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Item 9A. Controls and Procedures

2023-03-29 compared with 2022-03-17 · 71 added, 70 removed, 97 unchanged (59% of the section changed)

1 unchanged sentence

Evaluation of Disclosure Controls and Procedures.

We maintain disclosure controls and procedures that are designed to provide reasonable assurance that information required to be disclosed in our Company’s reports under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

We maintain disclosure controls and procedures that are designed to provide reasonable assurance that information required to be disclosed in our Company’s reports under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to management, including our Interim Chief Executive Officer and President, and Chief Financial Officer, to allow timely decisions regarding required disclosure.

In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.

Management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.

In connection with the preparation of this Annual Report for the year ended December 31, 2021, an evaluation was performed under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of December 31, 2021.

Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded based upon the evaluation described above that, as of December 31, 2021, our disclosure controls and procedures were effective at the reasonable assurance level.

In connection with the preparation of this Annual Report for the year ended December 31, 2022 , an evaluation was performed under the supervision and with the participation of our management, including our Interim Chief Executive Officer and President, and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of December 31, 2022 .

Based on that evaluation, our Interim Chief Executive Officer and President, and Chief Financial Officer has concluded based upon the evaluation described above that, as of December 31, 2022 , our disclosure controls and procedures were effective at the reasonable assurance level.

Management’s Report on Internal Control over Financial Reporting

7 unchanged sentences

Because of its inherent limitations, internal control over financial reporting is not intended to provide absolute assurance that a misstatement of our consolidated financial statements would be prevented or detected.

Management conducted an evaluation of the effectiveness, as of December 31, 2021, of our internal control over financial reporting based on the framework in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013.

Under the supervision of and with the participation of our principal executive and financial officer, our management conducted an evaluation of the effectiveness, as of December 31, 2022 , of our internal control over financial reporting based on the framework in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013.

Based on this evaluation, management concluded that our internal control over financial reporting was effective as of December 31, 2022 .

6 unchanged sentences

The other information required by this item is omitted from this Annual Report on Form 10-K and is incorporated herein by reference from our definitive proxy statement relating to our 2023 Annual Meeting of Stockholders (the “Definitive Proxy Statement”).

Code of Ethics

Code of Business Conduct and Ethics

We have adopted a code of business conduct and ethics that applies to all of our employees, officers and directors, including those officers responsible for financial reporting.

1 unchanged sentence

We intend to disclose any amendments to the code, or any waivers of its requirements, on our website, or in a current report on Form 8-K as may be required by law.

Amended and Restated Bylaws

As disclosed under Item 5.03 of our Current Report on Form 8-K filed with the SEC on December 7, 2022, on December 6, 2022, our Board of Directors, upon recommendation of the Nominating and Corporate Governance Committee of the Board, amended and restated our amended and restated bylaws, effective immediately.

The bylaws were amended and restated, among other things, to:

• revise the procedures and requirements for the nomination of directors and the submission of proposals for consideration at meetings of stockholders, including by adding a requirement that a stockholder seeking to nominate director(s) at a meeting of stockholders deliver to the Company reasonable evidence that it has complied with the requirements of Rule 14a-19 of the Exchange Act no later than five business days before the meeting;

• revise certain additional procedures related to stockholder meetings to conform to the provisions of the Delaware General Corporation Law, as recently amended (the “DGCL”);

• update various provisions regarding directors, Board committees and officers;

• make various updates throughout to conform to current Delaware law (including the recent amendments to the DGCL) and to make ministerial changes, clarifications, and other conforming revisions.

The foregoing description is qualified in its entirety by reference to the Amended and Restated Bylaws, a copy of which was filed as Exhibit 3.1 to our Form 8-K filed on December 7, 2022 and is incorporated herein by reference.

Executive Compensation

9 unchanged sentences

The consolidated financial statements required by this item are submitted in a separate section beginning on page 117 of this Annual Report.

(a)(2).Financial Statement Schedules.

All schedules have been omitted because the information required to be set forth therein is not applicable or is shown in the financial statements or notes thereto.

(a)(3) Exhibits.

2 unchanged sentences

Exhibit Index

Number Description

2.1 Agreement and Plan of Merger, dated May 16, 2021, by and among the registrant, Aadi Bioscience, Inc.

1 unchanged sentence

(incorporated by reference to Exhibit 2.1 to the Registrant’s Current Report on Form 8-K (File No.

001-38560) filed with the SEC on May 17, 2021).

00 1-38560) f iled with the SEC on May 17, 2021).

3.1 Amended and Restated Certificate of Incorporation of the Company (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K (File No.

001-38560) filed with the SEC on August 27, 2021).

