| Time | | | | |
| Date | | | | |
| Place | | | The offices of Goodwin Procter LLP, 100 Northern Avenue, Boston, MA 02210. In the event it is not possible or advisable to hold our 2024 Annual Meeting of Stockholders (the “Annual Meeting”) in person, | |
| Purpose | | | To elect To approve an amendment to To ratify the appointment of WithumSmith+Brown, PC as the Company’s independent registered public accounting firm for the fiscal year ending December 31, To approve an amendment to our amended and restated certificate of incorporation, as amended (the “Charter”), to authorize our Board of Directors, or Board, if they determine that doing so is in the best interest of our shareholders, to effect a reverse stock split of our outstanding shares of common stock, par value $0.0001 per share (the “Common Stock”), at a ratio, ranging from one-for-two (1:2) to one-for-forty (1:40), with the exact ratio to be set within that range at the discretion of our Board without further approval or authorization of our stockholders; To approve a proposal to adjourn the Annual Meeting to a later date or dates, if necessary or appropriate, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of the amendment to the Company’s 2021 Stock Option and Incentive Plan proposal and the reverse stock split proposal; and To transact any other business that may properly come before the | |
| Record Date | | | The Board has fixed the close of business on | |
| Meeting Admission | | | All stockholders as of the record date, or their duly appointed proxies, may attend the Annual Meeting. If you attend, you will be asked to present valid government-issued picture identification such as a driver’s license or passport. If your TransCode stock is held in a brokerage account or by a bank or other nominee, you are considered the beneficial owner of shares held in “street name,” and this Proxy Statement is being forwarded to you by your broker or nominee. As a result, your name does not appear on our list of stockholders. If your stock is held in “street name,” in addition to picture identification, you should bring with you a letter or account statement showing that you were the beneficial owner of the shares on the record date in order to be admitted to the Annual Meeting. | |
| Voting by Proxy | | | If you are a stockholder of record, please vote via the Internet or, for shares held in “street name,” please submit the voting instruction form you received |
from your broker or nominee as soon as possible so your shares can be voted at the Annual Meeting. You may submit your voting instruction form by U.S. mail. If you are a stockholder of record, you may also vote by telephone or by submitting a proxy card by U.S. mail. If your shares are held in “street name,” you will receive instructions from your broker or other nominee explaining how to vote your shares, and you may also have the choice of | |
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| | Matter | | | | Voting Options | | | | Board Recommends | | | | Vote Required for Approval | | | | Effect of Withheld Votes or Abstentions | | | | Effect of Broker Non-Votes | | |
| | 1. Election of Directors | | | | FOR WITHHOLD | | | | FOR each nominee | | | | Plurality of shares present and voting, which means that the | | | | None | | | | None | | |
| | 2. Plan Amendment | | | | FOR AGAINST ABSTAIN | | | | FOR | | | | Majority of | | | | | | | | | ||
| | 3. | | | | FOR AGAINST ABSTAIN | | | | FOR | | | | Majority of votes properly cast | | | | None | | | | None | | |
| | 4. | | | | FOR AGAINST ABSTAIN | | | | FOR | | | | Majority of votes properly cast | | | | None | | | | None | | |
| | 5. The Adjournment Proposal | | | | FOR AGAINST ABSTAIN | | | | FOR | | | | Majority of votes properly cast | | | | None | | | | None | | |
Name | | Positions and Offices Held with the Company | | Director Since | | Age | | | Positions and Offices Held with the Company | | Director Since | | Age | | ||||||
