180 Life Sciences Corp.
For the period ended Jul 24, 2025. Filed Jul 7, 2025.
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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.
Jul 24, 2025 · Filed Jul 7, 2025
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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
| Filed by the Registrant | ☒ |
|---|---|
| Filed by 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 Rule 14a-12 |
**180 LIFE SCIENCES CORP.
**(Name of Registrant as Specified in Charter)
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 |
|---|
3000 El Camino Rd., Bldg. 4, Suite 200
Palo Alto, California 94306
July 7, 2025
To Our Stockholders:
The Board of Directors (“Board”) and officers of 180 Life Sciences Corp., a Delaware corporation (the “Company”), join us in extending to you a cordial invitation to attend the 2025 annual meeting of our stockholders, which we refer to as the annual meeting or the Meeting, to be held (subject to postponement(s) or adjournment(s) thereof):
| Date: | Thursday, July 24, 2025 |
|---|---|
| Time: | 9:00 a.m. Pacific Time |
| Virtual Meeting Site: | https://agm.issuerdirect.com/ATNF-2025 |
You will not be able to attend the annual meeting physically. The annual meeting will be held via an audio teleconference. Stockholders may attend, vote and submit questions during the annual meeting via the Internet by logging in athttps://agm.issuerdirect.com/ATNF-2025, with your Control ID and Request ID, and thereafter following the instructions to join the virtual meeting. In addition to voting by submitting your proxy prior to the annual meeting and/or voting online as discussed herein, you also will be able to vote your shares electronically during the annual meeting with your Request ID. Details regarding the business to be conducted are more fully described in the accompanying Notice of Annual Meeting and Proxy Statement.
The Notice of Annual Meeting and Proxy Statement, is also available athttps://www.iproxydirect.com/ATNF. This website also includes copies of our Annual Report on Form 10-K for the year ended December 31, 2024, which we refer to as the annual report. Stockholders may also request a copy of the proxy statement and our annual report by contacting our main office at (650) 507-0669.
In connection with the annual meeting, you will be asked to consider and vote on certain proposals, which are more fully described in the accompanying proxy statement. Whether or not you plan to attend the annual meeting, we urge you to read the proxy statement (and any documents incorporated into the proxy statement by reference) and consider such information carefully before voting. The attached Notice of Annual Meeting and the Proxy Statement describe the business to be considered and acted upon by the stockholders at the annual meeting. Please review these materials and vote your shares.
Your vote is very important. Even if you plan to attend the annual meeting, if you are a holder of record of voting stock please submit your proxy by mail, fax, Internet or telephone as soon as possible to make sure that your shares are represented at the annual meeting. If you hold your shares of Company stock in “street name” through a bank, broker, or other nominee, you must vote in accordance with the voting instructions provided to you by such bank, broker, or other nominee, which include instructions for voting by Internet or telephone.
Our Board of Directors encourages your participation in 180 Life Sciences Corp.’s electoral process and, to that end, solicits your proxy with respect to the matters described in the Notice of Meeting and the proxy statement.
We look forward to seeing you on July 24, 2025. Your vote and participation in our governance is very important to us.
Sincerely,
/s/ Blair Jordan
Blair Jordan
Chief Executive Officer and Director
Our proxy statement and Annual Report on Form 10-K for the year ended December 31, 2024 are available at the following cookies-free website that can be accessed anonymously:https://agm.issuerdirect.com/ATNF-2025. Stockholders may also vote prior to the meeting atwww.iproxydirect.com/ATNF.
