UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934 (Amendment No. )

Filed by the Registrant  ☒                             Filed by a party other than the Registrant  ☐

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Filed by the Registrant ☒

Filed by a Party other than the Registrant ☐

Preliminary Proxy Statement

Check the appropriate box:

Preliminary Proxy Statement

Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

Definitive Proxy Statement

Definitive Additional Materials

Soliciting Material Pursuant to §240.14a-12under §240.14a-12

GEMINI THERAPEUTICS,

DISC MEDICINE, INC.

(Name of Registrant as Specified In Its Charter)specified in its charter)

(Name of Person(s) Filing Proxy Statement, if Other Than Theother than the Registrant)

Payment of Filing Fee (Check the appropriate box)all boxes that apply):

No fee required.

Fee paid previously with preliminary materials.

Fee computed on table belowin exhibit required by Item 25(b) 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:

Fee paid previously with preliminary materials.
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:

 


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PROXY STATEMENT FORDISC MEDICINE, INC.

321 Arsenal Street, Suite 101

Watertown, MA 02472

NOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS OF

GEMINI THERAPEUTICS, INC.

To be held June 9, 2023

LOGO

Proxy Statement dated August 17, 2021

and first mailed to stockholders on or about August 17, 2021

Dear Stockholders:

You are cordially invited to attendNotice is hereby given that the 20212023 Annual Meeting of Stockholders, (“or Annual Meeting”)Meeting, of Gemini Therapeutics,Disc Medicine, Inc. (the “Company”), will be held on June 9, 2023 at 10:9:00 a.m.,A.M. Eastern Time, on September 29, 2021.Time. The Annual Meeting will be held in a virtual-only format. Stockholderscompletely virtual meeting, which will be conducted by live webcast at www.virtualshareholdermeeting.com/IRON2023. You will be able to vote electronically and submit questions during the virtual meeting. You will need the 16 digit control number, which is located on the Notice of Internet Availability of Proxy Materials, or the Notice, that you received in the mail, on your proxy card, or in the instructions accompanying your proxy materials, to attend and participate inthe virtual meeting. The purpose of the Annual Meeting onlineis the following:

1.
To elect three Class II directors to our board of directors, to serve until the 2025 annual meeting of stockholders and until their successors have been duly elected and qualified, or until their earlier death, resignation or removal, and to elect three Class III directors to our board of directors, to serve until the 2026 annual meeting of stockholders and until their successors have been duly elected and qualified, or until their earlier death, resignation or removal;
2.
To ratify the appointment of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2023; and
3.
To transact any other business properly brought before the Annual Meeting or any adjournment or postponement of the Annual Meeting.

The proposal for the election of directors relates solely to the election of three Class II directors and three Class III directors nominated by visiting the following website www.virtualshareholdermeeting.com/GMTX2021, where youboard of directors.

Only Disc Medicine, Inc. stockholders of record at the close of business on April 14, 2023, will be ableentitled to listen tovote at the meeting live, submit questions,Annual Meeting and vote.any adjournment or postponement thereof.

We have elected to take advantage ofDisc Medicine, Inc. is following the Securities and Exchange Commission rulesCommission’s “Notice and Access” rule that allowallows companies to furnish their proxy materials to their stockholders by providing notice of and access to these documentsposting them on the Internet instead ofInternet. As a result, we are mailing printed copies. Those rules allow a company to provide its stockholders with the information they need, while lowering the costs of delivery and reducing the environmental impact of the Annual Meeting. Most of our stockholders will not receive printed copies of our proxy materials unless requested, but instead will receive a Notice of Internet Availability of Proxy Materials, or the Notice, with instructions on how they may access and review ourinstead of a paper copy of the accompanying proxy materialsstatement and our 2020 Annual Report on Form 10-K for the fiscal year ended December 31, 2022, or 2022 Annual Report. The Notice contains instructions on how to access both the Internet2022 Annual Report and how they may cast their vote viaaccompanying proxy statement over the Internet. This method provides our stockholders with expedited access to proxy materials, lowers the cost of printing and distribution, and reduces the environmental impact of the Annual Meeting. If you would like to receive a printed or e-mail copyprint version of ourthe proxy materials, free of charge, please follow the instructions on the Notice.

Please see the “General Information” section of the proxy statement that accompanies this notice for requestingmore details regarding the materials inlogistics of the Notice that is being sent to you.Annual Meeting.

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Your vote is very important. Whether or not you expect to attend the virtual meeting, it is important that your shares be represented. To ensure that your vote is recorded promptly, please vote as soon as possible, even if you plan to attend the virtual Annual Meeting, we urge you to read the enclosedmeeting, by submitting your proxy statement and vote as soon as possible via the Internet by telephone or, if you receive a paperat the address listed on the proxy card or voting instruction formby signing, dating and returning the proxy card. Even if you have voted by proxy, you may still vote online during the virtual meeting. Please note, however, that if your shares are held through a broker, bank or other nominee and you wish to vote at the virtual meeting, you must obtain a proxy issued in the mail, by mailing the completed proxy card or voting instruction form. For specific voting instructions, please refer to the information provided in the accompanying Proxy Statement and in the Notice.your name from that record holder.

A record of our business activities for the 2020 fiscal year is contained in our 2020 Annual Report to Stockholders on Form 10-K for the fiscal year ended December 31, 2020 (the “2020 Annual Report to Stockholders”).

Thank you for your confidence and continued support of Gemini Therapeutics.

Sincerely,

/s/ Jason Meyenburg

Jason Meyenburg

Chief Executive Officer


LOGO

NOTICE OF 2021 ANNUAL MEETING OF STOCKHOLDERS

Time10:00 a.m., Eastern Time
DateSeptember 29, 2021
Place

The 2021 Annual Meeting will be held entirely online at

www.virtualshareholdermeeting.com/GMTX2021.

Purpose

We are holding the Annual Meeting for the following purposes:

1.  To elect one Class I director, Carl L. Gordon, Ph.D., to serve until the 2024 annual meeting of stockholders, and until his successor is duly elected and qualified;

2.  To approve the 2021 Employee Stock Purchase Plan;

3.  To ratify, on an advisory basis, the appointment of Ernst & Young LLP, as independent registered public accounting firm of Gemini Therapeutics, Inc. (the “Company”) for the fiscal year ending December 31, 2021; and

4.  To transact any other business that may properly come before the meeting or any adjournment or postponement thereof.

These items of business are more fully described in the proxy statement accompanying this notice.

Record DateThe Board of Directors of the Company (the “Board”) has fixed the close of business on August 2, 2021 as the record date for determining stockholders entitled to notice of and to vote at the meeting.
Meeting AdmissionAll stockholders as of the record date, or their duly appointed proxies, may attend the meeting. You will not be able to attend the Annual Meeting physically. To be admitted to the Annual Meeting at www.virtualshareholdermeeting.com/GMTX2021, you must enter the 16-digit control number found on your proxy card, voting instruction form or Notice card.
Voting by Proxy

YOUR VOTE IS VERY IMPORTANT. You may vote during the Annual Meeting by following the instructions available on the meeting website during the meeting, but if you are not able to attend virtually, please submit your vote as soon as possible as instructed in the Notice, proxy card or voting instruction form.

Beginning on or about August 17, 2021, a Notice of Internet Availability of Proxy Materials (the “Notice of Internet Availability”) will be mailed to our stockholders of record on August 2, 2021. In addition, the proxy statement, the accompanying proxy card or voting instruction form, and our 2020 Annual Report to Stockholders are available at www.proxyvote.com. As more fully described in the Notice of Internet Availability, all stockholders may choose to access these materials online or may request printed or emailed copies.


We encourage you to vote your shares as soon as possible. Specific instructions for voting over the internet or mail are included in the Notice of the 2021 Annual Meeting of Stockholders (the “Notice”). If you attend the Annual Meeting online and vote electronically during the meeting, your vote will replace any earlier vote.
A list of stockholders entitled to vote at the Annual Meeting will be available for inspection by any stockholder at our executive offices for a period of 10 days prior to the Annual Meeting until the close of such meeting.

By order of the Board

/s/ Jason Meyenburg of Directors,

Jason Meyenburg,

/s/ John Quisel, J.D., Ph.D.

John Quisel, J.D., Ph.D.

President and Chief Executive Officer and Secretary

August 17, 2021

Watertown, MA

April 20, 2023


Important Notice Regarding the AvailabilityTable of Proxy Materials for the Annual Meeting to Be Held on September 29, 2021: The proxy statement and our 2020 Annual Report to Stockholders are available at www.proxyvote.com.

Contents


TABLE OF CONTENTS

Page

PROXY STATEMENT FOR THE 2023 ANNUAL MEETING OF STOCKHOLDERS

1

5

GENERAL INFORMATION

2

VOTING INFORMATION7

4

PROPOSAL 1:NO. 1 – ELECTION OF CLASS I DIRECTORII and CLASS III DIRECTORS

9

11

PROPOSAL 2: APPROVALNO. 2 – RATIFICATION OF THE COMPANY’S 2021 EMPLOYEE STOCK PURCHASE PLAN

13

PROPOSAL 3: RATIFICATION OF APPOINTMENT OF ERNST & YOUNG LLP AS OURDISC MEDICINE, INC.’S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 20212023

16

AUDIT COMMITTEE REPORT

18

CORPORATE GOVERNANCE

19

18

NON-EMPLOYEE DIRECTOR COMPENSATION

26

EXECUTIVE OFFICER AND DIRECTOROFFICERS

28

EXECUTIVE COMPENSATION

25

30

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS

32

37

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERSPRINCIPAL STOCKHOLDERS

36

40

DELINQUENT SECTION 16(a) REPORTSREPORT OF THE AUDIT COMMITTEE

39

43

HOUSEHOLDING OF PROXY MATERIALS

39

43

STOCKHOLDER PROPOSALS

43

OTHER MATTERS

39

2021 EMPLOYEE STOCK PURCHASE PLAN44

A-1



GEMINI THERAPEUTICS,img140263681_1.jpg 

DISC MEDICINE, INC.

300 One Kendall Square, 3rd Floor321 Arsenal Street, Suite 101

Cambridge,Watertown, MA 0213902472

PROXY STATEMENT

FOR THE 2021 ANNUAL MEETING2023 Annual Meeting OF STOCKHOLDERS

TO BE HELD ON SEPTEMBER 29, 2021JUNE 9, 2023

AT 10:

This proxy statement contains information about the 2023 Annual Meeting of Stockholders, or the Annual Meeting, of Disc Medicine, Inc., which will be held on June 9, 2023 at 9:00 A.M. EASTERN TIME

As usedEastern Time. The Annual Meeting will be a completely virtual meeting, which will be conducted by live webcast at www.virtualshareholdermeeting.com/IRON2023. There will be no physical meeting location. You will be able to vote electronically and submit questions during the virtual meeting. You will need the 16 digit control number, which is located on the Notice of Internet Availability of Proxy Materials, or the Notice, that you received in the mail, on your proxy card, or in the instructions accompanying your proxy materials, to attend the virtual meeting. The board of directors of Disc Medicine, Inc. is using this proxy statement “the Company”, “Gemini”to solicit proxies for use at the Annual Meeting. In this proxy statement, the terms “Disc,” “Disc Medicine,” the “Company,” “we,” “us”“us,” and “our” refer to Gemini Therapeutics,Disc Medicine, Inc. and its consolidated subsidiaries. The term “Annual Meeting,” as used in this proxy statement, refers to the 2021 Annual Meetingmailing address of Stockholders and includes any adjournment or postponement of such meeting.our principal executive offices is Disc Medicine, Inc., 321 Arsenal Street, Suite 101, Watertown, Massachusetts 02472.

All properly submitted proxies will be voted in accordance with the instructions contained in those proxies. If no instructions are specified, the proxies will be voted in accordance with the recommendation the Boardof our board of directors with respect to each of the matters set forth in this proxy statement and the accompanying proxy card. You may revoke your proxy at any time before it is exercised at the meeting by giving our corporate secretary written notice to that effect.

This proxy statement andWe plan to mail a Notice of Internet Availability of Proxy Materials, or the 2020 Annual ReportNotice, to Stockholders are first being made available toour stockholders on or about August 17, 2021.April 24, 2023, and it contains instructions on how to access our proxy materials, including this proxy statement and our 2022 Annual Report, over the Internet.

We are utilizing a virtual-only meeting format in order to leverage technology to enhance stockholder access to the Annual Meeting by enabling attendance and participation from any location around the world. We believe that the virtual-only meeting format will give stockholders the opportunity to participate fully and equally, and without cost, and to exercise the same rights as if they had attended an in-person meeting. We believe that these measures will enhance stockholder access and encourage participation and communication with our board of directors and management. In addition, the virtual-only meeting format increases our ability to engage with all stockholders, regardless of size, resources or physical location.

We are an “emerging growth company” under applicable federal securities laws and therefore permitted to conform with certain reduced public company reporting requirements. As an emerging growth company, we provide in this proxy statement the scaled disclosure permitted under the Jumpstart Our Business Startups Act of 2012, (the “or the JOBS Act”),Act, including the compensation disclosures required of a “smaller reporting company,” as that term is defined in Rule 12b-2 promulgated under the Securities Exchange Act of 1934, as amended, (the “Exchange Act”).or the Exchange Act. In addition, as an emerging growth company, we are not required to conduct votes seeking approval, on an advisory basis, of the compensation of our named executive officers or the frequency with which such votes must be conducted. We will remain an “emerging growth company” until the earliest of (i) the last day of the fiscal year following the fifth anniversary of our initial public offering in August 2020;offering; (ii) the last day of the fiscal year in which our total annual gross revenue is

5


equal to or more than $1.07$1.235 billion; (iii) the date on which we have issued more than $1.0$1 billion in nonconvertible debt during the previous three years; or (iv) the date on which we are deemed to be a large accelerated filer under the rules of the Securities and Exchange Commission, (the “ SEC”).or the SEC. Even after we are no longer an “emerging growth company,” we may remain a “smaller reporting company.”

We are also a “smaller reporting company,” meaning that

Important Notice Regarding the market valueAvailability of our stock held by non-affiliates was less than $700 million and our annual revenue was less than $100 million during our most recently completed fiscal year as of the end of our most recently completed second fiscal quarter. We may continue to be a smaller reporting company if either (i) the market value of our stock held by non-affiliates is less than $250 million or (ii) our annual revenue was less than $100 million during the most recently completed fiscal year and the market value of our stock held by non-affiliates is less than $700 million. 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. For so long as we remain a smaller reporting company, we are permitted and intend to rely on exemptions from certain disclosure and other requirements that are applicable to other public companies that are not smaller reporting companies.

Proxy Materials for

GENERAL INFORMATION

Why am I receiving these materials?

Gemini Therapeutics has prepared these materials for its Annual Meeting. The Annual Meeting is scheduled to be held on Wednesday, September 29, 2021 at 10:00 a.m. Eastern Time, solely by means of remote communication in a virtual-only format. You are invited to attend and are requested to vote on the proposals described in this Proxy Statement.

What is included in these proxy materials?

The Notice of 2021 Annual Meeting of Stockholders to be Held on June 9, 2023:

This Proxy Statement

The 2020proxy statement and our 2022 Annual Report are

available for viewing, printing and downloading at www.proxyvote.com.

A copy of this proxy statement and our 2022 Annual Report, as filed with the SEC, except for exhibits, will be furnished without charge to Stockholdersany stockholder upon written request to Disc Medicine, Inc., 321 Arsenal Street, Suite 101, Watertown, Massachusetts 02472, Attention: Corporate Secretary. This proxy statement and our 2022 Annual Report are also available on Form the SEC’s website at 10-Kwww.sec.gov.

If you requested printed versions by mail, you will also receive a proxy card or voting instruction form.6


DISC MEDICINE, INC.

PROXY STATEMENT

FOR THE 2023 ANNUAL MEETING OF STOCKHOLDERS

GENERAL INFORMATION

When are this proxy statement and the accompanying materials scheduled to be sent to stockholders?

Pursuant to rules adopted by the SEC, we have elected to provide access to our proxy materialsWe are mailing to our stockholders via the Internet. Accordingly, on or about August 17, 2021, we sent you a Notice of Internet Availability of Proxy Materials (the “Notice of Internet Availability”).

Why did I receive a Notice of Internet Availability of Proxy Materials instead of a full setpaper copy of proxy materials?

Pursuant to rules adopted by the SEC, the proxy materials, including the Notice of 2021 Annual Meeting of Stockholders (the “Notice of Annual Meeting”), this proxy statement and our 2022 Annual Report, on or about April 24, 2023, and it contains instructions on how to access those documents over the Internet. You will need the control number included on the Notice, proxy card or for shares held in street name (held for your account by a broker or other nominee), voting instruction form and our 2020 Annual Report to Stockholders (collectively,access these materials. If you would like to receive a print version of the “Proxy Materials”), are available to stockholdersproxy materials, free of charge, please follow the instructions on the Internet. We believe electronic delivery will expediteNotice.

Who is soliciting my vote?

Our board of directors is soliciting your vote for the receiptAnnual Meeting.

When is the record date for the Annual Meeting?

The record date for determination of materials and will help lower our costs and reducestockholders entitled to vote at the environmental impactAnnual Meeting is the close of our annual meeting materials. Accordingly, we have sent a Notice of Internet Availability to stockholders of record and beneficial ownersbusiness on April 14, 2023.

How many votes can be cast by all stockholders?

There were 19,793,870 shares of our common stock, par value $0.0001 per share, (“Common Stock”)outstanding on or about August 17, 2021.

The NoticeApril 14, 2023, all of Internet Availability provides instructions as to how stockholders may access and review the Proxy Materials on the website referred to in the Notice of Internet Availability or, alternatively, how to request that a printed set of the Proxy Materials, including a proxy card, be sent to them by mail. The Notice of Internet Availability also provides voting instructions. In addition, stockholders of record may request to receive the Proxy Materials in printed form by mail or electronically by e-mail on an ongoing basis for future stockholder meetings. Please note that while our Proxy Materialswhich are available at the website referenced in the Notice of Internet Availability, and our Notice of Annual Meeting, proxy statement and 2020 Annual Report to Stockholders are available on our website, no other information contained on either website is incorporated by reference in or considered to be a part of this proxy statement.

How do I attend the Annual Meeting?

The meeting will be held entirely online on Wednesday, September 29, 2021 at 10:00 a.m. Eastern Time at www.virtualshareholdermeeting.com/GMTX2021. Information on howentitled to vote at the virtual Annual Meeting is discussed below.

What items will be voted on at the Annual Meeting?

There are three items that stockholders may vote on at the Annual Meeting:

1. To elect one Class I director, Carl Gordon, Ph.D.,with respect to serve until the 2024 annual meeting of stockholders, and until his successor is duly elected and qualified;

2. To approve the 2021 Employee Stock Purchase Plan;

3. To ratify the appointment of Ernst & Young LLP, as independent registered public accounting firm of Gemini Therapeutics, Inc. (the “Company”) for the fiscal year ending December 31, 2021.

Will any other business be conducted at the Annual Meeting?

Other than the proposals described in this Proxy Statement, we know of no otherall matters to be submitted to the stockholdersacted upon at the Annual Meeting. If any other matter properly comes before the stockholders at the Annual Meeting, it is the intentionEach stockholder of the persons named as proxy holders to vote upon such matters in accordance with the recommendation of the Board.

VOTING INFORMATION

When is the record date for the Annual Meeting?

The Board has fixed the record date for the Annual Meeting as of the close of business on August 2, 2021 (the “Record Date”).

Who can vote at the Annual Meeting?

Only stockholders of record at the close of business on the Record Date will be entitled to vote at the Annual Meeting. As of the Record Date, a total of 43,055,112 shares of our Common Stock were outstanding and entitled to vote. Each share of Common Stock is entitled to one vote onfor each matter.

What isshare of our common stock held by such stockholder. As the difference between a stockholder of record, and a “street name” holder?

If,you have the right to grant your voting proxy directly to the individuals listed on the record date,proxy card or vote on your own behalf at our Annual Meeting. None of our shares of preferred stock were outstanding as of April 14, 2023.

Who is entitled to vote?

Registered Stockholders. If shares of our common stock are registered directly in your name with Continental Stock Transfer & Trust Company, Inc., our transfer agent, you are considered the stockholder of record or a registered holder, with respect to those shares and our proxy materials have been made available to you.shares. As athe stockholder of record, you may vote athave the Annual Meeting if you attend onlineright to grant your voting proxy directly to the individuals listed on the proxy card or vote by proxy.on your own behalf at our Annual Meeting. Throughout this proxy statement, we refer to these registered stockholders as “stockholders of record.”

Street Name Stockholders. If your shares of our common stock are held on your behalf in a brokerage account or by a bank trustee or other nominee, (in “ street name”), you are considered to be the beneficial owner of those shares that are held in “street name,” and ourthe proxy materials are beingwere forwarded to you by your bank, broker trustee or other nominee, thatwho is considered the ownerstockholder of record ofwith respect to those shares. As the beneficial owner, you have the right to instructdirect your bank, broker, trusteebank or other nominee onas to how to vote your shares. Beneficial owners are also invited to attend our Annual Meeting. However, since a beneficial owner is not the stockholder of record, you may not vote your shares of our common stock on your own behalf at the Annual Meeting unless you follow your broker’s procedures for obtaining a legal proxy. Note you should also be receiving a voting instruction form for you to use from your broker. Throughout this proxy statement, we refer to stockholders who hold their shares through a broker, bank or other nominee as “street name stockholders.”

How do I vote?

If you are a stockholder of record, there are four ways to vote:

By Internet. You may vote byat www.proxyvote.com, using the voter control number printed on the furnished proxy card, 24 hours a day, seven days a week. Use the Internet to transmit your voting instructions and for electronic delivery of information up until 11:59 p.m. Eastern Time the day before the Annual Meeting?meeting date. You will need the control number included on your proxy card.

7


By Telephone. You may vote using a touch-tone telephone by calling 1-800-690-6903, 24 hours a day, seven days a week. Use any touch-tone telephone to transmit your voting instructions up until 11:59 p.m. Eastern Time the day before the meeting date. You will need the control number included on your proxy card.
By Mail. If your shares are held directly in your own name,you requested and you received a Notice of Internet Availability, you may vote your shares online at www.proxyvote.com. You may also vote your shares by mail or telephone by requesting a paperprinted copy of the proxy materials, which will include a proxy card. The proxy card will contain instructions for voting by mail and telephone.

If your shares are held directly in your own name, and you received printed copies of the proxy materials, you may vote your shares by mail by completing, signing and dating the proxy card. To vote over the internet or by telephone, you should refer tomailing your proxy card for instructions.

If your shares are held in street name, meaning registered in the name of your broker, bank, trusteepostage-paid envelope we have provided or other nominee, you should vote your sharesreturn it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717. Votes submitted through the mail must be received by following the instructions from your broker, bank, trustee or other nominee.

What shares are included on a proxy card or voting instruction form?

Each proxy card or voting instruction form represents the shares registered to you as of the close of business on the Record Date. You may receive more than one proxy card or voting instruction form if you hold your shares in multiple accounts, some of your shares are registered directly in your name with our transfer agent, or some of your shares are held in street name through a broker, bank, trustee or other nominee. Please vote the shares on each proxy card or voting instruction form to ensure that all of your shares are countedJune 8, 2023.

By Internet at the Annual Meeting.

What if I have shares registered in my nameInstructions on how to attend and don’t vote on a particular matter when returning a proxy card?

Properly signed proxy cards received before the close of voting at the Annual Meeting will be voted according to the directions provided. If a signed proxy card is returned without stockholder direction on a matter, the shares will be voted as recommended by the Board.

Will my shares held in street name be voted if I don’t provide instructions?

Current Nasdaq Global Market (“Nasdaq”) rules allow brokers to vote shares on certain “routine” matters for which their customers do not provide voting instructions. If you own shares in street name through a broker, bank, trustee or other nominee, the ratification of the appointment of Ernst & Young LLP (“Ernst & Young”), Certified Public Accountants, as our independent registered public accounting firm for the fiscal year ended December 31, 2021 (“Fiscal 2021”) is considered a “routine” matter on which your broker may use its discretion to vote your shares without your instructions. The election of the Class I director and the approval of the 2021 Employee Stock Purchase Plan are not “routine” proposals; therefore, your broker will be unable to vote your shares if you do not instruct your broker how to vote, which is referred to as a “broker non-vote.” Broker non-votes will have no effect on the outcome of the votes on the election of the Class I director or the approval of the 2021 Employee Stock Purchase Plan.

How can I votedescribed at the virtual Annual Meeting?

Stockholders of Record. If you are a stockholder of record, and your shares are registered directly in your name, you may vote:

By Internet. You may vote at www.proxyvote.com. You will need the control number included on your proxy card.

By Telephone. You may vote using a touch-tone telephone by calling 1-800-690-6903. You will need the control number included on your proxy card.

By Mail. If you received printed proxy materials, you may submit your vote by completing, signing and dating each proxy card received and returning it in the prepaid envelope. Sign your name exactly as it appears on the proxy card. Proxy cards submitted by mail must be received no later than September 28, 2021 to be voted at the Annual Meeting.

During the Annual Meeting. You may vote at the virtual Annual Meeting. If you were a stockholder of record as of the Record Date, you can attend and participate in the virtual Annual Meeting by going to www.virtualshareholdermeeting.com/GMTX2021. You will need the 16-digit control number included on your proxy card.

www.virtualshareholdermeeting.com/IRON2023.

Even if you plan to attend our virtual Annual Meeting, we recommend that you also vote by proxy so that your vote will be counted if you later decide not to attend the Annual Meeting.

Beneficial Owners of Shares held in Street Name. If you are a street name stockholder, you will receive voting instructions from your broker, bank trustee or other nominee. You must follow the voting instructions provided by your broker, bank trustee or other nominee in order to instruct your broker, bank trustee or other nominee on how to vote your shares. Street name stockholders should generally be able to vote by returning an instruction card, or by telephone or on the internet.Internet. However, the availability of telephone and internetInternet voting will depend on the voting process of your broker, bank trustee or other nominee. As discussed above, if you are a street name stockholder, you may not vote your shares on your own behalf at the Annual Meeting unless you obtain a legal proxy from your broker, bank trustee or other nominee.

VotingBy Proxy

If you will not be attending the Annual Meeting, you may vote by Proxy. All shares representedproxy. You can vote by valid proxiesproxy over the Internet by following the instructions provided in the enclosed proxy card. Proxies submitted by mail must be received before the start of the Annual Meeting will be voted. Meeting.

If you complete and submit your proxy before the Annual Meeting, the persons named as proxies will vote the shares represented by your proxy in accordance with your instructions. If you submit a proxy without giving voting instructions, your shares will be voted in the manner recommended by the Boardboard of directors on all matters presented in this proxy statement, and as the persons named as proxies may determine in their discretion with respect to any other matters properly presented at the Annual Meeting. You may also authorize another person or persons to act for you as proxy in a writing, signed by you or your authorized representative, specifying the details of those proxies’ authority. The original writing must be given to each of the named proxies, although it may be sent to them by electronic transmission if, from that transmission, it can be determined that the transmission was authorized by you.

If any other matters are properly presented for consideration at the Annual Meeting, including, among other things, consideration of a motion to adjourn the Annual Meeting to another time or place (including, without limitation, for the purpose of soliciting additional proxies), the persons named in your proxy and acting thereunder will have discretionary authoritydiscretion to vote your shares on those matters.matters in accordance with their best judgment. We do not currently anticipate that any other matters will be raised at the Annual Meeting.

I have shares registered in my name and also have shares in a brokerage account. How do I attend the Annual Meeting online?

We will be hosting our Annual Meeting via live webcast only. All stockholders as of the record date, or their duly appointed proxies, can attend the Annual Meeting live online at www.virtualshareholdermeeting.com/IRON2023. The webcast will start at 9:00 a.m. Eastern Time on June 9, 2023. Stockholders may vote these shares?

Shares thatand ask questions while attending the Annual Meeting online. In order to be able to attend the Annual Meeting, you hold in street name are not included inwill need the total16-digit control number, which is located on your Notice of shares set forthInternet Availability, on your proxy card. Your broker, bank, trusteecard or other nominee will send youin the instructions accompanying your proxy materials. Instructions on how to vote those shares.participate in the Annual Meeting are also posted online at www.proxyvote.com.

What are the Board’s recommendations on how to vote8


How do I revoke my shares?proxy?

The Board recommends a vote:

Proposal 1: “FOR” the election of the Class I director nominee, Carl Gordon, Ph.D., to hold office until the 2024 annual meeting of stockholders;

Proposal 2: “FOR” the approval of the 2021 Employee Stock Purchase Plan; and

Proposal 3: “FOR” the ratification of the selection of Ernst & Young, Certified Public Accountants, as the Company’s independent registered public accounting firm for Fiscal 2021.

Who pays the cost for soliciting proxies?

We will pay the entire cost of soliciting proxies. In addition to these Proxy Materials, our directors and employeesYou may also solicit proxies in person, by telephone or by other means of communication. Directors and employees will not be paid any additional compensation for soliciting proxies. We will also reimburse brokers, banks, custodians, other nominees and fiduciaries for forwarding these materials to their principals to obtain the authorization for the execution of proxies.

Can I change my vote?

Stockholder of Record: Shares Registered in Your Name. If your shares are registered directly in your name, you may change your vote or revoke your proxy by:

delivering written notice to the Company at any timeby (1) entering a new vote by mail that we receive before the closestart of the Annual Meeting or over the Internet or via telephone, (2) attending and voting at the Annual Meeting;

submitting a later dated proxy over the internet or by telephone in accordance with the instructions in the Notice of Internet Availability or the proxy card (in which case only your latest Internet or telephone proxy submitted will be counted); or

attending the virtual Annual Meeting and voting your shares electronically duringvirtually (although attendance at the Annual Meeting (your attendance at the virtual Annual Meeting,will not in and of itself will not revoke youra proxy).

Beneficial Owners, or (3) by filing an instrument in writing revoking the proxy or another duly executed proxy bearing a later date with our Corporate Secretary. Any written notice of Shares held inrevocation or subsequent proxy card must be received by our Corporate Secretary prior to the taking of the vote at the Annual Meeting. Such written notice of revocation or subsequent proxy card should be sent to our principal executive offices at Disc Medicine, Inc., 321 Arsenal Street, Name. Suite 101, Watertown, Massachusetts 02472, Attention: Corporate Secretary.

If your shares are held in street name, you should contact youra broker, bank, trustee or other nominee holds your shares, you must contact such broker, bank, or nominee in order to find out how to change your vote or revoke your proxy.vote.

How is a quorum reached?

The holders of

Our Amended and Restated Bylaws, or bylaws, provide that a majority of the voting power of the capital stock issued and outstanding andshares entitled to vote, at the Annual Meeting, present virtuallyin person or represented by proxy, will constitute a quorum for the transaction of business at the Annual Meeting.

