated financial statements prepared by management, expresses an opinion as to whether those consolidated financial statements present fairly the consolidated financial position, results of operations and cash flows of Replimune in conformity with U.S. generally accepted accounting principles and discusses any issues they believe should be raised with us. The Audit Committee is responsible for providing independent, objective oversight of the Company'sReplimune's accounting functions and internal controls.
The Audit Committee also received from, and discussed with, PwC the written disclosures and other communications that the Company'sReplimune's independent registered public accounting firm is required to provide to the Audit Committee, including the matters required to be discussed by Statement on Auditing Standards No. 1301, as amended (Communications with Audit Committees), as adopted by the Public Company Accounting Oversight Board, or PCAOB, in Rule 3200T.
PwC also provided the Audit Committee with the written disclosures and the letter required by the PCAOB requiring independent registered public accounting firms to annually disclose in writing all relationships that, in their professional opinion, may reasonably be thought to bear on independence, to confirm their perceived independence and to engage in a discussion of independence. The Audit Committee has reviewed this disclosure and has discussed with PwC their independence from Replimune.
Based on its discussions with management and ourReplimune's independent registered public accounting firm as outlined above, and its review of the representations and information provided by management and ourReplimune's independent registered public accounting firm, the Audit Committee recommended to the Board that the audited consolidated financial statements be included in the ReplimuneReplimune's Annual Report on Form 10-K for the year ended March 31, 2019,2020, for filing with the Securities and Exchange Commission.
Respectfully submitted by the Audit Committee, |
PROPOSAL NO. 2—AMENDMENT OF CERTIFICATE OF INCORPORATION
We are asking our stockholders to approve an amendment (the "Amendment") of our certificate of incorporation. The following description is a summary only and is qualified in its entirety by reference to the complete text of the Amendment appended to this Proxy Statement asAppendix A, which we encourage our stockholders to read in its entirety.
The Amendment would amend and restate Article Eleven of our certificate of incorporation. Currently, Article Eleven, Section 2 provides that, unless the Company consents in writing to the selection of an alternative forum, the federal district courts of the United States of America shall be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act of 1933, as amended. On December 19, 2018, the Chancery Court of Delaware ruled that such exclusive federal forum provisions are invalid under Delaware law. Additionally, the Amendment would provide that the Delaware exclusive forum provision set forth therein will not preclude or contract the scope of exclusive federal or concurrent jurisdiction for actions brought under the Securities Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, or the respective rules and regulations promulgated thereunder, or otherwise limit the rights of any stockholder to bring any claim under such laws, rules or regulations in any United States federal district court of competent jurisdiction. The Board unanimously approved, and recommends that our stockholders approve, the Amendment to amend and restate Article Eleven.
The affirmative vote of at least seventy-five percent (75%) of the outstanding shares of our capital stock present in person or represented by proxy at the 2019 Annual Meeting and entitled to vote is required to approve the Amendment. An abstention is treated as present and entitled to vote and, therefore, has the effect of a vote "against" the Amendment. Broker non-votes will not be treated as votes cast for this purpose and, therefore, will not affect the outcome of the proposal.
THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT YOU VOTE "FOR" THE AMENDMENT OF OUR CERTIFICATE OF INCORPORATION.
(PROPOSAL NO. 2 ON YOUR PROXY CARD)
PROPOSAL NO. 3—2—RATIFICATION OF SELECTION OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM
We are asking our stockholders to ratify the Audit Committee's selection of PricewaterhouseCoopers LLP, or PwC, as our independent registered public accounting firm for the fiscal year ending March 31, 2020.2021. PwC has served as our independent registered public accounting firm since 2018.
The Audit Committee annually reviews the independent registered public accounting firm's independence, including reviewing all relationships between the independent registered public accounting firm and us and any disclosed relationships or services that may impact the objectivity and independence of the independent registered public accounting firm, and the independent registered public accounting firm's performance.