**180 LIFE SCIENCES CORP.
**3000 El Camino Rd., Bldg. 4, Suite 200
Palo Alto, California 94306
**NOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERS
TO BE HELD ON JULY 24, 2025
To the Stockholders of 180 Life Sciences Corp.:
We are pleased to provide you notice of, and to invite you to attend, the 2025 annual meeting of the stockholders of 180 Life Sciences Corp., a Delaware corporation (“180 Life”, the “Company”, “we” and “us”), which will be held on Thursday, July 24, 2025, at 9:00 a.m., Pacific Time (subject to postponement(s) or adjournment(s) thereof), which we refer to as the annual meeting, or the “Meeting”. The meeting will be held virtually via live audio webcast athttps://agm.issuerdirect.com/ATNF-2025. See also “Instructions For The Virtual Annual Meeting”, beginning on page 1. The annual meeting is being held for the following purposes:
| 1. | To elect two Class I directors to the Board of Directors (the “Board”) each to serve a term of two years and until their respective successors have been elected and qualified, or until such director’s resignation or removal. The Board has nominated for re-election the following incumbent Class I directors: Lawrence Steinman, M.D. and Stephen H. Shoemaker. |
| 2. | To approve the adoption of the Fourth Amendment to the 180 Life Sciences Corp. 2022 Omnibus Incentive Plan. The Board of Directors recommends that you approve and ratify the Fourth Amendment to the 180 Life Sciences Corp. 2022 Omnibus Incentive Plan. |
| 3. | To approve the adoption of the 180 Life Sciences Corp. 2025 Option Incentive Plan. The Board of Directors recommends that you approve and ratify the 180 Life Sciences Corp. 2025 Option Incentive Plan. |
| 4. | To approve an advisory resolution on Named Executive Officer compensation. The Board of Directors recommends that you approve and ratify executive compensation. |
| 5. | To approve an Amendment to the Company’s Second Amended and Restated Certificate of Incorporation to approve a reverse stock split of the Company’s outstanding common stock. The Board of Directors recommends that you grant discretionary authority to the Company’s Board of Directors to (A) approve an amendment to our Second Amended and Restated Certificate of Incorporation, as amended, to effect a reverse stock split of our issued and outstanding shares of our common stock, par value $0.0001 per share, by a ratio of between one-for-four to one-for-forty, inclusive, with the exact ratio to be set at a whole number to be determined by our Board of Directors or a duly authorized committee thereof in its discretion, at any time after approval of the amendment and prior to July 24, 2026, and (B) determine whether to arrange for the disposition of fractional interests by shareholder entitled thereto, to pay in cash the fair value of fractions of a share of common stock as of the time when those entitled to receive such fractions are determined, or to entitle shareholder to receive from the Corporation’s transfer agent, in lieu of any fractional share, the number of shares of common stock rounded up to the next whole number (the “Reverse Split Proposal”). |
| 6. | To approve an Amendment to the Company’s Second Amended and Restated Certificate of Incorporation to increase the Company’s authorized number of shares of common stock from one hundred million (100,000,000) shares to one billion (1,000,000,000) shares. The Board of Directors recommends that you approve an Amendment to the Company’s Second Amended and Restated Certificate of Incorporation to increase the Company’s authorized number of shares of common stock from one hundred million (100,000,000) shares to one billion (1,000,000,000) shares (the “Authorized Share Increase Proposal”). |
| 7. | To ratify the appointment of M&K CPAs, PLLC, an independent registered public accounting firm, as the Company’s independent auditors for the fiscal year ending December 31, 2025. The Board of Directors recommends that you approve and ratify the appointment of M&K CPAs, PLLC as the Company’s independent auditors for the fiscal year ending December 31, 2025. |
| 8. | To approve the adjournment of the Annual Meeting, if necessary. The Board of Directors recommends that you approve the adjournment of the Annual Meeting, if necessary, to solicit additional proxies if there are not sufficient votes at the time of the Annual Meeting to approve the Reverse Split Proposal and/or Authorized Share Increase Proposal. |
| 9. | To transact such other business as may properly come before the annual meeting. |
THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR ALL” FOR PROPOSAL ONE, AND “FOR” PROPOSALS TWO THROUGH EIGHT.
Any action may be taken on any one of the foregoing proposals at the Meeting on the date specified above or on any date or dates to which the Meeting may be postponed or adjourned. We do not expect to transact any other business at the annual meeting. Our Board of Directors has fixed the close of business on June 30, 2025, as the record date for determining those stockholders entitled to vote at the annual meeting and any adjournment or postponement thereof. Accordingly, only common and preferred stock stockholders of record at the close of business on that date are entitled to notice of, and to vote at, the annual meeting.
We cordially invite you to attend the annual meeting. However, to ensure your representation at the annual meeting, please authorize the individuals named on your proxy card to vote your shares by calling the toll-free telephone number, faxing your proxy card or by using the Internet as described in the instructions included with your proxy card or voting instruction card. Alternatively, if you received a paper copy of the proxy card by mail, please complete, date, sign and promptly return the proxy card. This will not prevent you from voting at the meeting, but will help to secure a quorum and avoid added solicitation costs. If your shares are held in “street name” by your broker or other nominee, only that holder can vote your shares and the vote cannot be cast unless you provide instructions to your broker. You should follow the directions provided by your broker regarding how to instruct your broker to vote your shares. Your proxy may be revoked at any time before it is voted. Please review the proxy statement accompanying this notice for more complete information regarding the matters to be voted on at the meeting.