Under the Delaware General Corporation Law, shares that are voted “abstain” or “withheld” and broker “non-votes” are counted as present for purposes of determining whether a quorum is present at the Annual Meeting. If a quorum is not present, the meeting may be adjourned until a quorum is obtained.

How is the vote counted?

Under our bylaws, any proposal other than an election of directors is decided by a majority of the votes properly cast for and against such proposal, except where a larger vote is required by law or by our Amended and Restated Certificate of Incorporation, or certificate of incorporation, or bylaws. Abstentions, votes withheld and broker “non-votes” are not included in the tabulation of the voting results on any such proposal and, therefore, do not have an impact on such proposals. A broker “non-vote” occurs when a nominee holding shares for a beneficial owner does 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.

If your shares are held in “street name” by a brokerage firm, your brokerage firm is required to vote your shares according to your instructions. If you submitdo not give instructions to your brokerage firm, the brokerage firm will still be able to vote your shares with respect to certain “discretionary” items, but will not be allowed to vote your shares with respect to “non-discretionary” items. Proposal No. 1 is a properly executed proxy via the Internet or by telephone or mail, regardless of whether“non-discretionary” item. If you abstain from voting on one or more matters,do not instruct your broker how to vote your shares with respect to this proposal, your broker may not vote for this proposal, and those shares will be counted as present at the Annual Meeting for the purpose of determiningbroker “non-votes.” Proposal No. 2 is considered to be a quorum. Broker non-votes will also be counted as present for the purposes of determining the presence of a quorum at the Annual Meeting. The inspector of election will determine whether a quorum is present and will tabulate the votes cast at the Annual Meeting. If, however, such quorum will not be present or represented at the Annual Meeting, the holders of a majority of the voting power present at the virtual meeting or represented by proxy, will have power to adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum will be present or represented. At such adjourned meeting at which a quorum will be present or represented, any business may be transacted which might have been transacted at the meeting as originally noticed. If the adjournment is for more than thirty (30) days, or if after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting will be given to each stockholder entitled to vote at such adjourned meeting as of the record date fixed for notice of such adjourned meeting.

What vote is required to approve eachdiscretionary item, and how are votes counted?

Votes cast by proxy or virtually at the Annual Meetingyour brokerage firm will be counted by the persons appointed by the Company to act as tabulators for the meeting. The tabulators will count all votes FOR, AGAINST and to WITHHOLD, abstentions and broker non-votes, as applicable, for each matter to be voted on at the Annual Meeting. Abstentions and broker non-votes are not counted as votes cast and, therefore, do not have the effect of votes in opposition to such proposals.

Proposal 1 — To elect one Class I director, Carl Gordon, Ph.D., to serve until the 2024 annual meeting of stockholders

The director nominee will be elected by a plurality of votes cast, which means that the director nominees receiving the highest number of votes will be elected. Only FOR and WITHHOLD votes will affect the outcome. Abstentions and broker non-votes will have no effect on Proposal 1.

Proposal 2 — Approval of the Company’s 2021 Employee Stock Purchase Plan

Stockholders will be asked to approve the Company’s 2021 Employee Stock Purchase Plan (the “ ESPP”), which was adopted by the Board subject to approval by the Company’s stockholders. The Board believes that the adoption of the ESPP will benefit the Company by providing employees with an opportunity to acquire shares of our Common Stock, which gives employees a stake in the Company’s growth, and will enable us to attract, retain and motivate valued employees. The approval of the ESPP requires the vote of the holders of a majority of the shares of Common Stock present virtually or represented by proxy and entitled to vote. Only FOR and WITHHOLD votes will affect the outcome. Abstentions and broker non-votes will have no effect on Proposal 2.

Proposal 3 — Ratification of selection of Ernst & Young, Certified Public Accountants, as our independent registered public accounting firm for the fiscal year ended December 31, 2021

The ratification of the selection of Ernst & Young as our independent registered public accounting firm for Fiscal 2021, requires the vote of the holders of a majority of the shares of Common Stock present virtually or represented by proxy and entitled to vote. Only FOR and WITHHOLD votes will affect the outcome. Abstentions will have no effect on the voting of Proposal 3. There will be no broker non-votes on Proposal 3 because it is considered a “routine” matter on which your broker may use its discretion to vote your shares without your instructions.

Could other matters be decided at the Annual Meeting?

We do not know of any other matters that may be presented for action at the Annual Meeting. Should any other business come before the meeting, the persons named on the proxy will have discretionary authority to vote the shares represented by such proxies in accordance with their best judgment. If you hold shares through a broker, bank, trustee or other nominee as described above, they will not be able to vote your shares on any other business that comes before the Annual Meeting unless theythis proposal even if it does not receive instructions from you.

Who pays the cost for soliciting proxies?

We are making this solicitation and will pay the entire cost of preparing and distributing our proxy materials and soliciting votes. If you with respectchoose to access the proxy materials or vote over the Internet, you are responsible for any Internet access charges that you may incur. Our officers and employees may, without compensation other than their regular compensation, solicit proxies through further mailings, personal conversations, facsimile transmissions, e-mails, or otherwise. Proxy solicitation expenses that we will pay include those for preparation, mailing, returning, and tabulating the proxies.

How may stockholders submit matters for consideration at an Annual Meeting?

The required notice must be in writing and received by our corporate secretary at our principal executive offices not less than 90 days nor more than 120 days prior to the first anniversary of the preceding year’s annual meeting. However, in the event that the date of the annual meeting is advanced by more than 30 days, or delayed by more than

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60 days, from the first anniversary of the preceding year’s annual meeting, or if no annual meeting were held in the preceding year, a stockholder’s notice must be so received no earlier than the 120th day prior to such matter.annual meeting and not later than the close of business on the later of (A) the 90th day prior to such annual meeting and (B) the tenth day following the day on which notice of the date of such annual meeting was mailed or public disclosure of the date of such annual meeting was made, whichever last occurs.

What happens if

In addition, any stockholder proposal intended to be included in the proxy statement for the next annual meeting of our stockholders in 2024 must also satisfy the requirements of SEC Rule 14a-8 under the Securities Exchange Act of 1934, as amended, or the Exchange Act, and be received not later than December 26, 2023. If the date of the annual meeting is postponed or adjourned?

Your proxy may be votedmoved by more than 30 days from the date contemplated at the postponedtime of the previous year’s proxy statement, then notice must be received within a reasonable time before we begin to print and send proxy materials. If that happens, we will publicly announce the deadline for submitting a proposal in a press release or adjourned meeting. You will still be able to change your proxy until it is voted.in a document filed with the SEC.

How can I find out the results of the voting at the Annual Meeting?

A representative from Broadridge Financial Solutions, Inc. (“Broadridge”) will act as inspector of elections and tabulate the votes

We plan to announce preliminary voting results at the Annual Meeting. Final voting results will be published in a Current Report on Form 8-K, (“ or Form 8-K”)8-K, that we expect to file with the SEC within four business days after the Annual Meeting. If final voting results are not available to us in time to file a Form 8-K within four business days after the Annual Meeting, we intend to file a Form 8-K to publish preliminary results and, within four business days after the final results are known to us, file an additional Form 8-K to publish the final results.

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PROPOSAL NO. 1 – ELECTION OF CLASS II and class iii DIRECTORs

When are stockholder proposals due for the 2022 Annual MeetingOur board of Stockholders?

If you wish to submit proposals for inclusion indirectors currently consists of nine members. Jay Backstrom, M.D., M.P.H. has informed our proxy statement for the 2022 Annual Meetingboard of Stockholders, we must receive them on or before December 30, 2021, pursuant to the proxy soliciting regulations of the SEC. Nothing in this paragraph shall require us to include in our proxy statement and proxy card for the 2022 Annual Meeting of Stockholders any stockholder proposaldirectors that does not meet the requirements of the SEC in effect at the time. Any such proposalhe will be subject to Rule 14a-8resigning from the board of the Exchange Act.

If you wish to nominate a director or submit a proposal for presentation at the 2022 Annual Meetingdirectors effective as of Stockholders, without including such proposal in next year’s proxy statement, you must be a stockholder of record and provide timely notice in writing to our Secretary at c/o Gemini Therapeutics, Inc., 300 One Kendall Square, 3rd Floor, Cambridge, MA 02139. To be timely, we must receive the notice not less than 90 days nor more than 120 days prior to the 2022 Annual Meeting of Stockholders; provided, however, that in the event the 2022 Annual Meeting of Stockholders is first convened more than 30 days before or more 60 days after the one year anniversary date of the Annual Meeting, or if no Annual Meeting is held in 2021, notice by the stockholder to be timely must be received by the Secretary of the Company not later than the close of business on June 9, 2023. Dr. Backstrom’s decision to resign is not the laterresult of any disagreement with the ninetieth day priorCompany relating to the scheduled date of the 2022 Annual Meeting of Stockholders or the tenth day following the day on which public announcement of the date of such meeting is first made. Your written notice must contain specific information required in Section 2any of our Amended and Restated Bylaws (“Bylaws”). For additional information about our director nomination requirements, please see our Bylaws.

How do I ask questions atoperations, policies or practices. Following the virtual Annual Meeting?

During the Annual Meeting, you may submit questions in the question box provided. We will respond to as many inquiries at the Annual Meeting as time allows.

How can I get help if I have trouble checking in or listening to the meeting online?

If you encounter any difficulties accessing the virtual meeting during the check-in or meeting time, please refer to the e-mail received the morningresignation of the Annual Meeting. WeDr. Backstrom, we will have technicians ready to assist youeight directors. In accordance with any technical difficulties you may have accessing the virtual meeting or submitting questions. If you encounter any difficulties accessing the virtual meeting during the check-in or meeting time, please call the technical support number that will be posted on the Virtual Shareholder Meeting log in page.

What else is expected to take place at the virtual Annual Meeting?

The main purpose of the virtual Annual Meeting is to conduct the business described in this Proxy Statement. As such, we intend to conduct the required business and then have a short question and answer period. We do not intend to make a formal presentation to stockholders. Since no presentation is planned, it is expected that the meeting will last only a few minutes.

Who should I contact if I have any additional questions?

If you are the stockholder of record for your shares, please contact Brian Piekos, at bpiekos@geminitherapeutics.com. If your shares are held in street name, please contact the telephone number provided on your voting instruction form or contact your bank, broker, trustee or other nominee holder directly.

PROPOSAL 1: ELECTION OF CLASS I DIRECTOR

Our business affairs are managed under the directionterms of our Board. Our Board currently consistscertificate of eight (8) directors. Our Second Amendedincorporation and Restated Certificatebylaws, our board of Incorporation (“Certificate of Incorporation”), provides for a classified Board consisting ofdirectors is divided into three classes, of directors,Class I, Class II and Class III, with members of each class serving staggered three-year terms. However, because we did not hold an annual meeting of stockholders in 2022, due to the anticipation and timing of our merger with Gemini Therapeutics, Inc., or Gemini, which we completed in December 2022, or the merger, our certificate of incorporation requires that the election of both Class II and Class III directors be voted on at the Annual Meeting. The members of the classes are currently divided as follows:

the Class I directors are Mona Ashiya, Ph.D., Kevin Bitterman, Ph.D. and Jay Backstrom, M.D., M.P.H., and their terms will expire at the annual meeting of stockholders to be held in 2024. Dr. Carl Gordon and Jean George;

Backstrom will be resigning from our board of directors effective as of the close of business on June 9, 2023;

the Class II directors are David Lubner, Dr. Tuyen OngGeorges Gemayel, Ph.D., Mark Chin, MS, MBA and Jason Rhodes;Liam Ratcliffe, M.D., Ph.D., and

their terms will expire at the Annual Meeting; and

the Class III directors are Dr. Georges Gemayel, Dr. Jim TananbaumDonald Nicholson, Ph.D., William White, MPP, J.D. and Jason Meyenburg.

John Quisel, J.D., Ph.D., and their terms will expire at the Annual Meeting.

Upon the expiration of the term of a class of directors, directors in that class will typically be eligible to be elected for a new three-year term at the annual meeting of stockholders in the year in which their term expires. However, because we, operating as Gemini, did not hold an annual meeting of stockholders in 2022, our Class II directors will be elected for a two-year term expiring at our annual meeting of stockholders to be held in 2025.

Our Boardcertificate of incorporation and bylaws provide that the authorized number of directors may be changed only by resolution of our board of directors. Our certificate of incorporation also provides that our directors may be removed only for cause by the affirmative vote of the holders of at least two thirds (2/3) or more of the outstanding shares then entitled to vote in an annual election of directors, and that any vacancy on our board of directors, including a vacancy resulting from an enlargement of our board of directors, may be filled only by vote of a majority of our directors then in office.

Our board of directors has nominated Carl Gordon,(i) each of Georges Gemayel, Ph.D., Mark Chin, MS, MBA and Liam Ratcliffe, M.D., Ph.D. for re-electionelection as a Class III director at the Annual Meeting. The nominee is presently serving as a director and has consented to continueMeeting to serve as a director, if elected.

Ifuntil the nominee is unableannual meeting of stockholders to be held in 2025 and until their successor has been duly elected and qualified, or does not qualify to serve, youuntil their earlier death, resignation or your proxy may voteremoval and (ii) each of Donald Nicholson, Ph.D., William White, MPP, J.D. and John Quisel, J.D., Ph.D. for another nominee proposed by the Board. If, for any reason, this nominee proves unable or unwilling to stand for election or ceases to qualify to serve as director, the Board will nominate alternates or reduce the size of the Board to eliminate the vacancy. The Board has no reason to believe that the nominee would prove unable to serve if elected.

As previously announced, Jean George, who is currently serving as a Class IIII director is not standing for re-election. We thank Ms. George for her many years of service and contributions to the Company and our Board. As a result, following the date of the Annual Meeting, there will be one vacant seat on the Board. The Board intends to evaluate additional board candidates to further strengthen our Board and to increase diversity.

Our Certificate of Incorporation provides that at the Annual Meeting directors will be elected to succeed those directors whose terms expire. Such elected directors shall be elected for a term of office to expire atserve until the third succeeding annual meeting of stockholders after their election. Accordingly, the Class I director shallto be elected by our stockholders, to serve until the 2024 Annual Meeting of Stockholders,held in 2026 and until their successors havesuccessor has been duly elected and qualified, or until their earlier death, resignation or removal. Commencing on this Annual MeetingThe nominees are presently directors, and at each successive annual meeting of stockholders, each class will be electedhave indicated a willingness to continue to serve a staggered three-year term. Vacancies onas directors, if elected. If the Boardnominees become unable or unwilling to serve, however, the properly submitted proxies may be filled onlyvoted for substitute nominees selected by persons elected byour board of directors.

Our Nominating and Corporate Governance Committee Policies and Procedures for Director Candidates, or the Director Guidelines, provide that the value of diversity should be considered in determining director candidates as well as other factors such as a majoritycandidate’s character, integrity, judgment, skills, education, expertise, business acumen and experience and absence of conflicts of interest. However, we do not have a formal policy concerning the diversity of the remainingboard of directors. A director elected byOur priority in selection of board members is identification of members who will further the Boardinterests of our stockholders through their established records of professional accomplishment, their ability to fillcontribute positively to the collaborative culture among board members, and their knowledge of our business and understanding of the competitive landscape in which we operate and adherence to high ethical standards. Although the nominating and corporate governance committee does not have a vacancyformal diversity policy and does not follow any ratio or formula with respect to diversity in a class, including vacancies created by an increase inorder to determine the numberappropriate composition of the board of directors, shall serve for the remainder ofnominating and corporate governance committee and the full termboard of that classdirectors are committed to creating a board

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of directors with diversity of expertise and until the director’s successor is duly electedexperience in substantive matters pertaining to our business relative and qualified.diversity of background and perspective, including, but not limited to, with respect to gender, ethnicity, religion, nationality, disability and sexual orientation. Our board of directors and nominating and corporate governance committee are committed to identifying, recruiting and advancing candidates offering such diversity in future searches.

Nominee

Nominees for Election as Class I DirectorII and Class III Directors

The following table identifies our director nominee and sets forth the principal occupation and business experience during the last five years and his age as of August 10, 2021:

Name

  

Age

  

Term

Expires

  

Position(s) Held

  

Director

Since

Dr. Carl Gordon  56  2021  Director  2016

Carl L. Gordon, Ph.D., CFA has served as a member of our Board since April 2016. Dr. Gordon is a founding member, Managing Partner, and Co-Head of Global Private Equity at OrbiMed Advisors LLC, an investment firm. Dr. Gordon currently serves on the boards of directors of Adicet Bio, Inc., Keros Therapeutics Inc., ORIC Pharmaceuticals Inc., Turning Point Therapeutics, Inc., and Prevail Therapeutics, Inc., as well as several private companies. Dr. Gordon previously served on the boards of directors of several biopharmaceutical companies, including Alector Inc., Arsanis, Inc. (which merged with X4 Pharmaceuticals, Inc.), Acceleron Pharma Inc., ARMO Biosciences, Inc., Intellia Therapeutics, Inc., Passage Bio Inc., Selecta Biosciences, Inc., and SpringWorks Therapeutics Inc. Dr. Gordon received a B.A. in chemistry from Harvard College, a Ph.D. in molecular biology from the Massachusetts Institute of Technology, and he was a Fellow at The Rockefeller University. We believe that Dr. Gordon is qualified to serve on our Board due to his scientific expertise, extensive business experience, and experience in venture capital and the life science industry.

The proxies will be voted in favor of the above nominees, unless a contrary specification is made in the proxy. The nominee has consented to serve as our director, if elected. However, if the nominee is unable to serve or for good cause will not serve as a director, the proxies will be voted for the election of such substitute nominee as our Board may designate.

RECOMMENDATION

THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE ELECTION OF CARL L. GORDON, PH.D. AS A CLASS I DIRECTOR, TO SERVE FOR A THREE-YEAR TERM ENDING AT THE ANNUAL MEETING OF THE STOCKHOLDERS TO BE HELD IN 2024.

Voting Agreement

Pursuant to the Voting Agreement by and among the Company, FS Development Holdings, LLC (“FS”), and certain stockholders of the Company, dated February 5, 2021 (the “Voting Agreement”), until the earlier of (i) the fifth (5th) anniversary of February 5, 2021 or (ii) the date on which FS owns less than 1,217,563 shares of Common Stock, at each annual or special meeting of stockholders of the Company, FS shall have the right to designate for election as a member of the Board, and the Board (including any committee thereof) shall nominate (and recommend for election and include such recommendation in a timely manner in any proxy statement or other applicable announcement to its stockholders), one individual to serve as a Class III Director. If FS ceases to be entitled to nominate any directors, then such directors shall be nominated by the Board and approved by the holders of the outstanding shares of Common Stock.

Directors Continuing in Office

The following table identifies our directors continuing in office and sets forth their principal occupation and business experience during the last five years and their agesage as of August 10, 2021:April 14, 2023.

 

Name

          Age          Term
        Expires        
  

Position(s) Held

  

Director

Since

Jason Meyenburg  44  2023  President, Chief Executive Officer, Director  2019
Georges Gemayel, Ph.D.  61  2023  Chair  2021
David Lubner  57  2022  Director  2020
Tuyen Ong, M.D., MRCOphth  46  2022  Director  2020
Jason Rhodes  52  2022  Director  2016
Jim Tananbaum, M.D.  58  2023  Director  2020

Name

 

Positions and Offices Held with Disc Medicine, Inc.

 

Class

 

Director
Since

 

Age

Georges Gemayel, Ph.D.

 

Director

 

II

 

2022

 

62

Mark Chin, MS, MBA

 

Director

 

II

 

2021

 

41

Liam Ratcliffe, M.D., Ph.D.

 

Director

 

II

 

2019

 

59

Donald Nicholson, Ph.D.

 

Executive Chairman and Director

 

III

 

2019

 

65

William White, MPP, J.D.

 

Director

 

III

 

2020

 

50

John Quisel, J.D., Ph.D.

 

Director, President and Chief Executive Officer

 

III

 

2020

 

51

Jason Meyenburg. Jason Meyenburg

Class II Director Nominees

Georges Gemayel, Ph.D. has served as our Chief Executive Officer since September 2019. Previously, from March 2018 to September 2019, Mr. Meyenburg served as Chief Commercial Officer of Orchard Therapeutics plc, a publicly-traded biotechnology. Before that, Mr. Meyenburg served as the Chief Commercial Officer of Sucampo Pharmaceuticals, Inc. from April 2017 to March 2018. Prior to that, Mr. Meyenburg served as the Chief Commercial Officer of Vtesse, Inc., which became a wholly-owned subsidiary of Sucampo in April 2017, from December 2016 to April 2017. Additionally, from January 2003 to February 2016, Mr. Meyenburg held roles of increasing responsibility at Alexion Pharmaceuticals, Inc., a publicly-traded biotechnology company, including as the Senior Vice President of Commercial Operations for the Americas. Mr. Meyenburg holds an M.B.A. from Duke University and a B.S. in Biochemistry from University of Maryland. Our Board believes that Mr. Meyenburg is qualified to serve as a member of our Board becauseboard of his operational and historical expertise gained from servingdirectors since December 2022. Prior to that, Dr. Gemayel served as ourGemini’s Interim President and Chief Executive Officer and his extensive professional and commercial experience in the life sciences industry.

Georges Gemayel, Ph.D. Dr. Georges Gemayel has served as Chairfrom February 2022 to December 2022, Executive Chairperson of the Board sincefrom November 2021 to December 2022 and Chairperson of the Board from May 2021 to November 2021. Dr. Gemayel has over 30 years of experience in the pharmaceutical industry, including management and executive positions in the U.S., Europe and the Middle East. Dr. Gemayel currently serves on the board of directors of Supernus Pharmaceuticals, Inc., and is the chair of the boards of Dynacure, OxThera AB, Enterome SA, and Orphazyme A/S.GlycoEra. Previously, Dr. Gemayel served as Executive Chair of FoldRx Pharmaceuticals and of Syndexa Pharmaceuticals, as Chair of Oxthera AB, Dimension Therapeutics, Orphazyme A/S, and Epitherapeutics and as Director of Prosensa, Raptor Pharmaceuticals, NPS Pharma, Momenta Pharmaceuticals and Adolor. From 2008 to 2009, Dr. Gemayel was President and Chief Executive Officer of Altus Pharmaceuticals Inc., a publicly traded pharmaceutical company. From 2003 to 2008, he was Executive Vice President at Genzyme Corporation where he was responsible for the company’s global therapeutics, transplant, renal and biosurgery businesses. From 1998 to 2003, he held progressively senior roles at Hoffmann La-RocheLtd. and Roche Labs, most recently as Vice President, National Specialty Care, responsible for its U.S. business for dermatology, oncology, transplantation, hepatitis and HIV. Dr. Gemayel completed his doctorate in pharmacy at St. Joseph University in Beirut, Lebanon, and earned a Ph.D. in pharmacology at Paris-SudUniversity in Paris, France. Our Boardboard of directors has concluded that Dr. Gemayel possesses the expertise and extensive professional experience and knowledge that qualifies him to serve as our Chair of the Board.

David C. Lubner has been a member of our Boardboard.

Mark Chin, MS, MBA has served as a member of our board of directors since April 2020.September 2021. Mr. Chin has served as managing director at Arix Bioscience PLC, a biotechnology-focused venture capital firm, since July 2021. From JanuaryAugust 2016 until its acquisition by UCB S.A. into April 2020, Mr. LubnerChin served as an investment director at Arix Bioscience. Prior to Arix Bioscience, he was a principal at Longitude Capital, a healthcare venture capital firm, from September 2012 to August 2016, where he focused on investments in both private and public biotechnology and medical technology companies. Prior to Longitude Capital, Mr. Chin was a consultant at the Boston Consulting Group, a global management consulting firm, from January 2011 to September 2012, where he managed strategy and corporate development projects for pharmaceutical and biotechnology companies, and prior to Boston Consulting Group, he worked in corporate development at Gilead Sciences, a biotechnology company, and in market planning at Genentech, a biotechnology company. Mr. Chin currently serves as a member of the boards of directors of Harpoon Therapeutics, Inc. (Nasdaq: HARP), Imara Inc. (Nasdaq: IMRA), and Iterum Therapeutics plc (Nasdaq: ITRM) and a number of private biotechnology companies. Mr. Chin received a BS from the University of California at San Diego, an MS from the University of Pennsylvania, and an MBA from The Wharton School at the University of Pennsylvania. We believe Mr. Chin is qualified to serve on our board of directors based on his extensive experience investing in, guiding, and leading start-up and early phase companies, as well as his experience as a director of other companies.

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Liam Ratcliffe, MD, Ph.D. has served as a member of our board of directors since September 2019. Dr. Ratcliffe has served as Head of Biotechnology at Access Industries, a privately held industrial group, since April 2019. Previously, he spent 10 years at New Leaf Venture Partners, a venture capital firm, from September 2008 through March 2019, culminating his career there as Managing Director, where he focused on investing in therapeutic and therapeutic platform companies. Prior to joining New Leaf Venture Partners, Dr. Ratcliffe was Worldwide Head of Clinical Research and Development at Pfizer, where he spent 12 years of his career. Dr. Ratcliffe currently serves as a member of the boards of directors of Arvinas Inc. (Nasdaq: ARVN) since October 2015, Passage Bio Inc. (Nasdaq: PASG) since September 2019, Recludix Pharma, Inc. since December 2019, and Eliem Therapeutics Inc. (Nasdaq: ELYM) since October 2019. Previously, he served as a board member at Edge Therapeutics, Inc. (now PDS Biotechnology Corp., Nasdaq: PDSB) from October 2015 to November 2018, Unum Therapeutics Inc. (formerly listed on Nasdaq) from March 2018 to April 2019, Deciphera Pharmaceuticals Inc. (Nasdaq: DCPH) from September 2017 to March 2019, Aptinyx Inc. (Nasdaq: APTX) from June 2018 to April 2019, and RallyBio Corporation (Nasdaq: RLYB) from April 2018 to March 2019. Dr. Ratcliffe received a MBChB and a Ph.D. in immunology from University of Cape Town and an MBA from the University of Michigan. Dr. Ratcliffe is qualified to serve on our board of directors because of his extensive clinical development and venture capital experience in the life sciences industry.

Class III Director Nominees

Donald Nicholson, Ph.D. has served as Executive Chairman of our board of directors since April 2019. Dr. Nicholson is the former chief executive officer of Nimbus Therapeutics, LLC, or Nimbus, a biotechnology company, serving from August 2014 to October 2018. Prior to joining Nimbus, Dr. Nicholson held various strategic, leadership and operational roles in diverse therapeutic areas, including respiratory, inflammation, immunology, bone, endocrine, urology, infectious disease and neurosciences at Merck from April 1998 to July 2013. Dr. Nicholson has co-authored more than 150 publications in peer-reviewed scientific and medical journals and is internationally recognized for his contributions to the field of apoptotic cell death. He also serves as a member on the board of directors of Generation Bio (Nasdaq: GBIO), Jnana Therapeutics, Muna Therapeutics, Matchpoint Therapeutics and NodThera. Dr. Nicholson received his Ph.D. and an Honors B.Sc. degree in Biochemistry from the University of Western Ontario, and trained as a Medical Research Council postdoctoral fellow at the University of Munich in Germany. Dr. Nicholson is qualified to serve as a member of our board of directors due to his extensive experience in leadership positions throughout the life sciences industry and his strong scientific background.

William White, MPP, J.D., has served as a member of our board of directors since December 2020. Mr. White has served as the Executive Vice President, and Chief Financial Officer and Head of Ra Pharmaceuticals,Corporate Development and Treasurer at Akero Therapeutics, Inc., a publicly-traded biotechnology company. Before joining Ra Pharmaceuticals, Mr. Lubner served as Senior Vice President and Chief Financial Officer of Tetraphase Pharmaceuticals, Inc., from its inception in 2006 through 2015, as the Chief Financial Officer of PharMetrics Inc., a pharmacy and medical claims data informatics company, from 1999 until it was acquired by IMS Health in 2015 and as Vice President and Chief Financial Officer, from 1996 to 1999, of ProScript, Inc. (Nasdaq: AKRO), a biotechnology company, where Velcade® (bortezomib),since April 2019. Previously, Mr. White served as a therapy widely used for treatmentManaging Director and Head of US Life Sciences Investment Banking at Deutsche Bank, a financial service provider, from September 2017 until March 2019. Prior to that position, Mr. White was a Managing Director in Healthcare Investment Banking at Citigroup from May 2006 until September 2017. Previously, he served as an associate and later as a Vice President in Healthcare Investment Banking at Goldman, Sachs & Co. from November 2000 to March 2006. Mr. White received an AB from Princeton University, an MPP from Harvard University and a J.D. from Columbia University. Mr. White also serves as a board member and Audit Committee Chair of Ventyx Bioscience (Nasdaq: VTYX). Mr. White is qualified to serve on our board of directors because of his extensive financial and investment experience in the blood cancer, multiple myeloma, was discovered. Mr. Lubner is alsolife sciences industry.

John Quisel, J.D. Ph.D. has served as our President, Chief Executive Officer and as a member of our board of directors since February 2020. Previously, from October 2006 through February 2020, Dr. Quisel served in various positions at Acceleron Pharma Inc., a biopharmaceutical company, most recently as Chief Business Officer. Prior to joining Acceleron, Dr. Quisel worked as an associate at the law firms of Ropes & Gray and Foley Hoag. Dr. Quisel holds an AB from Harvard University, an MS from Stanford University, a Ph.D. from the Massachusetts Institute of Technology, and a J.D. from Harvard Law School. Dr. Quisel is qualified to serve as a member of our board because of his significant scientific industry and management experience, including the experience gained from prior service as a Chief Business Officer.

The proxies will be voted in favor of the above nominees unless a contrary specification is made in the proxy. The nominees have consented to serve as our directors if elected. However, if the nominees are unable to serve or for good cause will not serve as a director, properly submitted proxies will be voted for the election of such substitute nominee as our board of directors may designate.


Vote Required; Board Recommendation

To be elected, the directors nominated via this Proposal No. 1 must receive a plurality of the votes properly cast on the election of directors, meaning that the director nominees receiving the most votes will be elected. Shares voting “withheld” and broker non-votes will have no effect on the election of directors.

The board of directors recommends voting “FOR” each of the Class II and Class III director nominees named above for re-election to the board of directors.

Directors Continuing in Office

The following table identifies our directors, and sets forth their principal occupation and business experience during the last five years and their ages as of April 14, 2023.

Name

 

Positions and Offices Held with Disc Medicine, Inc.

 

Director
Since

 

Class and Year
in Which Term
Will Expire

 

Age

Mona Ashiya, Ph.D.

 

Director

 

2021

 

Class I – 2024

 

54

Kevin Bitterman, Ph.D.

