[PRE 14A] PDS Biotechnology Corp Preliminary Proxy Statement

Rhea-AI Filing Summary

PDS Biotechnology Corporation is soliciting proxies for its virtual Annual Meeting of Stockholders to be held on August 10, 2026. The Board asks shareholders to vote on the election of two directors, an amendment to increase authorized common shares, ratification of the independent auditor, and an advisory vote on executive compensation.

The record date for voting was June 15, 2026, when 55,815,653 shares of common stock were outstanding. The proxy materials and the 2025 Annual Report on Form 10-K are being made available beginning on or about June 26, 2026. Voting instructions and virtual meeting access details are included in the distributed materials.

Insights

Corporate Governance Expert

Board seeks routine approvals and an increase in authorized shares; leadership structure remains split between Chairman and CEO.

The Board is asking stockholders to elect two incumbent directors and to approve an amendment to increase authorized common stock. The company maintains an independent Chairman and a three-committee structure (Audit, Compensation, Nominating).

Key governance items to watch in subsequent filings include final vote tallies and any disclosures tied to the charter amendment; timing of any equity-related actions will depend on the Board’s use of newly authorized shares.

Compensation & Remuneration Expert

Executive pay is heavily equity-based with suspended cash bonuses for 2025; severance protections are material for senior executives.

2025 CEO base salary was $615,322 and target bonus up to 55%; Compensation Committee exercised discretion to not pay annual cash bonuses for 2025. Equity plans (Third Restated Plan and Inducement Plan) provide significant share reserves and option grants.

Relevant items to monitor after the meeting: shareholder advisory vote on named executive officer pay and any post-meeting equity grants funded by authorized-share increases.

Key Figures

Annual Meeting Date: August 10, 2026 Record Date Shares Outstanding: 55,815,653 shares CEO Base Salary (2025): $615,322 +4 more

7 metrics

Annual Meeting Date August 10, 2026 virtual meeting access at www.virtualshareholdermeeting.com/PDSB2026

Record Date Shares Outstanding 55,815,653 shares as of June 15, 2026

CEO Base Salary (2025) $615,322 Frank Bedu-Addo, 2025 base salary

Net Loss (2025) ($34,495,505) Net loss for year ended December 31, 2025

Proxy Materials Available June 26, 2026 date proxy materials and 2025 Form 10-K were made available

CEO Target Bonus Up to 55% of Base Salary 2025 target bonus for CEO

Shares Available Under Third Restated Plan 3,741,247 shares available for grant under Third Restated Plan as of December 31, 2025

Key Terms

Record Date, Proxy Statement, Third Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan, Audit Committee Financial Expert, +1 more

5 terms

Record Date regulatory

"The record date for the Annual Meeting is June 15, 2026"

The record date is the specific day when a company determines which shareholders are eligible to receive a dividend or participate in an upcoming vote. It’s like a cutoff date; if you own the stock on that day, you get the benefits or voting rights. This date matters because it decides who qualifies for certain company benefits.

Proxy Statement regulatory

"This proxy statement includes information that we are required to provide to you by the Securities and Exchange Commission"

A proxy statement is a document companies send to shareholders ahead of a meeting that lays out the items up for a vote—like who will sit on the board, executive pay, and major corporate decisions—and provides background so shareholders can decide how to cast their votes or appoint someone to vote for them. Think of it as an agenda plus a ballot and briefing notes, important because the outcomes can change control, strategy, and value.

Third Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan financial

"On May 19, 2023, the Board adopted and on July 14, 2023, the stockholders approved, the Third Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan"

Audit Committee Financial Expert regulatory

"the Board has determined to be an “audit committee financial expert” within the meaning of SEC regulations"

A person on a company’s board who has deep knowledge of accounting, financial reporting and auditing, able to understand and question the books, controls and audit work like a trained mechanic inspecting an engine. Investors care because that expertise helps spot errors, weaknesses or misleading statements early, improving the likelihood that financial reports are accurate and reducing the risk of surprises that can hurt a company’s value.

Change in Control (Protection Period) regulatory

"Protection Period within ninety (90) days before and twenty-four (24) months following the effective date of a Change in Control"

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of

the Securities Exchange Act of 1934 (Amendment No.  )

Filed by the Registrant ☒

Filed by a Party other than the Registrant  ☐

Check the appropriate box:

☒			Preliminary Proxy Statement
☐			Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☐			Definitive Proxy Statement
☐			Definitive Additional Materials
☐			Soliciting Material under §240.14a-12

PDS BIOTECHNOLOGY CORPORATION

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

☒			No fee required.
☐			Fee paid previously with preliminary materials.
☐			Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.

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PDS Biotechnology Corporation

303A College Road East, Princeton, NJ 08540

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

To Be Held on August 10, 2026

Dear Stockholder:

You are cordially invited to attend the Annual Meeting of Stockholders (the “Annual Meeting”) of PDS Biotechnology Corporation, a Delaware corporation (the “Company”, “PDS”, or “PDS Biotech”). The Annual Meeting will be held on August 10, 2026, at 8 a.m. Eastern Time. The Annual Meeting will be held virtually via live webcast. Stockholders will be able to attend the Annual Meeting and submit questions and vote their shares during the Annual Meeting by visiting www.virtualshareholdermeeting.com/PDSB2026 and entering your 16-digit control number included in the Notice of Internet Availability of Proxy Materials, proxy card or voting instruction form that you receive. The Annual Meeting will be held for the following purposes:

1.
To elect two Class B directors of the Company, Kamil Ali-Jackson, J.D. and Ilian Iliev, Ph.D., each to hold office until the 2029 Annual Meeting of Stockholders or until their successors shall have been duly elected and qualified;

2.
To approve an amendment to our Eighth Amended and Restated Certificate of Incorporation, as amended, to increase the number of authorized shares of our common stock from 150,000,000 shares to 300,000,000 shares;

3.
To ratify the selection of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026;

4.
To approve, by non-binding, advisory vote, the compensation of our named executive officers; and

5.
To conduct any other business properly brought before the Annual Meeting or any adjournment thereof.

These items of business are more fully described in the proxy statement accompanying this notice. The record date for the Annual Meeting is June 15, 2026 (the “Record Date”). Only stockholders of record at the close of business on that date may vote at the Annual Meeting or any adjournment thereof.

This Notice of Annual Meeting and Proxy Statement are first being distributed or made available, as the case may be, on or about June 26, 2026. Whether or not you expect to attend the meeting, please vote over the telephone or on the internet, as instructed in these materials, or, if you receive a paper copy of the proxy card by mail, by returning your signed proxy card in the envelope provided as promptly as possible in order to ensure your representation at the meeting. Voting instructions are on your proxy card, voting instruction form and the Notice of Internet Availability of Proxy Materials and included in the accompanying proxy statement. Even if you have voted by proxy, you may still vote online if you attend the meeting via the internet.

Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of Stockholders to Be Held on August 10, 2026.

The Proxy Statement and Annual Report on Form 10-K for the year ended December 31, 2025 are available at www.proxyvote.com

By Order of the Board of Directors

/s/ Frank Bedu-Addo, Ph.D.

Chief Executive Officer

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			Page
About the Annual Meeting			1
Proposal No. 1 – Election of Directors			8
Corporate Governance			12
Executive Officers			17
Executive Compensation			19
Security Ownership of Certain Beneficial Owners and Management			31
Securities Authorized for Issuance under Equity Compensation Plans as of December 31, 2025			32
Certain Relationships and Related-Party Transactions			33
Proposal No. 2 – Approval of an Amendment to our Eight Amended and Restated Certificate of Incorporation to Increase the Number of Authorized Shares of Our Common Stock			34
Proposal No. 3 – Ratification of Selection of Independent Registered Public Accounting Firm			36
Proposal No. 4 – Advisory Vote on the Compensation of our Named Executive Officers			38
Householding of Proxy Materials			39
Other Matters			40
Appendix A – Certificate of Amendment to the Eighth Amended and Restated Certificate of Incorporation			A-1

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PDS Biotechnology Corporation

303A College Road East

Princeton, NJ 08540

PROXY STATEMENT

FOR THE 2026 ANNUAL MEETING OF STOCKHOLDERS

To be Held on August 10, 2026

ABOUT THE ANNUAL MEETING

QUESTIONS AND ANSWERS ABOUT PROCEDURAL MATTERS

Why am I receiving these proxy materials?

