Securities Registration: Employee Benefit Plan (s-8)
March 10 2017 - 5:09PM
Edgar (US Regulatory)
As filed with the Securities and Exchange Commission on March 10, 2017
Registration
No. 333-
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
S-8
REGISTRATION STATEMENT
Under
The
Securities Act of 1933
IMPINJ, INC.
(Exact
name of Registrant as specified in its charter)
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Delaware
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91-2041398
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(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer
Identification Number)
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400 Fairview Avenue North, Suite 1200
Seattle, Washington 98109
(Address of principal executive offices, including zip code)
2016 Equity Incentive Plan
2016 Employee Stock Purchase Plan
(Full title of the plan)
Chris Diorio,
Ph.D.
Chief Executive Officer
400 Fairview Avenue North, Suite 1200
Seattle, Washington 98109
(206)
517-5300
(Name, address and telephone number, including area code, of agent for service)
Copies to:
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Patrick J. Schultheis
Michael Nordtvedt
Jeana
S. Kim
Wilson Sonsini Goodrich & Rosati
Professional Corporation
701 Fifth Avenue, Suite 5100
Seattle, Washington 98104-7036
(206)
883-2500
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Yukio Morikubo
General Counsel
Impinj,
Inc.
400 Fairview Avenue North, Suite 1200
Seattle, Washington 98109
(206)
517-5300
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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated
filer, or a smaller reporting company. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule
12b-2
of the Exchange Act.
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Large accelerated filer
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☐
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Accelerated filer
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☐
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Non-accelerated filer
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☒ (Do not check if a smaller reporting company)
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Smaller reporting company
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☐
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CALCULATION OF REGISTRATION FEE
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Title of Securities
to be Registered
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Amount
to be
Registered(1)
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Proposed
Maximum
Offering Price
Per
Share
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Proposed
Maximum
Aggregate
Offering Price
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Amount of
Registration Fee
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Common stock, $0.001 par value per share:
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Reserved for issuance under the 2016 Equity Incentive
Plan
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1,016,777(2)
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$28.00(4)
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$28,469,756.00
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$3,300.00
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Reserved for issuance under the 2016 Employee Stock
Purchase Plan
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203,355(3)
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$23.80(5)
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$4,839,859.00
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$561.00
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TOTAL:
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1,220,132
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$33,309,615.00
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$3,861.00
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(1)
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Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the Securities Act), this Registration Statement shall also cover any additional shares of the Registrants common stock that become
issuable under the 2016 Equity Incentive Plan (the 2016 Plan) and the 2016 Employee Stock Purchase Plan (the 2016 ESPP) by reason of any stock dividend, stock split, recapitalization or other similar transaction effected
without receipt of consideration that increases the number of the Registrants outstanding shares of common stock.
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(2)
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Reflects an automatic annual increase to the number of shares of Common Stock reserved for issuance pursuant to future awards under the 2016 Equity Incentive Plan (the 2016 Plan), which annual increase is
provided for in the 2016 Plan
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(3)
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Reflects an automatic annual increase to the number of shares of Common Stock reserved for issuance under the 2016 Employee Stock Purchase Plan (the ESPP), which annual increase is provided for in the ESPP.
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(4)
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Estimated in accordance with Rules 457(c) and 457(h) of the Securities Act solely for purposes of calculating the registration fee on the basis of $28.00, the average of the high and low prices of the Common Stock, as
reported on the NASDAQ Global Market March 9, 2017.
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(5)
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Estimated in accordance with Rules 457(c) and 457(h) of the Securities Act solely for purposes of calculating the registration fee on the basis of 85% of $28.00, the average of the high and low prices of the Common
Stock, as reported on the NASDAQ Global Market March 9, 2017. Pursuant to the 2016 ESPP, the purchase price of the shares of common stock reserved for issuance thereunder will be 85% of the lower of the fair market value of the common stock on
(i) the first trading day of the offering period or (ii) the exercise date.
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Proposed sale to take place as soon
after the effective date of the Registration Statement as awards under the plans are granted, exercised and/or vest.