 

Director

 

2017

 

Class I – 2024

 

46

Class I Directors (Term Expires at 2024 Annual Meeting)

Mona Ashiya, Ph.D. has served as a member of our board of directors since September 2021. Dr. Ashiya is currently a Partner at OrbiMed Advisors LLC, an investment firm, where she has been employed since October 2010. She currently serves on the board of directors of Dyne Therapeutics, Inc., Vor Biopharma, Inc., and Point Biopharma, Inc. and several other private companies. Mr. LubnerDr. Ashiya also previously served on the board of directors of NightstarPrevail Therapeutics plc, (formerly Nasdaq: NITE), focused onInc. and Sierra Oncology, Inc. Dr. Ashiya received her B.A. from the developmentUniversity of one-time retinal gene therapies for patients sufferingCalifornia, Berkeley and her Ph.D. in Cellular, Molecular and Developmental Biology from rare inherited retinal diseases, acquired by Biogen in June 2019 and Therapeutics Acquisition Corporation (d/b/a as Research Alliance Corp. I.), a blank check company focused on the healthcare industry. Mr. Lubner is a memberUniversity of the American Institute of CPAs and a Certified Public Accountant in the Commonwealth of Massachusetts. Mr. Lubner received his B.S. in business administration from Northeastern University and M.S. in taxation from Bentley University. The Board believes that Mr. LubnerPittsburgh. Dr. Ashiya is qualified to serve on our Boardboard of directors based on hisher roles on public and private boards of directors as well as her extensive senior executive experience and his biotechnology company board experience, including serving as chair of the Audit Committee.in investing in healthcare companies.

Tuyen Ong, M.D., MRCOphth., Kevin Bitterman, Ph.D. has served as a member of our Boardboard of directors since August 2020.November 2017. Dr. Ong is a board- certified ophthalmologist and biotechnology/pharmaceutical industry management executive. HeBitterman currently serves as Chief Executive Officer of Ring Therapeutics.a partner at venture firm Atlas Venture, or Atlas, a venture capital firm, where he has been employed since June 2017 and where he focuses on investments in life science companies. Prior to joining Ring Therapeutics,Atlas, Dr. Ong servedBitterman was a partner at Polaris Partners, an investment firm, as Senior Vice President and Head of Biogen Ophthalmology Franchise at Biogen. Dr. Ong served as Chief Development Officer at Nightstar Therapeutics up until its acquisition by Biogen in June 2019. During which time he was involved with the company’s public listing on the Nasdaq, corporate and gene therapy strategy, investor and M&A activities. Dr. Ong brings over 20 years of clinical and drug development experience from both large pharma and biotech, working in the fields of ophthalmology, genetic and rare disease at PTC Therapeutics Inc., Bausch and Lomb Inc. (acquired by Valeant Pharmaceuticals International, Inc.), and Pfizer. Dr. Ong holds an M.D. from the University College London and an M.B.A. from New York University Stern School of Business. He is a member of the Royalhealthcare team from July 2004 to June 2017. Dr. Bitterman serves on the boards of Judo Bio, Kinaset Therapeutics, Mariana Oncology, and Remix Therapeutics. He is board chair at Chroma Medicine and at Vedere Bio II following Novartis’ acquisition of Vedere Bio. Dr. Bitterman was the founding CEO of Editas Medicine (NASDAQ: EDIT), Morphic Therapeutics (NASDAQ: MORF) and Wisterra (acquired by Otsuka), and co-founded Genocea Biosciences(NASDAQ: GNCA). He previously served as a director of Akero Therapeutics, Inc. (Nasdaq: AKRO), Kala Pharmaceuticals, Inc. (Nasdaq: KALA) and Taris Biomedical (acquired by Johnson & Johnson) among other ventures. Dr. Bitterman also serves as board chair of the New England Venture Capital Association. Dr. Bitterman received a B.A. in biology from Rutgers College of Ophthalmologists and a Churchill Fellow. The Board believes thatPh.D. in genetics from Harvard Medical School. Dr. OngBitterman is qualified to serve on our Board based on his extensive leadership and medical experience.

Jason Rhodes has been a member of our Board since April 2016. Since 2014, Mr. Rhodes has been a partner at Atlas Ventures, a venture capital firm. Mr. Rhodes also served as the founding President and Chief Executive Officer of Dyne Therapeutics, Inc. from December 2017 to November 2018. From 2010 to 2014, Mr. Rhodes was at Epizyme, Inc., a biotechnology company, where he most recently served as President and Chief Financial Officer. Prior to that, he led business development at Alnylam Pharmaceuticals, Inc. from 2007 to 2010. Mr. Rhodes currently serves as the chairman of the board of directors of Generation Bio Co., the chairman of the board of directors of Dyne Therapeutics, Inc.,due to his extensive experience investing in, guiding, and leading start-up and early phase companies, as a member of the board of directors of Replimune Group, Inc. and several private companies, and previously servedwell as his experience as a director at Bicycle Therapeutics, Inc. from 2016 to 2020. Mr. Rhodes earned a B.A. in history from Yale Universityof other companies.

Non-Continuing Director

The following table identifies our non-continuing director, and an M.B.A. fromsets forth his principal occupation and business experience during the Wharton School of the University of Pennsylvania. The Board believes that Mr. Rhodes is qualified to serve on our Board based on his extensive leadership experience, his biotechnology company board experiencelast five years and his experience investing in life science companies.

age as of April 14, 2023.

Name

 

Positions and Offices Held with Disc Medicine, Inc.

 

Director
Since

 

Age

Jay Backstrom, M.D., M.P.H.

 

Director

 

2021

 

68

Jim Tananbaum,

14


Jay Backstrom, M.D.has been a director since June 2020. Prior to the closing of the merger between FS Development Corp. (“FSDC”) and Gemini Therapeutics Inc., Dr. Tananbaum also served as the President and Chief Executive Officer of FSDC since June 2020. Dr. Tananbaum is also the chief executive officer of Foresite Capital, a U.S.-focused healthcare investment firm, which he founded in 2011. Prior to founding Foresite Capital, Dr. Tananbaum served as Co-FounderM.P.H. and Managing Director of Prospect Venture Partners L.P. II and III, healthcare venture partnerships, from 2000 to 2010. Dr. Tananbaum was also the Founder of GelTex, Inc. in 1991, an intestinal medicine pharmaceutical company acquired by Sanofi-Genzyme, and Theravance, Inc. in 1997 (now Theravance Biopharma, Inc., a diversified biopharmaceutical company focused on organ-selective medicines, and Innoviva, Inc., a respiratory-focused healthcare asset management company partnered with Glaxo Group Limited). Dr. Tananbaum received a B.S. and a B.S.E.E. from Yale University in Applied Math and Computer Science, and an M.D. and an M.B.A. from Harvard University. The Board believes that Dr. Tananbaum is qualified to serve on our Board based on his scientific, financial and strategic business development expertise gained as a physician, founder of two life science companies and venture capital investor focused on life science companies.

Directors Departing Office Following the Annual Meeting

Jean George’s term as director will expire at the Annual Meeting and she will not stand for re-election. Ms. George’s decision not to stand for re-election was not related to any disagreement with the Company on any matter relating to its operations, policies, practices or any issues regarding financial disclosures, accounting or legal matters.

Jean George has served as a member of our Board since April 2016. Since February 2002, she has been a Managing Director at Advanced Technology Ventures, a venture capital fund, where she currently serves as the East Coast lead partner for healthcare investments. Since March 2012, Ms. George has served as Managing Director at Lightstone Ventures, a venture capital firm. Ms. George currently serves as a member of the board of directors since December 2021. Dr. Backstrom is currently Chief Executive Officer of two publicScholar Rock, a position that he assumed in October 2022. Dr. Backstrom previously served as Executive Vice President, Research and Development at Acceleron Pharma Inc. from December 2019 through December 2021. Dr. Backstrom previously served as Chief Medical Officer of Celgene Corporation from April 2016 until November 2019. Prior to that he served as Senior Vice President, Clinical R&D and Regulatory Affairs at Celgene where he was responsible for the late stage clinical and regulatory programs across the Hematology & Oncology portfolio. Dr. Backstrom joined Celgene in March 2008 as Vice President, Clinical R&D after serving as Vice President, Global Medical Affairs and Safety for Pharmion from 2002 to 2008. Prior to joining Pharmion, Dr. Backstrom was with Marion Merrell Dow and its successor companies Calithera Biosciencesincluding Hoechst Marion Roussel. Dr. Backstrom received his M.D. from Temple University School of Medicine. He did his post graduate training in Internal Medicine at Temple University Hospital and Cyteir Therapeutics. Duringearned a Masters degree in Public Health from Saint Louis University School of Public Health. Dr. Backstrom notified our board of directors in April 2023 of his intention to resign from our board of directors effective as of the close of business on June 9, 2023. Dr. Backstrom’s decision to resign from our board of directors is not the result of any disagreement with the Company relating to any of our operations, policies or practices.

There are no family relationships between or among any of our directors or executive officers. The principal occupation and employment during the past five years Ms. George servedof each of our directors was carried on, in each case except as specifically identified above, with a corporation or organization that is not a parent, subsidiary or other affiliate of us. There is no arrangement or understanding between any of our directors and any other person or persons pursuant to which he or she is to be selected as a member of the board of directors of Zeltiq Aesthetics from 2005director.

There are no material legal proceedings to 2015, Catabasis Pharma from 2010 to 2018 and Acceleron Pharma from 2005 to 2020. Ms. George holds an M.B.A. from Simmons College Graduate School of Management and a B.S. in biology from the University of Maine.

PROPOSAL 2: APPROVAL OF THE COMPANY’S 2021 EMPLOYEE STOCK PURCHASE PLAN

General

On July 29, 2021, the Board adopted, subject to stockholder approval, the Gemini Therapeutics, Inc. 2021 Employee Stock Purchase Plan (the “ESPP”). Based solely on the closing pricewhich any of our Common Stock as reported by The NASDAQ Global Market on August 10, 2021, the maximum aggregate market value of the 4,310,403 shares of Common Stock that could potentially be issued under the ESPP (including the maximum number of shares that could be addeddirectors is a party adverse to the ESPP pursuant to the annual increase described below) is approximately $17,327,820.

Purpose

We believe that the adoption of the ESPP will benefit us by providing employees with an opportunity to acquire sharesor any of our Common Stock, which gives employees a stake in the Company’s growth, and will enable us to attract, retain and motivate valued employees.

Material Terms of the ESPP

The following is a brief summary of certain provisions of the ESPP. A copy of the ESPP is attached as Annex I to this proxy statement and is incorporated herein by reference. The following description of the ESPP does not purport to be complete and is qualified in its entirety by reference to Annex I. We note that the ESPP includes two components: a Code Section 423 Component (the “423 Component”) and a non-Code Section 423 Component (the “Non-423 Component”). It is our intention that the 423 Component qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code of 1986, as amended (the “Code”). Under the Non-423 Component, which does not qualify as an “employee stock purchase plan” within the meaning of Section 423 of the Code, options will be granted pursuant to rules adopted by the compensation committee designed to achieve tax, securities lawssubsidiaries or other objectives for eligible employees.

Shares Subject to the Plan. An aggregate of 430,551 shares will initially be reserved and available for issuance under the ESPP. The ESPP provides that the number of shares reserved and available for issuance will automatically increase on January 1, 2023 and each January 1 thereafter through January 1, 2031, by the least of (i) 1% of the outstanding number of shares of Common Stock on the immediately preceding December 31st, (ii) 430,551 shares of Common Stock, or (iii) such number of shares of Common Stock as determined by the administrator of the ESPP. If our capital structure changes because of a stock dividend, stock split or similar event, the number of shares that can be issued under the ESPP will be appropriately adjusted.

Plan Administration. The ESPP will be administered by the Company’s Board or its delegate (the “Administrator”), which will have full authority to make, administer and interpret such rules and regulations regarding the ESPP as it deems advisable.

Eligibility. All individuals classified as employees on the payroll records of the Company or its designated subsidiaries are eligible to participate in the ESPP so long as they are customarily employed by the Company or a designated subsidiary as of the first day of the applicable offering. No person who owns or holds, or as a result of participation in the ESPP would own or hold, Common Stock or options to purchase Common Stock, that together equal 5% or more of the total outstanding Common Stock is entitled to participate in the ESPP. No employee may exercise an option granted under the ESPP that permits the employee to purchase Common Stock having a value of more than $25,000 (determined using the fair market value of the Common Stock at the time such option is granted) in any calendar year.

Participation; Payroll Deductions. Participation in the ESPP is limited to eligible employees who authorize payroll deductions equal to a whole percentage of base pay to the ESPP. Employees may authorize payroll deductions, with a minimum of 1% of base pay and a maximum of 15% of base pay. As of August 10, 2021, there are approximately 43 employees who would be eligible to participate in the ESPP. Once an employee becomes a participant in the ESPP, that employee will automatically participate in successive offering periods, as described below, until such time as that employee withdraws from the ESPP, becomes ineligible to participate in the ESPP, or his or her employment ceases.

Offering Periods. Unless otherwise determined by the Administrator, each offering of Common Stock under the ESPP will be for a period of six months, which we refer to as an “offering period.” The first offering period under the ESPP is expected to begin and end on the dates determined by the Administrator. Subsequent offerings under the ESPP will generally begin on the first business day occurring on or after each June 1 and December 1 and will end on the last business day occurring on or before the following May 31 and November 30, respectively. Shares are purchased on the last business day of each offering period, with that day being referred to as an “exercise date.” The Administrator may establish different offering periods or exercise dates under the ESPP.

Exercise Price. On the first day of an offering period, employees participating in that offering period will receive an option to purchase shares of our Common Stock. On the exercise date of each offering period, the employee is deemed to have exercised the option, at the exercise price, to the extent of accumulated payroll deductions. The option exercise price is equal to the lesser of (1) 85% the fair market value per share of our Common Stock on the first day of the offering period and (2) 85% of the fair market value per share of our Common Stock on the exercise date. The maximum value of Common Stock that may be issued to any employee under the ESPP in any offering period is $25,000 (valued as of the first day of the offering period) or such other lesser number of shares as determined by the Administrator from time to time.

Subject to certain limitations, the number of shares of our Common Stock a participant purchases in each offering period is determined by dividing the total amount of payroll deductions withheld from the participant’s compensation during the offering period by the option exercise price. In general, if an employee is no longer a participant on an exercise date, the employee’s option will be automatically terminated, and the amount of the employee’s accumulated payroll deductions will be refunded.

Terms of Participation. Except as may be permitted by the Administrator in advance of an offering, a participant may not increase or decrease the amount of his or her payroll deductions during any offering period but may increase or decrease his or her payroll deduction with respect to the next offering period by filing a new enrollment form at least 15 business days before the first day of such offering period. A participant may withdraw from an offering period at any time without affecting his or her eligibility to participate in future offering periods. If a participant withdraws from an offering period, that participant may not again participate in the same offering period, but may enroll in subsequent offering periods. An employee’s withdrawal will be effective as of the business day following the employee’s delivery of written notice of withdrawal under the ESPP.

Term; Amendments and Termination. The ESPP will continue until terminated by the Board. The Board may, in its discretion, at any time, terminate or amend the ESPP. Upon termination of the ESPP, all amounts in the accounts of participating employees will be refunded.

New Plan Benefits

Since participation in the ESPP is voluntary, the benefits or amounts that will be received by or allocated to any individual or group of individuals under the ESPP in the future are not determinable.

Summary of Federal Income Tax Consequences

The following is only a summary of the effect of the U.S. income tax laws and regulations upon an employee and us with respect to an employee’s participation in the ESPP. This summary does not purport to be a complete description of all federal tax implications of participation in the ESPP, nor does it discuss the income tax laws of any municipality, state or foreign country in which any such person has a participant may reside or otherwise be subjectmaterial interest adverse to tax.us.

A participant in the ESPP recognizes no taxable income either as a result of participation in the ESPP or upon exercise of an option to purchase shares of our Common Stock under the terms of the ESPP.15


If a participant disposes of shares purchased upon exercise of an option granted under the ESPP within two years from the first day of the applicable offering period or within one year from the exercise date, which we refer to as a “disqualifying disposition,” the participant will realize ordinary income in the year of that disposition equal to the amount by which the fair market value of the shares on the date the shares were purchased exceeds the purchase price. The amount of ordinary income will be added to the participant’s basis in the shares, and any additional gain or resulting loss recognized on the disposition of the shares will be a capital gain or loss. A capital gain or loss will be long-term if the participant’s holding period is more than 12 months, or short-term if the participant’s holding period is 12 months or less.

If the participant disposes of shares purchased upon exercise of an option granted under the ESPP at least two years after the first day of the applicable offering period and at least one year after the exercise date, the participant will realize ordinary income in the year of disposition equal to the lesser of (1) 15% of the fair market value of the Common Stock on the first day of the offering period in which the shares were purchased and (2) the excess of the amount actually received for the Common Stock over the amount paid. The amount of any ordinary income will be added to the participant’s basis in the shares, and any additional gain recognized upon the disposition after that basis adjustment will be a long-term capital gain. If the fair market value of the shares on the date of disposition is less than the exercise price, there will be no ordinary income and any loss recognized will be a long-term capital loss.

We are generally entitled to a tax deduction in the year of a disqualifying disposition equal to the amount of ordinary income recognized by the participant as a result of that disposition. In all other cases, we are not allowed a deduction.

Vote Required

The affirmative vote of a majority of shares of Common Stock present virtually or represented by proxy at the meeting and entitled to vote on this proposal is required for the approval of the ESPP.

RECOMMENDATION

THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE APPROVALPROPOSAL NO. 2 – RATIFICATION OF THE GEMINI THERAPEUTICS, INC. 2021 EMPLOYEE STOCK PURCHASE PLAN.

PROPOSAL 3: RATIFICATION OF APPOINTMENT OF ERNST & YOUNG LLP AS OURDISC MEDICINE, INC.’S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 20212023

In accordance with its charter,Our stockholders are being asked to ratify the Audit Committeeappointment by the audit committee of our Board has appointed the firmboard of directors of Ernst & Young LLP, (“Ernst & Young”), an independent registered public accounting firm, to be the Company’sor EY, as our independent registered public accounting firm for the fiscal year ending December 31, 2021, and our Board is asking stockholders (on a non-binding advisory basis) to ratify that appointment. We are not required to have the stockholders ratify the appointment of Ernst & Young2023. EY has served as our independent registered public accounting firm. However, the Board believes that submitting the appointment of Ernst & Young to the stockholders for ratification is good corporate practice and governance. If the stockholders do not ratify the appointment, the Audit Committee will reconsider the retention of Ernst & Young, but ultimately may decide to retain Ernst & Young as the Company’s independent registered public accounting firm. Even if the appointment is ratified, the Audit Committee, in its discretion, may change the appointment at any time if it determines that such a change would be in the best interests of the Company and its stockholders.

Before selecting Ernst & Young, the Audit Committee carefully considered that firm’s qualifications as an independent registered public accounting firm for the Company. This included a review of its performance for Gemini Therapeutics Sub, Inc. (“Gemini Sub”), the Company’s wholly-owned subsidiary, in prior years, and the firm’s efficiency, integrity and competence in the fields of accounting and auditing. The Audit Committee has expressed its satisfaction with Ernst & Young in all of these respects.

Withum Smith+Brown, P.C. (“Withum”) served as the independent registered public accounting firm for FSDC with respect to the audit of the 2020 Financial Statements. Withum was informed that it would be replaced by Ernst & Young as the Company’s independent registered public accounting firm following completion of its audit of the Company’s financial statements for the fiscal year ended December 31, 2020 and the consummation of the business combination between Gemini Sub and FSDC on February 5, 2021 (the “Business Combination”).

Representatives of Ernst & Young will be present at the annual meeting, will have the opportunity to make a statement if they desire to do so and will be available to respond to appropriate questions.

Pre-Approval Policies and Proceduressince 2020.

The Audit Committee approves all audit and pre-approves all non-audit services provided by our independent registered public accounting firm before itcommittee is engaged by us to render non-audit services. These services may include audit-related services, tax services and other services.

Independent Registered Public Accounting Firm Fees

The following is a summary and description of fees paid by us to Withum for the fiscal year ended December 31, 2020. The fees do not include fees paid by Gemini Therapeutic, Inc. to Ernst & Young prior to the Business Combination or related to audits and reviews of consolidated financial statements and other historical information of Gemini Therapeutics included in the Company’s registration statements and proxy statement.

Fee Category

  2020 

Audit Fees(1)

  $122,365 

Audit-Related Fees(2)

   —   

Tax Fees(3)

   —   

All Other Fees(4)

   —   
  

 

 

 

Total Fees

  $122,365 
  

 

 

 

(1)

Audit Fees include fees for professional services rendered for professional services rendered for the audit of year-end financial statements, reviews of quarterly financial statements and services that are normally provided by our independent registered public accounting firm in connection with statutory and regulatory filings. The aggregate audit fees are inclusive of required filings with the SEC for the period from June 25, 2020 (inception) through December 31, 2020, and of services rendered in connection with the Company’s initial public offering.

(2)

Audit-Related Fees include fees billed for assurance and related services that are reasonably related to performance of the audit or review of our year-end financial statements and are not reported under “Audit Fees.” These services include attest services that are not required by statute or regulation and consultation concerning financial accounting and reporting standards. Withum was not paid any audit-related fees during the period from June 25, 2020 (inception) through December 31, 2020.

(3)

Tax Fees include fees consist of fees billed for professional services relating to tax compliance, tax planning and tax advice. Withum was not paid any tax fees during the period from June 25, 2020 (inception) through December 31, 2020.

(4)

All Other Fees consist of fees billed for all other services. Withum was not paid any other fees during the period from June 25, 2020 (inception) through December 31, 2020.

Vote Required

The affirmative vote of a majority of the votes cast by holders of shares of common stock who are present virtually or by proxy at a meeting at which a quorum is present is required (on a non-binding advisory basis) to ratify the appointment of Ernst & Young. Abstentions will have no effect on the results of this vote.

RECOMMENDATION

THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE RATIFICATION OF THE SELECTION OF ERNST & YOUNG, CERTIFIED PUBLIC ACCOUNTANTS, AS THE COMPANY’S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2021.

AUDIT COMMITTEE REPORT

The information contained in this report shall not be deemed to be “soliciting material” or “filed” or incorporated by reference in future filings with the SEC, or subject to the liabilities of Section 18 of the Exchange Act, except to the extent that the Company specifically incorporates it by reference into a document filed under the Securities Act or the Exchange Act.

We operate in accordance with a written charter adopted by our Board and reviewed annually by the Audit Committee. We aresolely responsible for (1) overseeing the quality and integrity of Gemini Therapeutic Inc.’s accounting, auditing and financial reporting practices and compliance with legal and regulatory requirements, (2) the qualifications, independence, and performance ofselecting our registered public accounting firm, (3) the performance of our internal audit function, if any, and (4) other matters as set forth in the charter of the Audit Committee approved by the Board. In accordance with the rules of the SEC and Nasdaq, the Audit Committee is composed entirely of members who are independent, as defined by the listing standards of the Nasdaq Stock Market (the “Listing Standards”) and the Gemini Therapeutic Inc.’s corporate governance guidelines. The Board has determined that David Lubner is an “audit committee financial expert” within the meaning of SEC regulations.

We believe that we fully discharged our oversight responsibilities as described in our charter, including with respect to the audit process. As previously described herein, subsequent to the end of the fiscal year ended December 31, 2020, the fiscal year to which our 2020 Annual Report on Form 10-K relates, FSDC consummated the Business Combination. FSDC’s audit committee reviewed and discussed the audited financial statements for the fiscal year ended December 31, 2020 included in our 2020 Annual Report on Form 10-K (the “2020 Financial Statements”), with management and FSDC’s independent registered public accounting firm, Withum Smith+Brown, PC (“Withum”). Management has the responsibility for the preparation of those financial statements, and Withum has the responsibility for the audit of those statements. FSDC’s audit committee discussed with Withum the matters required to be discussed by Public Company Accounting Oversight Board, or PCAOB, Auditing Standard No. 1301 and the SEC. FSDC’s audit committee received the written disclosures and the letter from Withum pursuant to Rule 3526, Communication with Audit Committees Concerning Independence, of the PCAOB, concerning any relationships between Withum and FSDC (prior to the Business Combination) and the potential effects of any disclosed relationships on Withum’s independence, and discussed with Withum its independence. FSDC’s audit committee reviewed with Withum their audit plans, audit scope, identification of audit risks and their audit efforts, and discussed and reviewed the results of Withum’s examination of the 2020 Financial Statements both with and without management.

The Audit Committee considered any fees paid to Withum for the provision of non-audit related services and does not believe that these fees compromise Withum’s independence in performing the audit.

Based on these reviews and discussions with management and Withum, we approved the inclusion of the 2020 Financials in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 for filing with the SEC.

On February 5, 2021, we approved the engagement of Ernst & Young as the independent registered public accounting firm for the fiscal year ending December 31, 2021.

Audit Committee of the Board of Directors

David Lubner, Chair

Dr. Carl Gordon

Jason Rhodes

August 17, 2021

CORPORATE GOVERNANCE

Board Composition and Leadership Structure

As of August 10, 2021, the Board2023. Stockholder approval is comprised of eight members. The Board has a flexible policy with respectnot required to the combination or separation of the offices of Chair of the Board and Chief Executive Officer. Currently, Dr. Georges Gemayel servesappoint EY as our independent Chair, and Jason Meyenburg serves as our Chief Executive Officer. The Boardregistered public accounting firm. However, the board of directors believes that by having separate roles,submitting the Chief Executive Officerappointment of EY to the stockholders for ratification is ablegood corporate governance. If the stockholders do not ratify this appointment, the audit committee will reconsider whether to focus onretain EY. If the day-to-day business and affairsselection of EY is ratified, the Company andaudit committee, at its discretion, may direct the Chair is able to focus on key strategic issues, board leadership and communication. While the Board believes this leadership structure is currentlyappointment of a different independent registered public accounting firm at any time it decides that such a change would be in the best interestsinterest of Disc and its stockholders.

A representative of EY is expected to be present at the Annual Meeting and will have an opportunity to make a statement if he or she desires to do so and to respond to appropriate questions from our stockholders.

We incurred the following fees from EY for the audit of the Companyfinancial statements and for other services provided during the years ended December 31, 2022 and 2021.

 

2022

 

 

2021

 

Audit fees(1)

 

$

1,145,000

 

 

$

1,085,000

 

Audit-Related fees(2)

 

 

 

 

 

 

Tax fees(3)

 

 

35,000

 

 

 

 

All other fees(4)

 

 

 

 

 

 

Total fees

 

$

1,180,000

 

 

$

1,085,000

 

(1)
Audit Fees consist of fees billed for professional services rendered in connection with the audit of our annual financial statements and reviews of our quarterly financial statements for those fiscal years. This category also includes fees for services incurred in connection with the filing of our Registration Statement on Form S-4 and related services that are normally provided in connection with regulatory filings. We engaged EY in 2022 to audit our 2022 and 2021 annual financial statements.
(2)
Audit-related fees consist of services that are reasonably related to the performance of the audit or review of our financial statements. There were no such fees incurred in 2022 or 2021.
(3)
Tax Fees consist of fees for tax compliance, tax advice and tax planning.
(4)
There were no other fees incurred in 2022 or 2021.

Audit Committee Pre-approval Policy and Procedures

It is the policy of our Audit Committee that all services to be provided by our independent registered public accounting firm, including audit services and permitted audit-related and non-audit services, must be approved in advance by our Audit Committee, except that pre-approval is not required for the provision of non-audit services if the “de minimis” provisions of Section 10A(i)(1)(B) of the Exchange Act are satisfied. The Audit Committee may delegate authority to pre-approve non-audit services to one or more members of the Audit Committee, who shall present all decisions made to pre-approve an activity to the full Audit Committee at its stockholders,first meeting following such decision. All services provided by EY during fiscal years 2022 and 2021 were pre-approved by the Audit Committee in accordance with the pre-approval policy described above.

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Vote Required; Board also recognizes that future circumstances could lead it to combine these roles.Recommendation

Director Independence

Current Nasdaq listing guidelines require thatThe affirmative vote of a majority of votes properly cast for and against this Proposal No. 2 is required to ratify the appointment of Ernst & Young LLP as our Boardindependent registered public accounting firm for the fiscal year ending December 31, 2023. Abstentions and broker non-votes, if any, will have no effect on the outcome of the vote.

The board of directors recommends voting “FOR” Proposal No. 2 to ratify the appointment of Ernst & Young LLP as Disc Medicine, Inc.’s independent registered public accounting firm for the fiscal year ending December 31, 2023.

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CORPORATE GOVERNANCE

Director Nomination Process

Our board of directors is responsible for selecting its own members. The board of directors delegates the selection and nomination process to our nominating and corporate governance committee, with the expectation that other members of the board of directors, and of management, will be independent. Anrequested to take part in the process as appropriate.

Generally, our nominating and corporate governance committee identifies candidates for director nominees in consultation with management, through the use of independent director search firms, 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, the nominating and corporate governance committee confirms that the candidates meet the minimum qualifications for director nominees established by the nominating and corporate governance committee. These criteria include,among other things, the skills of the candidate, his or her depth and breadth of business experience and other background characteristics, his or her independence and the needs of the board of directors.

The nominating and corporate governance committee may gather information about the candidates through meetings from time to time, questionnaires or background checks to evaluate biographical information and background material relating to potential candidates, and interviews of selected candidates by members of the committee and our board of directors. The nominating and corporate governance committee then meets as a group to discuss and evaluate the qualities and skills of each candidate, both on an individual basis and taking into account the overall composition and needs of our board of directors. Based on the results of the evaluation process, the nominating and corporate governance committee recommends candidates for the board of directors’ approval as director nominees for election to the board of directors.

The board of directors does not believe that limits on the number of consecutive terms a director may serve or on the directors’ ages are appropriate at this stage. Instead, each director’s performance and their continued service is assessed by the nominating and corporate governance committee in light of the needs of the board of directors and other relevant factors.

Stockholders may recommend individuals to the nominating and corporate governance committee for consideration as potential director candidates. Any such proposals should be submitted to our corporate secretary at our principal executive offices no later than the close of business on the 90th day nor earlier than the close of business on the 120th day prior to the one-year anniversary of the date of the preceding year’s annual meeting and should include appropriate biographical and background material to allow the nominating and corporate governance committee to properly evaluate the potential director candidate and the number of shares of our stock beneficially owned by the stockholder proposing the candidate. Stockholder proposals should be addressed to Disc Medicine, Inc., 321 Arsenal Street, Suite 101, Watertown, MA 02472, Attention: Corporate Secretary. Assuming that biographical and background material has been provided on a timely basis in accordance with our bylaws, any recommendations received from stockholders will be evaluated in the same manner as potential nominees proposed by the nominating and corporate governance committee. If our board of directors determines to nominate a stockholder-recommended candidate and recommends his or her election, then his or her name will be included on our proxy card for the next annual meeting of stockholders. See the section of this proxy statement titled “Stockholder Proposals” for a discussion of submitting stockholder proposals.