Although stockholder ratification is not required by our bylaws or otherwise, the Board believes it is advisable to provide stockholders an opportunity to ratify this selection and is submitting the selection of PwC to our stockholders for ratification as a matter of good corporate practice. If the selection is not ratified, the Audit Committee will consider whether it is appropriate to select another independent registered public accounting firm, but is not required to do so. Even if the selection is ratified, the Audit Committee in its discretion may select a different registered public accounting firm at any time during the year if the Audit Committee determines that such a change would be in the best interests of Replimune and its stockholders.
We expect that a representative of PwC will attend the 2019 Annual Meeting electronically and will have an opportunity to make a statement if he or she so chooses and will be available to respond to appropriate questions from stockholders.
Policy on Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of Independent Registered Public Accounting Firm
The Audit Committee pre-approves all auditing services, and permitted non-audit services (including the fees and terms thereof) to be performed by PwC, subject to the de minimis exception for non-audit services that are approved by the Audit Committee prior to the completion of an audit. The Audit Committee may delegate pre-approval authority to one or more members of the Audit Committee consistent with applicable law, Nasdaq listing standards and SEC rules and regulations, provided that the decisions of such Audit Committee member or members must be presented to the full Audit Committee at its next scheduled meeting.
Principal Accountant Fees and Services
We regularly review the services and fees of our independent accountants. These services and fees are also reviewed by the Audit Committee on an annual basis. The approximate aggregate fees billed for the fiscal years ended March 31, 20182019 and 20192020 for each of the following categories of services are as follows:
Fee Category | 2018 | 2019 | 2019 | 2020 | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Audit Fees | $ | 1,086,500 | $ | 1,299,000 | $ | 1,299,000 | $ | 879,000 | ||||||
Audit Related Fees | — | — | — | — | ||||||||||
Tax Fees | 29,400 | 47,800 | 47,800 | 33,000 | ||||||||||
All Other Fees | 5,000 | — | — | 1,000 | ||||||||||
| | | | | | | | | | | | | | |
Total Fees | $ | 1,120,900 | $ | 1,346,800 | $ | 1,346,800 | $ | 913,000 | ||||||
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Audit Fees. Consist of aggregate fees for professional services provided in connection with the annual audit of our consolidated financial statements, the review of our quarterly condensed consolidated financial statements, services in connection with our initial public offering that was completed in July 2018, consultations on accounting matters directly related to the audit, and comfort letters, consents and assistance with and review of documents filed with the SEC.
Audit-Related Fees. Consist of aggregate fees for accounting consultations and other services that were reasonably related to the performance of audits or reviews of our consolidated financial statements and were not reported above under "Audit Fees."
Tax Fees. Consist of aggregate fees for tax compliance, tax advice and tax planning services including the review and preparation of our federal and state income tax returns.
All Other Fees. Consist of aggregate fees billed for products and services provided by the independent registered public accounting firm other than those fees disclosed above.
The Audit Committee pre-approved all services performed since the pre-approval policy was adopted.
The affirmative vote of a majority of shares of our common stock present in person or represented by proxy at the 2019 Annual Meeting and entitled to vote is required to ratify the selection of our independent auditors. An abstention is treated as present and entitled to vote and, therefore, has the effect of a vote "against" ratification of the independent auditors. Because the ratification of the independent auditors is a routine matter, a nominee holding shares in street name may vote on this proposal in the absence of instructions from the beneficial owner.
THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT YOU VOTE "FOR" THE
RATIFICATION OF THE APPOINTMENT OF PWC AS THE COMPANY'SREPLIMUNE'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM.