We are making these proxy materials available to you on or about June 26, 2026, because our board of directors (the “Board”) is soliciting your proxy to vote at the Annual Meeting to be held on Wednesday, August 10, 2026 at 8 a.m. Eastern Time, and at any adjournment or postponement thereof, for the purpose of considering and acting upon the matters set forth herein. This proxy statement includes information that we are required to provide to you by the Securities and Exchange Commission (“SEC”), and that is designed to assist you in voting your shares.

Why did I receive a notice in the mail regarding the internet availability of proxy materials instead of a paper copy of proxy materials?

The rules of the SEC permit us to furnish proxy materials, including this Proxy Statement and our 2025 Annual Report, to our stockholders by providing access to such documents on the internet instead of mailing printed copies. As a result, we are mailing most of our stockholders a paper copy of the Notice of Internet Availability of Proxy Materials (the “Notice and Access Card”), but not a paper copy of the proxy materials. This process allows us to provide our proxy materials to our stockholders in a timelier and more readily accessible manner, while reducing the environmental impact and lowering the costs of printing and distributing our proxy materials. Stockholders will not receive paper copies of the proxy materials unless they request them. Instead, the Notice and Access Card provides instructions on how to access and review on the internet all of the proxy materials. The Notice and Access Card also instructs you as to how to vote or provide a proxy to vote as instructed via the internet . If you would like to receive a paper or email copy of our proxy materials, you should follow the instructions for requesting such materials described in the Notice and Access Card.

Why did I receive a complete set of paper proxy materials in the mail instead of a Notice of Internet Availability of Proxy Materials?

We are providing stockholders who have previously requested to receive paper copies of the proxy materials with paper copies of the proxy materials instead of the Notice and Access Card. If you would like to reduce the environmental impact and the costs incurred by us in printing and distributing the proxy materials, you may elect to receive all future proxy materials electronically via email or the internet. To sign up for electronic delivery, please follow the instructions provided with your proxy materials and on your proxy card or voting instruction card.

What is included in the proxy materials?

The proxy materials include:

• This proxy statement for the Annual Meeting;

• PDS Biotech’s Annual Report on Form 10-K for the year ended December 31, 2025; and

• The proxy card or a voting instruction form for the Annual Meeting, if you have requested that the proxy materials be mailed to you.

How do I attend the Annual Meeting?

The Annual Meeting will be held on August 10, 2026, at 8 a.m. Eastern Time via a virtual stockholder meeting through which you can listen to the meeting, submit questions and vote online. The Annual Meeting can be accessed by visiting www.virtualshareholdermeeting.com/PDSB2026 and entering your 16-digit control number which is included

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in the Notice and Access Card, proxy card or voting instruction form that will be mailed to you. The virtual meeting platform is fully supported across browsers and devices running the most updated version of applicable software and plugins. Participants should ensure that they have a strong internet connection wherever they intend to participate in the meeting.

We recommend that you log in a few minutes before the Annual Meeting on August 10, 2026, to ensure you are logged in when the meeting starts. Online check-in will begin at 7:55 a.m. Eastern Time.

Can I ask questions at the Annual Meeting?

Stockholders participating in the virtual meeting may submit questions or comments during the meeting.

If you would like to submit a question, you may do so by joining the virtual Annual Meeting at www.virtualshareholdermeeting.com/PDSB2026 and typing your question in the box in the Annual Meeting portal.

To help ensure that we have a productive and efficient meeting, and in fairness to all stockholders in attendance, you will also find posted our rules of conduct for the Annual Meeting when you log in prior to its start. In accordance with the rules of conduct, we ask that you limit your remarks to one brief question or comment that is relevant to the Annual Meeting or our business and remarks that are respectful of your fellow stockholders and meeting participants. Questions may be grouped by topic by our management with a representative question read aloud and answered. In addition, questions may be ruled as out of order if they are, among other things, irrelevant to our business, related to pending or threatened litigation, disorderly, repetitious of statements already made, or in furtherance of the speaker’s own personal, political or business interests. Questions will be addressed in the Q&A portion of the Annual Meeting, as time permits.

What if I need technical assistance accessing or participating in the virtual Annual Meeting?

If you encounter any difficulties accessing the virtual Annual Meeting during the check-in or meeting time, please call the technical support number that will be posted on the virtual meeting login page. Technical support will be available starting at 7:55 a.m. Eastern Time on August 10, 2026.

Who can vote at the Annual Meeting?

Only stockholders of record at the close of business on the Record Date will be entitled to vote at the Annual Meeting. On the Record Date, there were 55,815,653 shares of common stock outstanding and entitled to vote.

Stockholder of Record: Shares Registered in Your Name

If on the Record Date your shares were registered directly in your name with our transfer agent, Computershare Trust Company, N.A., then you are a stockholder of record. As a stockholder of record, you may vote at the Annual Meeting or vote by proxy. Whether or not you plan to attend the Annual Meeting, we urge you to vote your shares by proxy in advance of the Annual Meeting through the internet, by telephone, or by completing and returning a printed proxy card to ensure your vote is counted.

Beneficial Owner: Shares Registered in the Name of a Broker, Bank or Other Agent

If on the Record Date your shares were held, not in your name, but rather in an account at a brokerage firm, bank, dealer or other similar organization, then you are the beneficial owner of shares held in “street name” and the Notice and Access Card is being forwarded to you by that organization. The organization holding your account is considered to be the stockholder of record for purposes of voting at the Annual Meeting. As a beneficial owner, you have the right to direct your broker or other agent regarding how to vote the shares in your account. You are also invited to attend the Annual Meeting. If your voting instruction form or Notice and Access Card indicates that you may vote your shares through the www.proxyvote.com website, then you may access, participate in, and vote at the Annual Meeting with the 16-digit access code indicated on that voting instruction form or Notice and Access Card. Otherwise, you should contact your broker or other agent (preferably at least five days before the Annual Meeting) and obtain a “legal proxy” in order to log into the Annual Meeting as a shareholder and be able vote at the meeting.

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What am I voting on?

There are three matters scheduled for a vote:

Proposal 1:
Election of Kamil Ali-Jackson, J.D. and Ilian Iliev, Ph.D. to serve as Class B directors until the 2029 Annual Meeting of Stockholders or until their successors are duly elected and qualified.

Proposal 2:
To approve an amendment to our Eighth Amended and Restated Certificate of Incorporation, as amended, to increase the number of authorized shares of our common stock from 150,000,000 shares to 300,000,000 shares.

Proposal 3:
Ratification of the selection by the Board of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026.

Proposal 4:
To approve, by non-binding advisory vote, the compensation of our named executive officers.

What if another matter is properly brought before the Annual Meeting?

The Board knows of no other matters that will be presented for consideration at the Annual Meeting. If any other matters are properly brought before the Annual Meeting, it is the intention of the persons named in the accompanying proxy to vote on those matters in accordance with their best judgment.

How do I vote?

Whether you hold shares directly as the stockholder of record or indirectly as the beneficial owner of shares held for you by a broker or other nominee (i.e., in “street name”), you may direct your vote without attending the Annual Meeting. You may vote by granting a proxy or, for shares you hold in street name, by submitting voting instructions to your broker or nominee. In most instances, you will be able to do this by internet, telephone or by mail. Please refer to the summary instructions below and those included on your Notice and Access Card, proxy card or, for shares you hold in street name, the voting instruction card provided by your broker or nominee.

Stockholder of Record: Shares Registered in Your Name

If you are a stockholder of record, you may vote at the Annual Meeting, vote by proxy over the telephone, vote by proxy through the internet, or vote by proxy using a proxy card that you may request or has been mailed to you. Whether or not you plan to attend the Annual Meeting, we urge you to vote by proxy to ensure your vote is counted.