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Director Independence

Our common stock is listed on The Nasdaq Global Market, or Nasdaq.Under the Nasdaq listing rules, independent directors must comprise a majority of a listed company’s board of directors within twelve months from the date of listing. In addition, the Nasdaq listing rules require that, subject to specified exceptions, each member of a listed company’s audit, compensation and nominating and corporate governance committees be independent within twelve months from the date of listing. Audit committee members must also satisfy additional independence criteria, including those set forth in Rule 10A 3 under the Securities Exchange Act of 1934, as amended, or the Exchange Act, and compensation committee members must also satisfy the independence criteria set forth in Rule 10C 1 under the Exchange Act. Under Nasdaq listing rules, a director will only qualify as an “independent director” is defined generally as a person other than an executive officer or employee of the Company or any other individual having a relationship which,if, in the opinion of our Board,that company’s board of directors, that person does not have a relationship that would interfere with the exercise of independent judgementjudgment in carrying out the responsibilities of a director. The Board

In order to be considered independent for purposes of Rule 10A 3 under the Exchange Act, a member of an audit committee of a listed company may not, other than in his or her capacity as a member of the audit committee, the board of directors, or any other board of directors committee: (1) accept, directly or indirectly, any consulting, advisory, or other compensatory fee from the listed company or any of its subsidiaries, other than compensation for board of directors service; or (2) be an affiliated person of the listed company or any of its subsidiaries. In order to be considered independent for purposes of Rule 10C 1, the board of directors must consider, for each member of a compensation committee of a listed company, all factors specifically relevant to determining whether a director has a relationship to such company which is material to that director’s ability to be independent from management in connection with the duties of a compensation committee member, including, but not limited to: the source of compensation of the director, including any consulting advisory or other compensatory fee paid by such company to the director, and whether the director is affiliated with the company or any of its subsidiaries or affiliates.

Our board of directors has determined that each individualof our directors, with the exception of Dr. Quisel, who serves onas our President and Chief Executive Officer, and Georges Gemayel, who served as the Board, other than Mr. Meyenburgchief executive officer of Gemini prior to the merger, is an “independent director” within the meaning of the director independence standards established by the SEC and Dr. Tananbaum, qualifiesNasdaq. Our board of directors also determined that Mark Chin, Liam Ratcliffe and William White who comprise our audit committee, Mona Ashiya, Kevin Bitterman and Donald Nicholson, who comprise our compensation committee, and Mona Ashiya, Kevin Bitterman, Donald Nicholson and Liam Ratcliffe, who comprise our nominating and corporate governance committee, satisfy the independence standards for such committees established by the SEC and Nasdaq, as an independent director under the Listing Standards.applicable. In making such independence determination,determinations, our Board considered theboard of directors evaluated, and will evaluate at least on an annual basis, all relationships that each such non-employee director has with us andour company in light of all other facts and circumstances that our Boardboard of directors deemed relevant in determining their independence.independence, including the beneficial ownership of our capital stock by each non-employee director.

The non-management directors meet at regularly scheduled executive sessions without management participation, and at least once each year an executive session with only independent directors present is held. In 2022, there were four executive sessions at which only the independent directors were present.

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Board MeetingsDiversity

Our nominating and Attendance

corporate governance committee has a written board diversity policy and believes that our board of directors, taken as a whole, should embody a diverse set of skills, experience, knowledge and backgrounds, including an appropriate number of women directors. The board of directors has not adopted targets for the number or proportion of FSDC, priorfemale directors as the company is committed to a merit-based system for board composition, which reflects a diverse and inclusive culture where directors believe that their views are heard, their concerns are attended to and they serve in an environment where bias, discrimination and harassment on any matter are not tolerated. When identifying suitable candidates for appointment to the Business Combination, held two meetings, including actions by written consent, duringboard of directors, the fiscal year ended December 31, 2020. Eachcompany considers candidates on merit against objective criteria and the needs of FSDC’s then-incumbent directors attended 100% of the meetings of FSDC’s board of directors and considers the committeesneed to increase the number of FSDC’swomen directors on the board of directors on which he or she served duringto meet the fiscal year ended December 31, 2020 (in each case, which were held duringcompany’s goal. When recruiting new candidates for appointment, search protocols will go beyond the period for which he or she wasnetworks of existing board of director members and will incorporate diversity, including identification of female candidates, as a director and/or a member ofcomponent. Any search firm engaged to assist the applicable committee).

Director Attendance at Annual Meeting of Stockholders

We have no policy regarding attendance of our directors at the Annual Meeting.

Board Committees

The Board has the authority to appoint committees to perform certain management and administration functions. Prior to the Business Combination, FSDC’s board of directors maintained two standing committees:or the nominating and corporate governance committee in identifying candidates for appointment to the board of directors shall be directed to include women candidates and women candidates will be included in the board of director’s evergreen list of potential board of director nominees.

The company has not adopted targets for the number or proportion of directors who are members of a visible minority, Indigenous peoples or persons with a disability, or the designated groups, or for other diversity characteristics at this time. For now, the board of directors has chosen to focus on gender in exclusion to other diversity characteristics and the nominating and corporate governance committee does not specifically consider the level of representation of members of designated groups on the board of directors in identifying and nominating candidates for election or re-election to the board of directors.

The below board diversity matrix reports self-identified diversity statistics for the board of directors.

Board Diversity Matrix (As of April 20, 2023)

Total Numbers of Directors

 

9

 

Female

 

Male

 

Non-
Binary

 

Did not
Disclose
Gender

Part 1: Gender Identity

 

 

 

 

 

 

 

 

Directors

 

1

 

8

 

 

 

 

Part 2: Demographic Background

 

 

 

 

 

 

 

 

African American or Black

 

 

 

 

 

 

 

 

Alaskan Native or Native American

 

 

 

 

 

 

 

 

Asian

 

1

 

1

 

 

 

 

Hispanic or Latinx

 

 

 

 

 

 

 

 

Native Hawaiian or Pacific Islander

 

 

 

 

 

 

 

 

White

 

 

 

7

 

 

 

 

Two or More Races or Ethnicities

 

 

 

 

 

 

 

 

LGBTQ+

 

 

 

 

 

 

 

 

Did Not Disclose Demographic Background

 

 

 

 

 

 

 

 

Board Committees

Our board of directors has established an audit committee, a compensation committee and a compensationnominating and corporate governance committee. In connection with the consummation of the Business Combination and the contemporaneous disbandingEach of these committees operates under a charter that has been approved by our Board formed and constituted our Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee. Theboard of directors. We believe that the composition and responsibilitiesfunctioning of all of our committees comply with the applicable requirements of Nasdaq, the Sarbanes-Oxley Act of 2002 and SEC rules and regulations that are applicable to us. We intend to comply with future requirements to the extent they become applicable to us. A copy of each committee are described below. Members serve on these committees until their resignation or until otherwise determined bycharter can be found under the Board. The charters for each“Investors & Media—Corporate Governance” section of these committees are available on Gemini’sour website, which is located at www.geminitherapeutics.comwww.discmedicine.com. InformationWe do not incorporate the information contained on, or accessible through, Gemini’sour corporate website isinto this proxy statement, and you should not consider it a part of this prospectus,proxy statement.

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The board of directors has not adopted position descriptions for the chairperson of each committee. However, each committee chairperson understands that the responsibilities of the committee chairperson include responsibility for providing leadership to the committee, including chairing meetings in a manner that facilitates open discussions and expressions of competing views, and reporting to the board of directors on the work of the committee and any recommendations for approval by the board of directors. The committee chairperson also ensures that the committee receives the information required for the performance of its responsibilities. The board of directors may also establish other committees from time to time to assist the company and the inclusionboard of such website address in this prospectus is an inactive textual reference only.

directors.

As of August 10, 2021, the membership of each committee of our Board is as follows:

Name

Audit
Committee
Compensation
Committee
Nominating and
Corporate Governance
Committee

Georges Gemayel, Ph.D.

xx

Jean George

xx (Chair)

Carl L. Gordon, Ph.D.

x

David Lubner*

x (Chair)

Tuyen Ong, M.D., MRCOphth

x (Chair)

Jason Rhodes

xx

Jim Tananbaum, M.D.

xx

*

Financial Expert

Below is a description of each committee of the Board.

Audit Committee

David Lubner, Dr. Carl Gordon and Jason Rhodes serve on our Audit Committee, which is chaired by Mr. Lubner. The Board has determined each member of the Audit Committee is independent under the Listing Standards, and Rule 10A-3(b)(1) of the Exchange Act. The Board has determined that David Lubner is an “audit committee financial expert” within the meaning of SEC regulations. The Board has also determined that each member of the Audit Committee has the requisite financial expertise required under the applicable requirements of the Nasdaq Stock Market. In arriving at this determination, the Board has examined each Audit Committee member’s scope of experience and the nature of their employment in the corporate finance sector.

The primary purpose of the Audit Committeeour audit committee is to discharge the responsibilities of the Boardboard of directors with respect to our accounting, financial, and other reporting and internal control practices and to oversee our independent registered accounting firm. The report of the audit committee is included in this proxy statement under “Report of the Audit Committee.”

Specific responsibilities of our Audit Committeeaudit committee include:

selecting a qualified firm to serve as the independent registered public accounting firm to audit Gemini’sour financial statements;

statements

assessing

helping to ensure the independence and performance of the independent registered public accounting firm;

discussing and reviewing the scope and results of the audit with the independent registered public accounting firm, and management members responsible for preparing our financial statements;

reviewing, and discussing with management and the independent accountants, our interim and year-end operating results and related disclosures as well as all critical accounting policies and practices used by the Company and any significant financial reporting issues that have arisen in connection with preparation of such results;

developing procedures for employees to submit concerns anonymously about questionable accounting or audit matters;

reviewing policies on risk assessment and risk management;

reviewing related party transactions for potential conflict of interests;

transactions;

coordinating the oversight and reviewing the adequacy of our internal control over financial reporting, including obtaining and reviewing a report by the independent registered public accounting firm at least annually, that describes Gemini’sits internal quality-control procedures, any material issues with such procedures, and any steps taken to deal with such issues when required by applicable law; and

approving (or, as permitted, pre-approving) all audit and all permissible non-audit service to be performed by the independent registered public accounting firm.

The members of the Audit Committee are William White, Liam Ratcliffe and Mark Chin. William White is the chair of the Audit Committee and our board of directors has determined that he qualifies as an “audit committee financial expert” within the meaning of SEC regulations. To qualify as independent to serve on our audit committee, listing standards of Nasdaq and the applicable SEC rules require that a director not accept any consulting, advisory or other compensatory fee from us, other than for service as a director, or be an affiliated person of the company. During the fiscal year ended December 31, 2020, FSDC’s2022, the Disc audit committee met one time. The report of our Audit Committee is included in this proxy statement under “Reportfour times. We believe that the composition of the Audit Committee.”

Compensation Committee

Jean George, Dr. Tuyen Ong, Dr. Georges Gemayel, and Dr. Jim Tananbaum serve on our Compensation Committee, which is chaired by Dr. Ong. The Board has determined each member is a “non-employee director” as defined in Rule 16b-3 promulgated underaudit committee complies with the Exchange Act. The Board has determined each memberapplicable requirements of the Compensation Committee, other than Dr. Tananbaum, is independent under the Listing Standards. The Listing Standards provide that, under limitedrules and exceptional circumstances, a director who is not a current officer or employee (or a family memberregulations of an officer or employee) of our Company, but who does not otherwise meet the independence criteria, (i) may serve as a member of compensation committee if such membership is in the best interests of our company and our shareholders and (ii) such member does not serve longer than two years. The Board has elected to rely on this limited exception in appointing Dr. Tananbaum as a member of the Compensation Committee. In making this election, the Board considered Dr. Tananbaum’s extensive experience in the life sciences industryNasdaq and the marketplace for life science executives. SEC.

Compensation Committee

The primary purpose of the Compensation Committeeour compensation committee is to discharge the responsibilities of the Boardboard of directors to oversee itsour compensation policies, plans and programs and to review and determine the compensation to be paid to itsour executive officers, directors and other senior management, as appropriate.

Specific responsibilities of the Compensation Committeeour compensation committee include:

reviewing and approving, or recommending that our Boardthe board of directors approve, the compensation of our executive officers;

21


reviewing and recommending to our Boardboard of directors the compensation of our directors;

administering our stock and equity incentive plans;

selecting independent compensation consultants and assessing whether there are any conflicts of interest with any of the committee’s compensation advisors;

reviewing and approving, or recommending that our Boardthe board of directors approve, incentive compensation and equity plans, severance agreements, change-of-control protections and any other compensatory arrangements for our executive officers and other senior management, as appropriate;

reviewing and establishing general policies relating to compensation and benefits of our employees; and

reviewing our overall compensation philosophy.

The members of the Compensation Committee are Donald Nicholson, Mona Ashiya and Kevin Bitterman. Dr. Nicholson is the chair of the Compensation Committee. Each member of our compensation committee will be a “non-employee” director within the meaning of Rule 16b-3 of the rules promulgated under the Exchange Act and independent within the meaning of the independent director guidelines of Nasdaq. During the fiscal year ended December 31, 2020, FSDC’s2022, the Disc compensation committee didmet three times. We believe that the composition of the compensation committee complies with the applicable requirements of the rules and regulations of Nasdaq and the SEC.

Our Compensation Committee makes most of the significant adjustments to annual compensation, determines bonus and equity awards and establishes new performance objectives. However, our Compensation Committee also considers matters related to individual compensation, such as compensation for new executive hires, as well as high-level strategic issues, such as the efficacy of the Company’s compensation strategy, potential modifications to that strategy and new trends, plans or approaches to compensation. Generally, the Compensation Committee’s process comprises two related elements: the determination of compensation levels and the establishment of performance objectives for the current year. For executives other than the Chief Executive Officer, our Compensation Committee solicits and considers evaluations and recommendations submitted to the Compensation Committee by the Chief Executive Officer. In the case of the Chief Executive Officer, the evaluation of his performance is conducted by the Compensation Committee, which determines any adjustments to his compensation as well as awards to be granted. For all executives and directors, as part of its deliberations, the Compensation Committee may review and consider, as appropriate, materials such as financial reports and projections, operational data, tax and accounting information, tally sheets that set forth the total compensation that may become payable to executives in various hypothetical scenarios, executive and director stock ownership information, company stock performance data, analyses of historical executive compensation levels and current company-wide compensation levels and analyses of executive and director compensation paid at a peer group of other companies approved by our Compensation Committee. In 2022, the Compensation Committee retained the services of Pearl Meyer & Partners, LLC, or Pearl Meyer, as its external, independent compensation consultant and considered Pearl Meyer’s input on certain compensation matters as they deemed appropriate.

Compensation Consultants

In fiscal year 2022, our compensation committee engaged Pearl Meyer to provide compensation consulting services. During fiscal year 2022, Pearl Meyer’s services included advising on equity compensation programs and the development of the Company’s peer group and providing support and analysis regarding executive and director compensation. Our compensation committee has assessed the independence of Pearl Meyer consistent with SEC rules and Nasdaq listing standards and has concluded that the engagement of Pearl Meyer does not holdraise any meetings.

conflict of interest.

Nominating and Corporate Governance Committee

Jean George, Dr. Georges Gemayel, Jason Rhodes and Dr. Jim Tananbaum serve on the Nominating and Corporate Governance Committee, which is chaired by Ms. George. The Board has determined each member of the Nominating and Corporate Governance Committee, other than Dr. Tananbaum, is independent under the Listing Standards. The Listing Standards provide that, under limited and exceptional circumstances, a director who is not a current officer or employee (or a family member of an officer or employee)Specific responsibilities of our company, but who does not otherwise meet the independence criteria, (i) may serve as a member of nominating and corporate governance committee if such membership is in the best interests of our company and our stockholders and (ii) such member does not serve longer than two years. The Board has elected to rely on this limited exception in appointing Dr. Tananbaum as a member of the Nominating and Corporate Governance Committee. In making this election, the Board considered Dr. Tananbaum’s extensive experience in the life sciences industry and in serving on the board of directors of numerous organizations.

Specific responsibilities of our Nominating and Corporate Governance Committee include:

developing and recommending to our Board criteria for board and committee membership;

establishing procedures for identifying and evaluating Board candidates, including nominees recommend by stockholders;

identifying, evaluating and selecting, or recommending that our Boardthe board of directors approve, nominees for election to our Board;

the board of directors;

22


evaluating the performance of our Boardthe board of directors and of individual directors;

reviewing developments in corporate governance practices;

evaluating the adequacy of our corporate governance practices and reporting;

reviewing management succession plans; and

developing and making recommendations to our Boardthe board of directors regarding corporate governance guidelines and matters.

Prior to the Business Combination, FSDC did not have a nominating and corporate governance committee.

The Board’s Role in Risk Oversight

Onemembers of the key functions of our Board is informed oversight of our risk management process. Our Board administers this oversight function directly through our Board as a whole, as well as through various standing committees of our Board that address risks inherent in their respective areas of oversight. In particular, our Board is responsible for monitoring and assessing strategic risk exposure, and our Audit Committee has the responsibility to consider and discuss our major financial risk exposures and the steps our management has taken to monitor and control these exposures. The Audit Committee also has the responsibility to review with management the process by which risk assessment and management is undertaken, monitor compliance with legal and regulatory requirements, and review the adequacy and effectiveness of our internal controls over financial reporting. Our Nominating and Corporate Governance Committee are Kevin Bitterman, Mona Ashiya, Donald Nicholson and Liam Ratcliffe. Dr. Bitterman is responsible for periodically evaluating our Company’s corporate governance policies and systems in lightthe chair of the governance risks that our Company faces and the adequacy of our Company’s policies and procedures designed to address such risks. Our Compensation Committee assesses and monitor whether any of our compensation policies and programs is reasonably likely to have a material adverse effect on our Company.

Director Nominations

Our Nominating and Corporate Governance CommitteeCommittee. During the fiscal year ended December 31, 2022, the Disc nominating and corporate governance committee did not meet. We believe that the composition of the nominating and corporate governance committee meets the requirements for independence under, and the functioning of such nominating and corporate governance committee complies with, any applicable requirements of the rules and regulations of Nasdaq and the SEC.

The nominating and corporate governance committee considers candidates for board of directors membership suggested by its members and the chief executive officer. Additionally, in selecting nominees for directors, the nominating and corporate governance committee will review candidates recommended by stockholders in the same manner and using the same general criteria as candidates recruited by the committee and/or recommended by our board of directors. Any stockholder who wishes to recommend a candidate for consideration by the committee as a nominee for director should follow the procedures described later in this proxy statement under the heading “Stockholder Proposals.” The nominating and corporate governance committee will also consider whether to nominate any person proposed by a stockholder in accordance with the provisions of our bylaws relating to stockholder nominations as described later in this proxy statement under the heading “Stockholder Proposals.”

Identifying and Evaluating Director Nominees.

Our board of directors is responsible for identifying individuals qualified to become membersfilling vacancies on our board of our Board,directors and recommending to our Board, such persons to be nominatedfor nominating candidates for election asby our stockholders each year in the class of directors except where we are legally required by contract, law, or otherwisewhose term expires at the relevant annual meeting. The board of directors delegates the selection and nomination process to provide third partiesthe nominating and corporate governance committee, with the right to nominate.

The Nominating and Corporate Governance Committee’s process to identify and evaluate director candidates includes requests to boardexpectation that other members and others for recommendations, engaging third party search firms, meetings from time to time to evaluate skills and other biographical materials of potential candidates, and interviews members of the committee, management team members, and our Board. In identifying, assessing and evaluating potential director candidates, the committee will consider and evaluate a wide range of factors, including biographical information, educational background, diversity of professional experience, knowledge of the Company’s business, integrity, professional reputation, independence, wisdom, specific skills that may be helpful to the Company, and the ability to represent the best interests of the Company’s stockholders. Furthermore, qualifications, qualities, and skills that the committee generally believes that are important for all Board members to possess include a long-term reputation for high ethical and moral standards, high accomplishment in such candidate’s field, sufficient time and availability to devote to the affairs of the Company, and skills that are complementary to those of the existing Board. The Nominating and Corporate Governance Committee believes that the personal backgrounds and professional qualifications of our directors, considered as a group, should provide a diverse mix of experience, knowledge, and abilities that will allow our Board to promote the Company’s strategic objectives and fulfill its responsibilities to its stockholders.

The Board will consider director candidates recommended for nomination by the Company’s shareholders during such times as they are seeking proposed nominees to stand for election at the next annual meeting of stockholders (or, if applicable, a special meeting of shareholders). The Company’s stockholders that wish to nominate a director for election to the Board followed the procedures set forth in the Company’s Bylaws.

Compensation Committee Interlocks and Insider Participation

Our Compensation Committee currently consists of Jean George, Dr. Tuyen Ong, and Dr. Jim Tananbaum. Other than Dr. Tananbaum, no member of the Compensation Committee has ever been an officer or employee of the Company or had any other relationship requiring disclosure herein. Prior to the closing of the Business Combination, Dr. Tananbaum served as the President and Chief Executive Officer of FSDC from June 2020 until such closing. None of our current executive officers serves, or has served during the last fiscal year, as a member of the board of directors, compensationand of management, will be requested to take part in the process as appropriate.

Generally, the nominating and corporate governance committee identifies candidates for director nominees in consultation with management, through the recommendations submitted by stockholders or through such other boardmethods as the nominating and corporate governance committee performing equivalent functionsdeems to be helpful to identify candidates. Once candidates have been identified, the 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, comprehensive background checks or any other entitymeans that has one or more executive officers servingthe nominating and corporate governance committee deems to be appropriate in the evaluation process. The nominating and corporate governance committee then meets as onea group to discuss and evaluate the qualities and skills of each candidate, both on an individual basis and taking into account the overall composition and needs of our board of directors. Based on the results of the evaluation process, the nominating and corporate governance committee recommends candidates for the board of directors’ approval to fill a vacancy or as director nominees for election to the board of directors by our stockholders each year in the class of directors whose term expires at the relevant annual meeting.

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Board and Committee Meetings Attendance

The Disc board of directors held 14 meetings during 2022. During 2022, each of the Disc directors then in office attended at least 75% of the aggregate of all meetings of the board of directors and all meetings of the committees of the board of directors on which such director then served. A director’s attendance rate is considered by the nominating and corporate governance committee when making recommendations for re-appointment of the director. Continuing directors and nominees for election as directors in a given year are required to attend the annual meeting of stockholders, barring significant commitments or on our Compensation Committee.special circumstances.

CodeDirector Attendance at Annual Meeting of Business Conduct and EthicsStockholders

Gemini has adopted a Code of Business Conduct and Ethics that applies to all of its employees, officers and directors, including those officersDirectors are responsible for financial reporting, in accordance withattending the rulesannual meeting of Nasdaq and the SEC. The Code of Business Conduct and Ethics is available on Gemini’s website at www.geminitherapeutics.com. Information contained on or accessible through such website is not a part of this proxy statement, and the inclusion of the website address in this proxy statement is an inactive textual reference only. Gemini intends to disclose any amendments to the Code of Business Conduct and Ethics, or any waivers of its requirements, on its websitestockholders to the extent required by the applicable rules and exchange requirements.practicable. We did not hold an annual meeting of stockholders in 2022.

InsiderPolicy on Trading, Prohibition Against Pledging and Anti-Hedging PoliciesHedging of Company Stock

Certain transactions in our securities (such as purchases and sales of publicly traded put and call options, and short sales) create a heightened compliance risk or could create the appearance of misalignment between management and stockholders. In addition, securities held in a margin account or pledged as collateral may be sold without consent if the owner fails to meet a margin call or defaults on the loan, thus creating the risk that a sale may occur at a time when an officer or director is aware of material, non-public information or otherwise is not permitted to trade in Company securities. Our insider trading policy expressly prohibits short sales and derivative transactions of our stock by our executive officers, directors, employees, designated consultants and contractors. Our insider trading policy expressly prohibits purchases or sales of puts, calls, or other derivative securities of the Company or any derivative securities that provide the economic equivalent of ownership.

Compensation Committee Interlocks and Insider Participation

Each member of the compensation committee is a “non-employee” director within the meaning of Rule 16b-3 of the rules promulgated under the Exchange Act and independent within the meaning of the independent director guidelines of Nasdaq. None of our executive officers serves as a member of the board of directors or compensation committee of any entity that has one or more executive officers who serves on our board of directors or compensation committee.

Code of Business Conduct and Ethics

We have also adopted a written code of business conduct and ethics that applies to our directors, officers and employees, including our principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. A copy of the code is posted on the “Investors & Media— Corporate Governance” section of our website, which is located at www.discmedicine.com. If we make any substantive amendments to, or grant any waivers from, the code of business conduct and ethics for any officer or director, we will disclose the nature of such amendment or waiver on our website or in a Current Report on Form 8-K to be filed with the SEC. Employees are required to annually certify compliance with the code.

Board Leadership Structure

Our board of directors is currently chaired by Donald Nicholson, an independent director. Currently, the role of chairman of the board of directors is separated from the role of chief executive officer. Separating these positions allows our chief executive officer to focus on our day-to-day business, while allowing the chairperson of the board of directors to lead the board of directors in its fundamental role of providing advice to and independent oversight of management. The board of directors has not adopted a position description for the chairperson. However, there is a shared understanding on the board of directors of the chairperson’s responsibilities. The chairperson’s primary role is to provide leadership to the board of directors and its committees, including chairing meetings in a manner that facilitates open discussions and expressions of competing views. The chairperson is also responsible for, among other things, assisting the board of directors in obtaining information required for the performance of their duties, retaining appropriately qualified and independent advisors as needed, working with the board to support board development and to ensure a proper committee structure is in place, providing a link between the board of directors and management and acting in an advisory capacity to the chief executive officer in all matters concerning the interests and management of the company. Our board of directors recognizes the time, effort and energy that the chief executive officer must

24


devote to his position in the current business environment, as well as the commitment required to serve as the chairperson of the board of directors, particularly as the board of directors’ oversight responsibilities continue to grow. Our board of directors also believes that this structure ensures a greater role for the non-management directors in the oversight of our company and active participation of the independent directors in setting agendas and establishing priorities and procedures for the work of our board of directors. Our board of directors believes its administration of its risk oversight function has not affected its leadership structure. Although our by-laws do not require our chairperson of the board and chief executive officer positions to be separate, our board of directors believes that having separate positions is the appropriate leadership structure for us at this time. The board of directors has not adopted a separate position description for our chief executive officer. The role and responsibilities of the chief executive officer is delineated by frequent discussion and interaction between the board chairperson and the chief executive officer.

Oversight of Risk

Risk is inherent with every business, and how well a business manages risk can ultimately determine its success. We face a number of risks, including risks relating to our financial condition, development and commercialization activities, operations, strategic direction and intellectual property as more fully discussed under “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Management is responsible for the day-to-day management of risks we face, while our board of directors, as a whole and through its committees, has responsibility for the oversight of risk management. In its risk oversight role, our board of directors has the responsibility to satisfy itself that the risk management processes designed and implemented by management are adequate and functioning as designed.

Our board of directors regularly discusses with management our major risk exposures, the potential impact of these risks on our business and the steps we take to manage them. The risk oversight process includes receiving regular reports from board of director committees and members of senior management to enable our board of directors to understand the company’s risk identification, risk management and risk mitigation strategies with respect to areas of potential material risk, including operations, finance, legal, regulatory, strategic and reputational risk.

The audit committee reviews information regarding liquidity and operations, and oversees our management of financial risks. Periodically, the audit committee reviews our policies with respect to risk assessment, risk management, loss prevention and regulatory compliance. Oversight by the audit committee includes direct communication with our external auditors, and discussions with management regarding significant risk exposures and the actions management has taken to limit, monitor or control such exposures. The compensation committee is responsible for assessing whether any of our compensation policies or programs has the potential to encourage excessive risk-taking. The nominating and corporate governance committee manages risks associated with the independence of the board of directors, corporate disclosure practices, and potential conflicts of interest. While each committee is responsible for evaluating certain risks and overseeing the management of such risks, the entire board of directors is regularly informed through committee reports about such risks. Matters of significant strategic risk are considered by our board as a whole.

Communication with the Directors of Disc Medicine, Inc.

Any interested party with concerns about our company may report such concerns to the board of directors or the chairman of our board of directors or the chairman of our nominating and corporate governance committee, by submitting a written communication to the attention of such director at the following address:

c/o Disc Medicine, Inc.

321 Arsenal Street, Suite 101

Watertown, MA 02472

United States

You may submit your concern anonymously or confidentially by postal mail. You may also indicate whether you are a stockholder, customer, supplier, or other interested party.

25


A copy of any such written communication may also be forwarded to our legal counsel and a copy of such communication may be retained for a reasonable period of time. The director may discuss the matter with our legal counsel, with independent advisors, with non-management directors, or with our management, or may take other action or no action as the director determines in good faith, using reasonable judgment, and applying his or her own discretion.

Communications may be forwarded to other directors if they relate to important substantive matters and include suggestions or comments that may be important for other directors to know. In general, communications relating to corporate governance and long-term corporate strategy are more likely to be forwarded than communications relating to ordinary business affairs, personal grievances, and matters as to which we tend to receive repetitive or duplicative communications.

The audit committee oversees the procedures for the receipt, retention, and treatment of complaints received by the company regarding accounting, internal accounting controls, or audit matters, and the confidential, anonymous submission by employees of concerns regarding questionable accounting, internal accounting controls or auditing matters. We have also established a toll-free telephone number for the reporting of such activity, which is (833) 869-0478.

Section 16(a) Beneficial Ownership Reporting Compliance

Section 16(a) of the Exchange Act requires our directors and officers and holders of more than 10% of our common stock to file with the SEC, initial reports of ownership of our common stock and other equity securities on a Form 3 and reports of changes in such ownership on a Form 4 or Form 5. Directors and officers and holders of 10% of our common stock are required by SEC regulations to furnish us with copies of all Section 16(a) forms they file. The SEC has designated specific deadlines for these reports, and we must identify those persons who did not file these reports when due. To our knowledge, based solely on a review of copies of such forms furnished to us, and written representations made by our directors and officers regarding their filing obligations, we believe all Section 16(a) filing requirements were satisfied on a timely basis with respect to the year ended December 31, 2022.

NON-EMPLOYEE DIRECTOR COMPENSATION

The following table presents the total compensation for each person who served as a non-employee member of our board of directors during the fiscal year ended December 31, 2022. Dr. Quisel, one of our directors who also serves as our President and Chief Executive Officer, does not receive any additional compensation for his service as a director. Dr. Quisel is one of our named executive officers and, accordingly, the compensation that we pay to Dr. Quisel is discussed in the section of this proxy statement titled “—2022 Summary Compensation Table” and —Narrative to Summary Compensation Table.”