Robert Michael Dudley | | Chief Executive Officer and Director | | 2016 | | 73 | | |||||||||||||
Philippe P. Calais, PharmD, PhD | | Director and Chairman of the Board | | 2018 | | 65 | | |||||||||||||
Thomas A. Fitzgerald | | Vice President, Chief Financial Officer and Director | | 2018 | | 72 | | | Interim Chief Executive Officer, Chief Financial Officer, Vice President, and Director | | 2018 | | 73 | | ||||||
Philippe P. Calais, PhD | | Director and Chairman of the Board | | 2018 | | 64 | | |||||||||||||
Erik Manting, PhD | | Director | | 2020 | | 51 | | | Director | | 2020 | | 52 | | ||||||
Magda Marquet, PhD | | Director | | 2021 | | 64 | | | Director | | 2021 | | 65 | |
| | The Board recommends voting ‘FOR’ the election of | | |
Name | | | Position Held with TransCode | | | Officer Since | | | Age | |
Robert Michael Dudley | | | President, Chief Executive Officer and Director | | | 2016 | | | 73 | |
Thomas A. Fitzgerald | | | Vice President, Chief Financial Officer and Director | | | 2018 | | | 72 | |
Name | | | Position Held with TransCode | | | Officer Since | | | Age | |
Thomas A. Fitzgerald | | | Interim Chief Executive Officer, Chief Financial Officer, Vice President, and Director | | | 2018 | | | 73 | |
Name | | Position Held with TransCode | | Position Since | | Age | | | Position Held with TransCode | | Position Since | | Age | | ||||||
Zdravka Medarova, PhD | | Co-Founder and Chief Technology Officer | | 2021 | | 48 | | | Scientific Co-Founder, Chief Scientific Officer | | 2021 | | 49 | | ||||||
Qiyong Peter Liu, PhD | | Chief Scientist | | 2020 | | 58 | | |||||||||||||
Anna Moore, PhD | | Co-Founder, Scientific Advisor | | 2016 | | 60 | | | Scientific Co-Founder, Scientific Advisor | | 2016 | | 61 | |
| | | Actual 31-Dec-2022 | | | Notes | | | Pro Forma For Proposed Increase 22-Apr-24 | | | Notes | | ||||||||||||
Base Shares | | | | | 12,977,234 | | | | | | A | | | | | | 18,507,299 | | | | | | B | | |
Options | | | | | 3,017,033 | | | | | | C | | | | | | 3,000,000 | | | | | | D | | |
Total Base Shares and Options | | | | | 15,994,267 | | | | | | | | | | | | 21,507,299 | | | | | | | | |
Options as a Percent of: | | | | | | | | | | | | | | | | | | | | | | | | | |
Base Shares | | | | | 23.2% | | | | | | | | | | | | 16.2% | | | | | | | | |
Total Base Shares and Options | | | | | 18.9% | | | | | | | | | | | | 13.9% | | | | | | | | |
Notes | | | | | | | | | | | | | | | | | | | | | | | | | |
A. Prior to reverse stock splits | | | | | | | | | | | | | | | | | | | | | | | | | |
B. Comprises: | | | | | | | | | | | | | | | | | | | | | | | | | |
Common Shares at April 22, 2024 | | | | | | | | | | | | | | | | | 6,108,053 | | | | | | | | |
Unexercised Prefunded Warrants | | | | | | | | | | | | | | | | | 514,000 | | | | | | | | |
Warrants to purchase Common Stock exercisable at $1.22 per share | | | | | | | | | | | | | | | | | 11,885,246 | | | | | | | | |
| | | | | | | | | | | | | | | | | 18,507,299 | | | | | | | | |
C. Options outstanding at December 31, 2022 | | | | | | | | | | | | | | | | | | | | | | | | | |
D. Proposed Share Increase | | | | | | | | | | | | | | | | | | | | | | | | | |
Name and Position | | | Number of Shares of Common Stock Underlying Options | | |||
Robert Michael Dudley | | | | | 1,256 | | |
Thomas A. Fitzgerald | | | | | 606 | | |
Current executive officers, as a group | | | | | 606 | | |
Current directors who are not executive officers, as group | | | | | 240 | | |
Current employees who are not executive officers, as a group | | | | | 2,028 | | |
Current advisors and consultants who are not directors or executive officers, as group | | | | | 125 | | |
| | The Board recommends voting ‘FOR’ Proposal No. 2, an amendment to the TransCode Therapeutics, Inc. 2021 Stock Option and Incentive Plan to increase the number of shares available for issuance thereunder by 3,000,000 shares. | | |
Fee Category | | | Fiscal Year 2023 ($) | | | Fiscal Year 2022 ($) | | ||||||
Audit fees(1) | | | | $ | 161,000 | | | | | $ | 116,000 | | |