The enclosed proxy statement is first being mailed to stockholders on or about July 7, 2025, is also available athttps://www.iproxydirect.com/ATNF. This website also includes our Annual Report on Form 10-K for the year ended December 31, 2024, which we refer to as the 2024 Annual Report. Stockholders may also request a copy of the proxy statement and our annual report by contacting our main office at (650) 507-0669.
Even if you plan to attend the annual meeting, we request that you submit a proxy by following the instructions on your proxy card as soon as possible and thus ensure that your shares will be represented at the annual meeting if you are unable to attend.
If you have any questions or require any assistance with voting your shares, please contact our proxy agent, Issuer Direct Corporation at (919) 481-4000, or 1-866-752-VOTE (8683).
By Order of the Board of Directors:
/s/ Blair Jordan
Blair Jordan
Chief Executive Officer and Director
Palo Alto, California
July 7, 2025
IMPORTANT: WHETHER OR NOT YOU PLAN TO ATTEND THE ANNUAL MEETING, WE ASK YOU TO VOTE BY TELEPHONE, MAIL, FAX OR ON THE INTERNET USING THE INSTRUCTIONS ON THE PROXY CARD.
TABLE OF CONTENTS
| General Information | 1 | |
|---|---|---|
| Information Contained in this Proxy Statement | 1 | |
| Instructions For The Virtual Annual Meeting | 1 | |
| Questions During the Annual Meeting | 1 | |
| Technical Difficulties or Trouble Accessing the Virtual Meeting Website | 2 | |
| Record Date and Shares Entitled to Vote | 2 | |
| Voting Process | 2 | |
| Providing and Revoking Proxies | 3 | |
| Meeting Time and Location: Virtual Annual Meeting | 3 | |
| Conduct at the Meeting | 3 | |
| Voting Requirements for Each of the Proposals | 4 | |
| Quorum | 5 | |
| Board of Directors Voting Recommendations | 5 | |
| Mailing Costs and Solicitation of Proxies | 6 | |
| Inspector of Voting | 6 | |
| Stockholders Entitled to Vote at the Meeting | 6 | |
| Voting Instructions | 6 | |
| Confidential Voting | 6 | |
| Stockholder of Record and Shares Held in Brokerage Accounts | 7 | |
| Multiple Stockholders Sharing the Same Address | 7 | |
| Voting Results | 7 | |
| Company Mailing Address | 7 | |
| Other Matters | 7 | |
| Background of the Company | 8 | |
| Prior Reverse Stock Splits | 8 | |
| Definitions | 8 | |
| Forward-Looking Statements and Website Links | 9 | |
| Incorporation by Reference | 9 | |
| References to Additional Information | 9 | |
| Voting Rights and Principal Stockholders | 10 | |
| Security Ownership of Management and Certain Beneficial Owners and Management | 10 | |
| Change of Control | 12 | |
| Corporate Governance | 13 | |
| Board Leadership Structure | 13 | |
| Risk Oversight | 13 | |
| Family Relationships | 14 | |
| Other Directorships | 14 | |
| Involvement in Certain Legal Proceedings | 14 | |
| Board of Directors Meetings | 15 | |
| Board Committee Membership | 15 | |
| Audit Committee | 15 | |
| Compensation Committee | 16 | |
| Compensation Committee Interlocks and Insider Participation | 17 | |
| Nominating and Governance Committee | 17 | |
| Strategy and Alternatives, Risk, Safety and Regulatory Committee | 18 | |
| Website Availability of Documents | 18 | |
| Stockholder Communications with the Board of Directors | 18 | |
| Lead Independent Director | 19 |
i
| Executive Sessions of the Board of Directors | 19 | |
| Code of Ethics | 19 | |
| Policy on Equity Ownership | 19 | |
| Rule 10b5-1 Trading Plans | 19 | |
| Compensation Recovery and Clawback Policies | 19 | |
| Insider Trading/Anti-Hedging Policies | 20 | |
| Policy on Timing of Award Grants | 21 | |
| Director Independence | 21 | |
| Audit Committee Report | 22 | |
|---|---|---|
| Information About Our Executive Officers and Directors | 23 | |
| Executive Officers | 23 | |