Amended and Restated Bylaws of the Company (incorporated by reference to Exhibit 3.2 to the Registrant’s Current Report on Form 8-K (File No.

001-38560) filed with the SEC on August 27, 2021).

Description of common stock

Contingent Value Rights Agreement dated August 26, 2021, by and between Aerpio Pharmaceuticals, Inc., Cheryl Cohen, as Holder Representative, and American Stock Transfer & Trust Company, LLC, as Rights Agent (incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K (File No.

001-38560) filed with the SEC on August 27, 2021).

Subscription Agreement, dated May 16, 2021, by and among Aerpio Pharmaceuticals, Inc.

and each purchaser identified on Exhibit A thereto (incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K (File No.

001-38560) filed with the SEC on May 17, 2021.

3.2 Amended and Restated Bylaws of the Company (incorporated by reference to Exhibit 3.

1 to the Registrant’s Current Report on Form 8-K (File No.

001-38560) filed with the SEC on December 7 , 2022 ).

4.1* Description of Registrant's Capital Stock.

4.2 Form of Pre-Funded Warrant (incorporated by reference to Exhibit 4.1 to the Registrant's Current Report on Form 8-K (File No.

001-38560) filed with the SEC on September 22, 2022).

10.1 Form of Securities Purchase Agreement, dated September 22, 2022, by and among the Company and the Purchasers (incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K (File No.

001-38560) filed with the SEC on September 22, 2022).

10.2 Form of Registration Rights Agreement, dated September 22, 2022, by and among the Company and the Purchasers (incorporated by reference to Exhibit 10.2 to the Registrant's Current Report on Form 8-K (File No.

001-38560) filed with the SEC on September 22, 2022).

10.3 Registration Rights Agreement dated August 26, 2021, by and between Aadi Bioscience, Inc.

1 unchanged sentence

001-38560) filed with the SEC on August 27, 2021).

Amended and Restated Employment Agreement, dated August 26, 2021, by and between Aadi Bioscience, Inc.

10.4*# Amended and Restated Employment Agreement, dated November 8, 2022 , by and between Aadi Bioscience, Inc.

and Neil Desai, Ph.D.

(incorporated by reference to Exhibit 10.4 to the Registrant’s Current Report on Form 8-K (File No.

001-38560) filed with the SEC on August 27, 2021).

10.5# Executive Employment Agreement, dated October 28, 2021, by and between Aadi Bioscience, Inc.

17 unchanged sentences

001-38560) filed with the SEC on August 27, 2021).

Asset Purchase Agreement dated August 17, 2021, by and between Aerpio Pharmaceuticals, Inc.

and EyePoint Pharmaceuticals, Inc.

(incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K (File No.

001-38560) filed with the SEC on August 23, 2021).

10.13+ Amended and Restated License Agreement by and between Abraxis BioScience, LLC and Aadi Bioscience, Inc.

3 unchanged sentences

1 to the Amended and Restated License Agreement between Abraxis BioScience, LLC and Aadi Bioscience, Inc.

Amended and Restated License Agreement by and between Abraxis BioScience LLC and Aadi Bioscience, Inc.

dated November 15, 2019 (incorporated by reference to Exhibit 10.14 to the Registrant’s Quarterly Report on Form 10-Q (File No.

dated August 30, 2021 (incorporated by reference to Exhibit 10.14 to the Registrant’s Quarterly Report on Form 10-Q (File No.

001-38560) filed with the SEC on November 10, 2021) .

10.15* Office Lease dated April 19, 2019 by and between BRE Sunset Coast, LLC and Aadi Bioscience, Inc.

10.16 First Amendment to Office Lease dated August 30, 2021 by and between BRE Sunset Coast, LLC and Aadi Bioscience, Inc.

1 unchanged sentence

001-38560) filed with the SEC on November 10, 2021).

Employment Agreement dated September 14, 2021, by and between Brendan Delaney and Aadi Bioscience, Inc.

(incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K (File No.

001-38560) filed with the SEC on September 20, 2021).

10.17*# Amended and Restated Employment Agreement dated November 8, 2022, by and between Brendan Delaney and Aadi Bioscience, Inc.

10.18# Employment Agreement dated October 19, 2021, by and between Loretta Itri and Aadi Bioscience, Inc.

1 unchanged sentence

001-38560) filed with the SEC on November 10, 2021) .

License Agreement by and between Aadi Bioscience, Inc.

and EOC Pharma (Hong Kong) Limited dated December 8, 2020.

(incorporated by reference to Exhibit 10.18 to the Registrant's Quarterly Report on form 10-Q (File No.

001-38560) filed with the SEC on November 10, 2021).