• Via Webcast: You may attend the Annual Meeting via the internet and vote during the Annual Meeting. The Annual Meeting can be accessed by visiting www.virtualshareholdermeeting.com/PDSB2026 and entering your 16-digit control number which is included in the Notice and Access Card that will be mailed to you. Please have your Notice and Access Card in hand when you access the website and then follow the instructions.

• By Mail: You may vote by proxy by filling out the proxy card you may have received and returning it promptly in the envelope provided. If you return your signed proxy card to us before the Annual Meeting, we will vote your shares as you direct.

• By Telephone: To vote over the telephone, dial toll-free (800) 690-6903 using a touch-tone phone and follow the recorded instructions. Have your 16-digit control number available when you call. You will be asked to provide the company number and control number from the Notice. Your telephone vote must be received by 11:59 p.m., Eastern Time on August 9, 2026 to be counted.

• Via the Internet: To vote through the internet before the Annual Meeting, go to www.proxyvote.com and follow the on-screen instructions. Please have your 16-digit control number found on your Notice and Access Card, proxy card of voting instruction form in hand when you access the website and then follow the instructions. Your internet vote must be received by 11:59 p.m., Eastern Time on August 9, 2026 to be counted.

Beneficial Owner: Shares Registered in the Name of Broker, Bank or Other Agent

If you are a beneficial owner of shares registered in the name of your broker, bank, or other agent, you should have received a notice containing voting instructions from that organization rather than from us. Simply follow the voting instructions in the notice to ensure that your vote is counted. Alternatively, you may vote by telephone or on the internet

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as instructed by your broker or bank. To vote online at the Annual Meeting, please follow the instructions at www.virtualshareholdermeeting.com/PDSB2026. You will need the 16-digit control number, which is included in the Notice and Access Card or voting instruction form that will be mailed to you. Whether or not you plan to attend the Annual Meeting, we urge you to vote by proxy to ensure your vote is counted. You may still attend the Annual Meeting and vote online even if you have already voted by proxy.

Internet proxy voting is provided to allow you to vote your shares online, with procedures designed to ensure the authenticity and correctness of your proxy vote instructions. However, please be aware that you must bear any costs associated with your internet access, such as usage charges from internet access providers and telephone companies.

Can I vote my shares by completing and returning the Notice and Access Card?

No. The Notice and Access Card will, however, provide instructions on how to vote over the internet, request a paper copy of the meeting materials, and vote virtually at the Annual Meeting.

How many votes do I have?

On each matter to be voted upon, you have one vote for each share of common stock you owned as of the Record Date.

What happens if I do not vote?

Stockholder of Record: Shares Registered in Your Name

If you are a stockholder of record and do not vote by completing your proxy card, by telephone, through the Internet or at the Annual Meeting, your shares will not be voted.

Beneficial Owner: Shares Registered in the Name of Broker, Bank or Other Agent

See “What are broker non-votes?” below.

What if I return a proxy card or otherwise vote but do not make specific choices?

If you return a signed and dated proxy card or otherwise vote without marking voting selections, your shares will be voted,

• “For” the election of each of Kamil Ali-Jackson, J.D. and Ilian Iliev, Ph.D. as directors;

• “For” the approval of an amendment to our Eighth Amended and Restated Certificate of Incorporation, as amended, to increase the number of authorized shares of our common stock from 150,000,000 shares to 300,000,000 shares;

• “For” the ratification of the selection of KPMG LLP as our independent registered public accounting firm; and

• “For” the approval of the compensation of our named executive officers.

If any other matter is properly presented at the Annual Meeting, your proxy holder (one of the individuals named on your proxy card) will vote your shares using his or her best judgment.

Who is paying for this proxy solicitation?

We will pay for the entire cost of soliciting proxies as well as hosting the virtual-only Annual Meeting. In addition to these proxy materials, our directors and employees may also solicit proxies in person, by telephone, or by other means of communication. Directors and employees will not be paid any additional compensation for soliciting proxies. We may also reimburse brokerage firms, banks and other agents for the reasonable cost of forwarding proxy materials to beneficial owners. In addition, we have engaged Morrow Sodali to assist in the solicitation of proxies and provide related advice and information support, for a fee that is not expected to exceed $40,000 in total.

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What does it mean if I receive more than one Notice and Access Card?

If you receive more than one Notice and Access Card, your shares may be registered in more than one name or in different accounts. Please follow the voting instructions on each of the notices to ensure that all of your shares are voted.

Can I change my vote after submitting my proxy?

Yes. You can revoke your proxy at any time before the final vote at the Annual Meeting.

Stockholder of Record: Shares Registered in Your Name

If you are the record holder of your shares, you may revoke your proxy in any one of the following ways:

• You may submit another properly completed proxy card with a later date.

• You may grant a subsequent proxy by telephone or through the internet.

• You may send a timely written notice that you are revoking your proxy to our Secretary at PDS Biotechnology Corporation at 303A College Road East, Princeton, NJ 08540.

• You may attend the Annual Meeting via the internet and vote online at the meeting. Simply attending the Annual Meeting will not, by itself, revoke your proxy.

Your most current proxy card or telephone or internet proxy is the one that is counted.

Beneficial Owner: Shares Registered in the Name of Broker, Bank or Other Agent

If your shares are held by your broker, bank or other agent as a nominee, you should follow the instructions provided by your broker, bank or other agent.

When are stockholder proposals and director nominations due for next year’s annual meeting?

Stockholders may present proper proposals for inclusion in our proxy statement and consideration at the next annual meeting of stockholders in accordance with Rule 14a-8 of the Exchange Act by submitting their proposals in writing to our Secretary no later than February 26, 2027, which is 120 calendar days prior to the first anniversary of the date these proxy materials were sent to our stockholders. Under Rule 14a-8, if the date of the 2027 annual meeting changes by more than 30 days from the anniversary of this year’s Annual Meeting, to be included in our proxy statement, stockholder proposals must be received by us within a reasonable time before our solicitation is made.

For any proposal that is not submitted for inclusion in next year’s proxy statements, but is instead sought to be presented directly at next year’s annual meeting, including director nominations, our bylaws provide that notice of such proposal or nomination no later than the close of business on April 12, 2027, which is the date that is 120 days prior to the first anniversary of the Annual Meeting, but not earlier than the close of business on March 13, 2027, which is the date that is 150 days prior to the first anniversary of the Annual Meeting (or the date that is 10 days following the public announcement of the date of next year’s meeting, to the extent that the date is more than thirst days before or more that 60 days after the first anniversary of the Annual Meeting), to be considered for a vote at next year’s annual meeting.

To comply with the universal proxy rules, stockholders who intend to solicit proxies in support of director nominees other than the Company’s nominees in connection with our 2027 annual meeting must provide notice that sets forth the information required by Rule 14a-19 under the Exchange Act.

Any proposal, nomination or notice must contain the information required by our bylaws and be delivered to our principal executive offices at PDS Biotechnology Corporation, c/o Corporate Secretary, 303A College Road, East, Princeton, NJ 08540.

How are votes counted?

Before the Annual Meeting, our Board will appoint one or more inspectors of election for the meeting. The inspector(s) will determine the number of shares represented at the meeting, the existence of a quorum and the validity and effect of proxies. The inspector(s) will also receive, count, and tabulate ballots and votes and determine the results of the voting on each matter that comes before the Annual Meeting.

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What are “broker non-votes?”

Broker non-votes occur when a beneficial owner of shares held in “street name” does not give instructions to the broker or nominee holding the shares as to how to vote on matters deemed “non-routine.” If shares are held in street name, the beneficial owner of the shares is entitled to give voting instructions to the broker or nominee holding the shares. If the beneficial owner does not provide specific voting instructions, the broker or nominee generally can vote the shares with respect to matters that are considered to be “routine,” but not with respect to “non-routine” matters. As described below, we believe that Proposals 2 and 3, the increase in the number of authorized shares of common stock and the ratification of our auditors, respectively, are “routine” matters under applicable rules and regulations. Therefore, without instructions, brokers and other nominees may not vote shares with respect to Proposals 1 and 4. It is therefore important that you act to ensure your shares are voted.

