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ImmunityBio, Inc.

For the period ended Jun 11, 2024. Filed Apr 29, 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.

Jun 11, 2024 · Filed Apr 29, 2024

IBRX$8.64+7.8%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A INFORMATION

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

(Name of Registrant as Specified in its Charter)

(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.

To our Stockholders:

We are pleased to invite you to attend the 2024 annual meeting of stockholders (the Annual Meeting) of ImmunityBio, Inc. to be held on Tuesday, June 11, 2024 at 9:30 a.m. Pacific Time, or at any adjournment or postponement thereof. The Annual Meeting will be a virtual meeting of stockholders. You will be able to attend the Annual Meeting and vote your shares via Internet Webcast atvirtualshareholdermeeting.com/IBRX2024 by entering the 16-digit control number (Control Number) included in our Notice of Internet Availability of Proxy Materials, on your proxy card, or in the instructions that accompanied your proxy materials. Questions will need to be submitted prior to the Annual Meeting. To submit questions, please visit proxyvote.comwith your 16 digit Control Number. You will not be able to attend the Annual Meeting in person.

We have elected to provide access to our proxy materials over the Internet under the United States Securities and Exchange Commission’s (SEC) “notice and access” rules. We believe these rules allow us to provide you with the information you need while reducing our delivery costs and the environmental impact of the Annual Meeting. The board of directors (Board) has fixed the close of business on April 17, 2024 as the record date (Record Date) for the determination of stockholders entitled to notice of, and to vote at, the Annual Meeting and at any adjournment or postponement thereof. Our Notice of Internet Availability of Proxy Materials is being mailed to stockholders entitled to vote at the meeting on or about May 1, 2024.

Your vote is important. Whether or not you expect to attend the Annual Meeting via Internet Webcast, please vote at your earliest convenience. You may vote over the Internet, by telephone or, if you request to receive printed proxy materials, by mailing a proxy or voting instruction form. You may also vote your shares during the Annual Meeting. Submitting your proxy in advance of the Annual Meeting will not prevent you from voting your shares at the Annual Meeting, as your proxy is revocable at your option as described in the proxy statement accompanying this notice. Please review the instructions regarding each of your voting options described in the proxy statement, as well as in the Notice of Internet Availability of Proxy Materials or proxy card you received by mail.

Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting: The accompanying proxy statement and our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (Annual Report) are available to view and download atproxyvote.com.

Thank you for your ongoing support of, and continued interest in, ImmunityBio, Inc.

Sincerely,

Richard Adcock

Chief Executive Officer and President

May 1, 2024

3530 John Hopkins Court San Diego, CA 92121

Office: +1-844-696-5235 Email: info@ImmunityBio.com

Notice of Annual Meeting of Stockholders

Date and Time:Tuesday, June 11, 2024 at 9:30 a.m. Pacific Time.
Internet Availability ofProxy Materials:Under rules adopted by the SEC, we may furnish proxy materials, including this proxy statement and our Annual Report by providing access to such documents on the Internet instead of mailing printed copies. Most of you will not receive printed copies of the proxy materials unless you request them. Instead, the Notice of Internet Availability of Proxy Materials, which was mailed to most of you, will instruct you as to how you may access and review all of the proxy materials on the Internet. The Notice of Internet Availability of Proxy Materials also instructs you as to how you may submit your proxy on the Internet. If you would like to receive printed copies of our proxy materials by mail, please follow the instructions in the Notice of Internet Availability of Proxy Materials for requesting such materials. If you request printed copies of the proxy materials by mail, the materials you receive will include the proxy card or voting instruction form for the Annual Meeting. A copy of our proxy statement and our Annual Report are also posted on proxyvote.com, and are available from the SEC on its website at sec.gov.
Webcast Address:virtualshareholdermeeting.com/IBRX2024
Items of Business:1.To elect nine directors from the nominees named in the accompanying proxy statement to serve until our 2025 annual meeting of stockholders and until their respective successors are duly elected and qualified or until their earlier resignation or removal.2.To approve an amendment to the ImmunityBio, Inc. 2015 Equity Incentive Plan (“2015 Plan”) to increase the number of shares of the company’s common stock authorized for issuance under the plan by 19,900,000 shares. 3.To approve, on an advisory (non-binding) basis, the compensation of our Named Executive Officers (“Say-on-Pay”).4.To ratify the selection of Ernst & Young LLP as ImmunityBio’s independent registered public accounting firm for the fiscal year ending December 31, 2024.5.To transact other business that may properly come before the Annual Meeting.
Record Date:Only stockholders of record of our common stock as of the close of business on Wednesday, April 17, 2024, are entitled to receive notice of, and vote at the Annual Meeting and any continuation, postponement, or adjournment thereof.
Meeting Admission:You are invited to attend the Annual Meeting via Internet Webcast if you are a stockholder of record or a beneficial owner of shares of our common stock, in each case, as of April 17, 2024. You will be able to attend the Annual Meeting via Internet Webcast at virtualshareholdermeeting.com/IBRX2024 by entering the 16-digit Control Number included in our Notice of Internet Availability of Proxy Materials, on your proxy card, or in the instructions that accompanied your proxy materials.