10.19# Senior Cash Incentive Bonus Plan.

1 unchanged sentence

000-53057) filed with the SEC on March 15, 2017) .

10.20+ Negotiated Purchase Order Terms and Conditions for Clinical and Commercial Product, dated as of January 13, 2022, by and between Aadi Bioscience, Inc.

and Fresenius Kabi, LLC (incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K (File No.

001-38560) filed with the SEC on September 20, 2021).

10.21*+ Amendment No.1 to the Negotiated Purchase Order Terms and Conditions for Clinical and Commercial Product, dated as of January 16, 2023, by and between Aadi Bioscience, Inc.

and Fresenius Kabi, LLC.

10.22 Sales Agreement, dated as of March 17, 2022, by and between Aadi Bioscience, Inc.

and Cowen and Company, LLC (incorporated by reference to Exhibit 1.1 to the Registrant’s Current Report on Form 8-K (File No.

001-38560) filed with the SEC on March 17, 2022).

21.1* List of Subsidiaries of the Company

23.1* Consent of BDO USA LLP

Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

Certification of Principal Executive Officer Pursuant to 18 U.S.C.

Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

Certification of Principal Financial Officer Pursuant to 18 U.S.C.

31* Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32* Certification of Principal Executive Officer and Principal Financial Officer Pursuant to 18 U.S.C.

Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

IXBRL Inline Instance Document

IXBRL Inline Taxonomy Extension Schema Document

IXBRL Inline Taxonomy Extension Calculation Linkbase Document

IXBRL Inline Taxonomy Extension Definition Linkbase Document

IXBRL Inline Taxonomy Extension Label Linkbase Document

IXBRL Inline Taxonomy Extension Presentation Linkbase Document

101.INS IXBRL Inline Instance Document

101.SCH IXBRL Inline Taxonomy Extension Schema Document

101.CAL IXBRL Inline Taxonomy Extension Calculation Linkbase Document

101.DEF IXBRL Inline Taxonomy Extension Definition Linkbase Document

101.LAB IXBRL Inline Taxonomy Extension Label Linkbase Document

101.PRE IXBRL Inline Taxonomy Extension Presentation Linkbase Document

104 Cover Page Interactive Data File (formatted as Inline XBRL with applicable taxonomy extension information contained in Exhibits 101)

____________________

* Filed herewith.

8 unchanged sentences

March 28, 2023

/s/ Neil Desai, Ph.D.

Neil Desai, Ph.D.

Chief Executive Officer

( Principal Executive Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, this Report has been signed below by the following persons on behalf of the Registrant in the capacities and on the dates indicated.

/s/ Neil Desai, Ph.D.

Chief Executive Officer and Director

March 17, 2022

Neil Desai, Ph.D.

Principal Executive Officer

/s/ Scott Giacobello

Chief Financial Officer and Principal

March 17, 2022

Scott Giacobello

Financial and Accounting Officer

/s/ Caley Castelein, M.D.

March 17, 2022

Caley Castelein

/s/ Emma Reeve

March 17, 2022

/s/ Behzad Aghazadeh, Ph.D.

March 17, 2022

Behzad Aghazadeh

/s/ Anupam Dalal, M.D.

March 17, 2022

/s/ Karin Hehenberger, M.D., Ph.D.

March 17, 2022

Karin Hehenberger

/s/ Richard Maroun, J.D.

March 17, 2022

Richard Maroun

Interim Chief Executive Officer and President, and Chief Financial Officer

(Principal Executive Officer)

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Scott Giacobello and Stephen Rodin, and each of them, as his or her true and lawful attorney-in-fact and agent with full power of substitution and resubstitution, for him or her in any and all capacities, to sign any and all amendments to this Annual Report on Form 10-K, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact, proxy and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully for all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact, proxy and agent, or his or her substitute, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, this Report has been signed by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

Name Title Date

/s/ Scott Giacobello Interim Chief Executive Officer and President, and Chief Financial Officer

(Principal Executive, Financial and Accounting Officer) March 28, 2023

Scott Giacobello

/s/ Caley Castelein Chairman March 28, 2023

Caley Castelein, M.D.

/s/ Behzad Aghazadeh Director March 28, 2023

Behzad Aghazadeh, Ph.D.

/s/ Anupam Dalal Director March 28, 2023

Anupam Dalal, M.D.

/s/ Neil Desai Director, Executive Chairman March 28, 2023

Neil Desai, Ph.D.

/s/ Karin Hehenberger Director March 28, 2023

Karin Hehenberger, M.D., Ph.D.

/s/ Richard Maroun Director March 28, 2023

Richard Maroun, J.D.

/s/ Emma Reeve Director March 28, 2023

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures