DEF: ALX Oncology Holdings Inc. Announces Details for 2025 Annual Stockholders Meeting

ALX Oncology Holdings Inc. will hold its 2025 Annual Meeting of Stockholders virtually on June 11, 2025, to elect directors, conduct an advisory vote on executive compensation, and ratify the appointment of KPMG LLP as its independent accounting firm.

Summary

• ALX Oncology Holdings Inc. is holding its 2025 Annual Meeting of Stockholders on June 11, 2025, at 1:00 p.m. Pacific Time, via a live webcast.
• Stockholders will vote on the election of two Class II directors, an advisory vote on executive compensation, and the ratification of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
• The record date for determining stockholders eligible to vote is April 15, 2025.
• The board of directors recommends voting FOR the election of Scott Garland and Barbara Klencke, M.D., as Class II directors.
• The board recommends voting FOR the advisory vote on executive compensation and FOR the ratification of KPMG LLP.
• The proxy statement and Annual Report are available on the company's investor relations website on or about April 21, 2025.
• As of the Record Date, there were 53,395,770 shares of common stock outstanding and entitled to vote.

Sentiment

Score: 7

Explanation: The document is primarily informational, outlining the details of the upcoming annual meeting and related proposals. The tone is professional and positive, expressing gratitude for stockholder support and highlighting the company's commitment to ethical practices and employee development.

Positives

• The company is committed to ethical, responsible, and sustainable business practices.
• The company strives to provide competitive and robust compensation and benefits programs.
• The company emphasizes employee development and training.
• In 2024, our stockholders approved the say-on-pay vote with 97% of the shares of our common stock present and entitled to vote in support of our named executive officer compensation as disclosed in our 2024 proxy statement.

Risks

• The classification of the board of directors may have the effect of delaying or preventing changes in control of the company.
• The competition for talent in our industry and in the San Francisco Bay Area, where our headquarters is located, is significant.

Future Outlook

The company intends to submit the executive compensation of its named executive officers to an advisory vote at its annual meeting of stockholders each year until such time as the say-when-on-pay proposal is brought before our stockholders again.

Management Comments

• On behalf of the Companys Board of Directors, we would like to thank you for your continued support of and interest in ALX.
• Our board of directors believes that a virtual Annual Meeting allows for participation by a broader group of stockholders, reduces the costs to stockholders associated with holding an in-person meeting, and is the best option for ensuring the health and safety of the participants.

Industry Context

The document does not provide explicit details on how this announcement relates to broader industry trends or competitors, but the company's commitment to ethical practices, competitive pay, and employee development aligns with general trends in the biotechnology industry.

Comparison to Industry Standards

• The document does not provide specific details for comparison to industry standards.
• The document mentions that the Outside Director Compensation Policy is reviewed periodically with input from an independent compensation consultant, Compensia, regarding practices and compensation levels at comparable companies.

Management Changes

Corporate Governance

Related Party Transactions

• Dr. Jaume Pons, our former President and Chief Scientific Officer, entered into a consulting agreement with venBio, one of our stockholders and an affiliate of one of our directors, Dr. Corey Goodman.
• In July 2020, we assigned to Tallac Therapeutics our lease with respect to our premises located at 866 Malcolm Road, Burlingame, California 94010, and received a sublease for such premises from Tallac Therapeutics.
• In July 2020, we also entered into a research and development services agreement, or the Tallac Services Agreement, with Tallac Therapeutics.
• In March 2021, we entered into a Collaboration Agreement with Tallac Therapeutics pursuant to which we expect to jointly develop, manufacture, and commercialize a novel class of cancer immunotherapeutics.
• During the year ended December 31, 2024, the Company made its first milestone payment of $1.0 million to the stockholders of ScalmiBio, including 31.7%, or $0.3 million, to Dr. Pons.

Stakeholder Impact

• Shareholders are invited to participate in the virtual Annual Meeting and vote on key proposals.
• Employees are impacted by the company's commitment to ethical practices, competitive pay, and employee development.
• Executive officers are impacted by the company's compensation policies and severance agreements.

Next Steps

• Stockholders are urged to promptly vote and submit their proxy via the Internet, by phone, or by signing, dating and returning the enclosed proxy card.
• The company will announce preliminary voting results at the Annual Meeting.
• The company will disclose final voting results on a Current Report on Form 8-K that it expects to file within four business days after the Annual Meeting.

Key Dates

Keywords

Annual Meeting, Proxy Statement, Stockholders, Directors, Executive Compensation, KPMG, Voting, ALX Oncology