How many votes are needed to approve each proposal?

• For the elections of Kamil Ali-Jackson, J.D. and Ilian Iliev, Ph.D. as directors, a plurality of the votes cast will be required for election. Plurality means that the individual who receives the largest number of votes cast “For” is elected as a director, however, a nominee is not required to receive a majority of votes “For”. As a result, any shares not voted “For” the nominee (whether as a result of stockholder withholding or a broker non-vote) will not be counted in the nominee’s favor.

• To be approved, the approval of an amendment to our Eighth Amended and Restated Certificate of Incorporation, as amended, to increase the number of authorized shares of our common stock from 150,000,000 shares to 300,000,000 must receive “For” votes from the holders of at least a majority of the votes cast at the Annual Meeting and entitled to vote on the matter. Abstentions are not treated as votes cast, and therefore if you “Abstain” from voting, it will have no effect on the vote. Brokers have discretion to vote as this proposal is considered a “routine” matter. Accordingly, if you hold your shares in “street name” and do not provide voting instructions to your broker, bank or other agent that holds your shares, your broker, bank or other agent has discretionary authority to vote your shares on this proposal.

• To be approved, the ratification of the selection of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026, must receive “For” votes from the holders of at least a majority of shares present at the Annual Meeting or represented by proxy and entitled to vote on the matter. If you “Abstain” from voting, it will have the same effect as an “Against” vote. Brokers have discretion to vote as this proposal is considered a “routine” matter. Accordingly, if you hold your shares in “street name” and do not provide voting instructions to your broker, bank or other agent that holds your shares, your broker, bank or other agent has discretionary authority to vote your shares on this proposal.

• To be approved, the non-binding advisory resolution on the compensation of our named executive officers, must receive “For” votes from the holders of at least a majority of shares present at the Annual Meeting or represented by proxy and entitled to vote on the matter. If you “Abstain” from voting, it will have the same effect as an “Against” vote. Broker non-votes will have no effect.

What is the quorum requirement?

A quorum of stockholders is necessary to hold a valid meeting. A quorum will be present if stockholders holding at least a majority of the outstanding shares entitled to vote are present at the Annual Meeting or represented by proxy. Virtual attendance at the Annual Meeting constitutes presence in person for purposes of a quorum at the Annual Meeting.

Your shares will be counted towards the quorum only if you submit a valid proxy (or one is submitted on your behalf by your broker, bank or other nominee) or if you vote at the Annual Meeting. Abstentions and broker non-votes will be counted towards the quorum requirement. If there is no quorum, either the chairman of the Annual Meeting or the holders of a majority of shares present at the Annual Meeting or represented by proxy may adjourn the Annual Meeting to another date.

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How can I find out the results of the voting at the Annual Meeting?

Preliminary voting results will be announced at the Annual Meeting. In addition, final voting results will be published in a current report on Form 8-K that we expect to file within four business days after the Annual Meeting. If final voting results are not available to us in time to file a Form 8-K within four business days after the Annual Meeting, we intend to file a Form 8-K to publish preliminary results and, within four business days after the final results are known to us, file an additional Form 8-K to publish the final results.

Who can help answer your questions?

If you have questions about the Annual Meeting or would like additional copies of this Proxy Statement, you should contact Spencer Brown at PDS Biotechnology Corporation, 303A College Road East, Princeton, NJ 08540.

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PROPOSAL 1

ELECTION OF DIRECTORS

Our Board is divided into three classes: Class A, Class B and Class C, with each class serving a three-year term. Vacancies on the Board may be filled only by persons elected by a majority of the remaining directors. A director elected by the Board to fill a vacancy in a class, including vacancies created by an increase in the number of directors that may serve on the Board, shall serve for the remainder of the full term of that class and until the director’s successor is duly elected and qualified.

The Board presently has six members. The two nominees for director this year are Kamil Ali-Jackson, J.D. and Ilian Iliev, Ph.D. each of whom is a current director. If elected at the Annual Meeting, each of Ms.  Ali-Jackson and Mr. Iliev would serve until the 2029 annual meeting or until their successor has been duly elected and qualified, or their earlier death, resignation or removal. There are no family relationships between any of our directors, executive officers, or nominees for directors. Our directors are expected to attend our Annual Meeting via the internet. There are no arrangements or understandings between any nominee and any other person pursuant to which each such nominee was selected.

Directors are elected by a plurality of the votes cast of the holders of shares present at the Annual Meeting or represented by proxy and entitled to vote on the election of directors. Accordingly, each of Ms. Ali-Jackson and Mr. Iliev will be elected if they receive a plurality of the votes cast. Shares represented by executed proxies will be voted, if authority to do so is not withheld, for the election of each of Ms. Ali-Jackson and Mr. Iliev. If Ms. Ali-Jackson and Mr. Iliev become unavailable for election as a result of an unexpected occurrence, shares that would have been voted for such person will instead be voted for the election of a substitute nominee proposed by the Board. Ms. Ali-Jackson and Mr. Iliev have each agreed to serve if elected. Our management has no reason to believe that either Ms. Ali-Jackson or Mr. Iliev will be unable to serve.

The following table provides information on the nominees for the position of director of PDS Biotech as of the Record Date and for each director continuing in office after the Annual Meeting.

Name			Age
Nominees for Director
(Class B − Term expiring at our annual meeting of stockholders in 2029)
Kamil Ali-Jackson, J.D.			67
Ilian Iliev, Ph.D.			50
Directors Continuing in Office
(Class C − Term expiring at our annual meeting of stockholders in 2027)
Frank Bedu-Addo, Ph.D.			61
Otis Brawley, M.D.			66
(Class A − Term expiring at our annual meeting of stockholders in 2028)
Stephen Glover			66
Gregory Freitag, J.D., CPA			64

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CLASS B NOMINEES FOR ELECTION FOR A

THREE-YEAR TERM EXPIRING AT THE 2029 ANNUAL MEETING

Kamil Ali-Jackson, J.D.

Ms. Ali-Jackson has served on the Board since February 2020. Ms. Ali-Jackson brings four decades of life sciences industry experience with public and private specialty pharmaceutical, biotech, and biopharmaceutical companies to PDS Biotech. Ms. Ali-Jackson has extensive domestic and international experience with strategic alliances, drug development and commercialization collaborations, and M & A transactions. Ms. Ali-Jackson is the co-founder of Aclaris Therapeutics, Inc. and served as its Chief Legal Officer, Chief Compliance Officer, and Corporate Secretary since its inception in 2012 until her retirement in January 2022. In addition, Ms. Ali-Jackson co-founded and successfully transitioned several specialty pharmaceutical and biopharmaceutical companies through multi-million-dollar acquisitions by global life sciences companies. In 2011, Ms. Ali-Jackson also co-founded NeXeption, Inc., a biopharmaceutical assets management company and was legal counsel for the company and its affiliated companies from 2011 until 2020. She has served as legal counsel and as a licensing business executive for a number of life sciences companies, including Merck & Co. Inc. and Dr. Reddy’s Laboratories Ltd. Ms. Ali-Jackson currently serves on the board of directors, audit, finance and compensation committees for Rigel Pharmaceuticals, Inc., a publicly traded biotechnology company. She has also served on several nonprofit boards and currently serves on the board of trustees of Princeton University and as the Chair of the East Bradford Township Zoning Hearing Board. Ms. Ali-Jackson received her J.D. from Harvard Law School and Bachelor of Arts in politics from Princeton University.

The Board believes that Ms. Ali-Jackson’s leadership, legal, transactional, compliance and corporate governance expertise and knowledge, as well as her experience as an executive officer, legal counsel, and co-founder in the life sciences industry, provide her with the qualifications and skills to serve as a director.