(PROPOSAL NO. 32 ON YOUR PROXY CARD)
BENEFICIAL OWNERSHIP OF COMMON STOCK
The following table sets forth information regarding the beneficial ownership of our common stock as of June 30, 20192020 (unless otherwise specified) by:
Beneficial ownership is determined according to the rules of the SEC and generally means that a person has beneficial ownership of a security if he, she or it possesses sole or shared voting or investment power of that security, including options, pre-funded warrant and warrants that are currently exercisable or exercisable within 60 days after June 30, 2019.2020. Shares of our common stock issuable pursuant to stock options, pre-funded warrants and warrants are deemed outstanding for purposes of computing the percentage of the person holding such options, pre-funded warrants or warrants and the percentage of any group of which the person is a member, but are not deemed outstanding for computing the percentage of any other person. Except as indicated by the footnotes below, we believe, based on the information furnished to us, that the persons named in the table below have sole voting and investment power with respect to all shares of common stock shown that they beneficially own, subject to community property laws where applicable. The information does not necessarily indicate beneficial ownership for any other purpose, including for purposes of Section 13(d) and 13(g) of the Securities Act. As of June 30, 2019,2020, there were 31,666,18240,280,420 shares of
common stock outstanding. Unless otherwise indicated, the address for each beneficial owner is c/o Replimune Group, Inc., 18 Commerce Way,500 Unicorn Park, Woburn, MA 01801.
Beneficial Owner | Number of Shares Beneficially Owned† | Percentage of Shares Beneficially Owned (%) | |||||
---|---|---|---|---|---|---|---|
Greater than 5% Stockholders: | |||||||
Omega Fund IV, L.P.(1) | 5,103,455 | 16.1 | % | ||||
Forbion Capital Fund III Coöperatief U.A.(2) | 4,970,121 | 15.7 | % | ||||
Atlas Venture Fund X, L.P.(3) | 3,822,313 | 12.1 | % | ||||
Bain Capital Life Sciences Fund, L.P. and BCIP Life Sciences Associates, LP(4) | 2,838,968 | 9.0 | % | ||||
Redmile Group, LLC(5) | 2,188,956 | 6.9 | % | ||||
Foresite Capital Fund III, L.P. and Foresite Capital Fund IV, L.P.(6) | 2,009,312 | 6.3 | % | ||||
Biotechnology Value Fund, L.P., Biotechnology Value Fund II, L.P., and Biotechnology Value Trading Fund OS LP(7) | 1,606,817 | 5.1 | % | ||||
Directors and Named Executive Officers: | |||||||
Robert Coffin(8) | 2,625,277 | 8.2 | % | ||||
Philip Astley-Sparke(9) | 1,526,838 | 4.8 | % | ||||
Howard Kaufman(10) | 112,102 | * | |||||
Colin Love(11) | 1,223,811 | 3.9 | % | ||||
Jason Rhodes(12)(3) | 4,457,182 | 14.1 | % | ||||
Sander Slootweg(13)(2) | 4,973,917 | 15.7 | % | ||||
Otello Stampacchia(14)(1) | 5,107,251 | 16.1 | % | ||||
Kapil Dhingra(15) | 159,006 | * | |||||
Hyam Levitsky(16) | 7,593 | * | |||||
Joseph Slattery(17) | 24,133 | * | |||||
Dieter Weinand(18) | 7,593 | * | |||||
All directors and executive officers as a group (13 persons)(8)(9)(10)(11)(12)(13)(14)(15)(16)(17)(18)(19) | 20,713,955 | 63.18 | % |
Beneficial Owner | Number of Shares Beneficially Owned† | Percentage of Shares Beneficially Owned (%) | |||||
---|---|---|---|---|---|---|---|
Greater than 5% Stockholders: | |||||||
Entities affiliated with Atlas Ventures(1) | 4,498,080 | 11.2 | % | ||||