Other than as described in this paragraph and set forth in the table and described more fully below, we did not pay any compensation or make any equity awards or non-equity awards to, or pay any other compensation to any of the non-employee members of our board of directors in 2022 for their services as members of the board of directors.

26


2022 Director Compensation Table

Name

 

Fee Earned or
Paid in Cash
($)

 

 

Option Awards
($)
(1)(2)

 

 

Total
($)

 

Donald Nicholson, Ph.D.

 

 

150,000

 

 

 

54,186

 

 

 

204,186

 

William White, MPP, J.D.

 

 

50,000

 

 

 

54,186

 

 

 

105,186

 

Jay Backstrom, M.D., M.P.H.

 

 

40,000

 

 

 

54,186

 

 

 

94,186

 

Mona Ashiya, Ph.D.

 

 

 

 

 

54,186

 

 

 

54,186

 

Kevin Bitterman, Ph.D.

 

 

 

 

 

54,186

 

 

 

54,186

 

Mark Chin, MS, MBA

 

 

 

 

 

54,186

 

 

 

54,186

 

Liam Ratcliffe, MD, Ph.D.

 

 

 

 

 

54,186

 

 

 

54,186

 

Georges Gemayel, Ph.D.(3)

 

 

 

 

 

54,186

 

 

 

54,186

 

Eric Snyder, Ph.D.(4)

 

 

 

 

 

 

 

 

 

(1)
The amounts reported represent the aggregate grant date fair value of the stock options awarded to the non-employee directors during fiscal year 2022, calculated in accordance with FASB ASC Topic 718. The assumptions used in calculating the grant date fair value of the awards reported in this column are set forth in Note 2 to our audited consolidated financial statements presented in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The amounts reported in this column reflect the accounting cost for the stock options and does not correspond to the actual economic value that may be received upon exercise of the stock option or any sale of any of the Company’s securities orunderlying shares of common stock.
(2)
As of December 31, 2022, our non-employee members of our board of directors held the following aggregate number of unexercised options and unvested shares of restricted stock as of such date:



Name

 

Number of
Securities Underlying
 Unexercised Options

 

 

Number of
Shares of Unvested
 Restricted Stock

 

Donald Nicholson, Ph.D.

 

 

128,462

 

 

 

1,916

 

William White, MPP, J.D.

 

 

44,751

 

 

 

 

Jay Backstrom, MD, M.P.H.

 

 

21,028

 

 

 

 

Mona Ashiya, Ph.D.

 

 

7,000

 

 

 

 

Kevin Bitterman, Ph.D.

 

 

7,000

 

 

 

 

Mark Chin, MS, MBA.

 

 

7,000

 

 

 

 

Liam Ratcliffe, MD, Ph.D.

 

 

7,000

 

 

 

 

Georges Gemayel, Ph.D.

 

 

94,946

 

 

 

 

Eric Snyder, Ph.D.

 

 

 

 

 

 

(3)
Dr. Gemayel joined our board of directors on December 29, 2022.
(4)
Dr. Snyder resigned from our board of directors on December 29, 2022, and held no outstanding stock as he was not an opportunity, direct or indirect, to profit from any change in the valueindependent member of the Company’s securitiesboard of directors.

27


Non-Employee Director Compensation Policy

We have implemented a formal policy pursuant to which our non-employee directors are eligible to receive the following cash retainers:

 

Annual
Retainer
($)

 

 

Annual
Retainer for
Chair
($)

 

Board of Directors

 

 

40,000

 

 

 

150,000

 

Audit Committee

 

 

7,500

 

 

 

15,000

 

Compensation Committee

 

 

5,000

 

 

 

10,000

 

Nominating and Corporate Governance Committee

 

 

4,000

 

 

 

8,000

 

The non-employee director compensation policy also provides that, upon initial election to our board of directors, each non-employee director will be granted an option to purchase 14,272 shares of our common stock, or engagethe Initial Grant. The Initial Grant will vest in equal monthly installments over three years, with a one-year cliff from the date of grant, subject to continued service through the applicable vesting date. Furthermore, on the date of each annual meeting of stockholders, each non-employee director who continues as a non-employee director following such meeting will be granted an annual option to purchase 7,136 shares of our common stock, or the Annual Grant. The Annual Grant will vest in full on the earlier of (i) the first anniversary of the grant date or (ii) our next annual meeting of stockholders, subject to continued service through the applicable vesting date. Such awards are subject to full accelerated vesting upon the sale of the company.

Employee directors receive no additional compensation for their service as a director. We reimburse all reasonable out-of-pocket expenses incurred by directors for their attendance at meetings of our board of directors or any other hedging transaction with respect to the Company’s securities, at any time, bycommittee thereof.

EXECUTIVE OFFICERS

The following table identifies our executive officers, and sets forth their current positions and their ages as of April 14, 2023.

Name

 

Position Held with Disc Medicine, Inc.

 

Officer
Since

 

Age

John Quisel, J.D., Ph.D.

 

President, Chief Executive Officer and Director

 

2020

 

51

Joanne Bryce, CPA

 

Chief Financial Officer

 

2021

 

56

Jonathan Yu

 

Chief Business Officer

 

2021

 

42

William Savage, MD, Ph.D.

 

Chief Medical Officer

 

2021

 

49

Brian MacDonald, MB, Ch.B., Ph.D.

 

Chief Innovation Officer

 

2017

 

63

Rahul Khara, Pharm.D., J.D.

 

General Counsel

 

2021

 

41

Executive Officers

You should refer to “Class III Director Nominees” above for information about our President and Chief Executive Officer, John Quisel. Biographical information for our other executive officers, as of April 14, 2023, is set forth below.

Joanne Bryce, CPA has served as our Chief Financial Officer since September 2021. Previously, she served as a part-time consultant for us acting as our Chief Financial Officer from November 2017 to September 2021. Ms. Bryce was previously the Chief Financial Officer of Arkuda Therapeutics, a biotechnology company, having served from February 2018 to September 2021. Additionally, she previously served as a consultant to Dyne Therapeutics, a muscle disease company, acting as head of finance, from January 2018 to March 2020, and was also previously Chief Financial Officer of Quartet Medicine, a biotechnology company, from November 2016 to November 2018. Prior to Quartet, Ms. Bryce held Chief Financial Officer roles at a number of technology companies, including Speedy Packets from October 2014 to November 2016 and WiTricity from September 2008 to June 2014. Ms. Bryce was Interim Chief Executive Officer at Jingle Networks from November 2005 to November 2008 and served as an independent consultant for multiple organizations between 2001 and 2005. Ms. Bryce was also Chief Financial Officer at Narrative

28


Communications, later acquired by At Home Corporation, from January 1997 to July 2000. Ms. Bryce began her career at Arthur Andersen & Co., an accounting firm. Ms. Bryce holds a B.S. from Babson College and is a certified public accountant licensed in the Commonwealth of Massachusetts.

Jonathan Yu has served as our Chief Business Officer since August 2021, and was previously our Senior Vice President of Corporate Development from July 2020 to August 2021. Previously, he co-founded Qpex Biopharma, a biotechnology company, where he served as the Vice President of Corporate Strategy, Finance and Operations from October 2018 to July 2020. Prior to Qpex, Mr. Yu served in various leadership roles at The Medicines Company, a pharmaceutical company, from July 2013 to July 2018, most recently serving as Vice President of Strategic Planning and Corporate Development. Mr. Yu has also held a variety of roles at SR One, Acceleron Pharma and Johnson & Johnson, spanning commercial planning and assessment, business development and finance. Mr. Yu holds an AB from Harvard College and an MBA from the Wharton School of the University of Pennsylvania.

William Savage, MD, Ph.D. has served as our Chief Medical Officer since August 2021 and was previously our Vice President, Head of Clinical Development from August 2020 to August 2021. Previously, he served as Senior Medical Director at Magenta Therapeutics, a biotechnology company, from July 2019 to July 2020. Prior to Magenta Therapeutics, he was the Global Clinical Development Lead in Hematology at Shire plc and Takeda Pharmaceutical Company, following its acquisition of Shire, both pharmaceutical companies, from January 2017 to July 2019. Dr. Savage was also an Assistant Professor of Pathology at Harvard Medical School/Brigham and Women’s Hospital from July 2012 to January 2017. He started his career at Johns Hopkins University School of Medicine, where he was Associate Medical Director, Transfusion Medicine and Assistant Professor of Pediatric Hematology. Dr. Savage holds a BA from Columbia University, an MD with honors in research from Weill Cornell Medical College and a Ph.D. from the Johns Hopkins Bloomberg School of Public Health.

Brian MacDonald, MB, Ch.B., Ph.D., has served as our Chief Innovation Officer since September 2021 and served as a member of our board of directors employeesfrom February 2020 until September 2021. Dr. MacDonald was our founding and certain designated consultantsInterim Chief Executive Officer from October 2017 through February 2020, and contractors.has founded another company engaged in the discovery of hepcidin-targeting therapeutics, Merganser Biotech, Inc., where he was the Chief Executive Officer from September 2011 through July 2016. Prior to that, he spent six years as Chief Executive Officer of Zelos Therapeutics from October 2005 through September 2011. He was also previously Head of Regulatory Affairs at Tetralogic from 2004 to 2005, Vice President, Development at 3-Dimensional Pharmaceuticals, Inc. from 2002 to 2003 and Group Director, Emerging Therapeutic Areas, at GSK from 2000 to 2002. Dr. MacDonald received his MB, Ch.B. and Ph.D. from the University of Sheffield, and is a member of the Royal College of Physicians.

Stockholder Communications with Our BoardRahul Khara, Pharm.D., J.D., has served as our General Counsel since December 2021 and as our Compliance Officer and Secretary since December 2022. Dr. Khara previously served as Vice President, Legal and Chief Compliance Officer at Acceleron Pharma Inc. from August 2018 until December 2021. Prior to joining Acceleron he was a Senior Associate at the law firm Arnold & Porter LLP from March 2015 until August 2018. Prior to that, Dr. Khara was a Senior Associate at the law firm Sidley Austin LLP from September 2008 until March 2015. Dr. Khara received his J.D. from the University of Michigan Law School. He earned a Pharm.D. from Rutgers University.

The Board has adoptedprincipal occupation and employment during the past five years of each of our executive officers was carried on, in each case except as specifically identified above, with a formal process by which stockholders may communicate with the Boardcorporation or organization that is not a parent, subsidiary or other affiliate of us. There is no arrangement or understanding between any individual director by sending correspondence to c/o Gemini Therapeutics, Inc., 300 One Kendall Square, 3rd Floor, Cambridge, MA 02139, Attn: Brian Piekos.

Each communication must set forth:

the nameof our executive officers and address of the stockholder on whose behalf the communication is sent;

the number of shares of Common Stock that are owned beneficially by such stockholder as of the date of the communication; and

the reason for the communication, any request being made and rationale supporting such request.

Each communication will be reviewed to determine whether it is appropriate for presentation to the Boardother person or such individual directorpersons pursuant to which the communicationhe or she was or is addressed. Examples of inappropriate communications include advertisements, solicitations, hostile communications or communications that do not relate to appropriate company business.

Communications determined to be appropriate for presentationselected as an executive officer.

There are no material legal proceedings to which any of our executive officers is a party adverse to us or in which any such person has a material interest adverse to us.

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EXECUTIVE COMPENSATION

Our executive compensation programs are designed to attract, motivate, incentivize and retain our executive officers, who contribute to our long-term success. Pay that is competitive, rewards performance and effectively aligns the Board or such individual director will be submitted priorinterests of our executive officers with those of our long-term stockholders is key to the next meeting of the Board.

EXECUTIVE OFFICER AND DIRECTOR COMPENSATION

Executive Compensation Overview

Historically,our compensation program design and decisions. We structure our executive compensation program has reflectedprograms to be heavily weighted towards long-term equity incentives that correlate with the growth of sustainable long-term value for our growthstockholders.

The compensation provided to our named executive officers for the fiscal years ended December 31, 2022 and development-oriented corporate culture. To date,2021, as applicable, is detailed in the compensation2022 Summary Compensation Table and accompanying footnotes and narrative that follow. Our named executive officers for the fiscal year ended December 31, 2022, which consisted of our Chief Executive Officer and President and our otherthree most highly compensated executive officers identified inother than the 2020 Summary Compensation Table below, who we refer to as the named executive officers, has consisted of a combination of base salary, bonuses and long-term incentive compensation in the form of restricted stock awards and stock options. Our named executive officers who are full-time employees, like all other full-time employees, are eligible to participate in our retirement and health and welfare benefit plans. Going forward and in light of becoming a publicly traded company as a result of the Business Combination, we intend to continue to evaluate our compensation values and philosophy and compensation plans and arrangements as circumstances merit. At a minimum, we expect to review executive compensation annually with input from a compensation consultant. As part of this review process, we expect the Board and the Compensation Committee to apply our values and philosophy, while considering the compensation levels needed to ensure our executive compensation program remains competitive with our peers. In connection with our executive compensation program, we will also review whether we are meeting our retention objectives and the potential cost of replacing a key employee.Chief Executive Officer, were:

2020 Summary Compensation Table

The Company’s named executive officers for the year ended December 31, 2020 are Jason Meyenburg, our

1.
John Quisel, J.D., Ph.D., President and Chief Executive Officer Dr. Scott Lauder, our Chief Technology Officer, and Dr. Marc Uknis, our former
2.
William Savage, MD, Ph.D., Chief Medical Officer. Officer
3.
Joanne Bryce, CPA, Chief Financial Officer
4.
Jonathan Yu, Chief Business Officer

2022 Summary Compensation Table

The following table presentsprovides information regarding the total compensation awarded to, earned by, and paid to our named executive officers for services rendered to us in all capacities for 2020.the fiscal years ended December 31, 2022 and 2021, as applicable.

 

Name and Principal Position

  Year   Salary
($)
   Bonus
($)(1)
   Option
Awards

($)(2)
   Non-Equity Incentive
Plan Compensation

($)
   All Other
Compensation ($)
  Total
($)
 

Jason Meyenburg Chief Executive Officer and President

   2020    437,800    42,500    1,541,002    —      49,992(3)   2,071,294 

Dr. Marc Uknis Chief Medical Officer (5)

   2020    328,542    —      1,225,039    —      3,144(4)   1,556,725 

Dr. Scott Lauder Chief Technology Officer

   2020    355,000    117,800    136,517    —      7,500(4)   616,817 

Name and Principal Position

Year

Salary
($)
(1)

 

 

Bonus
($)

 

 

Option
Awards
($)
(2)

 

Non-Equity
Incentive Plan
Compensation
($)
(3)

 

All Other
Compensation
($)

 

Total
($)

 

John Quisel, J.D., Ph.D.

2022

 

476,477

 

 

 

 

 

 

1,081,150

 

 

273,638

 

 

 

 

1,831,265

 

President and Chief Executive Officer

2021

 

455,400

 

 

 

 

 

 

891,605

 

 

250,470

 

 

 

 

1,597,475

 

William Savage, MD, Ph.D.

2022

 

378,234

 

 

20,000

 

(5)

 

 

318,803

 

 

173,719

 

 

 

 

890,756

 

Chief Medical Officer

2021

 

320,000

 

 

 

 

 

 

294,999

 

 

105,600

 

 

 

 

720,599

 

 Joanne Bryce, CPA(3)

2022

 

355,884

 

 

20,000

 

​(5)

 

 

277,221

 

 

163,438

 

 

 

 

816,543

 

Chief Financial Officer

2021

303,818

 

​(6)

 

24,000

 

​(7)

 

 

419,601

 

 

88,825

 

 

 

 

836,244

 

 Jonathan Yu
Chief Business Officer

 

2022

 

 

355,884

 

 

 

20,000

 

(5)

 

 

277,221

 

 

 

163,438

 

 

 

 

 

 

816,543

 

 

(1)

The amounts reported in this column represent annual cash bonus payments made to our named executive officers in March 2020 for performance in 2019.

(2)

The amounts reported in the “Option Awards” column reflect the aggregate grant date fair value of stock options awarded during 2020 computed in accordance with the provisions of Financial Accounting Standards Board Accounting Standards Codification Topic 718. See Note 10 to our financial statements included in Item 9.01 of our Current Report on Form 8-K dated February 5, 2021 regarding assumptions underlying the valuation of equity awards.

(3)

Consists of payment for a living expense allowance of $4,166 per month to facilitate Mr. Meyenburg’s relocation to Cambridge, Massachusetts pursuant to the terms of his offer letter agreement with the Company.

(4)

Represents the Company’s portion of the executive’s 401(k) plan contribution.

(5)

Dr, Uknis’ employment with the Company commenced in March 2020 and, effective as of April 11, 2021, Dr. Uknis departed as the Chief Medical Officer and Samuel Barone, M.D. was appointed to serve as his successor.

(1)
The amounts reported reflect salaries earned by each named executive officer during the respective fiscal year.
(2)
The amounts reported represent the aggregate grant date fair value of the stock options awarded to our named executive officers during the 2022 and 2021 fiscal years, as applicable, calculated in accordance with Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, Topic 718. Such grant date fair values do not take into account any estimated forfeitures. The assumptions used in calculating the grant date fair value of the stock options reported in this column are set forth in Note 2 to our audited consolidated financial statements presented in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The amounts reported in this column reflect the accounting cost for the stock options and do not correspond to the actual economic value that may be received by our named executive officers upon the exercise of the stock options or any sale of the common stock underlying such stock options.
(3)
The amounts represent bonuses earned as of December 31, 2021 and December 31, 2022, upon the attainment of one or more pre-established performance goals established by our board of directors on an annual basis. A portion of Ms. Bryce’s 2021 bonus was attributable to her service as a consultant.

30


(4)
Ms. Bryce was a consultant of ours until September 14, 2021 when she transitioned to Chief Financial Officer.
(5)
The amounts reported reflect the amount of discretionary bonuses earned in year 2022.
(6)
Includes $210,818 in consulting fees that Ms. Bryce earned during 2021, prior to becoming Chief Financial Officer.
(7)
Ms. Bryce received a signing bonus for her employment in the position of Chief Financial Officer.

Narrative to the Summary Compensation Table

Base salariesSalaries

Each named executive officer’s base salary is a fixed component of annual compensation for performing specific duties and functions, and has been established by our Compensation Committeeboard of directors taking into account each individual’s role, responsibilities, skills, and experience.expertise. Base salaries are reviewed annually, typically in connection with our annual performance review process, approved by our board of directors, and adjusted from time to time to realign salaries with market levels after taking into account individual responsibilities, performance and experience. The annual base salaries for Dr. Quisel, Ms. Bryce and Mr. Yu were increased to $562,000, $419,000 and $419,000, respectively effective December 29, 2022 due to updated employment agreements entered into with the Company. Dr. Savage’s base salary was increased from $355,300 to $400,000 effective July 1, 2022 in connection with his mid-year performance review, and then increased again to $458,000 effective December 29, 2022 due to an updated employment agreement entered into with the Company.

Annual Bonuses

For the fiscal year ended December 31, 2020, the2022, each named executive officer was eligible to earn an annual base salary for each of Mr. Meyenburg, Dr. Uknis and Dr. Lauder was $437,800, $415,000 and $355,000, respectively.

Bonuses

We pay cash bonuses to reward our executives for their performance over the fiscal year, based on goals established by our Board or Compensation Committee. Annual performance bonus awards are determined based on the achievement of certain predeterminedcorporate performance metrics. Corporate objectives were primarily based on development goals for our product candidates financing and business development goals. The target annual corporate and individual performance milestones. For the year ended December 31, 2020, the target bonus for Drs. Quisel and Savage, Ms. Bryce and Mr. MeyenburgYu for 2022 was equal to50%, 40% percent, 40% and 40% of histheir respective annual base salary (100% basedas in effect on achievement of annual corporate milestones) andDecember 28, 2022 (i.e., prior to the target bonus for each of Dr. Uknis and Dr. Lauder was equal to 35% ofincrease provided in the executive’s base salary (in each case, 80% based on achievement of annual corporate milestones and 20% based on achievement of individual performance milestones)updated employment agreements). For fiscal year 2020, 90% of the Company’s corporate milestones related to research and development targets and 10% related to financing and organizational targets. Following review and determination of corporate and individual performance for 2020, the Board determined, upon recommendation from the Compensation Committee, that Mr. Meyenburg’s annual bonus was earned at 115% of his target bonus, Dr. Lauder’s annual bonus was earned at 114% of his target bonus, and Dr. Uknis’s annual bonus was earned at 92% of his target bonus.

Equity compensationCompensation

We believe that equity grants provide our executives with a strong link to our long-term performance, create an ownership culture and help to align the interests of our executives and our stockholders. In addition, we believe that equity grants with a time-based vesting feature promote executive retention because this feature incentivizes ourthey incentivize executive officers to remain in our employmentemployed during the vesting period. During the fiscal year ended December 31, 2020,2022, we granted optionsstock option awards to purchase shareseach of our Common Stock to Mr. Meyenburg, Dr. Uknis and Dr. Lauder,named executive officers, as described in more detail in the “Outstanding Equity Awards at 2020 Fiscal 2022 Year-End” table. table below.

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Outstanding Equity Awards at 2020 Fiscal 2022 Year-End

The following table sets forth information concerningregarding outstanding equity awards held by each of our named executive officers as of December 31, 2020. Unless otherwise noted, all equity awards set forth2022:

 

 

 

Option Awards(1)

Name

Grant Date

 

Vesting
Commencement
Date

Number of
Securities
Underlying
Unexercised
Options
(#)
Exercisable

 

Number of
Securities
Underlying
Unexercised
Options
(#)
Unexercisable

 

Option
Exercise
Price
($)

 

Option
Expiration
Date

 John Quisel, J.D., Ph.D.

12/29/2022

(2)

 

12/29/2022

 

 

 

132,002

 

 

13.50

 

12/28/2032

 President and Chief Executive Officer

9/14/2021

(2)

 

9/1/2021

 

52,623

 

 

115,764

 

 

9.86

 

9/13/2031

10/23/2020

​(3)

 

10/7/2020

 

33,400

 

 

28,250

 

 

2.65

 

10/22/2030

3/11/2020

​(4)

 

2/25/2020

 

172,775

 

 

71,136

 

 

1.01

 

3/10/2030

 William Savage, MD, Ph.D.

12/29/2022

(2)

 

12/29/2022

 

 

 

38,924

 

 

13.50

 

12/28/2032

 Chief Medical Officer

9/14/2021

(2)

 

7/1/2021

 

3,732

 

 

6,789

 

 

9.86

 

9/13/2031

9/14/2021

(2)

 

9/1/2021

 

14,125

 

 

31,067

 

 

9.86

 

9/13/2031

10/23/2020

(5)

 

10/7/2020

 

5,567

 

 

4,708

 

 

2.65

 

10/22/2030

 

8/11/2020

​(4)

 

8/3/2020

 

3,388

 

 

16,938

 

 

2.65

 

8/10/2030

 Joanne Bryce, CPA

12/29/2022

​(2)

 

12/29/2022

 

 

 

33,847

 

 

13.50

 

12/28/2032

 Chief Financial Officer

9/14/2021

​(2)

 

9/1/2021

 

24,765

 

 

54,480

 

 

9.86

 

9/13/2031

10/23/2020

​(2)

 

10/7/2020

 

2,575

 

 

2,178

 

 

2.65

 

10/22/2030

10/23/2020

​(2)

 

1/1/2020

 

3,466

 

 

1,287

 

 

2.65

 

10/22/2030

11/6/2019

​(6)

 

5/1/2020

 

3,770

 

 

2,258

 

 

1.01

 

11/5/2029

11/6/2019

​(6)

 

9/13/2019

 

6,831

 

 

1,575

 

 

1.01

 

11/5/2029

 Jonathan Yu

 

12/29/2022

​(2)

 

12/29/2022

 

 

 

 

 

33,847

 

 

 

13.50

 

 

12/28/2032

 Chief Business Officer

 

9/14/2021

​(2)

 

7/1/2021

 

 

2,488

 

 

 

4,526

 

 

 

9.86

 

 

9/13/2031

 

9/14/2021

​(2)

 

9/1/2021

 

 

14,161

 

 

 

31,141

 

 

 

9.86

 

 

9/13/2031

 

10/23/2020

(5)

 

10/7/2020

 

 

8,537

 

 

 

7,843

 

 

 

2.65

 

 

10/22/2030

 

8/11/2020

​(4)

 

7/1/2021

 

 

22,923

 

 

 

15,018

 

 

 

2.65

 

 

8/10/2030

(1)
All stock options granted in years 2020 and 2021 have been granted pursuant to the table below were granted underterms of our 2017 Stock Option and Grant Plan, as amended, (the “2017 Plan”).or our 2017 Plan. All stock options granted in year 2022 have been granted pursuant to the terms of our Amended and Restated 2021 Stock Option and Incentive Plan, or our 2021 Plan. Pursuant to provisions in the Company’s stock plans, the exercise price and number of shares subject to certain of these stock options were adjusted in connection with (i) the 1-for-10 reverse stock split that occurred on December 29, 2022 and (ii) the merger, pursuant to which all of our shares of common stock were converted into shares of Gemini’s common stock based on an exchange ratio of 0.1096. Accordingly, the exercise prices shown in the table above (and in the corresponding footnotes) reflect our named executive officers’ post-reverse stock split holdings and post-conversion holdings.
(2)
This stock option vests in 48 equal monthly installments following the Vesting Commencement Date, subject to the named executive officer’s continuous service.
(3)
5,138 shares vested on February 25, 2021. The remaining 56,512 shares vest in 44 equal monthly installments following the Vesting Commencement Date, subject to the named executive officer’s continuous service.
(4)
25% of the shares vested on the one-year anniversary of the Vesting Commencement Date. The remaining shares vest in 36 equal monthly installments following the Vesting Commencement Date, subject to the named executive officer’s continuous service.
(5)
2,140 shares vested on August 3, 2021. The remaining 8,135 shares vest in 38 equal monthly installments following the Vesting Commencement Date, subject to the named executive officer’s continuous service.
(6)
This stock option vests in 16 equal quarterly installments commencing on the three-month anniversary of the Vesting Commencement Date, subject to the named executive officer’s continuous service.

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Employment Arrangements for Named Executive Officers

   Option awards   Stock awards 
                      Number of    
      Number of               shares    
      securities   Number of           or units of  Market value of 
      underlying   securities   Option       stock that  shares or units of 
   Vesting  unexercised   underlying   exercise   Option   have not  stock that have 
   commencement  options (#)   unexercised options   price   expiration   vested  not vested 

Name

  date  exercisable   (#) unexercisable   ($)   date   (#)  ($)(1) 

Jason Meyenburg

   9/23/2019(2)   840,698    1,849,541    0.47    11/12/2029    —     —   
   3/11/2020(2)   —      595,700    0.55    3/11/2030    —     —   
   10/16/2020(2)   —      1,178,043    1.66    10/16/2030    —     —   

Dr. Marc Uknis

   3/16/2020(2)   —      1,093,980    1.66    10/16/2030    —     —   

Dr. Scott Lauder

   11/5/2017(3)   235,206    78,400    0.28    8/28/2028    —     —   
   3/11/2020(2)   —      75,000    0.55    3/11/2030    
   10/16/2020(2)   —      96,971    1.66    10/16/2030    
   —     —      —      —      —      46,250 (4)   76,775 

(1)

Based on the fair market value of our Common Stock as of December 31, 2020 of $1.66 as determined by the Board, after consideration of relevant factors, including third-party valuation report.

Dr. John Quisel

(2)

The shares underlying this stock option vest over four years with 25% of the shares vesting on the first anniversary of the vesting commencement date, and the remaining shares vesting in 36 equal monthly installments thereafter, subject to the executive’s continued service. In the event that the executive’s employment is terminated without Cause or he resigns for Good Reason (as each such term is defined in the 2017 Plan) within 12 months following a Sale Event (as such term is defined in the 2017 Plan), the vesting of this stock option will fully accelerate.

(3)

The shares underlying this stock option vest in 16 equal quarterly installments over the four years following vesting commencement date, subject to Dr. Lauder’s continued service. This stock option will vest in full upon a Sale Event (as such term is defined in the 2017 Plan).

(4)

Represents a restricted stock award granted on October 26, 2016 for a total of 480,000 shares under our 2015 Employee, Director and Consultant Stock Option Plan. The remaining unvested shares vested in two quarterly installments of 23,125 shares through May 16, 2021.

Employee Benefit PlansOn August 9, 2022, we entered into an employment agreement with Dr. Quisel effective as of December 29, 2022, or the Quisel Employment Agreement, who currently serves as our President and Chief Executive Officer, that supersedes his previous employment agreement. The Quisel Employment Agreement provides for Dr. Quisel’s at-will employment, an annual salary of $562,000, subject to our periodic review and increase, but not decrease (except for an across-the-board reduction of no greater than 10% of based on the Company’s financial performance similarly affecting all or substantially all senior management employees of the Company), an annual bonus with a target amount equal to 50% of his base salary and eligibility to participate in the employee benefit plans generally available to our employees. The Quisel Employment Agreement also provides that upon a termination without cause (and not due to death or disability) or if Dr. Quisel resigns for good reason, in each case, outside of the period that is within 3 months prior to, or within 12 months after, the occurrence of the first event constituting a change in control, then Dr. Quisel is entitled to receive cash severance equal to continued base salary payments for 12 months, a lump sum payment equal to 100% of the executive’s target bonus pro-rated for the year of termination, any earned, but unpaid bonus for the fiscal year prior to the fiscal year of termination; acceleration of 25% of Dr. Quisel’s unvested and outstanding time-based vesting equity awards and payment of COBRA premiums (subject to Dr. Quisel’s continued copayment of such premiums at the active employees’ rate) for up to 12 months following the termination date. If within 3 months prior to or 12 months following a change of control, Dr. Quisel is terminated by the Company or a successor involuntarily without cause (and not due to death or disability) or Dr. Quisel resigns for good reason, Dr. Quisel shall be entitled to a lump sum cash payment equal to 18 months of his then current base salary, plus 100% of his target bonus for the year of termination, plus any earned, but unpaid bonus for the fiscal year prior to the fiscal year of termination. In addition, upon such a termination, all of Dr. Quisel’s outstanding equity awards subject to time-based vesting shall be immediately and fully accelerated and he shall be entitled to the payment of COBRA premiums for up to 18 months (subject to Dr. Quisel’s continued copayment of such premiums at the active employees’ rate). All severance payments and benefits are conditioned upon Dr. Quisel’s execution of a release of claims in our favor. If as a result of a termination of his employment Dr. Quisel becomes subject to the excise tax imposed by Section 4999 of the Internal Revenue Code, Dr. Quisel is subject to a modified cutback of the payments and benefits he would otherwise receive in connection with a change in control, such that he would retain the higher of the net amount he would receive if such payments were reduced to avoid payment of the excise tax and the net amount he would receive if he received such payments in full and paid the excise tax. Dr. Quisel is also subject to our confidentiality, assignment, non-solicitation, and noncompetition policies.