Audit-related fees(2) | | | | $ | 186,161 | | | | | $ | 80,000 | | |
Tax fees(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | | | | $ | 49,800 | | | | | $ | 8,000 | | |
All other fees(4) | | | | | — | | | | | | — | | |
Total Fees | | | | $ | 396,961 | | | | | $ | 204,000 | | |
| | The Board recommends voting ‘FOR’ Proposal No. 3 to ratify the appointment of WithumSmith+Brown, PC as TransCode’s independent registered public accounting firm for the fiscal year ending December 31, 2024. | | |
| | The Board recommends voting ‘FOR’ Proposal No. | | |
| | The Board recommends |
Fee Category | | | Fiscal Year 2022 ($) | | | Fiscal Year 2021 ($) | | ||||||
Audit fees(1) | | | | $ | 116,000 | | | | | $ | 121,025 | | |
Audit-related fees(2) | | | | $ | 80,000 | | | | | $ | 74,433 | | |
Tax fees(3) | | | | $ | 8,000 | | | | | $ | 2,318 | | |
All other fees(4) | | | | $ | — | | | | | | — | | |
Total Fees | | | | $ | 204,000 | | | | | $ | 197,776 | | |
| |
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Board Size: | | | | | | | | | | | | | | | | | | | ||||||||
Total Number of Directors | | 5 | | | 4 | | ||||||||||||||||||||
Gender Identity | | | Female | | Male | | Non-Binary | | Decline to Disclose | | | Female | | Male | | Non-Binary | | Decline to Disclose | | |||||||
Number of Directors based on gender identity | | 1 | | 4 | | — | | — | | | 1 | | 3 | | — | | — | | ||||||||
Part II: Demographic Background | | | Female | | Male | | Non-Binary | | Decline to Disclose | | | | Female | | Male | | Non-Binary | | Decline to Disclose | | ||||||
African American or Black | | — | | — | | — | | — | | | — | | — | | — | | — | | ||||||||
Alaskan Native or Native American | | — | | — | | — | | — | | | — | | — | | — | | — | | ||||||||
Asian | | — | | — | | — | | — | | | — | | — | | — | | — | | ||||||||
Hispanic or Latinx | | 1 | | — | | — | | — | | | 1 | | — | | — | | — | | ||||||||
Native Hawaiian or Pacific Islander | | — | | — | | — | | — | | | — | | — | | — | | — | | ||||||||
White | | — | | 4 | | — | | — | | | — | | 3 | | — | | — | | ||||||||
Two or More Races or Ethnicities | | — | | — | | — | | — | | | — | | — | | — | | — | | ||||||||
LGBTQ+ | | — | | — | | — | | — | | | — | | — | | — | | — | | ||||||||
Did Not Disclose Demographic Background | | — | | — | | — | | — | | | — | | — | | — | | — | |
| Audit Committee | | | Compensation Committee | | | Nominating and Corporate Governance Committee | |
| Philippe Calais* | | | Philippe Calais | | | Erik Manting* | |
| Erik Manting | | | Erik Manting | | | Magda Marquet | |
| Magda Marquet | | | Magda Marquet* | | | | |
Name | | | Fees Earned or Paid in Cash ($) | | | Option Awards ($)(1)(2) | | | All Other Compensation ($) | | | Total ($) | | ||||||||||||
Philippe P. Calais, PhD | | | | | 102,500 | | | | | | 9,036 | | | | | | — | | | | | | 111,536 | | |
Erik Manting, PhD | | | | | 60,500 | | | | | | 9,036 | | | | | | — | | | | | | 69,536 | | |
Magda Marquet, PhD | | | | | 62,500 | | | | | | 9,036 | | | | | | — | | | | | | 71,536 | | |
Name | | | Fees Earned or Paid in Cash ($) | | | Option Awards ($)(1)(2) | | | All Other Compensation ($) | | | Total ($) | | ||||||||||||
Philippe P. Calais, PhD | | | | | 100,000 | | | | | | 12,611 | | | | | | — | | | | | | 112,611 | | |
Erik Manting, PhD | | | | | 60,500 | | | | | | 12,611 | | | | | | — | | | | | | 73,111 | | |
Magda Marquet, PhD | | | | | 62,500 | | | | | | 12,611 | | | | | | — | | | | | | 75,111 | | |
| | | Annual Retainer | | |||
Board of Directors: | | | | | | | |
Members | | | | $ | 40,000 | | |
Additional retainer for non-executive chair | | | | $ | 40,000 | | |
Audit Committee: | | | | | | | |
Members (other than chair) | | | | $ | 7,500 | | |
Retainer for chair | | | | $ | 15,000 | | |
Compensation Committee: | | | | | | | |
Members (other than chair) | | | | $ | 5,000 | | |
Retainer for chair | | | | $ | 10,000 | | |
Nominating and Corporate Governance Committee: | | | | | | | |
Members (other than chair) | | | | $ | 5,000 | | |
Retainer for chair | | | | $ | 8,000 | | |