| Classified Board of Directors | 23 | |
| Director Nominees | 24 | |
| Continuing Directors | 26 | |
| Director Qualifications | 27 | |
| Executive and Director Compensation | 27 | |
| Summary Executive Compensation Table | 27 | |
| Bonuses | 29 | |
| Current Compensation Agreements | 29 | |
| Jordan Consulting Agreement | 29 | |
| EVL Consulting Agreement | 32 | |
| Prior Employment Agreements | 33 | |
| James N. Woody Amended and Restated Employment Agreement (terminated); and Separation Agreement | 33 | |
| Dr. Rothbard’s Employment Agreement (terminated); and Separation Agreement | 35 | |
| Ozan Pamir Katexco Employment Agreement (Terminated) | 35 | |
| Ozan Pamir Company Employment Agreement (Terminated) | 36 | |
| Quan Anh Vu Executive Employment Agreement (terminated); and Separation Agreement | 36 | |
| Description of Material Consulting Agreements | 37 | |
| Service Agreement with Prof. Sir Marc Feldmann (former Co-Executive Chairman)(Terminated) | 37 | |
| Consultancy Agreement and Consulting Agreement with Prof. Lawrence Steinman | 39 | |
| Prof. Jagdeep Nanchahal Consulting Agreement | 40 | |
| Payment of Back Pay; 2021 Bonuses and Increases in Salaries | 42 | |
| 2024 Accruals | 42 | |
| 2022, 2023 and 2024 Bonuses | 42 | |
| Pay Versus Performance | 43 | |
| Relationship Between “Compensation Actually Paid” and Performance | 46 | |
| Compensation Actually Paid and Net Loss | 46 | |
| Compensation Actually Paid and Cumulative TSR | 46 | |
| Outstanding Equity Awards at Fiscal Year End | 47 | |
| Potential Payments Upon Termination | 47 | |
| Director Compensation | 48 | |
| Board of Director Fees | 49 | |
| Release Agreement | 49 | |
| Accelerated Vesting of February 2025 RSU Awards | 50 | |
| June 2025 Option Grants | 50 | |
| June 2025 Restricted Stock Awards | 50 | |
| Equity Compensation Plan Information | 51 | |
| 2020 Omnibus Incentive Plan | 51 | |
| 2022 Omnibus Incentive Plan | 51 | |
| Certain Relationships and Related Party Transactions | 52 | |
| Related Party Agreements | 52 | |
| Service Agreement with Prof. Sir Marc Feldmann | 52 | |
| Prof. Jagdeep Nanchahal Consulting Agreement | 53 | |
| Prof. Lawrence Steinman Consultancy Agreement and Consulting Agreement | 53 |
ii
| Jordan Consulting Agreement | 53 | |
| EVL Consulting Agreement | 53 | |
| Voting Agreements | 53 | |
| Conversion of Series B Convertible Preferred Stock | 54 | |
| Elray and Luxor Settlement Agreement | 54 | |
| General and Administrative - Related Parties | 55 | |
| Accounts Payable - Related Parties | 55 | |
| Research and Development Expenses – Related Parties | 55 | |
| Release Agreement with Jay Goodman | 55 | |
| Accelerated RSU Vesting, RSU Grants and Option Grants | 55 | |
| Related Party Litigation | 56 | |
| Action Against Former Executive of KBL | 56 | |
| Action Against the Company by Dr. Krauss | 56 | |
| Action Against Tyche Capital LLC | 57 | |
| Action Against Ronald Bauer & Samantha Bauer | 58 | |
| Declaratory Relief Action Against the Company by AmTrust International | 58 | |
| Indemnification Agreements | 60 | |
| Related Party Transaction Policy | 60 | |
| Delinquent Section 16(a) Reports | 60 | |
|---|---|---|
| Proposal 1 Election of Directors | 61 | |
| General | 61 | |
| General Director Qualifications | 61 | |
| What Vote Is Required To Elect the Director Nominees | 61 | |
| Board Recommendation | 61 | |
| Proposal 2 Adoption of the Fourth Amendment to the 180 Life Sciences Corp. 2022 Omnibus Incentive Plan | 62 | |
| General | 62 | |
| Background and Purpose of the Amended Plan | 62 | |
| Current Overview of Outstanding Equity Information | 63 | |
| Summary of the Material Terms of the Amended Plan | 63 | |
| Federal Income Tax Consequences | 68 | |
| Vote Required | 70 | |
