Dermata Therapeutics Schedules 2024 Annual Meeting of Stockholders for May 7

TL;DR

<b>Dermata Therapeutics will hold its virtual Annual Meeting on May 7, 2024, with key votes on director elections and equity incentive plan amendments.</b>

AI Summary

Dermata Therapeutics, Inc. (DRMAW) filed a Proxy Statement (DEF 14A) with the SEC on March 26, 2024. Dermata Therapeutics, Inc. will hold its Annual Meeting of Stockholders on May 7, 2024, at 9:00 a.m. Pacific Time. The meeting will be conducted virtually via a webcast at https://agm.issuerdirect.com/drma. Stockholders will vote on the election of three director nominees. A key proposal is to amend the 2021 Omnibus Equity Incentive Plan to increase the overall share limit to 1,198,951 shares and adjust the annual evergreen provision. Another proposal concerns amending the Certificate of Incorporation to potentially effect a reverse stock split.

Why It Matters

For investors and stakeholders tracking Dermata Therapeutics, Inc., this filing contains several important signals. The virtual format limits in-person attendance, requiring stockholders to participate online. The proposed amendments to the equity incentive plan and potential reverse stock split could significantly impact share structure and future equity compensation.

Risk Assessment

Risk Level: low — Dermata Therapeutics, Inc. shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting and does not contain significant new financial or operational information, indicating a low level of immediate risk.

Analyst Insight

Stockholders should review the proposals regarding director nominees and equity plan amendments before the May 7th meeting.

Key Numbers

• May 7, 2024 — Annual Meeting Date (Date of the Annual Meeting of Stockholders)
• 9:00 a.m. Pacific Time — Meeting Time (Time of the Annual Meeting)
• 1,198,951 — Overall Share Limit (Proposed maximum aggregate number of shares under the 2021 Plan)
• 5% — Annual Evergreen Increase (Percentage increase for the annual evergreen portion of the share limit)

Key Players & Entities

• Dermata Therapeutics, Inc. (company) — Registrant
• May 7, 2024 (date) — Annual Meeting date
• 2021 Omnibus Equity Incentive Plan (plan) — Plan to be amended
• 1,198,951 (dollar_amount) — Overall Share Limit

FAQ

Risk Factors

• Compliance with SEC Regulations [low — regulatory]: The company must comply with all SEC rules and regulations regarding proxy solicitations and annual meetings.
• Virtual Meeting Format [low — operational]: Holding the meeting virtually may impact stockholder participation and engagement.
• Equity Incentive Plan Amendments [medium — financial]: Changes to the equity incentive plan could affect future dilution and compensation costs.
• Potential Reverse Stock Split [medium — financial]: A reverse stock split could impact the stock price and market perception.

Key Dates

• 2024-05-07: Annual Meeting of Stockholders — Key date for stockholder votes on directors and plan amendments.

Glossary

2021 Omnibus Equity Incentive Plan

A plan to grant equity awards to employees and directors. (Stockholders will vote on amendments to increase the share pool and adjust evergreen provisions.)

Reverse Stock Split

A corporate action where a company reduces the number of its outstanding shares. (Stockholders will vote on a proposal to potentially effect a reverse stock split.)

Key Financial Figures

• $0 — er of shares of common stock, par value $0.0001, per share (" Common Stock ") whic

Filing Documents

• drma_def14a.htm (DEF 14A) — 725KB
• drma_def14aimg1.jpg (GRAPHIC) — 1KB
• drma_def14aimg2.jpg (GRAPHIC) — 1KB
• drma_def14aimg6.jpg (GRAPHIC) — 5KB
• drma_def14aimg7.jpg (GRAPHIC) — 1KB
• drma_def14aimg8.jpg (GRAPHIC) — 1KB
• 0001654954-24-003656.txt (&nbsp;) — 739KB

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 26 Summary Compensation Table 26 Employment Agreements with Our Named Executive Officers 26 Outstanding Equity Awards at Fiscal Year End - 2023 29 DIRECTOR COMPENSATION 31 Director Compensation Table - 2023 31 Director Compensation Policy 31 EQUITY COMPENSATION PLAN INFORMATION 32 2021 Equity Incentive Plan 32 REPORT OF THE AUDIT COMMITTEE 33

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 34 TRANSACTIONS WITH RELATED PERSONS 36 PROPOSAL 2: The Plan Amendment Proposal 37 PROPOSAL 3: The Reverse Stock Split Proposal 46 PROPOSAL 4: Ratification of the Appointment of Moss Adams, LLP as our Independent Registered Public Accounting Firm for the year ending December 31, 2024 55 PROPOSAL 5: The Adjournment Proposal 57 STOCKHOLDER PROPOSALS 58 ANNUAL REPORT 58 HOUSEHOLDING OF ANNUAL MEETING MATERIALS 58 OTHER MATTERS 59 4 Table of Contents DERMATA THERAPEUTICS, INC. 3525 DEL MAR HEIGHTS RD., #322 SAN DIEGO, CA 92130 2024 PROXY STATEMENT This proxy statement (" Proxy Statement ") contains information related to the 2024 Annual Meeting of Stockholders (the " Annual Meeting ") of Dermata Therapeutics, Inc. (the "Company", "us", "we" or "our") to be held on May 7, 2024 at 9:00 a.m. Pacific Time, or at such other time and place to which the Annual Meeting may be adjourned or postponed. This year's meeting will be a virtual meeting via live webcast on the Internet. You will be able to attend our Annual Meeting, vote and submit your questions by visiting https://agm.issuerdirect.com/drma . You will not be able to attend the Annual Meeting in person . The enclosed proxy is solicited by our Board of Directors (the " Board "). The proxy materials relating to the Annual Meeting are being mailed to stockholders entitled to vote at the meeting on or about March 26, 2024. A list of record holders of our common stock entitled to vote at the Annual Meeting will be available for examination by any stockholder, for any purpose germane to the Annual Meeting, at the offices of Lowenstein Sandler, LLP, the Company's outside counsel, at 1251 Avenue of the Americas, 17 th Floor, New York, NY 10020, during normal business hours for ten days prior to the Annual Meeting (the " Stockholder List ") and available during the Annual Meeting for examination by the stockholders during th

View Full Filing

View this DEF 14A filing on SEC EDGAR