Name and principal position | | Year | | Salary ($)(1) | | Bonus ($)(2) | | Stock Awards ($) | | Option Awards ($)(3) | | All Other Compensation ($) | | Total ($) | | | Year | | Salary ($)(1) | | Bonus ($) | | Stock Awards ($) | | Option Awards ($)(2) | | All Other Compensation ($) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Robert Michael Dudley Chief Executive Officer | | | | | 2022 | | | | | 494,000 | | | — | | | | — | | | | | 311,027 | | | | | — | | | | | 805,027 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2021 | | | | | 240,000 | | | | | 255,484 | | | | | — | | | — | | | | — | | | | | 495,484 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | — | | — | | | | — | | | | | 42,978 | | | | | — | | | | | 42,978 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thomas A. Fitzgerald Vice President and Chief Financial Officer | | | | | 2022 | | | | | 371,000 | | | — | | | | — | | | | | 189,701 | | | | | — | | | | | 560,701 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2021 | | | | | 180,000 | | | | | 137,613 | | | | | — | | | — | | | | — | | | | | 317,613 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | — | | — | | | | — | | | | | 15,386 | | | | | — | | | | | 15,386 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Robert Michael Dudley Former Chief Executive Officer | | | | | 2023 | | | | | 474,392 | | | | | — | | | | | — | | | | | 168,374 | | | | | — | | | | | 642,766 | | | |||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2022 | | | | | 494,000 | | | | | — | | | | | — | | | | | 311,027 | | | | | — | | | | | 805,027 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||
Thomas A. Fitzgerald Interim Chief Executive Officer, Vice President and Chief Financial Officer | | | | | 2023 | | | | | 358,138 | | | | | — | | | | | — | | | | | 68,724 | | | | | — | | | | | 426,862 | | | |||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2022 | | | | | 371,000 | | | | | — | | | | | — | | | | | 189,701 | | | | | — | | | | | 560,701 | | |
| | | | | | | Option Awards | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | | Vesting Commencement Date | | | Option Awards | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Vesting Commencement Date | | Number of Securities Underlying Unexercised Options (#) Exercisable | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | Option Exercise Price ($) | | Option Expiration Date | | Number of Shares or Units of Stock that Have Not Vested (#) | | Market Value of Shares or Units of Stock That Have Not Vested ($) | | | Number of Securities Underlying Unexercised Options (#) Exercisable | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | Option Exercise Price ($) | | Option Expiration Date | | Number of Shares or Units of Stock that Have Not Vested (#) | | Market Value of Shares or Units of Stock That Have Not Vested ($) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Robert Michael Dudley | | | | | 12/1/2022(1) | | | — | | | | 135,000 | | | | $ | 0.51 | | | | | 12/11/2032 | | | | | — | | | | | — | | | | | | 5/19/2023(1) | | | | | 919 | | | | | — | | | | | 226.72 | | | | | 5/18/2033 | | | | | — | | | | | — | | | ||||||||||||||||
| | | 2/1/2022(1) | | | — | | | | 135,000 | | | | $ | 2.45 | | | | | 1/31/2032 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 1/1/2020(2) | | | | | 818,852 | | | — | | | $ | 0.09 | | | | | 6/18/2025 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 12/1/2022(2) | | | | | 61 | | | | | 108 | | | | | 408.00 | | | | | 12/11/2032 | | | | | — | | | | | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 2/1/2022(2) | | | | | 72 | | | | | 97 | | | | | 1,960.00 | | | | | 1/31/2032 | | | | | — | | | | | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 1/1/2020(3) | | | | | 1,024 | | | | | — | | | | | 72.80 | | | | | 6/18/2025 | | | | | — | | | | | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