EXPLANATORY NOTE
This Registration Statement on Form
S-8
is filed for the purpose of registering
(1) 1,016,777 shares of common stock, par value $0.001 per share (Common Stock), of Impinj, Inc. (the Registrant) that may be issued pursuant to the Registrants 2016 Equity Incentive Plan and
(2) 203,355 shares of Common Stock that may be issued pursuant to the Registrants 2016 Employee Stock Purchase Plan, in each case as a result of an automatic annual increase provided for by the 2016 Equity Incentive Plan and 2016
Employee Stock Purchase Plan.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The information specified in Item 1 and Item 2 of Part I of Form
S-8
is omitted from this Registration
Statement on Form
S-8
(the Registration Statement) in accordance with the provisions of Rule 428 under the Securities Act of 1933, as amended (the Securities Act), and the introductory
note to Part I of Form
S-8.
The documents containing the information specified in Part I of Form
S-8
will be delivered to the participants in the equity benefit plans
covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act.
PART II
INFORMATION REQUIRED IN REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The Registrant hereby incorporates by reference into this Registration Statement the following documents previously filed with the Securities
and Exchange Commission (the Commission):
(1) The Registrants Annual Report on Form
10-K
for the fiscal year ended December 31, 2016, filed with the Commission on March 3, 2017;
(2) The Registrants Current Report on
Form 8-K
filed with the Commission on
February 16, 2017 except to the extent that information therein is furnished and not filed with the Commission; and
(3) The
description of the Registrants Common Stock contained in the Companys Registration Statement on Form
8-A
(File
No. 001-37824)
filed with the Commission
on July 11, 2016, pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended (the Exchange Act), including any amendment or report filed for the purpose of updating such description.
All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act on or after the date of this
Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold shall be deemed to be
incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents;
provided
,
however
, that documents or information deemed to have been furnished and not filed in accordance with
the rules of the Commission shall not be deemed incorporated by reference into this Registration Statement. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be
modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document which also is deemed to be incorporated by
reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of
Named Experts and Counsel.
The validity of the issuance of the shares of the Registrants common stock offered hereby has been
passed upon by Wilson Sonsini Goodrich & Rosati, P.C. Certain members of, and investment partnerships comprised of members of, and persons associated with Wilson Sonsini Goodrich & Rosati, P.C. own an aggregate of 3,380 shares of
the Registrants capital stock, representing less than 1% of all outstanding shares of Registrants capital stock.
Item 6.
Indemnification of Directors and Officers.
Section 145 of the Delaware General Corporation Law empowers a corporation to
indemnify its directors and officers and to purchase insurance with respect to liability arising out of their capacity or status as directors and officers, provided that the person acted in good faith and in a manner the person reasonably believed
to be in our best interests, and, with respect to any criminal action, had no reasonable cause to believe the persons actions were unlawful. The Delaware General Corporation Law further provides that the indemnification permitted thereunder
shall not be deemed exclusive of any other rights to which the directors and officers may be entitled under the corporations bylaws, any agreement, a vote of stockholders or otherwise. The certificate of incorporation of the Registrant to be
in effect upon the completion of this offering provides for the indemnification of the Registrants directors and officers to the fullest extent permitted under the Delaware General Corporation Law. In addition, the bylaws of the Registrant
require the Registrant to fully indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by reason of the fact that such person is or was a director, or officer of the
Registrant, or is or was a director or officer of the Registrant serving at the Registrants request as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses
(including attorneys fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, to the fullest extent permitted by applicable law.
Section 102(b)(7) of the Delaware General Corporation Law permits a corporation to provide in its certificate of incorporation that a director
of the corporation shall not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except (1) for any breach of the directors duty of loyalty to the corporation or its
stockholders, (2) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (3) for payments of unlawful dividends or unlawful stock repurchases or redemptions or (4) for any
transaction from which the director derived an improper personal benefit. The Registrants certificate of incorporation provides that the Registrants directors shall not be personally liable to the Registrant or its stockholders for
monetary damages for breach of fiduciary duty as a director and that if the Delaware General Corporation Law is amended to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of the
Registrants directors shall be eliminated or limited to the fullest extent permitted by the Delaware General Corporation Law, as so amended.
Section 174 of the Delaware General Corporation Law provides, among other things, that a
director who willfully or negligently approves of an unlawful payment of dividends or an unlawful stock purchase or redemption may be held liable for such actions. A director who was either absent when the unlawful actions were approved, or
dissented at the time, may avoid liability by causing his or her dissent to such actions to be entered in the books containing minutes of the meetings of the board of directors at the time such action occurred or immediately after such absent
director receives notice of the unlawful acts.