Ilian Iliev, Ph.D.

Dr. Iliev has served on the Board since April 2020. Dr. Iliev is Chief Executive Officer of EMV Capital PLC (previously NetScientific PLC), a London Stock Exchange listed company investing in deep tech and life sciences in the UK and internationally. Dr. Iliev founded EMV Capital in 2018, and the company was acquired by NetScientific PLC in 2020. Previously, Dr. Iliev served as the Chief Executive Officer and co-founder of CambridgeIP Ltd, a Cambridge, UK based boutique strategy consultancy focused on technology and IP commercialization. Dr. Iliev serves on the board of directors of several EMV Capital portfolio companies in the life sciences and deeptech space. Dr. Iliev holds a Ph.D. from Cambridge University’s Judge Business School, focused on venture capital business models in emerging economies. He received a Master of Commerce in Economics, and a Bachelor of Arts in Politics, Economics and International Relations from the University of Witwatersrand, South Africa.

The Board believes Dr. Iliev’s venture capital and high-growth company experience provides him with the qualifications and skills to serve as a director.

THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS

A VOTE IN FAVOR OF ITS NOMINEES.

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CLASS C DIRECTORS CONTINUING IN OFFICE UNTIL THE 2027 ANNUAL MEETING

Frank Bedu-Addo, Ph.D.

Dr. Bedu-Addo has served as director, President and Chief Executive Officer of PDS Biotech since March 2019. Dr. Bedu-Addo is a veteran biotech executive with experience successfully starting and growing biotechnology organizations. He has been responsible for the oversight, development and implementation of both operational and drug development strategies in both large organizations and emerging biotechnology companies. Dr. Bedu-Addo was a member of the senior executive team at KBI BioPharma, Inc. As Vice President of Drug Development, he oversaw all operations including business development, drug development/manufacturing and profit and loss. Before his tenure at KBI, he successfully started and managed Cardinal Health’s East Coast biotechnology drug development and manufacturing operations. Prior to Cardinal Health, Dr. Bedu-Addo was an Associate Director at Akzo-Nobel, Senior Scientist at Elan (The Liposome Co.), and Principal Scientist at Schering-Plough. In these positions, he contributed to the development of numerous drugs, including antiviral and anticancer products. Dr. Bedu-Addo obtained both his M.S. in Chemical Engineering and Ph.D. in Pharmaceutics from the University of Pittsburgh.

The Board believes that Dr. Bedu-Addo’s perspective and experience as our President and CEO, as well as his depth of operating and senior management experience in the pharmaceuticals industry and educational background, provide him with the qualifications and abilities to serve as a director.

Otis Brawley, M.D.

Dr. Brawley has served on the Board since November 2020. Dr. Otis Brawley, M.D. is a renowned oncologist and a seasoned pharmaceutical director who has served on several boards including the boards of companies developing and commercializing oncology products. Dr. Brawley is currently the Bloomberg Distinguished Professor of Oncology and Epidemiology at Johns Hopkins University. Dr. Brawley served as the Chief Medical and Scientific Officer at the American Cancer Society from 2007 through 2018 and is a former member of the FDA Oncologic Drug Advisory Committee (ODAC) and the National Cancer Institute’s (NCI) Board of Scientific Counselors. Formerly, Dr. Brawley was a professor in the Department of Hematology and Oncology at the Emory University School of Medicine. He was also previously a senior investigator at the National Institute of Health (NIH) and NCI Dr. Brawley is currently a director at Jackson Laboratories, a nonprofit biomedical research center focused on developing genomic solutions to disease including personalized, tailored therapeutics for individual cancers; formerly, he was a Director for the Theragenics Corporation, a publicly traded company with commercialized medical devices for brachytherapy, surgery and wound closure. Dr. Brawley is also on the board of Incyte Corporation, a biopharmaceutical company focused on discovery, development and commercialization of proprietary therapeutics, Agilent Technologies, an analytical instrumentation development and manufacturing company, and Lyell Immunopharma, Inc., a private biotechnology company. Dr. Brawley received an M.D. from the University of Chicago, Pritzker School of Medicine. He completed an internal medicine residency at Case-Western Reserve University and a fellowship in medical oncology at the NCI. He is board certified in internal medicine and medical oncology. In 2013, he was the recipient of a Special Recognition Award from the American Society of Clinical Oncology. In 2019 he was given the American Medical Association Distinguished Service Award. Dr. Brawley is a Master of the American College of Physicians, a Fellow of the Royal College of Physicians (London), and an elected member of the U.S. National Academy of Medicine.

The Board believes that Dr. Brawley’s expertise in the field of Oncology as well as his experience on public company and non-profit boards and his educational background provide him with the qualifications and abilities to serve as a director.

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CLASS A DIRECTORS CONTINUING IN OFFICE UNTIL THE 2028 ANNUAL MEETING

Stephen Glover

Mr. Glover has served on the Board since April 2019 and is the Chairman of the Board. Mr. Glover has over 40 years of business experience in biopharmaceuticals and life sciences. Before founding ZyVersa, Mr. Glover was Co-Founder and Chief Business Officer of Coherus Biosciences where he was focused on business strategy, partnerships, product development efforts and capitalization of the company. Prior to Coherus, he was the President of Insmed Therapeutic Proteins, a biosimilar company, as well as Chief Business Officer of Insmed Incorporated. Prior to Insmed, Mr. Glover held the position of Senior Vice President and General Manager at Andrx Laboratories and Andrx Therapeutics, both divisions of Andrx Corporation. At Andrx Mr. Glover was responsible for the strategy and operation of Andrx Labs which developed and marketed products in metabolic diseases and Men’s Health, and Andrx Therapeutics which was focused on development of new controlled release products and contract manufacturing. He earlier held multiple sales, marketing and operational roles at Hoffman LaRoche, Amgen Inc. and GlaxoSmithKline. Mr. Glover has multifaceted experience in Fortune 100, start up, and entrepreneurial environments. He has demonstrated significant achievements in startups, large cap, and turnaround companies, with a focus on business strategy, commercial execution, product development, business transformation and corporate development. He has completed over 25 life sciences transactions in licensing and M&A, raised over $500 million in capital, and created more than $7 billion in shareholder value. His strategic and operational experience includes strategic planning, corporate development, operations management, product development, product marketing and sales management. Currently, Mr. Glover is Chairman of the Board of Directors of ZyVersa Therapeutics and PDS Biotechnology. He is a member of the Board of Directors at Oncolytics Biotech, Inc., BioGene Therapeutics and at the Coulter Foundation at the University of Miami. Previously Mr. Glover was Chairman of Ambrx Biopharma, overseeing its $2 billion acquisition by Johnson & Johnson.

The Board believes Mr. Glover’s broad industry experience as well as his experience as a founder and strategic leader provides him with the qualifications and skills to serve as a director.

Gregory Freitag, J.D., CPA

Mr. Freitag has served on the Board since March 2019. Mr. Freitag currently serves as a member of the board of directors of ZyVersa Therapeutics (Nasdaq: ZVSA), a clinical-stage specialty biopharmaceutical company focused on developing drugs to treat inflammatory and renal diseases. Mr. Freitag served as Special Counsel for Axogen, Inc. (Nasdaq: AXGN) until his retirement in April 2021, its General Counsel from September 2011 to December 2019, Chief Financial Officer from September 2011 to May 2014 and August 2015 to March 2016 and Senior Vice President of Business Development at Axogen from May 2014 until October 2018. Mr. Freitag was also a member of the Axogen, Inc. Board of Directors from 2011 to 2024. Axogen, Inc. is a leading regenerative medicine company dedicated to peripheral nerve repair. Mr. Freitag was Chief Executive Officer, Chief Financial Officer and a board member from June 2010 through September 2011 of LecTec Corporation, an intellectual property licensing and holding company that merged with Axogen in September 2011. Mr. Freitag is a principal of FreiMc, LLC, a healthcare and life science consulting and advisory firm he founded that provides strategic guidance and business development services. Prior to founding FreiMc, Mr. Freitag was a Director of Business Development at Pfizer Health Solutions, a former subsidiary of Pfizer, Inc. and worked for Guidant Corporation in their business development group. Prior to Guidant Corporation, Mr. Freitag was the Chief Executive Officer of HTS Biosystems, a biotechnology tools start-up company and was the Chief Operating Officer, Chief Financial Officer and General Counsel of Quantech, Ltd. Prior to Quantech, Mr. Freitag practiced corporate law in Minneapolis, Minnesota.