Funds affiliated with BVF Inc.(2) | 2,309,109 | 5.7 | % | ||||
Forbion Capital Fund III Coöperatief U.A.(3) | 5,115,121 | 12.7 | % | ||||
Omega Fund IV, L.P.(4) | 5,323,455 | 13.2 | % | ||||
Redmile Group, LLC(5) | 4,163,593 | 9.99 | % | ||||
Directors, Executive Officers and Named Executive Officers: | |||||||
Philip Astley-Sparke(6) | 1,548,224 | 3.8 | % | ||||
Robert Coffin(7) | 2,599,318 | 6.4 | % | ||||
Jean Franchi | — | * | |||||
Pamela Esposito(8) | 526,256 | 1.3 | % | ||||
Colin Love(9) | 1,244,900 | 3.1 | % | ||||
Andrea Pirzkall | — | * | |||||
Howard Kaufman(10) | 77,010 | * | |||||
Kapil Dhingra(11) | 177,558 | * | |||||
Hyam Levitsky(12) | 31,2019 | * | |||||
Paolo Pucci | — | * | |||||
Jason Rhodes(13)(1) | 4,520,428 | 11.2 | % | ||||
Joseph Slattery(14) | 50,137 | * | |||||
Sander Slootweg(15)(3) | 5,137,469 | 12.7 | % | ||||
Otello Stampacchia(16)(4) | 5,345,803 | 13.3 | % | ||||
Dieter Weinand(17) | 31,209 | * | |||||
All directors and executive officers as a group (15 persons)(6)(7)(8)(9)(10)(11)(12)(13)(14)(15)(16)(17)(18) | 21,289,791 | 50.9 | % |
AVA X LP is the general partner of Omega Fund IV, L.P., or Omega Fund. Omega Fund IV GP Manager, Ltd., or Omega Ltd,Atlas X and AVA X LLC is the general partner of Omega GP. Otello Stampacchia, Richard Lim, and Anne-Mari Paster are the directors of Omega Ltd.AVA X LP. Each of Omega Fund, Omega GP, Omega Ltd, Mr. Stampacchia, Mr. Lim,AVA X LP and Ms. PasterAVA X LLC has voting and dispositive power over the shares held by Atlas X. As such, each of Atlas X, AVA X LP and AVA X LLC may be deemed to beneficially own the shares held by Omega Fund. The address of Omega FundAtlas X and the above named individuals is c/o Omega Fund Management,AVA X LP and AVA X LLC 888 Boylston St., Suite 1111, Boston, MA 02199.
AssociatesAVA X L.P., Atlas Venture Associates X, L.P. is the general partner of Atlas Venture Fund X, L.P., and Atlas Venture Associates X, LLC is the general partner of Atlas Venture Fund X, L.P.LP. Peter Barrett, Bruce Booth, Jean-Francois Formela, Jeff Fagnan, Chris Lynch and Ryan Moore are the members of Atlas Venture Associated X,AVA LLC and collectively make investment decisions on behalf of Atlas VentureX.
AVAO LP is the general partner of AVOF and AVOF LLC is the general partner of AVAO LP. Each of AVAO LP and AVAO LLC has voting and dispositive power over the shares held by AVOF. As such, each of AVOF, AFOF LLC and AVOF LP share voting and dispositive power with respect to the shares held by AVOF. Bruce Booth, Jean-Francois Formela, David Grayzel, Jason Rhodes, and Kevin Bitterman are the members of AVAO LLC and collectively make investment decisions on behalf of AVOF.
The Fund X LLC. EachReporting Persons and the Opportunity Fund Reporting Persons (collectively the Atlas Reporting Persons") are under common control and as a result, the Atlas Reporting Persons may be deemed to be members of a group. However, the Atlas Reporting Persons disclaim such group membership, and this disclosure shall not be deemed an admission that the Atlas Reporting Persons are members of a group for purposes of Section 13 or for any other purposes. Additionally, Jason Rhodes is a member of our board of directors. Mr. Rhodes disclaims beneficial ownership of the shares listed, except to the extent of his pecuniary interest therein. The mailing address of Atlas VentureX and AVOF is 400 Technology Square, 10th Floor, Cambridge, MA 02139.