Thomas A. Fitzgerald | | | | | 12/1/2022(1) | | | — | | | | 100,000 | | | | $ | 0.51 | | | | | 12/11/2032 | | | | | — | | | | | — | | | | | | 5/19/2023(1) | | | | | 375 | | | | | — | | | | | 226.72 | | | | | 5/18/2033 | | | | | | | | | | | | | ||||||||||||||||
| | | 2/1/2022(1) | | | — | | | | 52,000 | | | | $ | 2.12 | | | | | 2/28/2032 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2/1/2022(1) | | | — | | | | 33,000 | | | | $ | 2.45 | | | | | 1/31/2032 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 1/1/2020(2) | | | | | 242,622 | | | — | | | $ | 0.08 | | | | | 6/18/2030 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 12/1/2022(2) | | | | | 45 | | | | | 80 | | | | | 408.00 | | | | | 12/11/2032 | | | | | — | | | | | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 2/1/2022(2) | | | | | 35 | | | | | 30 | | | | | 1,680.00 | | | | | 2/28/2032 | | | | | — | | | | | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 2/1/2022(2) | | | | | 26 | | | | | 15 | | | | | 1,960.00 | | | | | 1/31/2032 | | | | | — | | | | | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 1/1/2020(3) | | | | | 303 | | | | | — | | | | | 65.60 | | | | | 6/19/2030 | | | | | — | | | | | — | | |
Name of Beneficial Owner | | | Shares Beneficially Owned | | | Percentage of Shares Beneficially Owned | | ||||||
Greater-than-5% Stockholders | | | | | | | | | | | | | |
Zdravka Medarova, PhD, Chief Technology Officer(1) | | | | | 1,667,626 | | | | | | 10.5% | | |
Anna Moore, PhD, Co-Founder, Advisor(2) | | | | | 1,603,333 | | | | | | 10.1% | | |
Named Executive Officers and Directors | | | | | | | | | | | | | |
Robert Michael Dudley, Chief Executive Officer, President, and Director(3) | | | | | 1,768,211 | | | | | | 10.6% | | |
Thomas A. Fitzgerald, Vice President, Chief Financial Officer(4) | | | | | 417,408 | | | | | | 2.6% | | |
Philippe Calais, PhD, Director(5) | | | | | 156,693 | | | | | | 1.0% | | |
Erik Manting, PhD, Director(6) | | | | | 29,316 | | | | | | 0.2% | | |
Magda Marquet, PhD, Director(7) | | | | | 28,305 | | | | | | 0.2% | | |
All executive officers and directors as a group (5 persons) | | | | | 2,399,934 | | | | | | 14.5% | | |
Name of Beneficial Owner | | | Shares Beneficially Owned | | | Percentage of Shares Beneficially Owned | | ||||||
Named Executive Officers and Directors | | | | | | | | | |||||
Robert Michael Dudley, Former Chief Executive Officer, President, and Director(1) | | | | | 6,684 | | | | | | 0.115% | | |
Thomas A. Fitzgerald, Interim Chief Executive Officer, Chief Financial Officer(2) | | | | | 2,231 | | | | | | 0.038% | | |
Philippe Calais, PharmD, PhD, Director(3) | | | | | 278 | | | | | | 0.005% | | |
Erik Manting, PhD, Director(4) | | | | | 118 | | | | | | 0.002% | | |
Magda Marquet, PhD, Director(5) | | | | | 117 | | | | | | 0.002% | | |
All current executive officers and directors as a group (5 persons) | | | | | 9,428 | | | | | | 0.162% | | |
| | Equity Compensation Plan Information | | | Equity Compensation Plan Information | | ||||||||||||||||||||||||||||||||
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($) | | Number of securities remaining available for future issuance under equity compensation plans (excluding securities referenced in column (a)) | | | Number of securities to be issued upon exercise of outstanding options, warrants and rights | | Weighted Average exercise price of outstanding options, warrants and rights($) | | Number of securities remaining available for future issuance under equity compensation plans (excluding securities referenced in column (a)) | | ||||||||||||||||||||||||
| | (a) | | (b) | | (c) | | | (a)(1) | | (b) | | (c)(2) | | ||||||||||||||||||||||||
Equity compensation plans approved by security holders: | | | | 3,017,033(1) | | | | $ | 0.74 | | | | | 2,241,543 | | | | | | 6,067 | | | | $ | 401.17 | | | | | 5,181 | | | ||||||
Equity compensation plans not approved by security holders: | | | | N/A | | | | | N/A | | | | | N/A | | | | | | N/A | | | | | N/A | | | | | N/A | | | ||||||
Total | | | | 3,017,033 | | | | $ | 0.74 | | | | | 2,241,543 | | | | | | 6,067 | | | | $ | 401.17 | | | | | 5,181 | | |