The Board believes that Mr. Freitag’s leadership, legal, corporate governance and accounting experience and knowledge, as well as his familiarity with the life sciences industry and PDS Biotech, provide him with the qualifications and skills to serve as a director.

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CORPORATE GOVERNANCE

Independence of the Board of Directors

As required under the Nasdaq listing standards, a majority of the members of a listed company’s board of directors must qualify as “independent,” as affirmatively determined by the board of directors. The Board consults with our counsel to ensure that the Board’s determinations are consistent with relevant securities and other laws and regulations regarding the definition of “independent,” including those set forth in pertinent listing standards of Nasdaq, as in effect from time to time.

The Board has undertaken a review of the independence of our directors and has determined that all of our directors, except Frank Bedu-Addo, Ph.D. and Ilian Iliev, Ph.D., are independent within the meaning of Section 5605(a)(2) of the Nasdaq Stock Market listing rules. Dr. Bedu-Addo is not an independent director under these rules because he is our President and Chief Executive Officer, and the Board has determined that Dr. Iliev is not an independent director because of his relationship with NetScientific plc, a current stockholder of the Company.

Board Leadership Structure

The Board has appointed Mr. Stephen Glover as Chairman of the Board. The Chairman has the authority, among other things, to preside over Board meetings, to set meeting agendas and to perform all other duties delegated to him from time to time by the Board. We believe that separation of the positions of Board Chairman and Chief Executive Officer reinforces the independence of the Board in its oversight of our business and affairs. In addition, we believe that having an independent Chairman creates an environment that is more conducive to objective evaluation and oversight of management’s performance, increasing management accountability and improving the ability of the Board to monitor whether management’s actions are in our best interests and the best interests of our stockholders. As a result, we believe that having an independent Chairman can enhance the effectiveness of the Board as a whole.

Family Relationships

There are no family relationships among any of our directors or executive officers.

Board Diversity

The Board is committed to having a diversified board, including diversity of thought, background and experience.

Role of the Board in Risk Oversight

One of the Board’s key functions is informed oversight of our risk management process. The Board does not have a standing risk management committee, but rather administers this oversight function directly through the Board as a whole, as well as through various Board standing committees that address risks inherent in their respective areas of oversight. Our Board is responsible for monitoring and assessing strategic risk exposure, including a determination of the nature and level of risk appropriate for us. Our Audit Committee has the responsibility to review and discuss with management and KPMG LLP, the Company’s independent auditors, as appropriate, our guidelines and policies with respect to risk assessment and risk management, including our major financial risk exposures and the steps taken by management to monitor and control these exposures, including as it concerns risks from cybersecurity threats. In general, we seek to address cybersecurity risks through a cross-functional approach that is focused on preserving the confidentiality, integrity, and availability of the information that we collect and store by identifying, preventing, and mitigating cybersecurity threats and effectively responding to cybersecurity incidents when they occur. Our Nominating and Corporate Governance Committee is responsible for developing our corporate governance principles, and periodically reviews these principles and their application. Our Compensation Committee reviews our practices and policies of employee compensation as they relate to risk management and risk-taking incentives, to determine whether such compensation policies and practices are reasonably likely to have a material adverse effect on us.

Meetings of the Board of Directors

Each director is expected to make reasonable efforts to attend all Board and applicable committee meetings. Attendance is taken into account by the Nominating and Corporate Governance Committee and the Board when they assess directors for re-nomination to the Board. Each director is also expected to attend our annual stockholder

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meetings, and five (5) of our current directors attended the 2025 Annual Meeting of Stockholders. The Board met eleven (11) times during the year ended December 31, 2025. All directors attended at least 75% of the aggregate number of meetings of the Board and of the committees on which they served during 2025 or the portion thereof for which they were directors or committee members.

Information Regarding Committees of the Board of Directors

The Board has established an Audit Committee, a Compensation Committee and a Nominating and Corporate Governance Committee. The following table provides membership information for each of these standing Board committees. From time to time, our Board and committees also take action by written consent without a meeting. Each of our Board committees has authority to engage legal counsel or other experts or consultants, as it deems appropriate to carry out its responsibilities.

Name			Audit			Compensation			Nominating and Corporate Governance
Stephen Glover			X			X*
Kamil Ali-Jackson, J.D.			X			X			X*
Frank Bedu-Addo, Ph.D.
Otis Brawley, M.D.
Gregory Freitag, J.D., CPA			X*						X
Ilian Iliev, Ph.D.

*
Committee Chairperson

Audit Committee

Our Audit Committee currently consists of Mr. Freitag, Mr. Glover and Ms. Ali-Jackson, each of whom satisfies the independence requirements under applicable Nasdaq listing rules and Rule 10A-3(b)(1) of the Exchange Act. The chairperson of our Audit Committee is Mr. Freitag, whom our Board has determined to be an “audit committee financial expert” within the meaning of SEC regulations. Each member of our Audit Committee can read and understand fundamental financial statements in accordance with Audit Committee requirements. In arriving at this determination, the Board has examined each Audit Committee member’s scope of experience and the nature of their employment in the corporate finance sector. PDS Biotech’s Audit Committee held four (4) meetings in 2025.

The primary purpose of our Audit Committee is to assist the Board in the oversight of the integrity of our accounting and financial reporting process, the audits of our financial statements, and our compliance with legal and regulatory requirements. The functions of our Audit Committee include, among other things:

• hiring an independent registered public accounting firm to conduct the annual audit of our financial statements and monitoring its independence and performance;

• reviewing and approving the planned scope of the annual audit and the results of the annual audit;

• pre-approving all audit services and permissible non-audit services provided by our independent registered public accounting firm;

• reviewing the significant accounting and reporting principles to understand their impact on our financial statements;

• reviewing our internal financial, operating and accounting controls with management and our independent registered public accounting firm;

• reviewing with management and our independent registered public accounting firm, as appropriate, our financial reports, earnings announcements and our compliance with legal and regulatory requirements;

• reviewing potential conflicts of interest under and violations of our Code of Conduct;

With respect to reviewing and approving related-party transactions, our Audit Committee reviews related-party transactions for potential conflicts of interest or other improprieties. Under SEC rules, related-party transactions are those transactions to which we are or may be a participant in which the amount involved exceeds $120,000, and in which

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any of our directors, executive officers or more than 5% stockholders, as well as any family members of the foregoing (each, a “related party”) had or will have a direct or indirect material interest, excluding, among other things, compensation arrangements with respect to employment and board membership. Our Audit Committee could approve a related-party transaction if it determines that the transaction is in our best interests. Our directors are required to disclose to the Audit Committee or the full Board any potential conflict of interest or personal interest in a transaction that our Board is considering. Our executive officers are required to disclose any potential conflict of interest or personal interest in a transaction to the Audit Committee. We also poll our directors and executive officers on an annual basis with respect to related-party transactions and their service as an officer or director of other entities. Whenever possible, any related party transaction should be approved in advance and if not approved in advance, must be submitted for ratification as promptly as practical.

The Board has adopted a charter for the Audit Committee that complies with SEC and Nasdaq Stock Market listing rules. The charter is available on our website at www.pdsbiotech.com.

Compensation Committee

Our Compensation Committee currently consists of Mr. Glover and Ms. Ali-Jackson, each of whom our Board has determined to be independent under the Nasdaq listing standards and a “non-employee director” as defined in Rule 16b-3 promulgated under the Exchange Act. The chairperson of our Compensation Committee is Stephen Glover. PDS Biotech’s Compensation Committee held four (4) meeting in 2025.