Mark N. Lampert, as a director and officer of BVF Inc., may be deemed to beneficially own the shares beneficially owned by BVF Inc. The address for each of BVF, BVF2, Partners, BVF Inc., and Atlas Venture Associates X, LLCMr. Lampert is 44 Montgomery St., 40th Floor, San Francisco, California 94104. The address for each of Trading Fund OS and Partners OS is PO Box 309 Ugland House, Grand Cayman, KY1-1104, Cayman Islands.
beneficially owned by Partners. Mark N. Lampert, the director and officer of BVF, Inc., may be deemed to beneficially own the shares beneficially owned by BVF Inc. The foregoing should not be construed in and of itself as an admission by any of the foregoing entities or individuals as to beneficial ownership of any shares owned by another beneficial owner. Partners OS disclaims beneficial ownership of the shares beneficially owned by Trading Fund OS. Each of Partners, BVF Inc. and Mr. Lampert disclaims beneficial ownership of the shares beneficially owned by BVF, BVF2, Trading Fund OS, and the Partners Managed Accounts. The address for each of BVF, BVF2, Partners, BVF Inc., and Mr. Lampert is 44 Montgomery St., 40th Floor, San Francisco, California 94104. The address for each of Trading Fund OS and Partners OS is PO Box 309 Ugland House, Grand Cayman, KY1-1104, Cayman Islands.
CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
Related Party Transactions Policy
Our Board has adopted a policy that our executive officers, directors, nominees for election as a director, beneficial owners of more than 5% of any class of our common stock and any members of the immediate family of any of the foregoing persons are not permitted to enter into a related person transaction with us without the prior review and ratification of our Audit Committee. Any request for us to enter into a transaction with an executive officer, director, nominee for election as a director, beneficial owner of more than 5% of any class of our common stock or any member of the immediate family of any of the foregoing persons in which the amount involved exceeds $120,000 and such person would have a direct or indirect material interest must first be presented to our Audit Committee for review, consideration and approval. In approving or rejecting any such proposal, our Audit Committee is to consider the material facts of the transaction, including, but not limited to, whether the transaction is on terms no less favorable than terms generally available to an unaffiliated third party under the same or similar circumstances and the extent of the related person's interest in the transaction.
During the fiscal year ended March 31, 2019,2020, we were not a party to any transactions or series of similar transactions, in which:
Compensation arrangements for our directors and named executive officers are described elsewhere in this Proxy Statement.
DELINQUENT SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE16(A) REPORTS
Section 16(a) of the Exchange Act requires our executive officers and directors and persons who own more than 10% of a registered class of our equity securities to file initial reports of ownership and reports of changes in ownership with the SEC. Such persons are required by regulation of the SEC to furnish us with copies of all Section 16(a) forms they file. Based solely on our review of the copies of such forms or written representations from certain reporting persons received by us with respect to the fiscal year ended March 31, 2019,2020, our directors, officers and stockholders who own more than 10% of a registered class of our equity securities complied with all applicable filing requirements during the fiscal year ended March 31, 2019.
Table2020, except with respect to a Form 4 filed on behalf of ContentsHoward Kaufman on December 19, 2019.
Availability of Certain Documents
A copy of our Annual Report on Form 10-K for the fiscal year ended March 31, 20192020 has been posted along with this Proxy Statement at www.envisionreports.com/REPL or www.replimune.com under "Investors and Media" at "Financials & Filings." We will mail without charge, upon written request, a copy of our Annual Report on Form 10-K for the fiscal year ended March 31, 2019 excluding exhibits.2020 (excluding exhibits). Please send a written request to Investor Relations at:
Replimune Group, Inc.18 Commerce Way500 Unicorn Park
Woburn, MA 01801
Attention: Investor Relations
You may also find a copy of this Proxy Statement and our Annual Report on Form 10-K for the fiscal year ended March 31, 20192020 (with exhibits) on the SEC website at www.sec.gov.
Stockholders Sharing an Address / Household
Only one copy of our Annual Report on Form 10-K for the fiscal year ended March 31, 20192020 and this Proxy Statement is being delivered to multiple stockholders sharing an address, unless we have received contrary instructions from one or more of the stockholders.
We will undertake to deliver promptly, upon written or oral request, a separate copy to a stockholder at a shared address to which a single copy of the Annual Report on Form 10-K for the fiscal year ended March 31, 20192020 and this Proxy Statement was delivered. To receive a separate copy of our Annual Report on Form 10-K for the fiscal year ended March 31, 20192020 or Proxy Statement, or to receive separate copies in the future, or if two stockholders sharing an address have received two copies of any of these documents and desire to only receive one, you may write to Investor Relations at Replimune Group, Inc. at our principal executive offices at 18 Commerce Way,500 Unicorn Park, Woburn, MA 01801 or call Investor Relations at +1 (781) 222-9600.(339) 970-2843.
