Summit appoints Manmeet Soni as COO; Soni invests $5M, receives 28M options

On October 13, 2023, the Company appointed Manmeet S. Soni as its Chief Operating Officer.

On October 13, 2023, Summit Therapeutics Inc. (the “Company”) entered into a Securities Purchase Agreement with Manmeet S. Soni pursuant to which Mr. Soni is investing $5,000,000 in the Company in exchange for 2,976,190 shares (the “Shares”) of the Company’s common stock (“Common Stock”), at a purchase price of $1.68 per share.

The Company held a Special Meeting of Stockholders (the “Special Meeting”) on October 12, 2023. The stockholders of the Company of record as of the close of business on September 18, 2023 were asked to vote on an amendment to the Summit Therapeutics Inc. 2020 Stock Incentive Plan (the “Plan”) to increase the number of shares of the Company’s common stock issuable under the Plan by 70,000,000 shares (the “Proposal”). The Proposal was approved at the Special Meeting by the requisite vote of the Company’s stockholders in accordance with the recommendation of the Company’s Board of Directors. Set forth below is the number of votes cast for, against or withheld, as well as the number of abstentions and broker non-votes, as to the Proposal: Proposal For Against Abstain Broker To approve an amendment to the Plan to increase the number of shares of the Company’s common stock issuable under the Plan by 70,000,000 shares. 567,632,197 7,904,039 167,675 —