secwatch.observer — SEC 8-K summary
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Issuer:     ALX ONCOLOGY HOLDINGS INC (ALXO)
CIK:        0001810182
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0000950170-24-052093
Event type: leadership
Sentiment:  negative
Materiality: 0.55
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

ALX Oncology loses two directors; board drops below majority independent; cure period triggered
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- Jack Nielsen resigned April 28 for health; Itziar Canamasas resigned April 30 due to new professional role.
- Board reduced to six directors, only three independent, breaching Nasdaq majority requirement.
- Company invokes 180-day cure period under Nasdaq Rule 5605(b)(1)(A) to restore independent majority.
- Scott Garland reclassified from Class III to Class II director, effective May 1.
- Audit, Compensation, and Governance committees reconstituted with Garland, Goodman, Hemrajani.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810182/000095017024052093/0000950170-24-052093-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810182/000095017024052093/alxo-20240428.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-052093

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