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Market Information
−Removed: Our common stock began trading on The Nasdaq Global Market on December 3, 2013 under the symbol “XNCR.” Prior to such time, there was no public market for our common stock.
−Removed: On February 14, 2025, the closing price for our common stock as reported on the Nasdaq Global Market was $16.31.
−Removed: Holders of Record
−Removed: As of February 14, 2025, we had 70,461,934 shares of common stock outstanding held by approximately 166 stockholders of record.
−Removed: The actual number of stockholders is greater than this number of record holders and includes stockholders who are beneficial owners, but whose shares are held in street name by brokers and other nominees.
−Removed: This number of holders of record also does not include stockholders whose shares may be held in trust by other entities.
+Added: The Company’s common stock trades on the Nasdaq Global Select Market under the symbol “XNCR.” As of February 17, 2026, there were approximately 163 holders of record of the Company’s common stock.
Dividend Policy
−Removed: We have never declared or paid any cash dividends on our common stock.
−Removed: We currently intend to retain all available funds and any future earnings to support our operations and finance the growth and development of our business.
−Removed: We do not intend to pay cash dividends on our common stock for the foreseeable future.
−Removed: Any future determination related to our dividend policy will be made at the discretion of our Board of Directors and will depend upon, among other factors, our results of operations, financial condition, capital requirements, contractual restrictions, business prospects and other factors our Board of Directors may deem relevant.
+Added: The Company has never declared or paid cash dividends on its common stock and does not currently anticipate paying any cash dividends in the foreseeable future.
+Added: Any future determination to declare cash dividends will be made at the discretion of the Company’s board of directors, subject to applicable laws, and will depend on the Company’s financial condition, results of operations, capital requirements, general business conditions and other factors that the board of directors may deem relevant.
Performance Graph
−Removed: The following graph shows a comparison from December 31, 2019 through December 31, 2024 of the cumulative total return for our common stock, the Nasdaq Biotechnology Index (NBI) and the Nasdaq Composite Index (CCMP).
−Removed: The graph assumes an initial investment of $100 on December 31, 2019 and assumes reinvestment of the full amount of all dividends, if any.
−Removed: The comparisons in the graph are not intended to forecast or be indicative of possible future performance of our common stock.
−Removed: The performance graph shall not be deemed to be incorporated by reference by means of any general statement incorporating by reference this Form 10-K into any filing under the Securities Act of 1933, as amended or the Exchange Act, except to the extent that we specifically incorporate such information by reference, and shall not otherwise be deemed filed under such acts.
+Added: The performance graph shall not be deemed “soliciting material” or to be “filed” with the SEC, nor shall such information be incorporated by reference into any future filing under the Securities Act of 1933 or Securities Exchange Act of 1934, each as amended, except to the extent that the Company specifically incorporates it by reference into such filing.
+Added: The graph compares the cumulative 5-year total return to stockholders on the Company’s common stock relative to the cumulative total returns of the Nasdaq Composite Index and the Nasdaq Biotechnology Index.
+Added: The Company selected the Nasdaq Biotechnology Index because it believes the index reflects the market conditions within the industry in which the Company primarily operates.
+Added: The comparison of total return on investment, defined as the change in year-end stock price plus reinvested dividends, for each of the periods assumes that $100 was invested on December 31, 2020, in each of the Company’s common stock, the Nasdaq Composite Index and the Nasdaq Biotechnology Index, with investment weighted on the basis of market capitalization.
+Added: Comparison of Five-Year Cumulative Total Return
Recent Sales of Unregistered Securities
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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.