Stockholder Proposals and Nominations
Requirements for Stockholder Proposals to be Considered for Inclusion in our Proxy Materials. Under Rule 14a-8 of the Exchange Act, to submit a proposal for inclusion in our Proxy Statement for the 20202021 Annual Meeting of Stockholders, stockholder proposals must be received no later than close of business on March 31, 2020,2021, by our Secretary at our principal executive offices at 18 Commerce Way,500 Unicorn Park, Woburn, MA 01801.
Requirements for Stockholder to bring Business and Nominations Before an Annual Meeting.Meeting of Stockholder. Our bylaws provide that, for stockholder nominations to the Board or other business to be considered at the 20202021 Annual Meeting of Stockholders, the stockholder must have given timely notice thereof in writing to the Secretary at Replimune Group, Inc., 18 Commerce Way,500 Unicorn Park, Woburn, MA 01801 between May 7, 202012, 2021 and June 6, 202011, 2021 (assuming the date of our 20202021 Annual Meeting of Stockholders is not so advanced or delayed as described in our bylaws). To be timely for the 20202021 Annual Meeting of Stockholders, the stockholder's notice must be delivered to or mailed and received by us not earlier than the close of business on the 120th day nor later than the close of business on the 90th day prior to the anniversary date of the previous year's annual meeting, except that if the annual meeting is scheduled more than 30 days before or 60 days after such anniversary date, we must receive the notice not later than the close of business on the 10th day following the day on which we first provide notice or public disclosure of the date of the meeting. Such notice must provide the information required by Section 2.12 of theour bylaws with respect to each nomination or matter the stockholder proposes to bring before the 20202021 Annual Meeting.
TableMeeting of ContentsStockholders.
As of the date of this Proxy Statement, the Board does not intend to present any matters other than those described herein at the 2019 Annual Meeting and is unaware of any matters to be presented by other parties. If other matters are properly brought before the meeting for action by the stockholders,
proxies will be voted in accordance with the recommendation of the Board or, in the absence of such a recommendation, in accordance with the judgment of the proxy holder.
By Order of the Board of Directors | ||
/s/ | ||
CERTIFICATE OF AMENDMENTTOTHIRD AMENDED AND RESTATED CERTIFICATE OF INCORPORATIONOFREPLIMUNE GROUP, INC.
(Pursuant to Section 242 of theGeneral Corporation Law of the State of Delaware)
Replimune Group, Inc., a corporation organized and existing under and by virtue of the provision of the General Corporation Law of the State of Delaware (the "Corporation"),
DOES HEREBY CERTIFY:
1. That the Board of Directors duly adopted resolutions proposing to amend the Third Amended and Restated Certificate of Incorporation of the Corporation (the "Certificate of Incorporation"), declaring said amendment to be advisable and in the best interests of the Corporation and its stockholders, and authorizing the appropriate officers of the Corporation to solicit the consent of the stockholders therefor, which resolutions setting forth the proposed amendment are substantially as follows:
RESOLVED, that the Certificate of Incorporation is hereby amended by amending and restating Article Eleven thereof as follows:
"Unless the Corporation, as authorized by the Board of Directors, consents in writing to the selection of one or more alternative forums, the Court of Chancery of the State of Delaware (or if the Court of Chancery does not have jurisdiction, the federal district court for the District of Delaware) shall, to the fullest extent permitted by law, be the sole and exclusive forum for a stockholder (including a beneficial owner) to bring (i) any derivative action or proceeding brought on behalf of the Corporation, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee of the Corporation to the Corporation or the Corporation's stockholders, (iii) any action asserting a claim against the Corporation arising pursuant to any provision of the DGCL or this Restated Certificate or the Corporation's by-laws or (iv) any action asserting a claim against the Corporation, its directors, officers or employees governed by the internal affairs doctrine; except for, as to each of (i) through (iv) above, any claim (A) as to which such court determines that there is an indispensable party not subject to the jurisdiction of such court (and the indispensable party does not consent to the personal jurisdiction of such court within ten (10) days following such determination), (B) which is vested in the exclusive jurisdiction of a court or forum other than such court, or (C) for which such court does not have subject matter jurisdiction. Notwithstanding the foregoing, nothing in this Article Eleven shall preclude or contract the scope of exclusive federal or concurrent jurisdiction for actions brought under the U.S. Securities Act of 1933, as amended, or the U.S. Securities Exchange Act of 1934, as amended, or the respective rules and regulations promulgated thereunder, or otherwise limit the rights of any stockholder (including a beneficial owner) to bring any claim under such laws, rules or regulations in any United States federal district court of competent jurisdiction. Any person or entity purchasing or otherwise acquiring any interest in shares of capital stock of the Corporation (including, without limitation, shares of Common Stock) shall, and shall be deemed to, have notice of and to have consented to the provisions of this Article Eleven."
[(The remainder of this page intentionallyhas been left blank]blank intentionally.)
IN WITNESS WHEREOF, the undersigned has caused this Certificate of Amendment to the Third Amended and Restated Certificate of Incorporation of the Corporation to be duly executed on behalf of the Corporation on September , 2019.
MMMMMMMMMMMM MMMMMMMMMMMMMMM C123456789 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000004 ENDORSEMENT_LINE______________ SACKPACK_____________ Your vote matters – here’s how to vote! You may vote online or by phone instead of mailing this card. Votes submitted electronically must be MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 ADD 5 ADD 6 received 1:00 am, (EST), on September, 03, 2019 Online GIof ntoo welwewct.rinovneicstvoortviontge,.com/Go to www.envisionreports.com/REPL delete QR code and control # or scan the QR code — login details are located in the shaded bar below. Phone Call toll free 1-800-652-VOTE (8683) within the USA, US territories and Canada Save paper, time and money! Sign up for electronic delivery at www.investorvote.com/www.envisionreports.com/REPL Using a black ink pen, mark your votes with an X as shown in this example. Please do not write outside the designated areas. q IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. q + 1. Election of Directors: For Withhold For Withhold For Withhold 01 - Philip Astley-SparkePaolo Pucci 02 - Kapil DhingraJason Rhodes 03 - Joseph SlatterySander Slootweg 04 - Otello Stampacchia ForAgainst Abstain ForAgainst Abstain 2. To amend the Certificate of Incorporation of Replimune Group, Inc. 3. To ratify the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for the fiscal year ended March 31, 2020.2021. Please sign exactly as name(s) appears hereon. Joint owners should each sign. When signing as attorney, executor, administrator, corporate officer, trustee, guardian, or custodian, please give full title. Date (mm/dd/yyyy) — Please print date below. Signature 1 — Please keep signature within the box. Signature 2 — Please keep signature within the box. MMMMMMM C 1234567890 J N T 2 5 3 2 5 MR A SAMPLE (THIS AREA IS SET UP TO ACCOMMODATE 140 CHARACTERS) MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND + 3 24 1 B V 4 033NBB MMMMMMMMM03ASGB B Authorized Signatures — This section must be completed for your vote to count. Please date and sign below. A Proposals — The Board of Directors recommends a vote FOR all the nominees listed and FOR Proposals 2 and 3. 2019Proposal 2. 2020 Annual Meeting Proxy Card1234 5678 9012 345Card
2019The 2020 Annual Meeting Admission Ticket 2019 Annual Meetingof Stockholders of Replimune Group, Inc. Stockholderswill be held on Wednesday, September 4, 2019,9, 2020, 2:00 PM Eastern Time Offices of Morgan, Lewis & Bockius LLP One Federal Street, Boston, MA 02110 Upon arrival, please present this admission ticket and photo identificationvia live webcast at www.meetingcenter.io/268991760. To access the registration desk. Ifvirtual meeting, you plan to attendmust have the annual meeting in person, please bring this admission ticket with you. This ticket admits the stockholder. All meeting attendees must present valid government-issued identification. For your safety, all personal belongings or effects including bags, purses, and briefcases are subject to inspection. With the exception of purses and notepads, no personal items such as briefcases or bags, of any type, may be carried into the meeting area. The use of photographic and recording devicesinformation that is prohibitedprinted in the building. Cell phone useshaded bar located on the reverse side of this form. The password for this meeting is permitted only outdoors. The meeting location is accessible to disabled persons. Space is limited, and stockholders will be admitted on a first-come, first-served basis.