Adaptive Biotechnologies (ADPT) Proxy filing summary

Executive summary

• The 2026 Annual Meeting will be held virtually on June 5, 2026, with shareholders voting on director elections, executive compensation, and auditor ratification.

• 2025 revenue reached $277.0 million, up from $179.0 million in 2024, driven by 46% growth in the MRD business.

• Net cash used in operations decreased by 52% year-over-year, and cash reserves stood at $227.2 million at year-end.

• The company expanded MRD test volume and payor coverage, entered new agreements with Pfizer, and advanced its TCR platform.

• Environmental and social initiatives included a B rating from CDP, LEED-certified headquarters, and expanded employee development programs.

Voting matters and shareholder proposals

• Shareholders will vote to elect two Class I directors (Robert Hershberg, PhD, MD and Katey Owen, PhD) for three-year terms.

• Advisory approval of 2025 executive compensation (say-on-pay) and ratification of Ernst & Young LLP as independent auditor for 2026 are on the agenda.

• No other shareholder proposals or nominations were received for this meeting.

Board of directors and corporate governance

• The board consists of five members divided into three staggered classes, with a lead independent director presiding over executive sessions.

• All directors except the CEO are independent; board committees include audit, compensation and human capital, and nominating and corporate governance.

• Board members bring expertise in biotechnology, finance, commercialization, and global expansion.

• The board has adopted governance guidelines and a code of conduct, and regularly reviews risk oversight and compliance.