Akoya Biosciences Announces Approval of Updated Indemnification Agreement for Directors and Officers

On December 11, 2024, Akoya Biosciences, Inc. (NASDAQ:AKYA) revealed that its Board of Directors had greenlit an updated form of indemnification agreement for the company’s non-employee directors and executive officers. The modifications within this updated agreement entail various significant changes aimed at enhancing protection for these key personnel.

Specifically, the amendments to the indemnification agreement include provisions such as an expanded definition of indemnifiable expenses, a mandate for the purchase of a six-year directors and officers (“D&O”) insurance tail in case of a Change in Control event, a requirement for securing D&O insurance coverage for indemnitees, additional clauses related to the determination rights of independent counsel indemnification, and clear amendments to the clawback indemnification preclusion provision.

Akoya Biosciences intends to enter into this Agreement with both its existing and upcoming non-employee directors and executive officers. It is outlined that the information provided is wholly detailed in the form attached as Exhibit 10.1 to the filing.

This Board-approved action signifies the company’s commitment to fortifying its governance structure and ensuring that its directors and officers are adequately protected. Such a move is crucial for maintaining stakeholder trust and fostering a robust corporate governance framework.

As per the requirements of the Securities Exchange Act of 1934, the report was officially signed by Brian McKelligon, the Chief Executive Officer of Akoya Biosciences, Inc., on December 13, 2024.

Investors and industry observers will be keen to see how these adjustments to the indemnification agreement will play out in the broader corporate landscape and how they will impact the company’s operations moving forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Akoya Biosciences’s 8K filing here.

Akoya Biosciences Company Profile

Akoya Biosciences, Inc, a life sciences technology company, provides spatial biology solutions focused on transforming discovery and clinical research in North America, the Asia Pacific, Europe, the Middle East, and Africa. The company offers PhenoCycler instrument, a compact bench-top fluidics system that integrates with a companion microscope to automate image acquisition; and PhenoImager platform that enables researchers to visualize, analyze, quantify, and phenotype cells in situ, in fresh frozen or FFPE tissue sections, and tissue microarrays utilizing an automated and high-throughput workflow.