By Order of the Board of Directors,

Jason Liljestrom

Corporate Secretary

San Diego, California

May 1, 2024

Table of Contents
Page
PROXY STATEMENT1
Questions and Answers about the Proxy Materials and Annual Meeting1
PROPOSAL 1 – ELECTION OF DIRECTORS7
Nominees for Director7
Board Recommendation7
Director Biographies8
CORPORATE GOVERNANCE11
Composition of the Board11
Board Leadership Structure11
The Board’s Role in Risk Oversight12
Board Meetings12
Communication with the Board13
Board Committees and Charters13
Audit Committee14
Compensation Committee14
Nominating and Corporate Governance Committee15
Related Party Transaction Committee15
Special Committee15
Board Diversity16
Process for Selecting Directors and Director Qualifications16
Director Independence17
Prohibited Trading Activities18
Compensation Committee Interlocks and Insider Participation18
PROPOSAL 2 – APPROVAL OF AMENDMENT TO INCREASE THE NUMBER OF SHARES OF COMMON STOCK AUTHORIZED FOR ISSUANCE UNDER THE 2015 PLAN19
Board Recommendation25
PROPOSAL 3 – “SAY-ON-PAY” VOTE26
Board Recommendation26
EXECUTIVE COMPENSATION27
Our Current Named Executive Officers27
Processes and Procedures for Executive Compensation27
Employment Arrangements with Our Current Named Executive Officers28
Merger or Change in Control30
Other Compensation Policies31
Tax and Accounting Considerations31
Executive Compensation Clawback Policy31
EXECUTIVE COMPENSATION TABLES32
Summary Compensation Table32
All Other Compensation – Other Compensation and Perquisites33
Grants of Plan-Based Awards33
Outstanding Equity Awards at Fiscal Year-End34
Option Exercises and Stock Vested35
EQUITY COMPENSATION PLAN INFORMATION35
DIRECTOR COMPENSATION36
2023 Director Compensation Policy36
Other Compensation Details36
Equity Awards37

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Non-Employee Director Stock Ownership Policy37
Director Compensation Table38
PAY VERSUS PERFORMANCE39
Pay Versus Performance Table39
Narrative Disclosure to Pay Versus Performance Table41
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT42
PROPOSAL 4 – RATIFICATION OF SELECTION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS45
Board Recommendation45
AUDIT MATTERS46
Audit Committee Report46
Fees Paid to Independent Registered Public Accounting Firm47
CERTAIN RELATIONSHIPS AND RELATED-PARTY TRANSACTIONS48
Cambridge Investment48
Related-Party Debt49
Other Related-Party Agreements and Arrangements57
Indemnification Agreements61
Policies for Approval of Related-Party Transactions61
OTHER MATTERS62
Stockholder Proposals for the 2025 Annual Meeting62
Availability of Bylaws63
Code of Global Business Conduct and Ethics63
Householding of Proxy Materials63
No Incorporation by Reference63
APPENDIX A: IMMUNITYBIO, INC. 2015 EQUITY INCENTIVE PLANA-1

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