Dr. William Savage

On August 9, 2022, we entered into an employment agreement with Dr. Savage effective as of December 29, 2022, or the Savage Employment Agreement, who currently serves as our Chief Medical Officer, that supersedes his previous offer letter. The Savage Employment Agreement provides for Dr. Savage’s at-will employment, an annual salary of $458,000, subject to our periodic review and increase, but not decrease (except for an across-the-board reduction of no greater than 10% of based on the Company’s financial performance similarly affecting all or substantially all senior management employees of the Company), an annual bonus with a target amount equal to 40% of his base salary and his eligibility to participate in the employee benefit plans generally available to our employees. The Savage Employment Agreement also provides that upon a termination without cause (and not due to death or disability) or if Dr. Savage resigns for good reason, in each case, outside of the period that is within 3 months prior to, or within 12 months after, the occurrence of the first event constituting a change in control, then Dr. Savage is entitled to receive cash severance equal to continued base salary payments for 9 months, any earned, but unpaid bonus for the fiscal year prior to the fiscal year of termination, and payment of COBRA premiums (subject to Dr. Savage’s continued copayment of such premiums at the active employees’ rate) for up to 9 months. If within 3 months prior to or 12 months following a change of control, Dr. Savage is terminated by the Company or a successor involuntarily without cause (and not due to death or disability) or Dr. Savage resigns for good reason, Dr. Savage shall be entitled to a lump sum cash payment equal to 12 months of this then current base salary, plus 100% of his target bonus for the year of termination, plus any earned, but unpaid bonus for the fiscal year prior to the fiscal year of termination. In addition, upon such a termination, all of Dr. Savage’s outstanding equity awards subject to time-based vesting shall be immediately and fully accelerated and he shall be entitled to the payment of COBRA premiums for up to 12 months (subject to Dr. Savage’s continued copayment of such premiums at the active employees’ rate). All severance

33


payments and benefits are conditioned upon Dr. Savage’s execution of a release of claims in our favor. If as a result of a termination of his employment Dr. Savage becomes subject to the excise tax imposed by Section 4999 of the Internal Revenue Code, Dr. Savage is subject to a modified cutback of the payments and benefits he would otherwise receive in connection with a change in control, such that he would retain the higher of the net amount he would receive if such payments were reduced to avoid payment of the excise tax and the net amount he would receive if he received such payments in full and paid the excise tax. Dr. Savage is also subject to our confidentiality, assignment, non-solicitation, and noncompetition policies.

Ms. Joanne Bryce

On August 9, 2022, we entered into an employment agreement with Ms. Bryce effective as of December 29, 2022, or the Bryce Employment Agreement, who currently serves as our Chief Financial Officer, that supersedes her previous offer letter. The Bryce Employment Agreement provides for Ms. Bryce’s at-will employment, an annual salary of $419,000, subject to our periodic review and increase, but not decrease (except for an across-the-board reduction of no greater than 10% of based on the Company’s financial performance similarly affecting all or substantially all senior management employees of the Company), an annual bonus with a target amount equal to 40% of her base salary and her eligibility to participate in the employee benefit plans generally available to our employees. The Bryce Employment Agreement also provides that upon a termination without cause (and not due to death or disability) or if Ms. Bryce resigns for good reason, in each case, outside of the period that is within 3 months prior to, or within 12 months after, the occurrence of the first event constituting a change in control, then Ms. Bryce is entitled to receive cash severance equal to continued base salary payments for 9 months, any earned, but unpaid bonus for the fiscal year prior to the fiscal year of termination, and payment of COBRA premiums (subject to Ms. Bryce’s continued copayment of such premiums at the active employees’ rate) for up to 9 months. If within 3 months prior to 12 months following a change of control, Ms. Bryce is terminated by the Company or successor involuntarily without cause (and not due to death or disability) or Ms. Bryce resigns for good reason, Ms. Bryce shall be entitled to cash severance equal to a lump sum cash payment equal to 12 months of her then current base salary, plus 100% of her target bonus for the year of termination, plus any earned, but unpaid bonus for the fiscal year prior to the fiscal year of termination. In addition, upon such a termination, all of Ms. Bryce’s outstanding equity awards subject to time-based vesting shall be immediately and fully accelerated and she shall be entitled to the payment of COBRA premiums (subject to Ms. Bryce’s continued copayment of such premiums at the active employees’ rate) for up to 12 months. All severance payments and benefits are conditioned upon Ms. Bryce’s execution of a release of claims in our favor. If as a result of a termination of his employment Ms. Bryce becomes subject to the excise tax imposed by Section 4999 of the Internal Revenue Code, Ms. Bryce is subject to a modified cutback of the payments and benefits she would otherwise receive in connection with a change in control, such that she would retain the higher of the net amount she would receive if such payments were reduced to avoid payment of the excise tax and the net amount she would receive if she received such payments in full and paid the excise tax. Ms. Bryce is also subject to our confidentiality, assignment, non-solicitation, and noncompetition policies.

Mr. Jonathan Yu

On August 9, 2022, we entered into an employment agreement with Mr. Yu effective December 29, 2022, or the Yu Employment Agreement, who currently serves as our Chief Business Officer, that supersedes his previous offer letter. The Yu Employment Agreement provides for Mr. Yu’s at-will employment, an annual salary of $419,000, subject to our periodic review and increase, but not decrease (except for an across-the-board reduction of no greater than 10% of based on the Company’s financial performance similarly affecting all or substantially all senior management employees of the Company), an annual bonus with a target amount equal to 40% of his base salary and his eligibility to participate in the employee benefit plans generally available to our employees. The Yu Employment Agreement also provides that upon a termination without cause (and not due to death or disability) or if Mr. Yu resigns for good reason, in each case, outside of the period that is within 3 months prior to, or within 12 months after, the occurrence of the first event constituting a change in control, then Mr. Yu is entitled to receive cash severance equal to continued base salary payments for 9 months, any earned, but unpaid bonus for the fiscal year prior to the fiscal year of termination, and payment of COBRA premiums (subject to Mr. Yu’s continued copayment of such premiums at the active employees’ rate) for up to 9 months. If within 3 months prior to or 12 months following a change of control, Mr. Yu is terminated by the Company or successor involuntarily without cause (and not due to death or disability) or Mr. Yu resigns for good reason, Mr. Yu shall be entitled to a lump sum cash payment equal to 12 months of his then current base salary, plus 100% of his target bonus for the year of termination, plus any earned, but unpaid bonus for

34


the fiscal year prior to the fiscal year of termination. In addition, upon such a termination, all of Mr. Yu’s outstanding equity awards subject to time-based vesting shall be immediately and fully accelerated and he shall be entitled to the payment of COBRA premiums (subject to Mr. Yu’s continued copayment of such premiums at the active employees’ rate) for up to 12 months. All severance payments and benefits are conditioned upon Mr. Yu’s execution of a release of claims in our favor. If as a result of a termination of his employment Mr. Yu becomes subject to the excise tax imposed by Section 4999 of the Internal Revenue Code, Mr. Yu is subject to a modified cutback of the payments and benefits he would otherwise receive in connection with a change in control, such that he would retain the higher of the net amount he would receive if such payments were reduced to avoid payment of the excise tax and the net amount he would receive if he received such payments in full and paid the excise tax. Mr. Yu is also subject to our confidentiality, assignment, non-solicitation, and noncompetition policies.

Health and Welfare Benefits

Our named executive officers, like all full-time employees, are eligible to participate in our health and welfare benefit plans.

Perquisites and Personal Benefits

We generally do not provide perquisites to our executives.

401(k) Plan

We maintain a tax-qualified retirement plan that provides eligible U.S. employees including our named executive officers, with an opportunity to save for retirement on a tax advantaged basis.

Employment Arrangements and Severance Agreements with our Named Executive Officers

In connection withtax-advantaged basis, or the Business Combination, we entered into new employment agreements with each of our401(k) Plan. Participants in the 401(k) Plan are able to defer eligible compensation subject to applicable annual Internal Revenue Code limits. We did not provide a matching contribution to the named executive officers or to any employees in 2022.The 401(k) Plan is intended to be qualified under Section 401(a) of the material termsInternal Revenue Code with the 401(k) Plan’s related trust intended to be tax exempt under Section 501(a) of which summarized below.

Jason Meyenburg

We entered into an employment agreement with Mr. Meyenburg on January 21, 2021, which became effective as of February 5, 2021 (the “Meyenburg Employment Agreement”) and replaced Mr. Meyenburg’s earlier employment agreement. Pursuantthe Internal Revenue Code. As a tax-qualified retirement plan, pre-tax contributions to the Meyenburg Employment Agreement, we employ Mr. Meyenburg as our President401(k) Plan and Chief Executive Officer. The Meyenburg Employment Agreement also provides for Mr. Meyenburg to serve as a member of our Board for as long as he is employed as our Chief Executive Officer. The employment of Mr. Meyenburg is “at will” and the Meyenburg Employment Agreement endures until terminated by either party.

Mr. Meyenburg’s current annual base salary is $515,000, which is subject to periodic review and adjustment. Pursuantearnings on those contributions are not taxable to the Meyenburg Employment Agreement, Mr. Meyenburg is eligible to receive an annual incentive bonus targeted 50% of his annual base salary. The actual amount ofemployees until distributed from the bonus is determined by401(k) Plan, and earnings on Roth contributions are not taxable when distributed from the Board or the401(k) Plan.

Equity Compensation Committee based on its assessment of the performance of Mr. Meyenburg and that of the Company against pre-established goals determined by our Board or Compensation Committee. Mr. Meyenburg is entitled to a living expense allowance of $4,166 per month and is also eligible to participate in the employee benefit plans available to our employees, subject to the terms of those plans.

In addition, in the event Mr. Meyenburg’s employment is terminated without Cause or he resigns for Good Reason (as each such term is defined in the Meyenburg Employment Agreement), subject to his execution and non- revocation of a separation agreement, including a general release of claims in our favor (and, in the Company’s sole discretion, a one-year post-employment noncompetition agreement) (a “Separation Agreement and Release”), Mr. Meyenburg is entitled to the following severance payments and benefits: (a) continuation of his then-current Base Salary (as such term is defined in the Meyenburg Employment Agreement) for 12 months; (b) a pro rata portion of his Target Bonus (as such term is defined in the Meyenburg Employment Agreement); and (c) if Mr. Meyenburg elects to continue his health benefits through COBRA, monthly COBRA premiums paid by us until the earliest of: (i) the 12-month anniversary of the date of termination, (ii) the date Mr. Meyenburg becomes eligible for health insurance through another employer, or (iii) the cessation of Mr. Meyenburg’s continuation rights under COBRA.

In lieu of the payments and benefits described above, in the event Mr. Meyenburg’s employment is terminated without Cause or he resigns for Good Reason, in either event within the 12-month period immediately following a Change in Control (as such term is defined in the Meyenburg Employment Agreement), subject to his execution and non-revocation of a Separation Agreement and Release, Mr. Meyenburg is entitled to (a) a lump sum in cash equal to one and half times the sum of (i) Mr. Meyenburg’s then current Base Salary (or his Base Salary in effect immediately prior to the Change in Control, if higher) plus (ii) Mr. Meyenburg’s Target Bonus for the then-current year; (b) full accelerated vesting of any then-outstanding equity awards as of the later of (i) the date of termination or (ii) the effective date of the Separation Agreement and Release; and (c) if Mr. Meyenburg elects to continue his health benefits through COBRA, monthly COBRA premiums paid by us until the earliest of: (i) the 18-month anniversary of the date of termination, (ii) the date Mr. Meyenburg becomes eligible for health insurance through another employer, or (iii) the cessation of Mr. Meyenburg’s continuation rights under COBRA.

In the event that Mr. Meyenburg is entitled to any payments pursuant to his Employee Confidentiality, Assignment and Noncompetition Agreement with us, cash severance amounts payable to him pursuant to the Meyenburg Employment Agreement will be reduced by the amount that Mr. Meyenburg is paid in the same calendar year pursuant to the Employee Confidentiality, Assignment and Noncompetition Agreement. Severance payments under the Meyenburg Employment Agreement shall cease in the event that Mr. Meyenburg breaches his obligations under the Employee Confidentiality, Assignment and Noncompetition Agreement.

Mr. Meyenburg has also agreed to refrain from disclosing our confidential information during or at any time following his employment with us and from competing with us or soliciting our employees or customers during his employment and for 12 months following termination of his employment.

Mark Uknis

We entered into an employment agreement with Dr. Uknis dated December 24, 2020, which became effective as of February 5, 2021 (the “Uknis Employment Agreement”), and replaced Dr. Uknis’ earlier employment agreement. Pursuant to the Uknis Employment Agreement, Dr. Uknis served as our Chief Medical Officer. Effective as of April 11, 2021, Dr. Uknis departed as the Chief Medical Officer of the Company and received severance benefits consistent with those described below and further detailed in the Uknis Employment Agreement.

Dr. Uknis’s annual base salary prior to his termination was $415,000, which was subject to periodic review and adjustment. Under the terms of the Uknis Employment Agreement, Dr. Uknis was eligible to receive an annual incentive bonus targeted at 40% of his annual base salary. Dr. Uknis was also eligible to participate in the employee benefit plans available to our employees, subject to the terms of those plans.

In the event Dr. Uknis’s employment was terminated without Cause or he resigned for Good Reason (as each such term is defined in the Uknis Employment Agreement), subject to his execution and non-revocation of a Separation Agreement and Release, Dr. Uknis was entitled to the following: (a) continuation of Base Salary (as such term is defined in the Uknis Employment Agreement) for nine months, (b) a pro rata portion of his Target Bonus (as such term is defined in the Uknis Employment Agreement); and (c) if Dr. Uknis elected to continue his health benefits through COBRA, monthly COBRA premiums paid by us until the earlier of: (i) the nine-month anniversary of the date of termination, (ii) the date Dr. Uknis becomes eligible for health insurance through another employer, or (iii) the cessation of Dr. Uknis’s continuation rights under COBRA.

In lieu of the payments and benefits described above, in the event Dr. Uknis’s employment was terminated without Cause or he resigned for Good Reason, in either event within the 12 month period immediately following a Change in Control (as such term is defined in the Uknis Employment Agreement), subject to his execution and non- revocation of a Separation Agreement and Release, Dr. Uknis was entitled to (a) a lump sum in cash equal to one times the sum of (i) Dr. Uknis’s then current Base Salary plus (ii) Dr. Uknis’s Target Bonus for the then-current year; (b) full accelerated vesting of any then-outstanding equity awards as of the later of (i) the date of termination or (ii) the effective date of the Separation Agreement and Release; and (c) if Dr. Uknis elected to continue his health benefits through COBRA, monthly COBRA premiums paid by us until the earliest of: (i) the 12-month anniversary of the date of termination, (ii) the date Dr. Uknis becomes eligible for health insurance through another employer, or (iii) the cessation of Dr. Uknis’s continuation rights under COBRA.

In the event that Dr. Uknis is entitled to any payments pursuant to his Employee Confidentiality, Assignment and Noncompetition Agreement with us, cash severance amounts payable to him pursuant to the Uknis Employment Agreement will be reduced by the amount that Dr. Uknis is paid in the same calendar year pursuant to the Employee Confidentiality, Assignment and Noncompetition Agreement. Severance payments under the Uknis Employment Agreement shall cease in the event that Dr. Uknis breaches his obligations under the Employee Confidentiality, Assignment and Noncompetition Agreement.

Dr. Uknis agreed to refrain from disclosing our confidential information during or at any time following his employment with us and from competing with us or soliciting our employees or customers during his employment and for twelve months following termination of his employment.

Scott Lauder, Ph.D.

We entered into an employment agreement with Dr. Lauder dated January 22, 2021, which became effective as of February 5, 2021 (the “Lauder Employment Agreement”), and replaces Dr. Lauder’s prior employment agreement. Pursuant to the Lauder Employment Agreement, Dr. Lauder serves as our Chief Technology Officer. The employment of Dr. Lauder is “at will” and the Lauder Employment Agreement endures until terminated by either party.

Dr. Lauder’s current annual base salary is $411,650, which is subject to periodic review and adjustment. Under the terms of the Lauder Employment Agreement, Dr. Lauder is eligible to receive an annual bonus targeted at 40% of his annual base salary. Dr Lauder is also eligible to participate in the employee benefit plans available to our employees, subject to the terms of those plans.

In the event Dr. Lauder’s employment is terminated without Cause or he resigns for Good Reason (as each such term is defined in Lauder Employment Agreement), subject to his execution and non-revocation of a Separation Agreement and Release, Dr. Lauder is entitled to the following: (a) continuation of his then-current Base Salary (as defined in the Lauder Employment Agreement) for nine months, (b) a pro rata portion of his Target Bonus (as such term is defined in the Lauder Employment Agreement); and (c) if Dr. Lauder elects to continue his health benefits through COBRA, monthly COBRA premiums paid by us until the earlier of: (i) the 12-month anniversary of the date of termination, (ii) the date Dr. Lauder becomes eligible for health insurance through another employer, or (iii) the cessation of Dr. Lauder’s continuation rights under COBRA.

In lieu of the payments and benefits described above, in the event Dr. Lauder’s employment is terminated without Cause or he resigns for Good Reason, in either event within the 12-month period immediately following a Change in Control (as such term is defined in the Lauder Employment Agreement), subject to his execution and non-revocation of a Separation Agreement and Release, Dr. Lauder is entitled to (a) a lump sum in cash equal to one times the sum of (i) Dr. Lauder’s then-current Base Salary plus (ii) Dr. Lauder’s Target Bonus for the then-current year; (b) full accelerated vesting of any then-outstanding equity awards as of the later of (i) the date of termination or (ii) the effective date of the Separation Agreement and Release; and (c) if Dr. Lauder elects to continue his health benefits through COBRA, monthly COBRA premiums paid by us until the earliest of: (i) the 12-month anniversary of the date of termination, (ii) the date Dr. Lauder becomes eligible for health insurance through another employer, or (iii) the cessation of Dr. Lauder’s continuation rights under COBRA.

In the event that Dr. Lauder is entitled to any payments pursuant to his Employee Confidentiality, Assignment and Noncompetition Agreement with us, cash severance amounts payable to him pursuant to the Lauder Employment Agreement will be reduced by the amount that Dr. Lauder is paid in the same calendar year pursuant to the Employee Confidentiality, Assignment and Noncompetition Agreement. Severance payments under the Lauder Employment Agreement shall cease in the event that Dr. Lauder breaches his obligations under the Employee Confidentiality, Assignment and Noncompetition Agreement.

Dr. Lauder has agreed to refrain from disclosing our confidential information during or at any time following his employment with us and from competing with us or soliciting our employees or customers during his employment and for twelve months following termination of his employment.

Director CompensationPlan Information

The following table presents the totalprovides information about our equity compensation for each person (i) who servedplans as a non-employee member of our Board during 2020, (ii) who continued to serve as a director of the Company following the closing of the Business Combination, and (iii) received compensation for such service during the fiscal year ended December 31, 2020. Other than as set forth in the table and described more fully below, we did not pay any compensation, make any equity awards to, or pay any other compensation to any of the non-employee members of our Board. Directors who serve as employees receive no additional compensation for their service as directors. Accordingly, Jason Meyenburg, our President and Chief Executive Officer, did not receive any compensation for his service as a member of our Board during 2020. Mr. Meyenburg’s compensation for service as an employee for fiscal year 2020 is presented in the “2020 Summary Compensation Table” above.

2020 Director Compensation Table2022:

 

Name

  Fees earned or
paid in cash
($)
   Option
awards

($)(1)
   Total
($)
 

David Lubner

   24,375    258,619    282,994 

Dr. Tuyen Ong

   11,358    258,619    269,977 

Plan Category

 

Number of
securities to be
issued upon
exercise of
outstanding
options,
warrants and
rights

 

 

Weighted-average
exercise price of
outstanding
options, warrants
and rights
($)

 

 

Number of
securities remaining
available for
future issuance
under equity
compensation
plans (excluding
securities reflected
in column (a))

 

 

(a)

 

 

(b)(3)

 

 

(c)

 

Equity compensation plans approved by security holders

 

 

 

 

 

 

 

 

 

2021 Stock Option and Incentive Plan(1)

 

 

833,812

 

 

 

25.98

 

 

 

1,031,615

 

2021 Employee Stock Purchase Plan(2)

 

 

 

 

 

 

 

 

179,898

 

2017 Stock Option and Grant Plan of Disc

 

 

1,670,839

 

 

 

7.20

 

 

 

 

2017 Stock Option and Grant Plan of Gemini

 

 

90,189

 

 

 

36.44

 

 

 

 

Equity compensation plans not approved by security holders

 

 

 

 

 

 

 

 

 

2021 Inducement Plan

 

 

45,750

 

 

 

125.90

 

 

 

115,939

 

Total

 

 

2,640,590

 

 

 

 

 

 

1,327,452

 

 

(1)

(1)
The amounts reported in the “Option Awards” column reflect the aggregate grant date fair value of stock options awarded during the year computed in accordance with the provisions of Financial Accounting Standards Board Accounting Standards Codification Topic 718. See Note 10 to the Company’s financial statements included in Item 9.01 of our Current Report on Form 8-K dated February 5, 2021 regarding assumptions underlying the valuation of equity awards.

Non-Employee Director Compensation Policy

In connection with the Business Combination, our Board adopted a non-employee director compensation policy, which is designed to enable us to attract and retain, on a long-term basis, highly qualified non-employee directors. Employee directors do not receive additional compensation for their services as directors. Each director who is not an employee is paid cash compensation as set forth below for serving on the Board, with such compensation paid on a quarterly basis in arrears:

   Annual
Retainer
 

Board of Directors

  $35,000 

Board of Directors Chair

  $65,000 

Audit Committee Chair

  $15,000 

Audit Committee Member

  $7,500 

Compensation Committee Chair

  $10,000 

Compensation Committee Member

  $5,000 

Nominating and Corporate Governance Committee Chair

  $8,000 

In addition, each non-employee elected or appointed to the Board following the closing of the Business Combination is granted a one-time stock option award to purchase a number of shares of Commoncommon stock reserved for issuance under the 2021 Stock Option and Incentive Plan automatically increases on January 1 of each calendar year, starting on January 1, 2022 and continuing through January 1, 2031, in an amount equal to 0.08%4% of the total number of shares of the Company’s capital stock

35


outstanding on the datelast day of such director’s election or appointment to the Board, which vests in equal monthly installments over three years, subject to continued service through such vesting dates. Oncalendar month before the date of each annual meetingautomatic increase, or a lesser number of stockholders of our Company, each non-employee director will be granted an annual stock option awardshares determined by the Board. Subject to purchase athis provision, we added 696,224 shares to the 2021 Stock Option and Incentive Plan effective January 1, 2023.
(2)
The number of shares of Commoncommon stock reserved for issuance under the 2021 Employee Stock Purchase Plan automatically increases on January 1 of each calendar year, starting on January 1, 2023 and continuing through January 1, 2031, in an amount equal to 0.04%the least of (a) 1% of the total number of shares outstanding, which vests in full of the earlier to occurCompany’s capital stock outstanding on the last day of the first anniversary ofcalendar month before the date of granteach automatic increase, (b) 43,055 shares of common stock, or (c) such number of shares determined by the next annual meeting, subjectBoard. Subject to continued service as a director through such vesting date.

Compensation Risk Assessment

We believe that although a portion ofthis provision, we added 43,055 shares to the compensation provided to our executive officers2021 Employee Stock Purchase Plan effective January 1, 2023.

(3)
The weighted-average exercise price is performance-based, our executive compensation programcalculated based solely on outstanding stock options and does not encourage excessive or unnecessary risk taking. This is primarily because its compensation programs are designed to create a greater focus on long-term value creation while balancing the need to meet shorter-term goals. The framework and goals of its annual performance-based incentive plan are consistent for all employees. Further all compensation decisions for our officers are approved by the Compensation Committee, while the chief executive officer’s compensation requires further approval by its Board.

In addition, the Compensation Committee is responsible for reviewing and approving the design, goals and payouts under our annual bonus plan and equity incentive program for our named executive officers. The Compensation Committee directly engages an independent compensation consultant who advises on market competitive and best practices, as well as any potential risks related to its compensation programs. This includes pay mix, compensation vehicles, pay for performance alignment, performance measures and goals, payout maximums, vesting periods and compensation committee oversight and independence. Based on all the factors mentioned, we believe our compensation policies, programs and practicesinclude outstanding restricted stock awards, which do not create risks that are reasonably likely to have a material adverse effect on us.an exercise price.

36


CERTAIN RELATIONSHIPSRELATIONSHIPS AND RELATED PARTY TRANSACTIONS

Policies and Procedures Regarding Transactions with Related Parties

We have a written related person transaction policy that sets forth theThe following policies and procedures for the review and approval or ratification of related person transactions. Our policy requires us to avoid, wherever possible, all Related Person Transactions (as defined below) that could result in actual or potential conflicts of interests, except under guidelines approved by the Board (or the Audit Committee).

A “Related Person Transaction” is a transaction, arrangementdescription of transactions or relationship inseries of transactions since January 1, 2022, to which the Company or any of its subsidiaries was, iswe were or will be a participant, party, in which:

the amount involved in the transaction exceeds, or will exceed, the lesser of which involved exceeds $120,000 or one percent of the average of our total assets for the last two completed fiscal years; and
in which any related personof our executive officers, directors or holders of five percent or more of any class of our capital stock, including their immediate family members or affiliated entities, had has or will have a direct or indirect material interest. A “Related Person” means:

any person who is, or at any time during the applicable period was, one of the Company’sCompensation arrangements for our named executive officers or directors;

any person who is known by the Company to be the beneficial owner of more than five percent (5%) of its voting stock;

any immediate family member of any of the foregoing persons, which means any child, stepchild, parent, stepparent, spouse, sibling, mother-in-law,father-in-law,daughter-in-law,brother-in-law or sister-in-law of a director, officer or a beneficial owner of more than five percent (5%) of its voting stock, and any person (other than a tenant or employee) sharing the household of such director, officer or beneficial owner of more than five percent (5%) of its voting stock; and

any firm, corporation or other entity in which any of the foregoing persons is a partner or principal or in a similar position or in which such person has a ten percent (10%) or greater beneficial ownership interest.

The Audit Committee of the Board has the responsibility for reviewing and approving any related person transactions. In reviewing any related person transaction, the Audit Committee will take into account, among other factors that it deems appropriate, whether the related person transaction is on terms no less favorable to the Company than terms generally available in a transaction with an unaffiliated third-party under the same or similar circumstances and the extent of the Related Person’s interest in the related person transaction. We will not enter into any such transaction unless the Audit Committee and a majority of our disinterested “ independent” directors determine that the terms of such transaction are no less favorable to us than those that would be available to us with respect to such a transaction from unaffiliated third parties. Additionally, we require each of our directors and officers to complete a directors’ and officers’ questionnaire that elicits information about related party transactions.

These procedures are intended to determine whether any such related party transaction impairs the independence of a director or presents a conflict of interest on the part of a director, employee or officer.

Certain Related-Party Transactions

Below are our related party transactions since January 1, 2020, to which we have been a party, other than compensation, termination, change in control and other arrangements, which are described in the sectionssection of this proxy statement titled “Executive Officer and Director Compensation.”

Private Placements of Securities

2022 Registration Rights Agreement

We are a party to a registration rights agreement, or the 2022 Registration Rights Agreement, pursuant to which, among other things,with certain holders of our capital stock, including certain investorsor the 2022 Investors, pursuant to which we (i) agreed to register for resale shares of FSDC (the “FSDC Investors”), certain entities affiliated with Atlas Ventures, entities affiliated with Lightstone Ventures, OrbiMed Private Investments VI, LP,our common stock issued to the 2022 Investors, or the Registrable Securities, and Wu Capital Investment LLC (collectively, the “Major Gemini Investors” and together with the FSDC Investors, the “Investors”) are(ii) granted certain other registration rights with respect to Registrable Securities (as defined in the Registration Rights Agreement) held by them, subject to certain conditions and limitations.

2022 Investors.

In particular, the 2022 Registration Rights Agreement provides for the following registration rights:

Demand registration rights

Shelf registration rights. No later than 45 calendar days following the completion of the merger, we were required to file with the SEC, a shelf registration statement registering the resale of the Registrable Securities, and use our commercially reasonable efforts to have such registration statement declared effective by the SEC as promptly as possible.
Expenses and indemnification. At any time after February 5, 2021, and following the expiration of any lock- up to which an Investor may be subject, the Company will be required, upon the written request of either (i) FSDC Investors holding a majority of the Registrable Securities held by all FSDC Investors or (ii) Major Gemini Investors holding a majority of the Registrable Securities held by all Major Gemini Investors, to file a registration statement under the Securities Act of 1933, as amended (the “Securities Act”) on Form S- 1 or any similar long-form registration statement or, if then available, on Form S-3, and use reasonable best efforts to effect the registration of all or part of their registrable securities requested to be included in such registration by the Investors.

Shelf registration rights. The Company was required, to file a shelf registration statement pursuant to Rule 415 of Securities Act, which was filed on February 17, 2021 and became effective on April 28, 2021. At any time the Company has an effective shelf registration statement, if the Company shall receive a request from Investors holding registrable securities with an estimated market value of at least $5,000,000, to effect an underwritten shelf takedown, the Company shall use its reasonable best efforts to as expeditiously as possible to effect the underwritten shelf takedown.

Limits on demand registration rights and shelf registration rights. Gemini shall not be obligated to effect: (a)    more than one (1) demand registration or underwritten shelf takedown during any six-month period; (b) any demand registration at any time there is an effective resale shelf registration statement on file with the SEC; (c) more than two underwritten demand registrations in respect of all registrable securities held by the FSDC Investors, including those made under a shelf registration statement, or (d) more than two underwritten demand registrations in respect of all registrable securities held by the Major Gemini Investors, including those made under a shelf registration statement.

Piggyback registration rights. At any time after the first anniversary of the Closing Date, if Gemini proposes to file a registration statement to register any of its equity securities under the Securities Act or to conduct a public offering, either for its own account or for the account of any other person, subject to certain exceptions, the Investors are entitled to include their registrable securities in such registration statement, subject to customary cut-back rights.

Expenses and indemnification. All fees, costs and expenses of underwritten registrations will be borne by the Company and underwriting discounts and selling commissions will be borne by the holders of the shares being registered. The Registration Rights Agreement contains customary cross-indemnification provisions, under which the Company is obligated to indemnify holders of registrable securities in the event of material misstatements or omissions in the registration statement attributable to the Company, and holders of registrable securities are obligated to indemnify the Company for material misstatements or omissions attributable to them.

