DEF 14A: ORIC Pharmaceuticals Sets Date for 2024 Annual Stockholders Meeting

ORIC Pharmaceuticals announces its 2024 Annual Meeting of Stockholders to be held virtually on June 12, 2024, to elect directors and ratify the appointment of its independent accounting firm.

Summary

• ORIC Pharmaceuticals will hold its 2024 Annual Meeting of Stockholders on June 12, 2024, at 8:00 a.m. Pacific Time, in a virtual format.
• The meeting will address the election of two Class I directors to serve until the 2027 annual meeting and the ratification of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
• Stockholders of record as of April 17, 2024, are entitled to vote.
• The board of directors recommends voting FOR the election of Richard Heyman, Ph.D., and Lori Kunkel, M.D., as Class I directors and FOR the ratification of KPMG LLP's appointment.
• The proxy statement and annual report are available online at www.proxydocs.com/ORIC, with materials being made available on or about April 24, 2024.

Sentiment

Score: 7

Explanation: The document is a standard corporate communication, presenting factual information in a neutral tone. The positive score reflects the routine nature of the announcement and the company's adherence to corporate governance best practices.

Positives

• The annual meeting will be held virtually, providing accessibility to all stockholders regardless of location.
• The board of directors has made clear recommendations on how to vote, providing guidance to stockholders.
• The company provides multiple methods for stockholders to vote, including online, by phone, and by mail.
• The company is using a notice and access model to reduce the environmental impact of the annual meeting.

Future Outlook

The board of directors does not know of any other matters to be presented at the Annual Meeting. If any additional matters are properly presented at the Annual Meeting, the persons named in the enclosed proxy card will have discretion to vote the shares of our common stock they represent in accordance with their own judgment on such matters.

Management Comments

• Jacob M. Chacko, M.D., President and Chief Executive Officer, thanks stockholders for their continued support.
• The board of directors believes that separation of the positions of Chairman and Chief Executive Officer reinforces the independence of the board of directors from management, creates an environment that encourages objective oversight of managements performance and enhances the effectiveness of the board of directors as a whole.

Industry Context

This announcement is a standard part of corporate governance for publicly traded companies, ensuring stockholders have the opportunity to participate in key decisions regarding the company's direction and oversight.

Comparison to Industry Standards

• Holding annual meetings and soliciting proxies are standard practices for publicly traded companies like ORIC Pharmaceuticals.
• The virtual format of the meeting aligns with a growing trend among companies to increase accessibility and reduce costs.
• The director compensation policy is benchmarked against a peer group of comparable companies, using data from Radford, an independent compensation consulting firm.
• The company's corporate governance practices, including the establishment of audit, compensation, and nominating committees, are consistent with Nasdaq listing requirements and SEC regulations.
• The company's clawback policy is in accordance with the SEC and Nasdaq requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Related Party Transactions

• The audit committee has the primary responsibility for reviewing and approving or disapproving related party transactions.
• The company has entered into indemnification agreements with each of its directors and executive officers.

Stakeholder Impact

• Stockholders have the opportunity to vote on key decisions, influencing the company's direction.
• The company's corporate governance practices aim to protect the interests of all stakeholders.
• Executive compensation is designed to attract, retain, and reward senior-level employees.

Next Steps

• Stockholders are urged to vote their shares via the Internet, by phone, or by signing, dating, and returning the enclosed proxy card.
• Stockholders can attend the Annual Meeting virtually by visiting www.proxydocs.com/ORIC to listen to the meeting live, submit questions, and vote online.

Key Dates

Keywords

annual meeting, proxy statement, stockholders, directors, KPMG, voting, corporate governance, ORIC Pharmaceuticals