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VivoSim Labs, INC.

For the period ended Oct 4, 2024. Filed Oct 7, 2024.

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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

Oct 4, 2024 · Filed Oct 7, 2024

VIVS$0.14+0.1%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

(Amendment No. _)

Filed by the Registrant ☒Filed by a Party other than the Registrant ☐

Check the appropriate box:

☐Preliminary Proxy Statement
☐Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☒Definitive Proxy Statement
☐Definitive Additional Materials
☐Soliciting Material under §240.14a-12

Organovo Holdings, Inc.

(Name of Registrant as Specified In Its Charter)

Not Applicable

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check all boxes that apply):

☒No fee required.
☐Fee paid previously with preliminary materials.
☐Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.

Organovo Holdings, Inc.

11555 Sorrento Valley Rd., Suite 100

San Diego, CA 92121

October 7, 2024

Dear Stockholder:

You are cordially invited to attend this year’s Annual Meeting of Stockholders of Organovo Holdings, Inc. on Wednesday, November 20, 2024 at 9:00 a.m. (Pacific Daylight Time). The Annual Meeting will be completely virtual. You may attend the virtual meeting, submit questions and vote your shares electronically during the meeting via live webcast by visiting www.virtualshareholdermeeting.com/ONVO2024.

On or about October 7, 2024, we will mail our proxy materials to our stockholders, comprised of the enclosed Annual Report, the Notice of Annual Meeting of Stockholders, the Proxy Statement, and proxy card.

The matters to be acted upon are described in the Notice of 2024 Annual Meeting of Stockholders and Proxy Statement. Following the formal business of the meeting, we will respond to questions from stockholders.

Whether or not you plan to virtually attend the meeting, your vote is very important and we encourage you to vote promptly. You may vote by proxy over the internet or by telephone, or you can also vote by mail by following the instructions on your proxy card. If you virtually attend the meeting, you will have the right to revoke your proxy and vote electronically during the meeting via the live webcast. If you hold your shares through an account with a brokerage firm, bank or other nominee, please follow the instructions you receive from your brokerage firm, bank or other nominee to vote your shares.

On behalf of your Board of Directors, thank you for your continued support and interest.

Sincerely yours,

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ORGANOVO HOLDINGS, INC. NOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON NOVEMBER 20, 2024

To Our Stockholders:

The 2024 Annual Meeting of Stockholders (the “Annual Meeting”) of Organovo Holdings, Inc. (“we,” “us,” “our,” “Organovo” or the “Company”) will be held on Wednesday, November 20, 2024, at 9:00 a.m. (Pacific Daylight Time). The Annual Meeting will be completely virtual. You may attend the meeting, submit questions and vote your shares electronically during the meeting via live webcast by visiting www.virtualshareholdermeeting.com/ONVO2024. At the Annual Meeting, our stockholders will be asked:

To elect each of Alison Tjosvold Milhous and Vaidehi Joshi as a Class I director to hold office until the 2027 Annual Meeting of Stockholders and until her respective successor is elected and qualified;

To ratify the appointment of Rosenberg Rich Baker Berman P.A. as our independent registered public accounting firm for the fiscal year ending March 31, 2025;

To approve, on an advisory basis, the compensation of our named executive officers;

To approve the amendment and restatement of the Organovo Holdings, Inc. 2022 Equity Incentive Plan to increase the number of shares reserved for issuance thereunder by 1,775,000 shares;

To approve an amendment to the Company’s Certificate of Incorporation, as amended, to effect, in the sole discretion of the Board of Directors of the Company (the “Board”) at any time on or before November 20, 2025, a reverse stock split of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a ratio to be determined by the Board within a range of 1-to-5 to 1-to-20 (or any number in between), without reducing the authorized number of shares of Common Stock and without further approval or authorization of our stockholders; and

To transact such other business as may properly be brought before the Annual Meeting or any adjournments or postponements thereof.

Our Board of Directors recommends a vote FOR each of the director nominees, and FOR proposals 2, 3, 4 and 5 listed above. Stockholders of record at the close of business on September 23, 2024 are entitled to notice of, and to vote on, all matters at the Annual Meeting and any reconvened meeting following any adjournments or postponements thereof. For 10 days prior to the Annual Meeting, a complete list of stockholders entitled to vote at the Annual Meeting will be available for examination by any stockholder, for any purpose relating to the Annual Meeting, during ordinary business hours at our corporate offices located at 11555 Sorrento Valley Rd., Suite 100, San Diego, CA 92121.

All stockholders are invited to attend the virtual Annual Meeting. Whether or not you expect to attend the Annual Meeting, you are urged to vote or submit your proxy as soon as possible so that your shares can be voted at the Annual Meeting in accordance with your instructions. Telephone and internet voting are available. For specific instructions on voting, please refer to the proxy card. If you hold your shares through an account with a brokerage firm, bank or other nominee, please follow the instructions you receive from them to vote your shares.