Registrable securities. Securities of the Company shall cease to be registrable securities upon the earlier of (i) tenth anniversary of February 5, 2021 and (ii) the date as of which (1) a registration statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been disposed of in accordance with such registration statement, or (2) such securities shall have been transferred pursuant to Rule 144 of the Securities Act, or with respect to any Investor, securities of such Investor shall cease to be registrable securities, on the earlier of (x) the date such Investor ceases to hold at least 1% of the registrable securities or (y) if such Investor is an individual and such Investor is a director or an executive officer of the Company or FSDC as of immediately prior to the consummation of the Business Combination, the date when such Investor is permitted to sell the Registrable Securities under Rule 144 (or any similar provision) under the Securities Act without limitation on the amount of securities sold or the manner of sale.

Lockup. Under the Registration Rights Agreement, each Investor was required to enter into a customary lockup agreement restricting such investor from transferring any shares of Common Stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock for one hundred eighty (180) days following February 5, 2021, which restriction expired August 4, 2021. The foregoing notwithstanding, each executive officer and director of the Company was permitted to establish a plan to acquire and sell shares of Common Stock pursuant to Rule 10b5-1 under the Exchange Act; provided, however, no sale of shares under any such plan shall be made prior to the expiration of the one hundred eighty (180) day lock-up period on August 4, 2021.

Voting Agreement

The Company is a partyfees, costs and expenses of registrations pursuant to the Votingregistration rights granted to the 2022 Investors under the 2022 Registration Rights Agreement pursuantwill be borne by us. The 2022 Registration Rights Agreement contains customary cross-indemnification provisions, under which we are obligated to which certain stockholdersindemnify holders of Registrable Securities in the Company agreeevent of material misstatements or omissions in the registration statement attributable to vote all voting securitiesus, and holders of the Company that it owns from timeRegistrable Securities are obligated to time and that it may voteindemnify us for material misstatements or omissions attributable to them.

37


Common Stock Financing

In August 2022, in accordanceconnection with the provisions of the Votingmerger, we entered into a Subscription Agreement whether at a regular or special meeting of stockholders.with certain investors. Pursuant to the VotingSubscription Agreement, until the earlier of (i) the fifth (5th) anniversary of February 5, 2021 or (ii) the date on which FS owns less than 1,217,563 shares of Common Stock, at each annual or special meeting of stockholders of the Company, FS shall have the right to designate for election as a member of the Board, and the Board (including any committee thereof) shall nominate (and recommend for election and include such recommendation in a timely manner in any proxy statement or other applicable announcement to its stockholders), one individual to serve as a Class III Director. If FS ceases to be entitled to nominate any directors, then such directors shall be nominated by the Board and approved by the holders of the outstanding shares of Common Stock.

All directors elected pursuant to the terms of the Voting Agreement shall be removed from the Board only upon the vote or written consent of the voting party that is entitled to nominate, appoint or elect such director. Upon any decrease in the rights of any such voting party to nominate, appoint or elect any director, the applicable voting party shall promptly cause the removal or resignation of an applicable directors if requested by the Board. Upon any individual elected to serve as a director pursuant to the Voting Agreement ceasing to be a member of the Board, whether by death, resignation or removal or otherwise, only the voting party that was entitled to nominate, appoint or elect such individual shall have the right to fill any resulting vacancy in the Board; provided that such voting party still has the right to nominate, appoint or elect the applicable director.

Certain Relationships and Related Person Transactions – FS Development Corp.

On June 30, 2020, FS purchasedwe sold an aggregate of 2,875,000 shares (the “Founder Shares”) of FSDC’s Class B Common Stock, par value $0.0001 per share (the “Class B Shares”) for a total purchase price of $25,000, or approximately $0.009 per share. In July 2020, FS transferred 30,000 Class B Shares to each of Robert Carey, Dan Dubin and Deepa Pakianathan. On August 11, 2020, FSDC effected a 1:1.05 stock split of FSDC Class B Common Stock, resulting in FS holding 2,928,750 Class B Shares and there being an aggregate of 3,018,750 Class B Shares outstanding. The number of Class B Shares outstanding was determined based on the expectation that the total size of the initial public offering of FSDC would be a maximum of 12,075,00021,341,737 shares of FSDC’s Class A Common Stock, par value $0.000 per share (the “Class A Shares”), if the underwriters’ over-allotment option would be exercised in full, and therefore that such Class B Shares would represent 20% of the issued and outstanding shares ofour common stock, (excluding the Private Placement Shares (as defined below)) after such offering.

FS purchased 441,500 Class A Shares (collectively, the “Private Placement Shares”) at a price of $10.00$2.51 per share, or $4,415,000 in the aggregate, in a private placement that closed simultaneously with FSDC’s initial public offering (the “FSDC IPO”).

Until the Closing, FSDC utilized office space at 600 Montgomery Street, Suite 4500, San Francisco, California 94111 from FS. Following the closing of the FSDC IPO, FSDC paid FS $10,000 per month for office space, secretarial and administrative services provided to members of its management team pursuant to the terms of an administrative services agreement between FSDC and FS.

FS and FSDC’s executive officers and directors were reimbursed for any out-of-pocket expenses incurred in connection with activities on FSDC’s behalf, in connection with the completion of an initial business combination, such as identifying potential target businesses and performing due diligence on suitable business combinations. FSDC’s audit committee reviewed on a quarterly basis all payments that were made to FS, officers, directors or its or their affiliates.

FS loaned FSDC $200,000 to be used for a portion of the expenses of the FSDC IPO. These loans were non-interest bearing, unsecured and were due at the earlier of December 31, 2020 or the closing of the FSDC IPO. These loans were fully repaid by FSDC on August 14, 2020.

In connection with the Business Combination, as part of the sale of 9,506,000 newly issued shares of Common Stock, an affiliate of FS had entered into a subscription agreement to purchase 1,500,000 shares of Common Stock at a purchase price of $10 per share in a private placement concurrent with the Business Combination. In connection with the closing of the Business Combination, the affiliate of FS assigned to FS its obligation to purchase its shares under the subscription agreement so that FS purchased such shares.

On August 11, 2020, FSDC entered into a registration rights agreement (the “prior registration rights agreement”) with respect to the Founders Shares and Private Placement Shares. The holders of these securities were entitled to make up to three demands, excluding short form demands, that FSDC register such securities. In addition, the holders had certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of FSDC’s initial business combination. FSDC bears the expenses incurred in connection with the filing of any such registration statements. As part of the prior registration rights agreement, certain holders of registrable securities agreed to a lock-up period of one year from the closing of the Business Combination.

In connection with the closing of the Business Combination, the FSDC Investors and certain other stockholders entered into the Registration Rights Agreement with the Company that replaced the prior registration rights agreement.

In connection with the Agreement and Plan of Merger, dated as of October 15, 2020, by and among FSDC, Gemini Sub and the other parties named therein (the “Merger Agreement”) related to the Business Combination, the FSDC Investors entered into support agreements with FSDC, Gemini Sub and FS. Under such support agreements, each such stockholder agreed to vote, at any meeting of the stockholders of FSDC, and in any action by written consent of the stockholders of FSDC, all of such stockholder’s Class B Common Stock of FSDC (i) in favor of (A) the Merger Agreement, (B) certain proposals requiring approval by the stockholders of the Company in connection with Business Combination, and (C) the transactions contemplated by the Merger Agreement and such support agreements, and (ii) in favor of any other matter reasonably necessary to the consummation of the transactions contemplated by the Merger Agreement and the approval of such stockholder proposals. In addition, such support agreements prohibit each such stockholder from, among other things, selling, assigning or transferring any Class B Common Stock of FSDC held by such stockholder or taking any action that would prevent or disable such stockholder from performing its obligations under the support agreement.

Convertible Note Financing

On August 21, 2020, Gemini Sub issued convertible promissory notes for aggregate gross proceeds of $14,000,000 (the “Notes”), at a$53.5 million. At the closing of the merger, shares of our common stock held pursuant to a convertible note purchase agreement among Gemini Sub and certain investors. The followingbefore the merger were exchanged for shares of common stock in the combined publicly-traded company based on an exchange ratio of 0.1096. Four of the investors or their affiliates are beneficial holders of more than 5% of Gemini Sub’sour capital stock, participatedand the table below sets forth the number of shares of our common stock purchased by such holders:

Participant

Shares of
our
Common
Stock

 

Total
Purchase
Price
($)

 

Atlas Venture Opportunity Fund I, L.P.(1)

 

1,992,031

 

 

5,000,000

 

Novo Holdings A/S(2)

 

1,195,219

 

 

3,000,000

 

AI DMI LLC(3)

 

9,960,159

 

 

25,000,000

 

Entities affiliated with OrbiMed Advisors LLC(4)

 

3,984,063

 

 

9,999,998

 

(1)
Entities affiliated with Atlas Venture Opportunity Fund I, L.P. beneficially own more than five percent of our outstanding capital stock. Dr. Bitterman is a Partner at Atlas Ventures and a member of our board of directors.
(2)
Novo Holdings A/S is an affiliate of Novo Ventures (US), Inc., and beneficially owns more than five percent of our outstanding capital stock.
(3)
AI DMI LLC is an affiliate of Access Industries Management, and beneficially owns more than five percent of our outstanding capital stock. Dr. Ratcliffe is Head of Biotechnology at Access Industries Management and a member of our board of directors.
(4)
Entities affiliated with OrbiMed Advisors LLC beneficially own more than five percent of our outstanding capital stock. Dr. Ashiya is a Partner at OrbiMed Advisors LLC and a member of our board of directors.

Registered Direct Offering

In February 2023, we entered into a securities purchase agreement, or the Purchase Agreement, with certain investors. Pursuant to the Purchase Agreement, we sold (i) an aggregate of 1,488,166 shares of our common stock, at a purchase price of $23.00 per share, and (ii) with respect to certain investors, in lieu of shares of our common stock, pre-funded warrants to purchase an aggregate of 1,229,224 shares of our common stock, at a purchase price of $22.9999 per pre-funded warrant, for aggregate gross proceeds of approximately $62.5 million. The investors or their affiliates are beneficial holders of more than 5% of our capital stock, and the note financing. The Notes accrue simple interesttable below sets forth the number of shares of our common stock and pre-funded warrants to purchase shares of our common stock purchased by such holders:

Participant

Shares of
our
Common
Stock

 

 

Shares of
our
Common
Stock Underlying
Pre-Funded Warrants

 

Total
Purchase
Price
($)

 

Bain Capital Life Sciences Opportunities III, L.P.(1)

 

944,687

 

 

 

1,229,224

 

 

49,999,830

 

Entities affiliated with OrbiMed Advisors LLC(2)

 

108,696

 

 

 

 

 

2,500,008

 

AI DMI LLC(3)

 

434,783

 

 

 

 

 

10,000,009

 

(1)
Bain Capital Life Sciences Opportunities III, L.P. beneficially owns more than five percent of our outstanding capital stock.

38


(2)
Entities affiliated with OrbiMed Advisors LLC beneficially own more than five percent of our outstanding capital stock. Dr. Ashiya is a Partner at 8% per annumOrbiMed Advisors LLC and matured on February 21, 2021. Priora member of our board of directors.
(3)
AI DMI LLC is an affiliate of Access Industries Management, and beneficially owns more than five percent of our outstanding capital stock. Dr. Ratcliffe is Head of Biotechnology at Access Industries Management and a member of our board of directors.

License Agreements

In connection with and as partial consideration under the Roche Agreement with Roche executed in 2021, we issue to Roche 482,313 shares of our common stock equal to 2.85% of our issued and outstanding capitalization immediately following the closing of the Business Combinationmerger and the pre-closing financing, no additional consideration concurrent with FSDC, all principal and accrued interestthe completion of the merger. The issuance of such shares were not registered under the Notes converted intoSecurities Act.

In connection with and as partial consideration under the AbbVie Agreement with AbbVie executed in 2019, we issued 4,336,841 shares of Gemini Sub’s Series B Preferred Stock.our common stock to AbbVie for no additional consideration. Pursuant to this agreement, 2,295,174 shares vested immediately in September 2019, with the remaining 2,041,667 shares subject to a performance condition, which was met during 2020. At the closing of the merger, shares of our common stock held before the merger were exchanged for shares of common stock in the combined publicly-traded company based on an exchange ratio of 0.1096.

Name of 5% Gemini Stockholder

  Principal
Amount of Note

Purchased
 

Lightstone Singapore L.P.

  $3,000,000 

OrbiMed Private Investments VI, LP

  $4,887,000 

Atlas Venture Opportunity Fund I, L.P.

  $4,361,000 

Wu Capital Investment LLC

  $1,752,000 

Gemini Accounting ServicesIndemnification Agreements

On April 17, 2020, Gemini Sub engaged Danforth Advisors, an accountingWe have entered into agreements to indemnify our directors and finance advisory company managedexecutive officers. These agreements require us to indemnify these individuals for certain expenses (including attorneys’ fees), judgments, fines and settlement amounts reasonably incurred by Gregg Beloff,such person in any action or proceeding, including any action by or in our right, on account of any services undertaken by such person on our behalf or that person’s status as a member of our board of directors to the Company’s former Interim Chief Financial Officer. Through February 28, 2021,maximum extent allowed under Delaware law.

Policies for Approval of Related Party Transactions

Our board of directors reviews and approves transactions with our directors, officers and holders of five percent or more of our voting securities and their affiliates, each a related party. Prior to such transaction, the Company paid $768,658material facts as to Danforth Advisorsthe related party’s relationship or interest in exchange for professional servicesthe transaction are disclosed to our board of directors prior to their consideration of such transaction, and the transaction is not considered approved by the board of directors unless a majority of the directors who are not interested in the transaction approve the transaction. Further, when stockholders are entitled to vote on a transaction with a related party, the material facts of the related party’s relationship or interest in the transaction are disclosed to accounting, finance and other administrative functions.

the stockholders, who must approve the transaction in good faith.

39


SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENTPRINCIPAL STOCKHOLDERS

AND RELATED STOCKHOLDER MATTERS

Security Ownership of Certain Beneficial Owners and Management

TheUnless otherwise provided below, the following table sets forth information regarding the beneficial ownership of the Common Stockour common stock as of August 10, 2021:

April 14, 2023 by:

each person, or group of affiliated persons, who is known byto us to beneficially own greater than 5.0%be the beneficial owner of 5% or more of the outstanding shares of our outstanding Common Stock;

common stock;

each of our current directors;

each of

our principal executive officer and our other executive officers who served during the year ended December 31, 2022, named in the Summary Compensation table above, whom, collectively, we refer to as our named executive officers; and

all of our directors and executive officers as a group.

Beneficial ownership is determined according to thein accordance with SEC rules. These rules of the SEC, which generally provide that a person hasattribute beneficial ownership of a security if he, she or it possessessecurities to persons who possess sole or shared voting power or investment power over that security, including optionswith respect to those securities and warrants (as applicable) that are currently exercisable or exercisable within 60 days. Sharesinclude shares of our Common Stock subject tocommon stock issuable upon the exercise of stock options that are currentlyimmediately exercisable or exercisable within 60 days of August 10, 2021 are considered outstanding and beneficially owned by the person holding the options for the purpose of calculating the percentage ownership of that person but not for the purpose of calculating the percentage ownership of any other person or entity. Unlessafter April 14, 2023. Except as otherwise indicated, Gemini believes thatall of the shares reflected in the table are shares of common stock and all persons named in the tablelisted below have sole voting and investment power with respect to all Common Stockthe shares beneficially owned by them. Unlessthem, subject to applicable community property laws. The information is not necessarily indicative of beneficial ownership for any other purpose.

The column entitled “Percentage of Shares Beneficially Owned” is based on a total of 19,793,870 shares of our common stock outstanding as of April 14, 2023. Except as otherwise noted,indicated in the footnotes below, the address of the beneficial owner is c/o Disc Medicine, Inc., 321 Arsenal Street, Suite 101, Watertown, MA 02472.

 

Number of
Shares of
Common
Stock
Beneficially
Owned

 

 

Percentage of
Shares
Beneficially
Owned

 

5% or Greater Stockholders

 

 

 

 

 

 

Entities affiliated with Atlas Venture Fund(1)

 

 

3,461,784

 

 

 

17.49

%

AI DMI LLC(2)

 

 

3,141,759

 

 

 

15.87

%

Novo Holdings A/S(3)

 

 

2,340,772

 

 

 

11.83

%

Entities affiliated with OrbiMed(4)

 

 

2,269,637

 

 

 

11.47

%

Bain Capital Life Sciences Opportunities III, LP(5)

 

 

1,977,370

 

 

 

9.99

%

Directors, Named Executive Officers and Other Executive Officers

 

 

 

 

 

 

John Quisel, J.D., Ph.D.(6)

 

 

326,708

 

 

 

1.65

%

William Savage, MD, Ph.D.(7)

 

 

64,519

 

 

*

 

Joanne Bryce, CPA(8)

 

 

61,282

 

 

*

 

Jonathan Yu(9)

 

 

64,962

 

 

*

 

Mona Ashiya, Ph.D.(10)

 

 

7,000

 

 

*

 

Jay Backstrom, MD, M.P.H.(11)

 

 

16,650

 

 

*

 

Kevin Bitterman, Ph.D.(12)

 

 

7,000

 

 

*

 

Mark Chin, MS, MBA(13)

 

 

7,000

 

 

*

 

Georges Gemayel(14)

 

 

94,946

 

 

*

 

Donald Nicholson, Ph.D.(15)

 

 

118,734

 

 

*

 

Liam Ratcliffe, MD, Ph.D.

 

 

 

 

 

 

William White, MPP, J.D.(16)

 

 

28,791

 

 

*

 

All executive officers and directors as a group (14 persons)

 

 

931,458

 

 

 

4.71

%

* Represents beneficial ownership of less than 1% of our outstanding common stock.

40


(1)
Consists of (i) 2,237,303 shares held by Atlas Venture Fund X, L.P., or Atlas Fund X, 955,155 shares held by Atlas Venture Opportunity Fund I, L.P., or AVOF I, 218,326 shares held by Atlas Venture Opportunity Fund II, L.P., or AVOF II, and 51,000 shares held by Atlas Venture Fund XII, L.P., or Atlas Fund XII. Atlas Venture Associates X, L.P. is the general partner of Atlas Fund X, and Atlas Venture Associates X, LLC is the general partner of Atlas Venture Associates X, L.P. Each of Atlas Fund X, Atlas Venture Associates X, L.P., and Atlas Venture Associates X, LLC may be deemed to beneficially own the shares held by Atlas Fund X. Each of Atlas Venture Associates X, L.P. and Atlas Venture Associates X, LLC disclaim Section 16 beneficial ownership of the securities owned by Atlas Fund X, except to the extent of its pecuniary interest therein, if any. The general partner of AVOF I is Atlas Venture Associates Opportunity I, L.P., or AVAO I LP, and the general partner of AVAO I LP is Atlas Venture Associates Opportunity I, LLC, or AVAO I LLC. The members of AVAO I LLC collectively make investment decisions on behalf of AVAO I LLC. Kevin Bitterman, Ph.D., is a member of AVAO I LLC and a member of the Company’s Board. Each of AVOF I, AVAO I LP, AVAO I LLC and Dr. Bitterman may be deemed to beneficially own the shares held by AVOF I. Each of AVAO I LP, AVAO I LLC and Dr. Bitterman expressly disclaim beneficial ownership of the securities owned by AVOF I, except to the extent of its pecuniary interest therein, if any. The general partner of AVOF II is Atlas Venture Associates Opportunity II, L.P., or AVAO II LP, and the general partner of AVAO II LP is Atlas Venture Associates Opportunity II, LLC, or AVAO II LLC. The members of AVAO II LLC collectively make investment decisions on behalf of AVAO II LLC. Dr. Bitterman is a member of AVAO II LLC and a member of the Company’s Board. Each of AVAO II LP, AVAO II LLC and Dr. Bitterman may be deemed to beneficially own the shares held by AVOF II. Each of AVOF II, AVAO II LP, AVAO II LLC and Dr. Bitterman expressly disclaim beneficial ownership of the securities owned by AVOF II, except to the extent of its pecuniary interest therein, if any. The general partner of Atlas Fund XII is Atlas Venture Associates XII, L.P., or AVA XII LP. Atlas Venture Associates XII, LLC, or AVA XII LLC, is the general partner of AVA XII LP. The members of AVA XII LLC collectively make investment decisions on behalf of AVA XII LLC. Dr. Bitterman is a member of AVA XII LLC and a member of the Company’s Board. Each of Atlas Fund XII, AVA XII LP, AVA XII LLC and Dr. Bitterman may be deemed to beneficially own the shares held by Atlas Fund XII. Each of AVA XII LP, AVA XII LLC and Dr. Bitterman expressly disclaim Section 16 beneficial ownership of the securities owned by Atlas Fund XII, except to the extent of its pecuniary interest therein, if any. The address for Atlas Ventures is 300 Technology Sq., 8th Floor, Cambridge, MA 02139.
(2)
The shares held by AI DMI LLC may be deemed to be beneficially owned by Access Industries Holdings LLC, or AIH, Access Industries Management, LLC, or AIM, and Len Blavatnik because (i) AIH indirectly controls all of the outstanding voting interests in AI ETI LLC, (ii) AIM controls AIH and (iii) Mr. Blavatnik controls AIM and holds a majority of the outstanding voting interests in AIH. Liam Ratcliffe, a member of our board of directors, is Head of Biotechnology at Access Industries, Inc., which is an affiliate of AI DMI LLC. Each of AIM, AIH, Mr. Blavatnik and Dr. Ratcliffe, and each of their affiliated entities and the officers, partners, members and managers thereof, disclaims beneficial ownership of the shares held by AI DMI LLC. The address of AI DMI LLC is c/o Access Industries, Inc., 40 West 57th Street, 28th Floor, New York, NY 10019.
(3)
Novo Holdings A/S has the sole power to vote and dispose of the shares, and no individual or other entity is deemed to hold any beneficial ownership in the shares. Eric Snyder, Ph.D. is employed as a Partner at Novo Ventures (US), Inc., which provides certain consultancy services to Novo Holdings A/S, and is a former member of the Company’s Board. Dr. Snyder is not deemed to hold any beneficiary ownership or reportable pecuniary interest in the shares held by Novo Holdings A/S. The business address of eachNovo Holdings A/S is Tuborg Havnevej 19, 2900 Hellerup, Denmark.
(4)
OrbiMed Advisors LLC exercises voting and investment power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild. The business address is 601 Lexington Avenue, 54th Floor, New York, NY 10022.
(5)
Bain Capital Life Sciences Investors, LLC, a Delaware limited liability company, or BCLSI, is the executive officersmanager of Bain Capital Life Sciences III General Partner, LLC, a Delaware limited liability company, or BCLS Fund III GP, which is the general partner of Bain Capital Life Sciences Fund III, L.P., a Delaware limited partnership, or BCLS Fund III, which is the sole member of Bain Capital Life Sciences Opportunities III GP, a Delaware limited liability company, or BCLS III Opportunities GP, and, directorstogether with BCLSI, BCLS Fund III GP and BCLS Fund III, the Bain Capital Life Sciences Entities, which is the general partner of Gemini is 300 One Kendall Square, 3rd Floor, Cambridge, MA 02139. The percentageBCLSI. As a result, BCLSI may be deemed to share voting and dispositive power with respect to the securities held by BCLSI. As of shares beneficially owned is based on 43,109,472February 24, 2022, BCLS III Opportunities GP holds 944,687 shares of Common Stock and pre-funded warrants to purchase 1,229,224 shares of Common Stock. As a result of a beneficial ownership blocker, beneficial ownership of Bain

41


Capital Life Sciences Opportunities III, LP is capped at 9.99% of the outstanding shares of Common Stock, representing 1,977,370 shares of Common Stock calculated as described herein as of August 10, 2021.

Name of Beneficial Owner

  Number of Shares   % 

Directors and Officers:

    

Jason Meyenburg(1)

   433,987    1.0 

Brian Piekos(2)

   7,655    * 

Sam Barone

   —     

Georges Gemeyal

   —     

Jean George

   —     

Carl Gordon

   —     

David Lubner(3)

   36,815    * 

Tuyen Ong(4)

   30,675    * 

Jason Rhodes

   —     

Jim Tananbaum(5)

   4,870,250    11.3 

All Directors and Executive Officers as a group (11 individuals)

   5,555,585    12.9 

Five Percent Holders:

    

FS Development Holdings, LLC(5)

   4,870,250    11.3 

Orbimed Private Investments VI, LP(6)

   5,826,224    13.5 

Entities affiliated with Atlas Ventures(7)

   5,254,365    12.2 

Entities affiliated with Lightstone Ventures(8)

   4,836,106    11.2 

Entities affiliated with Fidelity(9)

   2,789,500    6.5 

*

Less than one percent.

(1)

RepresentsApril 14, 2023. The business address of these entities is 200 Clarendon Street, Boston, Massachusetts 02116.

(6)
Consists of options to purchase 326,708 shares currently held and shares of Common Stock that are currently exercisable or exercisable within 60 days of August 10, 2021.

(2)

Represents shares currently held and shares of Common Stock that are currently exercisable or exercisable within 60 days of August 10, 2021.

(3)

Represents shares of Common Stock that are currently exercisable or exercisable within 60 days of August 10, 2021.

(4)

Represents shares of Common Stock that are currently exercisable or exercisable within 60 days of August 10, 2021.

(5)

FS Development Holdings, LLC is the record holder of 4,870,250 shares reported herein. Foresite Capital Management V, LLC (“FCM V”), is the general partner of Foresite Capital Fund V LP (“ FCM V LP”) and Foresite Capital Opportunity Management V, LLC (“FCOM V”) is the general partner of Foresite Capital Opportunity Fund V, L.P. (“FCOM LP”), with FCM LP and FCOM LP being the sole members of FS Development Holdings, LLC. FCM V and FCOM V, as general managers of the sole members, have voting and investment discretion with respect to the common stock held of record by FS Development Holdings, LLC. Dr. Tananbaum, in his capacity as managing member of FCM V and FCOM V, may be deemed to have voting and investment discretion over these shares. Each of FCM V LP, FCOM LP, FCM V, FCOM V and Dr. Tananbaum disclaim beneficial ownership of these shares except to the extent of any pecuniary interest therein.

(6)

Represents 5,826,224 shares held by OrbiMed Private Investments VI, LP. OrbiMed Capital GP VI LLC, or GP VI, is the general partner of OrbiMed Private Investments VI, LP, or OPI VI. OrbiMed Advisors LLC, or OrbiMed Advisors, is the managing member of GP VI. By virtue of such relationships, OrbiMed Advisors and GP VI may be deemed to have voting and investment power with respect to the shares held by OPI VI and as a result may be deemed to have beneficial ownership of these shares. OrbiMed Advisors exercises investment and voting power through a management committee comprised of Carl Gordon, Sven H. Borho, and Jonathan T. Silverstein, each of whom disclaims beneficial ownership of the shares held by OPI.

(7)

Represents 4,015,045 shares held by Atlas Venture Fund X, L.P. (“Atlas Fund X”), 729,320 shares held by Atlas Venture Opportunity Fund I, L.P. (“Atlas Fund I”), and 510,000 shares held by Atlas Venture Fund XII, L.P. (“Atlas Fund XII”). Atlas Venture Associates X, L.P. is the general partner of Atlas Fund X, and Atlas Venture Associates X, LLC is the general partner of Atlas Venture Associates X, L.P. Each of Atlas Fund X, Atlas Venture Associates X, L.P., and Atlas Venture Associates X, LLC may be deemed to beneficially own the shares held by Atlas Fund X. Each of Atlas Venture Associates X, L.P. and Atlas Venture Associates X, LLC disclaim Section 16 beneficial ownership of the securities owned by Atlas Fund X, except to the extent of its pecuniary interest therein, if any. Atlas Venture Associates Opportunity I, L.P. is the general partner of Atlas Fund I, and Atlas Venture Associates Opportunity I, LLC, or AVAO, LLC, is the general partner of Atlas Venture Associates Opportunity I, L.P. Each of Atlas Fund I, Atlas Venture Associates Opportunity I, L.P. and AVAO, LLC may be deemed to beneficially own the shares held by Atlas Fund I. Each of Atlas Venture Associates Opportunity I, L.P. and AVAO LLC disclaim Section 16 beneficial ownership of the securities owned by Atlas Fund I, except to the extent of its pecuniary interest therein, if any. The general partner of Atlas Fund XII is Atlas Venture Associates XII, L.P. (“AVA XII LP”). Atlas Venture Associates XII, LLC (“AVA XII LLC”) is the general partner of AVA XII LP. Each of Atlas Fund XII, AVA XII LP, and AVA XII LLC may be deemed to beneficially own the shares held by Atlas Fund XII. Each of AVA XII LP and AVA XII LLC disclaim Section 16 beneficial ownership of the securities owned by Atlas Fund XII, except to the extent of its pecuniary interest therein, if any.

(8)

The shares are owned as follows: (i) 2,796,868 by Lightstone Ventures, L.P. (“LV LP”), (ii) 381,040 by Lightstone Ventures (A), L.P. (“LV(A) LP”), and (iii) 1,658,198 by Lighstone Singapore, L.P. (“LV Singapore”). LSV Associates, LLC (“LSV Associates”) is the General Partner of LV Singapore, LV LP and LV(A) LP. As the individual general partners of LSV Associates, Michael A. Carusi, Jean M. George and Henry A. Plain Jr. share voting and dispositive power with respect to the shares held of record by LV Singapore, LV LP and LV(A) LP.

(9)

Fidelity Management & Research Company, or Fidelity, 82 Devonshire Street, Boston, Massachusetts 02109, a wholly owned subsidiary of FMR LLC and an investment adviser registered under Section 203 of the Investment Advisers Act of 1940, is the beneficial owner of such shares of common stock as a result of acting as investment adviser to various investment companies registered under Section 8 of the Investment Company Act of 1940. Abigail P. Johnson is a Director, the Chairman, the Chief Executive Officer and the President of FMR LLC. Members of the Johnson family, including Abigail P. Johnson, are the predominant owners, directly or through trusts, of Series B voting common shares of FMR LLC, representing 49% of the voting power of FMR LLC. The Johnson family group and all other Series B shareholders have entered into a shareholders’ voting agreement under which all Series B voting common shares will be voted in accordance with the majority vote of Series B voting common shares. Accordingly, through their ownership of voting common shares and the execution of the shareholders’ voting agreement, members of the Johnson family may be deemed, under the Investment Company Act of 1940, to form a controlling group with respect to FMR LLC. Neither FMR LLC nor Abigail P. Johnson has the sole power to vote or direct the voting of the shares owned directly by the various investment companies registered under the Investment Company Act (“Fidelity Funds”) advised by Fidelity, which power resides with the Fidelity Funds’ Boards of Trustees. Fidelity carries out the voting of the shares under written guidelines established by the Fidelity Funds’ Boards of Trustees.