The primary purpose of our Compensation Committee is to assist the Board in exercising its responsibilities relating to compensation of our executive officers and employees and to administer our equity compensation and other benefit plans. In carrying out these responsibilities, this committee reviews all components of executive officer and employee compensation for consistency with its compensation philosophy, as in effect from time to time. The functions of our Compensation Committee include, among other things:

• designing and implementing competitive compensation policies to attract and retain key personnel;

• reviewing and formulating policy and determining the compensation of our executive officers and employees;

• reviewing and recommending to the Board the compensation of our directors;

• administering our equity incentive plans and granting equity awards to our employees and directors under these plans;

• if required from time to time, reviewing with management our disclosures under the caption “Executive Compensation” and recommending to the full board its inclusion in our periodic reports to be filed with the SEC;

• if required from time to time, preparing the report of the Compensation Committee to be included in our annual proxy statement;

• engaging advisors it deems appropriate to assist with its duties; and

• reviewing and evaluating, at least annually, our Compensation Committee’s charter.

The Compensation Committee may review competitive compensation data to inform the Compensation Committee’s decisions on overall compensation of our executive officers and directors, as well as specific pay elements. The Compensation Committee applies judgment and discretion in establishing targeted pay levels, taking into account factors such as Company, business and individual performance, experience, scope of responsibility, criticality and skill sets, leadership potential and succession planning.

The Board has adopted a charter for the Compensation Committee that complies with SEC and Nasdaq listing rules. The charter is available on our website at www.pdsbiotech.com.

Compensation Committee Interlocks and Insider Participation

No member of our Compensation Committee has ever been an executive officer or employee of ours. None of our officers currently serve, or served during 2025, on the compensation committee or board of directors of any other entity that has one or more officers serving as a member of the Board or Compensation Committee.

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Nominating and Corporate Governance Committee

Our Nominating and Corporate Governance Committee currently consists of Ms. Ali-Jackson and Mr. Freitag, each of whom our Board has determined to be independent under the Nasdaq listing standards. The chairperson of our Nominating and Corporate Governance Committee is Ms. Ali-Jackson. Our Nominating and Corporate Governance Committee held four (4) meetings in 2025.

The primary purpose of our Nominating and Corporate Governance Committee is to assist the Board in promoting our best interests and the best interests of our stockholders through the implementation of sound corporate governance principles and practices. The functions of our Nominating and Corporate Governance Committee include, among other things:

• identifying, reviewing and evaluating candidates to serve on our board;

• determining the minimum qualifications for service on our board;

• developing and recommending to our board an annual self-evaluation process for our board and overseeing the annual self-evaluation process;

• developing, as appropriate, a set of corporate governance principles, and reviewing and recommending to our board any changes to such principles; and

• periodically reviewing and evaluating our Nominating and Corporate Governance Committee’s charter.

The Board has adopted a charter for the Nominating and Corporate Governance Committee that complies with SEC and Nasdaq Stock Market listing rules. The charter is available on our website at www.pdsbiotech.com.

While the Nominating and Corporate Governance Committee does not have a formal diversity policy, the Nominating and Corporate Governance Committee recommends candidates based upon many factors, including the diversity of their business or professional experience, the diversity of their background and their array of talents and perspectives. We believe that the Nominating and Corporate Governance Committee’s existing nominations process is designed to identify the best possible nominees for the Board, regardless of the nominee’s gender, racial background, religion, or ethnicity. The Nominating and Corporate Governance Committee identifies candidates through a variety of means, including recommendations from members of the Board and suggestions from our management, including our executive officers. In addition, the Nominating and Corporate Governance Committee considers candidates recommended by third parties, including stockholders. The Nominating and Corporate Governance Committee gives the same consideration to candidates recommended by stockholders as those candidates recommended by members of our Board. Nominees should have a reputation for integrity, honesty and adherence to high ethical standards, should have demonstrated business acumen, experience and ability to exercise sound judgments in matters that relate to our current and long-term objectives, should be willing and able to contribute positively to our decision-making process, should have a commitment to understand PDS Biotech and our industry and to regularly attend and participate in meetings of the Board and its committees, should have the interest and ability to understand the sometimes conflicting interests of the various constituencies of PDS Biotech, which include stockholders, employees, customers, creditors and the general public, and to act in the interests of all stockholders, should not have, nor appear to have, a conflict of interest that would impair the nominee’s ability to represent the interests of all our stockholders and to fulfill the responsibilities of a director. Nominees shall not be discriminated against on the basis of race, religion, national origin, sex, sexual orientation, disability or any other basis proscribed by law.

Stockholder Communications with Board of Directors

We do not have a formal process related to stockholder communications with the Board. However, we strive to ensure that the views of stockholders are heard by the Board or individual directors, as applicable, and that appropriate responses are provided to stockholders in a timely manner. If you wish to send a communication to the Board, its chair or the chair of any Board committee, please send your communication to Frank Bedu-Addo, Ph.D., our Chief Executive Officer, at PDS Biotechnology Corporation at 303A College Road East, Princeton, NJ 08540, who will forward all appropriate communications as requested.

Delinquent Section 16(a) Reports

Section 16(a) of the Exchange Act, requires our officers (as defined under Section 16(a) of the Exchange Act), directors and persons who own greater than 10% of a registered class of our equity securities to file reports of ownership and changes in ownership with the SEC. Based solely on review of the copies of Forms 3 and 4 and amendments thereto

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filed with the SEC during the fiscal year ended December 31, 2025 and Forms 5 and amendments thereto filed with the SEC with respect to such fiscal year, or written representations that no Forms 5 were required, we believe that there were no instances where our officers, directors and greater than ten percent beneficial owners failed to file on a timely basis all Section 16(a) filing requirements during the fiscal year ended December 31, 2025, other than the filing of a Form 4 on July 25, 2025, for each of Lars Boesgaard, Stephan Toutain,., and Kirk Shephard, each reporting one transaction and the filing of a Form 4 on July 25, 2025, for each of Frank Beddu-Addo, Ph.D, Spencer D. Brown and Gregory Conn, each reporting two transactions, which were filed late due to administrative oversights.

Code of Business Conduct and Ethics for Employees, Executive Officers and Directors

We have adopted a Code of Conduct, applicable to all of our employees, executive officers and directors. The Code of Conduct is available on our website at www.pdsbiotech.com. The Nominating and Corporate Governance Committee is responsible for overseeing the Code of Conduct and must approve any waivers of the Code of Conduct for employees, executive officers or directors. We expect that any amendments to the Code of Conduct, or any waivers of its requirements, will be disclosed on our website within four business days of such amendment or waiver.

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EXECUTIVE OFFICERS

The following table sets forth information regarding our executive officers as of the Record Date.

Name			Age			Position
Frank Bedu-Addo, Ph.D.			61			President, Chief Executive Officer, Principal Executive Officer and Director
Gregory L. Conn, Ph.D.			71			Chief Scientific Officer
Kirk Shepard, M.D.			75			Chief Medical Officer
Lars Boesgaard			56			Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer
Stephan Toutain			60			Chief Operating Officer
Spencer Brown			56			Senior Vice President, General Counsel, Corporate Secretary, and Compliance Officer

Biographies for each of our executive officers are provided below.

Frank Bedu-Addo, Ph.D.

Please see Dr. Bedu-Addo’s biography above under the section “Class C Directors Continuing in Office Until the 2027 Annual Meeting.”

Gregory L. Conn, Ph.D.