Important Notice Regarding Availability of Proxy Materials for the Annual Meeting: This Notice of 2024 Annual Meeting of Stockholders, Proxy Statement and Annual Report are available at www.proxyvote.com.

By Order of the Board of Directors

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October 7, 2024

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2024 Proxy Statement Summary

To assist you in reviewing the Proxy Statement for the Organovo Holdings, Inc. (“we,” “us,” “our,” “Organovo” or the “Company”) 2024 Annual Meeting of Stockholders (the “Annual Meeting”), we call your attention to the following summary information about the Annual Meeting, the proposals to be considered at the Annual Meeting and our corporate governance and compensation frameworks. For more complete information, please review our Proxy Statement. Regardless of the number of shares you own, your VOTE is very important. Even if you presently plan to virtually attend the Annual Meeting, please vote or submit your proxy as soon as possible so that your shares can be voted at the Annual Meeting in accordance with your instructions. Telephone and internet voting are available. For specific instructions on voting, please refer to the proxy card. If you do virtually attend the Annual Meeting and wish to vote electronically, you may withdraw your proxy at that time.

Annual Meeting of Stockholders

Date and Time:November 20, 2024 at 9:00 a.m. (Pacific Daylight Time)
Place:www.virtualshareholdermeeting.com/ONVO2024
Record Date:September 23, 2024
Voting:If you were a “stockholder of record” or beneficial owner of shares held in “street name” as of the Record Date, you may vote your shares. You may vote in person at the Annual Meeting or by the internet, telephone or mail. See the “General Information – Voting Instructions” in the Proxy Statement for more detail regarding how you may vote your shares.
Virtual Meeting:The Annual Meeting will be conducted as a virtual meeting of stockholders by means of a live webcast. We believe that hosting a virtual meeting will enable greater stockholder attendance and participation from any location, improved communication and cost savings to our stockholders. You can virtually attend the Annual Meeting by visiting www.virtualshareholdermeeting.com/ONVO2024, where you will be able to vote your shares and submit your questions during the meeting via the internet. There will not be a physical meeting location and you will not be able to attend in person.The Annual Meeting starts at 9:00 a.m. (Pacific Daylight Time). We encourage you to access the meeting website prior to the start time to allow time for check-in. If you encounter any difficulties accessing the virtual meeting during the check-in or meeting time, please call the technical support number that will be posted on the virtual shareholder meeting login page.You do not need to register to virtually attend the Annual Meeting webcast. Follow the instructions on your proxy card to access the Annual Meeting.

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Proposals and Voting Recommendations

Board Vote RecommendationPage References (for more detail)
Proposals:
(1) Election of two Class I directors each to hold office until the 2027 Annual Meeting of Stockholders and until her respective successor is elected and qualified.FOR EACHNOMINEE7 – 8
(2) Ratification of the appointment of Rosenberg Rich Baker Berman P.A. as our independent registered public accounting firm for the fiscal year ending March 31, 2025.FOR9 – 11
(3) Approval, on an advisory and non-binding basis, of the compensation of our named executive officers.FOR12

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(4) Approval of the amendment and restatement of the Organovo Holdings, Inc. 2022 Equity Incentive Plan (the “Plan”) to increase the number of shares reserved for issuance thereunder by 1,775,000 shares.FOR13-25
(5) Approval of an amendment to the Company’s Certificate of Incorporation, as amended, to effect, in the sole discretion of the Board of Directors of the Company (the “Board”) at any time on or before November 20, 2025, a reverse stock split of the Company’s common stock at a ratio to be determined by the Board within a range of 1-to-5 to 1-to-20 (or any number in between), without reducing the authorized number of shares of the Company’s common stock and without further approval or authorization of our stockholders.FOR26-36

Current Corporate Governance Summary Facts

We seek to maintain high standards of business conduct and corporate governance, which we believe are fundamental to the overall success of our business, serve our stockholders well and maintain our integrity in the marketplace. The following table summarizes some of the key elements of our current corporate governance framework:

Size of Board6
Number of Independent Directors4
Lead Independent DirectorYes
Review Board and Board Committee Independence and QualificationsAnnual
Board Self-EvaluationPeriodic
Hold Executive SessionsYes
Diverse Board (as to background, experience and skills)Yes
Board has Adopted Corporate Governance GuidelinesYes
Board has Not Amended Charters or Taken Actions to Reduce Stockholder RightsTrue
Director Meeting Attendance Above 75%Yes
Stock Ownership GuidelinesYes
No Family Relationships Among Officers and DirectorsTrue
All Committee Chairs and Other Committee Members Qualify as Independent DirectorsYes
Plurality Plus Standard in Director ElectionsYes

Summary of Compensation Best Practices

Our Board established a Compensation Committee of the Board (the “Compensation Committee”) comprised of three independent directors in accordance with the rules and regulations established by the Securities and Exchange Commission (the “SEC”) and the Nasdaq Capital Market. Our Board has delegated to the Compensation Committee the authority to establish the Company’s executive compensation program and to approve all compensation received by the Company’s executive officers and the other members of its management team. Since October 1, 2020, the Compensation Committee has retained, on an annual basis, Anderson Pay Advisors LLC (“Anderson”) as its independent compensation consultants, to assist it in evaluating the Company’s executive compensation program and selecting an appropriate peer group of comparable companies for purposes of setting executive compensation.