As permitted by the Delaware General Corporation Law, the Registrant has entered into
separate indemnification agreements with each of the Registrants directors and certain of the Registrants officers which require the Registrant, among other things, to indemnify them against certain liabilities which may arise by reason
of their status as directors, officers or certain other employees.
The Registrant expects to obtain and maintain insurance policies under
which its directors and officers are insured, within the limits and subject to the limitations of those policies, against certain expenses in connection with the defense of, and certain liabilities which might be imposed as a result of, actions,
suits or proceedings to which they are parties by reason of being or having been directors or officers. The coverage provided by these policies may apply whether or not the Registrant would have the power to indemnify such person against such
liability under the provisions of the Delaware General Corporation Law.
These indemnification provisions and the indemnification
agreements entered into between the Registrant and the Registrants officers and directors may be sufficiently broad to permit indemnification of the Registrants officers and directors for liabilities (including reimbursement of expenses
incurred) arising under the Securities Act of 1933.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
The Exhibit Index to this Registration Statement is incorporated herein by reference as the list of exhibits required as part of this
Registration Statement.
Item 9. Undertakings.
A. The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration
Statement:
(i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;
(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the
most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in the volume
of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed
with the
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Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the
Calculation of Registration Fee table in the effective Registration Statement;
(iii) To include any material
information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement.
Provided
,
however
, that paragraphs (A)(1)(i) and (A)(1)(ii) do not apply if the information required to be
included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in this Registration Statement.
(2) That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide
offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities being
registered which remain unsold at the termination of the offering.
B. The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the Registrants annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee
benefit plans annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
C. Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the provisions described under Item 6Indemnification of Directors
and Officers, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of
any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel, the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form
S-8
and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in City of Seattle, State of Washington, on
the 10th day of March, 2017.
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Impinj, Inc.
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By:
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/s/ Evan Fein
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Evan Fein
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Chief Financial Officer
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POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Chris Diorio, Ph.D. and Evan Fein as his or her
true and lawful
attorneys-in-fact
and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all
capacities (including his or her capacity as a director or officer of Impinj, Inc.) to sign any or all amendments (including post-effective amendments) to this registration statement, and to file the same, with all exhibits thereto, and all other
documents in connection therewith, with the SEC, granting unto said
attorneys-in-fact
and agents, and each of them, full power and authority to do and perform each and
every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as they, he or she might or could do in person, hereby ratifying and confirming all that said
attorney-in-fact
and agents or any of them, or their, his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement on Form
S-8
has been signed by
the following persons in the capacities and on the dates indicated.
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Signature
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Title
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Date
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/s/ Chris Diorio
Chris Diorio, Ph.D.
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Chief Executive Officer and Vice Chairman
(
Principal Executive Officer
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March 10, 2017
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/s/ Evan Fein
Evan Fein
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Chief Financial Officer
(
Principal Accounting and Financial Officer
)
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March 10, 2017
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/s/ Peter van Oppen
Peter van Oppen
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Chairman
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March 10, 2017
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/s/ Tom A. Alberg
Tom A. Alberg
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Director
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March 10, 2017
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/s/ Clinton Bybee
Clinton Bybee
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Director
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March 10, 2017
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/s/ Gregory Sessler
Gregory Sessler
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Director
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March 10, 2017
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/s/ Theresa Wise
Theresa Wise
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Director
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March 10, 2017
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INDEX TO EXHIBITS
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Exhibit
Number
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Exhibit Description
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Form
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Incorporated by
Reference
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Filing Date
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File No.
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Exhibit
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4.1
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2016 Equity Incentive Plan
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S-1/A
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333-211779
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10.7
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July 11, 2016
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4.2
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Form of Notice of Stock Option Grant and Stock Option Agreement under the 2016 Equity Incentive Plan
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S-1/A
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333-211779
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10.8
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July 11, 2016
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4.3
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2016 Employee Stock Purchase Plan
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S-1/A
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333-211779
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10.9
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July 11, 2016
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5.1
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Opinion of Wilson Sonsini Goodrich & Rosati, Professional Corporation.
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23.1
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Consent of Independent Registered Public Accounting Firm.
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23.2
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Consent of Wilson Sonsini Goodrich & Rosati, Professional Corporation (contained in Exhibit 5.1 hereto).
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24.1
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Power of Attorney (contained on signature page hereto).
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