| Board Recommendation | 70 | |
| PROPOSAL 3 APPROVAL OF THE 180 LIFE SCIENCES CORP. 2025 OPTION INCENTIVE PLAN | 71 | |
| General | 71 | |
| 2025 Plan Option Grants | 71 | |
| Background and Purpose of the 2025 Plan | 72 | |
| Summary of the Material Terms of the 2025 Plan | 72 | |
| Federal Income Tax Consequences | 75 | |
| Effect of Approval | 77 | |
| Vote Required | 77 | |
| Board Recommendation | 77 | |
| Proposal 4 Approval of an Advisory Resolution on Named Executive Officer Compensation | 78 | |
| General | 78 | |
| Vote Required | 78 | |
| Board Recommendation | 78 | |
| Proposal 5 Amendment to Second Amended and Restated Certificate of Incorporation, as Amended, to Effect a Reverse Stock Split | 79 | |
| General | 79 | |
| Purpose | 79 | |
| Accounting Matters | 82 | |
| Risks of the Proposed Reverse Stock Split | 82 | |
| Principal Effects of the Reverse Stock Split | 83 | |
| Fractional Shares | 87 | |
| Determination of the Reverse Stock Split Ratio | 87 | |
| Potential Consequences if the Reverse Split Proposal is Not Approved | 88 | |
| Effective Date and Time of the Reverse Stock Split | 88 | |
| No Dissenters’ Rights | 88 | |
| Certain United States Federal Income Tax Consequences | 89 | |
| Exchange of Stock Certificates | 91 | |
| Book-Entry Shares | 92 | |
| Interests of Directors and Executive Officers | 92 | |
| Vote Required | 92 | |
| Board Recommendation | 92 |
iii
| Proposal 6 Approval of an Amendment to Our Second Amended and Restated Certificate of Incorporation to Increase the Company’s Authorized Number of Shares of Common Stock From One Hundred Million (100,000,000) to One Billion (1,000,000,000) | 93 | |
|---|---|---|
| General | 93 | |
| Reasons for the Amendment | 93 | |
| Summary Table of Potential Effects of Authorized Share Increase | 95 | |
| No Dissenters’ Rights | 96 | |
| Effective Time and Implementation of the Authorized Shares Increase Amendment | 96 | |
| Vote Required | 96 | |
| Board Recommendation | 96 | |
| Proposal 7 Ratification of Appointment of Auditors | 96 | |
| Change in Independent Registered Public Accounting Firm | 96 | |
| Principal Accounting Fees and Services | 97 | |
| Audit Committee Policy for Pre-approval of Independent Registered Public Accounting Firm Services | 98 | |
| Pre-Approval Policies | 98 | |
| Vote Required | 98 | |
| Board Recommendation | 98 | |
| Proposal 8 Adjournment of the Annual Meeting to Solicit Additional Proxies | 99 | |
| Overview | 99 | |
| Vote Required | 99 | |
| Board Recommendation | 99 | |
| Other Matters | 100 | |
| Proposals for 2026 Annual Meeting of Stockholders and 2026 Proxy Materials | 100 | |
| Proxy Statement Proposals | 100 | |
| Other Proposals and Nominations | 100 | |
| Additional Filings | 101 | |
| Other Matters to be Presented at the Annual Meeting | 101 | |
| Interest of Certain Persons in or Opposition to Matters to Be Acted Upon: | 101 | |
| Incorporation by Reference | 102 | |
| Company Contact Information | 102 |
iv
Appendixes:
| Appendix A | — | Fourth Amendment to the 180 Life Sciences Corp. 2022 Omnibus Incentive Plan |
|---|---|---|
| Appendix B | — | Fourth Amended and Restated 180 Life Sciences Corp. 2022 Omnibus Incentive Plan |
| Appendix C | — | 180 Life Sciences Corp. 2025 Option Incentive Plan |
| Appendix D | — | Form of Certificate of Amendment of Second Amended and Restated Certificate of Incorporation of 180 Life Sciences Corp. in Connection with the Reverse Stock Split Proposal |
| Appendix E | — | Form of Certificate of Amendment of Second Amended and Restated Certificate of Incorporation of 180 Life Sciences Corp. in Connection with the Authorized Share Increase Proposal |
v
**PROXY STATEMENT
FOR 2025 ANNUAL MEETING OF STOCKHOLDERS
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.