The Compensation Committee periodically reviews best practices in governance and executive compensation. The following is a high-level summary of certain executive compensation practices that the Compensation Committee believes drive Company performance and serve our stockholders’ long-term interests:

Compensation Committee Comprised of At Least Three Independent DirectorsYes
Independent Compensation Consultant RetainedYes
Compensation Committee Members all qualify as “outside directors” and “non-employee directors”True
Compensation Based on Comparison to Peer Group DataYes
All Directors and Officers Subject to Stock Ownership GuidelinesYes

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Compensation Committee Performs Compensation Risk AssessmentAnnual
Prohibitions Against all Directors, Officers and Employees Hedging or Pledging StockYes
Incentive Plans Based on Performance MetricsYes
Company Does Not Offer Tax Gross Ups for Severance or Change of ControlYes
Reasonable and Double Trigger Accelerated Vesting Provisions AdoptedYes
No Multi-Year Guaranteed BonusesYes
Stock Option Plan Prohibits Option Repricing and Share RecyclingYes
Company Has Not Repriced Options in Last Three YearsYes
No Executive Employment Agreements with Guaranteed TermsYes
Offer Limited Perquisites to ExecutivesYes
Consider Prior Year’s Advisory Vote regarding Named Executive Officer CompensationYes
Terms of Severance Plan Described to StockholdersYes
Equity Incentive Plans Do Not Contain an “Evergreen” FeatureYes

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TABLE OF CONTENTS

GENERAL INFORMATION1
PROPOSAL 1: ELECTION OF DIRECTORS7
PROPOSAL 2: RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM9
PROPOSAL 3: ADVISORY VOTE TO APPROVE COMPENSATION OF NAMED EXECUTIVE OFFICERS12
PROPOSAL 4: APPROVAL OF AMENDMENT AND RESTATEMENT OF THE ORGANOVO HOLDINGS, INC. 2022 EQUITY INCENTIVE PLAN TO INCREASE THE NUMBER OF SHARES RESERVED FOR ISSUANCE THEREUNDER BY 1,775,000 SHARES13
PROPOSAL 5: APPROVAL OF THE REVERSE STOCK SPLIT26
BOARD OF DIRECTORS INFORMATION37
Information About Our Directors37
Board Diversity Matrix37
CORPORATE GOVERNANCE41
Overview41
Corporate Governance Guidelines41
Code of Business Conduct41
Board Independence41
Board Leadership Structure42
Board Committees43
Board and Committee Attendance44
Director Attendance at the Annual Meeting44
Executive Sessions45
Board Oversight of Risk45
Compensation Committee Interlocks and Insider Participation45
Stock Ownership Guidelines45
Succession Planning46
Consideration of Director Nominees46
Communications with the Board of Directors46
Plurality Plus Standard for Director Elections47
DIRECTOR COMPENSATION48
Fiscal 2024 Director Compensation Framework48
Director Compensation Table49
EXECUTIVE OFFICERS50
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT51
EXECUTIVE COMPENSATION53
Recent “Say-on-Pay” Vote53
Compensation Philosophy and Objectives53
Use of Market Data and Benchmarking54
Determination of Executive Compensation55
Commitment to Good Compensation Governance Practices55
Components of Executive Compensation56
Other Benefits57
Severance Arrangement57
Potential Payments upon Termination or Change in Control58
Death or Disability Benefits58
Summary Compensation Table59
Outstanding Equity Awards at Fiscal Year End59
ITEM 402(V) PAY VERSUS PERFORMANCE61
REPORT OF THE AUDIT COMMITTEE64
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS65
OTHER MATTERS66
PROXY SOLICITATION66
STOCKHOLDER PROPOSALS FOR 2025 ANNUAL MEETING66
HOUSEHOLDING OF ANNUAL MEETING MATERIALS66
ANNEX A: AMENDED AND RESTATED ORGANOVO HOLDINGS, INC. 2022 EQUITY INCENTIVE PLAN69
ANNEX B: THIRD AMENDMENT TO CERTIFICATE OF INCORPORATION86

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11555 Sorrento Valley Rd., Suite 100,

San Diego, CA 92121

PROXY STATEMENT FOR THE 2024 ANNUAL MEETING OF STOCKHOLDERS TO BE HELD NOVEMBER 20, 2024

This Proxy Statement, along with a proxy card, is being mailed and made available to our stockholders on or about October 7, 2024

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.