DELINQUENT SECTION 16(a) REPORTS

Section 16(a) of the Exchange Act, requires our officers, directors and persons who beneficially own more than ten percent of our Common Stockcommon stock that are exercisable within 60 days of April 14, 2023.

(7)
Consists of 20,325 shares of common stock and options to file reportspurchase 44,194 shares of ownershipour common stock that are exercisable within 60 days of April 14, 2023.
(8)
Consists of 3,452 shares of common stock and changes in ownership with the SEC. These reporting personsoptions to purchase 57,830 shares of our common stock that are also requiredexercisable within 60 days of April 14, 2023.
(9)
Consists of options to furnish us with copiespurchase 64,962 shares of all Section 16(a) forms they file.our common stock that are exercisable within 60 days of April 14, 2023.
(10)
Consists of options to purchase 7,000 shares of our common stock that are exercisable within 60 days of April 14, 2023.
(11)
Consists of options to purchase 16,650 shares of our common stock that are exercisable within 60 days of April 14, 2023.
(12)
Consists of options to purchase 7,000 shares of our common stock that are exercisable within 60 days of April 14, 2023.
(13)
Consists of options to purchase 7,000 shares of our common stock that are exercisable within 60 days of April 14, 2023.
(14)
Consists of options to purchase 94,946 shares of our common stock that are exercisable within 60 days of April 14, 2023.
(15)
Consists of 15,332 shares of common stock and options to purchase 103,402 shares of our common stock that are exercisable within 60 days of April 14, 2023.
(16)
Consists of options to purchase 28,791 shares of our common stock that are exercisable within 60 days of April 14, 2023.

42


REPORT OF THE AUDIT COMMITTEE

The Companyaudit committee is not awareappointed by the board of any late or delinquent filings required under Section 16(a)directors to assist the board of the Exchange Actdirectors in respect of the Company’s equity securities other than the following reports filed late due to administrative error, as previously disclosed in our quarterly report on Form 10-Q for the period ended March 31, 2021: a Form 3 which inadvertently omitted Foresite Capital Fund V, L.P and Foresite Capital Management V LLC as beneficial owners of 3,018,750 shares of Class B Common Stock of FSDC; a Form 3 for James (Jim) Tananbaum, which inadvertently omitted 3,018,750 shares of Class B Common Stock of FSDC; and a Form 4 of fs, Foresite Capital Fund V, L.P, Foresite Capital Management V LLC and James (Jim) Tananbaum which inadvertently omitted 441,500 shares of Class A Common Stock of FSDC.

HOUSEHOLDING OF PROXY MATERIALS

The SEC has adopted rules that permit companies and intermediaries (e.g., brokers) to satisfy the delivery requirements for proxy statements and annual reportsfulfilling its oversight responsibilities with respect to two or more stockholders sharing(1) the same address by delivering a single proxy statement addressed to those stockholders. Thisintegrity of Disc Medicine’s financial statements and financial reporting process which is commonly referred toand systems of internal controls regarding finance, accounting, and compliance with legal and regulatory requirements, (3) the qualifications, independence, and performance of Disc Medicine’s independent registered public accounting firm, (3) the performance of Disc Medicine’s internal audit function, if any, and (4) other matters as “householding,” potentially means extra convenience for stockholders and cost savings for companies.

This year, several brokers with account holders who are our stockholders will be “householding” our Proxy Materials. A single Notice of Internet Availability will be delivered to multiple stockholders sharing an address unless contrary instructions have been received fromset forth in the affected stockholders. Once you have received notice from your broker that they will be “householding” communications to your address, “householding” will continue until you are notified otherwise or until you revoke your consent. If, at any time, you no longer wish to participate in “householding” and would prefer to receive a separate Notice of Internet Availability, please notify your broker or the Company. Direct your written request to: Gemini Therapeutics, Inc., 300 One Kendall Square, 3rd Floor, Cambridge, MA 02139, Attention: Brian Piekos.

Stockholders who currently receive multiple copiescharter of the Noticeaudit committee approved by the board of Internet Availability at their addressesdirectors.

Management is responsible for the preparation of Disc Medicine’s financial statements and would like to request “householding”the financial reporting process, including its system of their communications should contact their brokers.

OTHER MATTERS

internal control over financial reporting and its disclosure controls and procedures. The Board knowsindependent registered public accounting firm is responsible for performing an audit of no business to be brought beforeDisc Medicine’s financial statements in accordance with the Annual Meeting which is not referred to in the accompanying Notice of Annual Meeting. Should any such matters be presented, the persons named in the proxy shall have the authority to take such action regarding such matters as in their judgment seems advisable. 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 Annual Meeting unless they receive instructions from you with respect to such matter.

A copystandards of the Company’s Annual Report on Form Public Company Accounting Oversight Board, or PCAOB, and issuing a report thereon. The audit committee’s responsibility is to monitor and oversee these processes.

10-KIn connection with these responsibilities, the audit committee reviewed and discussed with management and the independent registered public accounting firm the audited financial statements of Disc Medicine, Inc. for the fiscal year ended December 31, 2020 is available without charge2022. The audit committee also discussed with the independent registered public accounting firm the matters required to be discussed by the PCAOB’s Auditing Standard No. 1301, Communication with Audit Committees. In addition, the audit committee has received the written disclosures and the letter from the independent accountant required by applicable requirements of the PCAOB regarding the independent accountant’s communications with the audit committee concerning independence and has discussed with the independent accountant the independent accountant’s independence.

Based on the reviews and discussions referred to above, the audit committee recommended to the board of directors that the audited financial statements of Disc Medicine be included in Disc Medicine’s 2022 Annual Report, that was filed with the SEC. The information contained in this report shall not be deemed to be (1) “soliciting material,” (2) “filed” with the SEC, (3) subject to Regulations 14A or 14C of the Exchange Act, or (4) subject to the liabilities of Section 18 of the Exchange Act. This report shall not be deemed incorporated by reference into any of our other filings under the Exchange Act or the Securities Act, except to the extent that we specifically incorporate it by reference into such filing.

THE AUDIT COMMITTEE OF THE BOARD OF
DIRECTORS OF DISC MEDICINE, INC.

William White, Chairperson

Liam Ratcliffe

Mark Chin

HOUSEHOLDING

Some banks, brokers and other nominee record holders may be participating in the practice of “householding” proxy statements and annual reports. This means that only one copy of our documents, including the Annual Report to stockholders and proxy statement, may have been sent to multiple stockholders in your household. We will promptly deliver a separate copy of either document to you upon written or oral request to: Gemini Therapeutics,to Disc Medicine, Inc., 300 One Kendall Square, 3rd Floor, Cambridge, MA 02139,321 Arsenal Street, Suite 101, Watertown, Massachusetts 02472, Attention: Brian Piekos.

Corporate Secretary, telephone: (617) 674-9274. If you want to receive separate copies of the proxy statement or Annual Report to stockholders in the future, or if you are receiving multiple copies and would like to receive only one copy per household, you should contact your bank, broker or other nominee record holder, or you may contact us at the above address and phone number.

Annex 1STOCKHOLDER PROPOSALS

A stockholder who would like to have a proposal considered for inclusion in our 2024 proxy statement must submit the proposal in accordance with the procedures outlined in Rule 14a-8 of the Exchange Act so that it is received by us no later than December 26, 2023. However, if the date of the 2024 Annual Meeting of Stockholders is changed by more than 30 days from the date of the previous year’s meeting, then the deadline is a reasonable time before we begin

GEMINI THERAPEUTICS, INC.43


to print and send our proxy statement for the 2024 Annual Meeting of Stockholders. SEC rules set standards for eligibility and specify the types of stockholder proposals that may be excluded from a proxy statement. Stockholder proposals should be addressed to Disc Medicine, Inc., 321 Arsenal Street, Suite 101, Watertown, Massachusetts 02472, Attention: Corporate Secretary. We also encourage you to submit any such proposals via email to ir@discmedicine.com.

2021 EMPLOYEE STOCK PURCHASE PLANIf a stockholder wishes to propose a nomination of persons for election to our board of directors or present a proposal at an annual meeting but does not wish to have the proposal considered for inclusion in our proxy statement and proxy card, our bylaws establish an advance notice procedure for such nominations and proposals. Stockholders at an annual meeting may only consider proposals or nominations specified in the notice of meeting or brought before the meeting by or at the direction of the board of directors or by a stockholder of record on the record date for the meeting, who is entitled to vote at the meeting and who has delivered timely notice in proper form to our corporate secretary of the stockholder’s intention to bring such business before the meeting.

The purpose of the Gemini Therapeutics, Inc. 2021 Employee Stock Purchase Plan (the “Plan”) is to provide eligible employees of Gemini Therapeutics, Inc. (the “Company”)required notice must be in writing and each Designated Subsidiary (as defined in Section 11) with opportunities to purchase shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”). An aggregate of 430,551 shares of Common Stock have been approved and reserved for this purpose, plus on January 1, 2023 and each January 1 thereafter through January 1, 2031, the number of shares of Common Stock reserved and available for issuance under the Plan shall be automatically and cumulatively increasedreceived by an amount equal to the least of (i) one percent (1%) of the number of shares of Common Stock issued and outstanding on the immediately preceding December 31st, (ii) 430,551 shares of Common Stock and (iii) such number of shares of Common Stock as determined by the Administrator. Notwithstanding the foregoing, the Administrator may actour corporate secretary at our principal executive offices not less than 90 days nor more than 120 days prior to the first day of any calendar year to provide that there will be no January 1st increase in the share reserve for such calendar year.

The Plan includes two components: a Code Section 423 Component (the “423 Component”) and a non-Code Section 423 Component (the “Non- 423 Component”). It is intended for the 423 Component to constitute an “employee stock purchase plan” within the meaning of Section 423(b) of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), and the 423 Component shall be interpreted in accordance with that intent. Under the Non-423 Component, which does not qualify as an “employee stock purchase plan” within the meaning of Section 423(b) of the Code, options will be granted pursuant to rules, procedures or sub-plans adopted by the Administrator designed to achieve tax, securities laws or other objectives for eligible employees. Except as otherwise provided herein, the Non-423 Component will operate and be administered in the same manner as the 423 Component.

Unless otherwise defined herein, capitalized terms in this Plan shall have the meanings ascribed to them in Section 11.

1. Administration. The Plan will be administered by the person or persons (the “Administrator”) appointed by the Company’s Board of Directors (the “Board”) for such purpose. The Administrator has authority at any time to: (i) adopt, alter and repeal such rules, guidelines and practices for the administration of the Plan and for its own acts and proceedings as it shall deem advisable; (ii) interpret the terms and provisions of the Plan; (iii) make all determinations it deems advisable for the administration of the Plan; (iv) decide all disputes arising in connection with the Plan; and (v) otherwise supervise the administration of the Plan. All interpretations and decisions of the Administrator shall be binding on all persons, including the Company and the Participants. No member of the Board or individual exercising administrative authority with respect to the Plan shall be liable for any action or determination made in good faith with respect to the Plan or any option granted hereunder.

2. Offerings. The Company may make one or more offerings to eligible employees to purchase Common Stock under the Plan (“Offerings”). The initial Offering will begin and end on dates to be determined by the Administrator. Thereafter, unless otherwise determined by the Administrator, an Offering will begin on the first business day occurring on or after each June 1 and December 1 and will end on the last business day occurring on or before the following May 31 and November 30, respectively. The Administrator may, in its discretion, designate a different period for any Offering, provided that no Offering shall exceed twenty-seven (27) months in duration or overlap any other Offering.

3. Eligibility. All individuals classified as employees on the payroll records of the Company and each Designated Subsidiary are eligible to participate in any one or more of the Offerings under the Plan, provided that as of the first day of the applicable Offering (the “Offering Date”) they are customarily employed by the Company or a Designated Subsidiary. Notwithstanding any other provision herein, individuals who are not contemporaneously classified as employees of the Company or a Designated Subsidiary for purposes of the Company’s or applicable Designated Subsidiary’s payroll system are not considered to be eligible employees of the Company or any Designated Subsidiary and shall not be eligible to participate in the Plan. In the event any such individuals are reclassified as employees of the Company or a Designated Subsidiary for any purpose, including, without limitation,

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common law or statutory employees, by any action of any third party, including, without limitation, any government agency, or as a result of any private lawsuit, action or administrative proceeding, such individuals shall, notwithstanding such reclassification, remain ineligible for participation. Notwithstanding the foregoing, the exclusive means for individuals who are not contemporaneously classified as employees of the Company or a Designated Subsidiary on the Company’s or Designated Subsidiary’s payroll system to become eligible to participate in this Plan is through an amendment to this Plan, duly executed by the Company, which specifically renders such individuals eligible to participate herein.

4. Participation.

(a) Participants. An eligible employee who is not a Participant in any prior Offering may participate in a subsequent Offering by submitting an enrollment form to his or her appropriate payroll location at least fifteen (15) business days before the Offering Date (or by such other deadline as shall be established by the Administrator for the Offering).

(b) Enrollment. The enrollment form will (a) state a whole percentage or amount to be deducted from an eligible employee’s Compensation (as defined in Section 11) per pay period, (b) authorize the purchase of Common Stock in each Offering in accordance with the terms of the Plan and (c) specify the exact name or names in which shares of Common Stock purchased for such individual are to be issued pursuant to Section 10. An employee who does not enroll in accordance with these procedures will be deemed to have waived the right to participate. Unless a Participant files a new enrollment form or withdraws from the Plan, such Participant’s deductions and purchases will continue at the same percentage or amount of Compensation for future Offerings, provided he or she remains eligible.

(c) Notwithstanding the foregoing, participation in the Plan will neither be permitted nor be denied contrary to the requirements of the Code.

5. Employee Contributions. Each eligible employee may authorize payroll deductions at a minimum of one percent (1%) up to a maximum of fifteen percent (15%) of such employee’s Compensation for each pay period. The Company will maintain book accounts showing the amount of payroll deductions made by each Participant for each Offering. No interest will accrue or be paid on payroll deductions.

6. Deduction Changes. Except as may be determined by the Administrator in advance of an Offering, a Participant may not increase or decrease his or her payroll deduction during any Offering, but may increase or decrease his or her payroll deduction with respect to the next Offering (subject to the limitations of Section 5) by filing a new enrollment form at least fifteen (15) business days before the next Offering Date (or by such other deadline as shall be established by the Administrator for the Offering). The Administrator may, in advance of any Offering, establish rules permitting a Participant to increase, decrease or terminate his or her payroll deduction during an Offering.

7. Withdrawal. A Participant may withdraw from participation in the Plan by delivering a written notice of withdrawal to his or her appropriate payroll location. The Participant’s withdrawal will be effective as of the next business day. Following a Participant’s withdrawal, the Company will promptly refund such individual’s entire account balance under the Plan to him or her (after payment for any Common Stock purchased before the effective date of withdrawal). Partial withdrawals are not permitted. Such an employee may not begin participation again during the remainder of the Offering, but may enroll in a subsequent Offering in accordance with Section 4.

8. Grant of Options. On each Offering Date, the Company will grant to each eligible employee who is then a Participant in the Plan an option (“Option”) to purchase on the last day of such Offering (the “Exercise Date”), at the Option Price hereinafter provided for, the lowest of (a) a number of shares of Common Stock determined by dividing such Participant’s accumulated payroll deductions on such Exercise Date by the Option Price (as defined herein), (b) the number of shares determined by dividing $25,000 by the Fair Market Value of the Common Stock on the Offering Date for such Offering; or (c) such other lesser maximum number of shares as shall have been established by the Administrator in advance of the Offering; provided, however, that such Option shall be subject to the limitations set forth below. Each Participant’s Option shall be exercisable only to the extent of such Participant’s accumulated payroll deductions on the Exercise Date. The purchase price for each share purchased under each Option (the “Option Price”) will be eighty-five percent (85%) of the Fair Market Value of the Common Stock on the Offering Date or the Exercise Date, whichever is less.

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Notwithstanding the foregoing, no Participant may be granted an Option hereunder if such Participant, immediately after the Option was granted, would be treated as owning stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or any Parent or Subsidiary (as defined in Section 11). For purposesanniversary of the preceding sentence, the attribution rules of Section 424(d) of the Code shall apply in determining the stock ownership of a Participant, and all stock which the Participant has a contractual right to purchase shall be treated as stock owned by the Participant. In addition, no Participant may be granted an Option which permits such Participant rights to purchase stock under the Plan, and any other employee stock purchase plan of the Company and its Parents and Subsidiaries, to accrue at a rate which exceeds $25,000 of the fair market value of such stock (determined on the Option grant date or dates) for each calendar year in which the Option is outstanding at any time. The purpose of the limitationyear’s annual meeting. However, in the preceding sentence is to comply with Section 423(b)(8) of the Code and shall be applied taking Options into account in the order in which they were granted.

9. Exercise of Option and Purchase of Shares. Each employee who continues to be a Participant in the Plan on the Exercise Date shall be deemed to have exercised his or her Option on such date and shall acquire from the Company such number of whole shares of Common Stock reserved for the purpose of the Plan as his or her accumulated payroll deductions on such date will purchase at the Option Price, subject to any other limitations contained in the Plan. Any amount remaining in a Participant’s account at the end of an Offering solely by reason of the inability to purchase a fractional share will be carried forward to the next Offering; any other balance remaining in a Participant’s account at the end of an Offering will be refunded to the Participant promptly.

10. Issuance of Certificates. Certificates or book-entries at the Company’s transfer agent representing shares of Common Stock purchased under the Plan may be issued only in the name of the employee, in the name of the employee and another person of legal age as joint tenants with rights of survivorship, or in the name of a broker authorized by the employee to be his, her or their nominee for such purpose

11. Definitions.

The term “Compensation” means the regular or basic rate of compensation.

The term “Designated Subsidiary” means any present or future Subsidiary (as defined below)event that has been designated by the Administrator to participate in the Plan. The Administrator may so designate any Subsidiary, or revoke any such designation, at any time and from time to time, either before or after the Plan is approved by the stockholders, and may further designate such companies or Participants as participating in the 423 Component or the Non-423 Component. The Administrator may also determine which Subsidiaries or eligible employees may be excluded from participation in the Plan, to the extent consistent with Section 423 of the Code or as implemented under the Non-423 Component, and determine which Designated Subsidiary or Subsidiaries will participate in separate Offerings (to the extent that the Company makes separate Offerings). For purposes of the 423 Component, only the Company and its Subsidiaries may be Designated Subsidiaries; provided, however, that at any given time, a Subsidiary that is a Designated Subsidiary under the 423 Component will not be a Designated Subsidiary under the Non-423 Component. The current list of Designated Subsidiaries is attached hereto as Appendix A.

The term “Fair Market Value of the Common Stock” on any given date means the fair market value of the Common Stock determined in good faith by the Administrator; provided, however, that if the Common Stock is admitted to quotation on the National Association of Securities Dealers Automated Quotation System (“NASDAQ”), the NASDAQ Global Market, The New York Stock Exchange or another national securities exchange, the determination shall be made by reference to the closing price on such date. If there is no closing price for such date, the determination shall be made by reference to the last date preceding such date for which there is a closing price.

The term “Parent” means a “parent corporation” with respect to the Company, as defined in Section 424(e) of the Code.

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The term “Participant” means an individual who is eligible as determined in Section 3 and who has complied with the provisions of Section 4.

The term “Subsidiary” means a “subsidiary corporation” with respect to the Company, as defined in Section 424(f) of the Code.

12. Rights on Termination of Employment. If a Participant’s employment terminates for any reason before the Exercise Date for any Offering, no payroll deduction will be taken from any pay due and owing to the Participant and the balance in the Participant’s account will be paid to such Participant or, in the case of such Participant’s death, to his or her designated beneficiary as if such Participant had withdrawn from the Plan under Section 7. An employee will be deemed to have terminated employment, for this purpose, if the corporation that employs the Participant, having been a Designated Subsidiary, ceases to be a Subsidiary, or if the employee is transferred to any corporation other than the Company or a Designated Subsidiary provided, however, that if a Participant transfers from an Offering under the 423 Component to an Offering under the Non-423 Component, the exercise of the Participant’s Option will be qualified under the 423 Component only to the extent that such exercise complies with Section 423 of the Code. If a Participant transfers from an Offering under the Non-423 Component to an Offering under the 423 Component, the exercise of the Participant’s Option will remain non-qualified under the Non-423 Component. An employee will not be deemed to have terminated employment for this purpose if the employee is on an approved leave of absence for military service or sickness or for any other purpose approved by the Company, if the employee’s right to reemployment is guaranteed either by a statute or by contract or under the policy pursuant to which the leave of absence was granted or if the Administrator otherwise provides in writing.

13. Special Rules and Sub-Plans. Notwithstanding anything herein to the contrary, the Administrator may adopt special rules applicable to the employees of a particular Designated Subsidiary whenever the Administrator determines that such rules are necessary or appropriate for the implementation of the Plan in a jurisdiction where such Designated Subsidiary has employees; provided that if such special rules are inconsistent with the requirements of Section 423(b) of the Code, the employees subject to such special rules or sub-plans will participate in the Non- 423 Component. Any special rules or sub-plans established pursuant to this Section 13 shall, to the extent possible, result in the employees subject to such rules having substantially the same rights as other Participants in the Plan.

14. Optionees Not Stockholders. Neither the granting of an Option to a Participant nor the deductions from his or her pay shall constitute such Participant a holder of the shares of Common Stock covered by an Option under the Plan until such shares have been purchased by and issued to the Participant.

15. Rights Not Transferable. Rights under the Plan are not transferable by a Participant other than by will or the laws of descent and distribution, and are exercisable during the Participant’s lifetime only by the Participant.

16. Application of Funds. All funds received or held by the Company under the Plan may be combined with other corporate funds and may be used for any corporate purpose.

17. Adjustment in Case of Changes Affecting Common Stock. In the event of a subdivision of outstanding shares of Common Stock, the payment of a dividend in Common Stock or any other change affecting the Common Stock, the number of shares approved for the Plan and any other share limitations in the Plan shall be equitably or proportionately adjusted to give proper effect to such event.

18. Amendment of the Plan. The Board may at any time and from time to time amend the Plan in any respect, except that without the approval within twelve (12) months of such Board action by the stockholders, no amendment shall be made increasing the number of shares approved for the Plan or making any other change that would require stockholder approval in order for the 423 Component of the Plan, as amended, to qualify as an “ employee stock purchase plan” under Section 423(b) of the Code.

19. Insufficient Shares. If the total number of shares of Common Stock that would otherwise be purchased on any Exercise Date plus the number of shares purchased under previous Offerings under the Plan exceeds the maximum number of shares issuable under the Plan, the shares then available shall be apportioned among Participants in proportion to the amount of payroll deductions accumulated on behalf of each Participant that would otherwise be used to purchase Common Stock on such Exercise Date.

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20. Termination of the Plan. The Plan may be terminated at any time by the Board. Upon termination of the Plan, all amounts in the accounts of Participants shall be promptly refunded.

21. Governmental Regulations. The Company’s obligation to sell and deliver Common Stock under the Plan is subject to obtaining all governmental approvals required in connection with the authorization, issuance, or sale of such stock.

22. Governing Law. This Plan and all Options and actions taken thereunder shall be governed by, and construed in accordance with the General Corporation Law of the State of Delaware as to matters within the scope thereof, and as to all other matters shall be governed by and construed in accordance with the internal laws of the Commonwealth of Massachusetts applied without regard to conflict of law principles.

23. Issuance of Shares. Shares may be issued upon exercise of an Option from authorized but unissued Common Stock, from shares held in the treasury of the Company, or from any other proper source.

24. Tax Withholding. Participation in the Plan is subject to any required tax withholding on income of the Participant in connection with the Plan. Each Participant agrees, by entering the Plan, that the Company and its Subsidiaries shall have the right to deduct any such taxes from any payment of any kind otherwise due to the Participant, including shares issuable under the Plan.

25. Notification Upon Sale of Shares Under the 423 Component. Each Participant agrees, by entering the 423 Component of the Plan, to give the Company prompt notice of any disposition of shares purchased under the Plan where such disposition occurs within two (2) years after the date of grantthe annual meeting is advanced by more than 30 days, or delayed by more than 60 days, from the first anniversary of the Option pursuantpreceding year’s annual meeting, a stockholder’s notice must be so received no earlier than the 120th day prior to which such shares were purchased or within one (1) year afterannual meeting and not later than the date such shares were purchased.

26. Effective Date and Approvalclose of Stockholders. The Plan shall take effectbusiness on the later of (A) the 90th day prior to such annual meeting and (B) the tenth day following the day on which notice of the date it is adoptedof such annual meeting was mailed or public disclosure of the date of such annual meeting was made, whichever first occurs. For stockholder proposals to be brought before the 2024 Annual Meeting of Stockholders, the required notice must be received by our corporate secretary at our principal executive offices no earlier than February 10, 2024 and no later than March 11, 2024. In addition, to comply with the universal proxy rules, stockholders who intend to solicit proxies in support of director nominees other than our nominees must provide notice by the Boardsame deadline noted herein to submit a notice of nomination for consideration at the 2024 Annual Meeting of Stockholders. Such notice must comply with the additional requirements of Rule 14a-19(b). Stockholder proposals and the required notice should be addressed to Disc Medicine, Inc., 321 Arsenal Street, Suite 101, Watertown, Massachusetts 02472, Attention: Corporate Secretary.

OTHER MATTERS

Our board of directors is not aware of any other matters to be brought before the Annual Meeting. If any other matters not mentioned in this proxy statement are properly brought before the meeting, the individuals named in the enclosed proxy intend to use their discretionary voting authority under the proxy to vote the proxy in accordance with their best judgment on those matters.


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Signature [please sign within box] date itsignature (joint owners) date to vote, mark blocks below in blue or black ink as follows: keep this portion for your records this proxy card is approvedvalid only when signed and dated. Detach and return this portion only v09869-p92820 ! ! ! For all withhold all for all except for against abstain ! ! ! Disc medicine, inc. To withhold authority to vote for any individual nominee(s), mark "for all except" and write the number(s) of the nominee(s) on the line below. Disc medicine, inc. 321 arsenal street, suite 101 watertown, ma 02472 01) georges gemayel 02) mark chin 03) liam ratcliffe 04) donald nicholson 05) william white 06) john quisel vote on directors class ii nominees: class iii nominees: vote on proposal please sign exactly as your name(s) appear(s) hereon. When signing as attorney, executor, administrator, or other fiduciary, please give full title as such. Joint owners should each sign personally. All holders must sign. If a corporation or partnership, please sign in full corporate or partnership name by authorized officer. Note: to transact any other business properly brought before the annual meeting or any adjournment or postponement thereof. 1. Election of directors the board of directors recommend a vote “for” items 1 and 2. The shares represented by this proxy when properly executed will be voted in the manner directed herein by the holdersundersigned stockholder(s). If no direction is made, this proxy will be voted for items 1 and 2. 2. To ratify the appointment of a majority ofernst & young llp as the votes cast at acompany’s independent registered public accounting firm for the fiscal year ending december 31, 2023. Vote by internet before the meeting of stockholders at which a quorum is present.

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APPENDIX A

Designated Subsidiaries

Gemini Therapeutics Sub, Inc.

LOGO

300 ONE KENDALL SQUARE, 3RD FLOOR CAMBRIDGE, MA 02139
VOTE BY INTERNET
Before The Meeting - Gogo to www.proxyvote.com
Use or scan the Internetqr barcode above use the internet to transmit your voting instructions and for electronic delivery of information up until 11:59 p.m. Eastern Time the day before the cut-off date or meeting date.time on june 8, 2023. Have your proxy card in hand when you access the web site and follow the instructions to obtain your records and to create an electronic voting instruction form.
During The Meetingthe meeting - Gogo to www.virtualshareholdermeeting.com/GMTX2021
Youiron2023 you may attend the meeting via the Internetinternet and vote during the meeting. Have the information that is printed in the box marked by the arrow available and follow the instructions.
VOTE BY PHONE Vote by phone - 1-800-690-6903
Use use any touch-tone telephone to transmit your voting instructions up until 11:59 p.m. Eastern Time the day before the cut-off date or meeting date.time on june 8, 2023. Have your proxy card in hand when you call and then follow the instructions.
VOTE BY MAIL
Mark, Vote by mail mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing,vote processing, c/o Broadridge,broadridge, 51 Mercedes Way, Edgewood, NYmercedes way, edgewood, ny 11717. Scan to view materials & vote w


TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:
D58260-P59992
KEEP THIS PORTION FOR YOUR RECORDS
THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.
DETACH AND RETURN THIS PORTION ONLY

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LOGO

Important Notice RegardingV09870-p92820 important notice regarding the Availabilityavailability of Proxy Materialsproxy materials for the Annual Meeting:
The Proxy Statementannual meeting: the 10-k and Form 10-Knps are available at www.proxyvote.com.

D58261-P59992

GEMINI THERAPEUTICS, INC. ANNUAL MEETING OF STOCKHOLDERS

THIS PROXY IS SOLICITED BY THE BOARD OF DIRECTORS

The stockholder(s) Disc medicine, inc. Annual meeting of stockholders june 9, 2023, 9:00 am, edt this proxy is solicited by the board of directors the stockholders hereby appoint(s) Jason Meyenburgappoint john quisel and rahul khara, or either of them, as proxy,proxies, each with the power to appoint his substitute, and hereby authorize(s) himauthorizes them to represent and to vote, as designated on the reverse side of this ballot, all of the shares of Common Stockcommon stock of Gemini Therapeutics, Inc. thatdisc medicine, inc. That the stockholder(s) is/stockholders are entitled to vote at the Annual Meetingannual meeting of Stockholdersstockholders to be held virtually at 10:9:00 A.M. Eastern Timea.m., eastern time on September 29, 2021 to be held entirely onlinejune 9, 2023, at www.virtualshareholdermeeting.com/GMTX2021,iron2023, and any adjournment or postponement thereof.
THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED AS DIRECTED BY THE STOCKHOLDER(S). IF NO SUCH DIRECTIONS ARE MADE, THIS PROXY WILL BE VOTED “FOR” THE ELECTION OF THE NOMINEE LISTED ON THE REVERSE SIDE FOR THE BOARD OF DIRECTORS AND “FOR” EACH PROPOSAL. This proxy, when properly executed, will be voted as directed by the stockholder. If no such directions are made, this proxy will be voted for the election of the nominees listed on the reverse side for the board of directors and for each proposal. Please mark, sign, date and return this proxy card promptly using the enclosed reply envelope continued and to be signed on reverse side

PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY CARD PROMPTLY USING THE ENCLOSED REPLY ENVELOPE.
CONTINUED AND TO BE SIGNED ON REVERSE SIDE46