— REPL2020. Important notice regarding the Internet availability of proxy materials for the Annual Meeting of Shareholders.Stockholders. The material is available at: www.investorvote.com/www.envisionreports.com/REPL q IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. q + Notice of 20192020 Annual Meeting of Stockholders Proxy Solicited by Board of Directors for Annual Meeting — September 4, 2019 Robert Coffin9, 2020 Jean Franchi and Philip Astley-Sparke, or any of them, each with the power of substitution, are hereby authorized to represent and vote the shares of the undersigned, with all the powers which the undersigned would possess if personally present, at the Annual Meeting of Stockholders of Replimune Group, Inc. to be held on September 4, 20199, 2020 or at any postponement or adjournment thereof. Shares represented by this proxy will be voted by the stockholder. If no such directions are indicated, the Proxies will have authority to vote FOR the election of the Board of Directors FOR item 2, and FOR item 3.2. In their discretion, the Proxies are authorized to vote upon such other business as may properly come before the meeting. (Items to be voted appear on reverse side) Change of Address — Please print new address below. Comments — Please print your comments below. + C Non-Voting Items Replimune Group, Inc. Small steps make an impact. Help the environment by consenting to receive electronic delivery, sign up at www.investorvote.com/www.envisionreports.com/REPL
MMMMMMMMMMMM Using a black ink pen, mark your votes with an X as shown in this example. Please do not write outside the designated areas. q IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. q + 1. Election of Directors: For Withhold For Withhold For Withhold 01 - Philip Astley-Sparke 02 - Kapil Dhingra 03 - Joseph Slattery ForAgainst Abstain ForAgainst Abstain 2. To amend the Certificate of Incorporation of Replimune Group, Inc. 3. To ratify the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for the fiscal year ended March 31, 2020. Please sign exactly as name(s) appears hereon. Joint owners should each sign. When signing as attorney, executor, administrator, corporate officer, trustee, guardian, or custodian, please give full title. Date (mm/dd/yyyy) — Please print date below. Signature 1 — Please keep signature within the box. Signature 2 — Please keep signature within the box. + 1 U P X 4 2 5 3 2 5 033NCB MMMMMMMMM B Authorized Signatures — This section must be completed for your vote to count. Please date and sign below. A Proposals — The Board of Directors recommends a vote FOR all the nominees listed and FOR Proposals 2 and 3. 2019 Annual Meeting Proxy Card
Important notice regarding the Internet availability of proxy materials for the Annual Meeting of Shareholders. The material is available at: www.investorvote.com/REPL q IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. q Notice of 2019 Annual Meeting of Stockholders Proxy Solicited by Board of Directors for Annual Meeting — September 4, 2019 Robert Coffin and Philip Astley-Sparke, or any of them, each with the power of substitution, are hereby authorized to represent and vote the shares of the undersigned, with all the powers which the undersigned would possess if personally present, at the Annual Meeting of Stockholders of Replimune Group, Inc. to be held on September 4, 2019 or at any postponement or adjournment thereof. Shares represented by this proxy will be voted by the stockholder. If no such directions are indicated, the Proxies will have authority to vote FOR the election of the Board of Directors, FOR item 2, and FOR item 3. In their discretion, the Proxies are authorized to vote upon such other business as may properly come before the meeting. (Items to be voted appear on reverse side) Replimune Group, Inc.