Dr. Conn was a founding member of the PDS Biotech team in 2005 as Chief Scientific Officer and continues to serve PDS Biotech in that role. He has more than 40 years of drug-development expertise, including development of antiviral and anticancer drugs through to commercialization. He is a graduate of the Albert Einstein College of Medicine, where he obtained both his M.S. and Ph.D., discovering novel angiogenic molecules in the human brain. Dr. Conn started his pharmaceutical career at Merck, Sharpe, and Dohme, where he continued his work on novel angiogenic factors, discovering and characterizing the VEGF family of growth factors, work which led to the development and commercialization of the anti-cancer drug Avastin. He was later a leading scientist at Regeneron Pharmaceuticals, where he established and headed various groups in the Cell and Molecular Biology and Drug Discovery departments. Dr. Conn subsequently became a Director in the Process Development department at Covance Biotechnology Services Inc., a contract research and development and drug manufacturing organization, where he supervised the analytical development teams responsible for drug characterization, method development and drug stability studies, and program teams responsible for developing drug manufacturing processes. Dr. Conn has expertise across all phases of the drug development process, including FDA and regulatory requirements, and is the co-inventor of twelve drug patents.

Kirk Shepard, M.D.

Dr. Shepard has served as Chief Medical Officer of PDS Biotech since January 2024. Prior to PDS Biotech, Dr. Shepard was Chief Medical Officer, Senior Vice President and Head of Global Medical Affairs Oncology at Eisai Inc. Dr. Shepard has served in leadership positions at companies that have included Takeda, Boehringer Ingelheim, Baxter, and Baxalta. Dr. Shepard’s experience in multiple therapeutic areas includes operational and strategic product development from Phases 1 through 4 and the diverse disciplines of commercialization, clinical development, and medical affairs, such as real world evidence (RWE), health economics outcomes research (HEOR) & patient access, Investigator-Initiated Research, field-based medical teams (MSLs), leading compliance and SOP/policy efforts, PV/safety, medical communication, publications, digital strategy & initiatives, patient advocacy, and public relations. Dr. Shepard received his fellowship Oncology and Hematology training at the University of Chicago Medical Center and then was on the Hematology-Oncology staff at the Cleveland Clinic Foundation before transitioning to the pharmaceutical industry. In 2015, he was selected as one of the 100 Most Inspiring People in the Pharmaceutical Industry (PharmaVOICE). He is a co-founder of the Medical Affairs Professional Society (MAPS), and in 2016-17 he was President of MAPS. He received his BA from Cornell University in Ithaca, NY, where he was on the varsity football team.

Lars Boesgaard

Mr. Boesgaard has served as Chief Financial Officer and Principal Financial and Accounting Officer of PDS Biotech since December 2023. Prior to joining PDS Biotech, he served as CFO of AM-Pharma B.V. from September 2021 to August 2023. Mr. Boesgaard also served as CFO of Columbia Care from August 2018 to

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August 2021, where he completed key transactions, including an IPO/reverse merger resulting in a $120 million capital infusion and raising $200 million in public equity and debt offerings. Mr. Boesgaard was also previously the Vice President, CFO of Roka Bioscience from November 2015 to July 2018 and held several other senior finance positions with publicly traded companies, including Insulet Corporation, Alexion Pharmaceuticals, and Novo Nordisk A/S. Mr. Boesgaard holds a Bachelor of Science in Business Administration from the Copenhagen Business School and a Master of Business Administration from the Richard Ivey School of Business, Western University, Ontario, Canada.

Stephan Toutain

Mr. Toutain joined PDS Biotech in May 2024 as Chief Operating Officer. He brings over 30 years of operational experience in the life sciences industry from drug development, general management, operations, commercial development, market access and sales and marketing leadership with prior expertise in oncology and orphan drugs markets globally. Before joining PDS Biotech, Mr. Toutain served as Chief Operating Officer at Anavex Life Sciences and Chief Commercial Officer at Interleukin Genetics. He also worked with Alnylam Pharmaceuticals to build its early access program. In addition, Mr. Toutain led Global Commercial Development for Sarepta Therapeutics and served as General Manager for Alexion Pharmaceuticals in Europe. He has also held various U.S. commercial, marketing and product management positions with Celgene Corporation and Johnson & Johnson. Mr. Toutain received a Master of Business Administration from the University of North Carolina Kenan-Flagler Business School, and a Master of Engineering in Biotechnology from the University of Nancy II in France.

Spencer Brown

Mr. Brown has served as Senior Vice President, General Counsel and Corporate Secretary of PDS Biotech since June 2022 and has served as Compliance Officer since October 2023. Mr. Brown previously served as Vice President, Legal Affairs from January 2018 to January 2022 and as Senior Vice President, Legal Affairs and Compliance Officer from January 2022 to May 2022, for Aclaris Therapeutics, Inc. (Nasdaq: ACRS). Prior to joining Aclaris Therapeutics, Inc., Mr. Brown worked nearly eight years at GE Healthcare as Senior Commercial Counsel for the Life Sciences Core Imaging business in Princeton, New Jersey. Prior to that, Mr. Brown spent almost ten years at AstraZeneca Pharmaceuticals in Wilmington, Delaware where he provided legal support for most of the company’s therapeutic areas at some point during his tenure. Mr. Brown has over two decades of in-house experience in the life sciences industry. Mr. Brown began his legal career as an associate at Skadden, Arps, Slate, Meagher & Flom. Mr. Brown earned his bachelor’s degree at Princeton University and obtained his juris doctorate degree from the University of Pennsylvania Carey School of Law.

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EXECUTIVE COMPENSATION

We qualify as a smaller reporting company (“SRC”) under SEC rules. As such, for purposes of Executive Compensation, the Company’s named executive officers are determined under rules prescribed for an SRC as noted below. As an SRC, we may elect to omit certain disclosures that are not required under the reporting requirements for SRCs, including providing compensation disclosure and analysis under Item 402(b) of Regulation S-K.

Summary Compensation Table

The following table sets forth information for the years ended December 31, 2025 and December 31, 2024 concerning compensation of (i) all individuals serving as our principal executive officer for the year ended December 31, 2025, (ii) our two most highly compensated executive officers, other than our principal executive officer, who were serving as executive officers as of December 31, 2025 and (iii) up to two of our most highly compensated executive officers, other than our principal executive officer, that were not serving as executive officers as of December 31, 2025. We refer to these executives as the named executive officers. In accordance with the rules promulgated by the SEC, certain columns relating to information that is not applicable have been omitted from this table.

			Year			Salary $			Bonus $			Option Awards(1) $			All Other Compensation $(2)			Total $
Frank Bedu-Addo, Ph.D. Chief Executive Officer			2025			615,322			—			193,500			19,485			828,307
			2024			597,000			—			1,647,000			19,169			2,263,569
Kirk Shepard, M.D.(3) Chief Medical Officer			2025			463,500			—			193,500			20,318			677,318
			2024			426,346			45,000			840,000			14,250			1,325,596
Stephan Toutain(4) Chief Operating Officer			2025			463,500			—			193,500			16,629			673,629
			2024			300,000			30,038			600,000			9,750			939,788

(1)
Amounts shown in this column do not reflect actual compensation received by the named executive officers. The amounts reflect the grant date fair value of stock option awards and are calculated in accordance with the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718-Stock Compensation, and assume no forfeiture rate derived in the calculation of the grant date fair value of these awards. Assumptions used in calculating the value of these awards are included in Note 8, “Stock Based Compensation” in the notes to the Company’s financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. The executive will only realize compensation to the extent the trading price of the Company’s common stock is greater than the exercise price of such stock options at the time such options are exercised.

(2)
“All Other Compensation” consists of the Safe Harbor 401(k) match under the Company’s 401(k) plan

(3)
Dr. Shepard’s employment start date with the Company was January 22, 2024.

(4)
Mr. Toutain’s employment start date with the Company was May 1, 2024.

Narrative to Summary Compensation Table

Key Performance Factors in Determining Executive Compensation

Because the biopharmaceutical industry is characterized by a very long product development cycle, including a lengthy R&D period and a rigorous regulatory approval process, including the requirements for multiple phases of human testing and the need to meet a significant number of other government requirements, many of the traditional financial performance metrics, such as product sales, revenues and profits, used to evaluate successful performance are inappropriate for a biopharmaceutical company with a continued development focus, such as PDS Biotech. Instead, the specific performance our Compensation Committee considers when evaluating the compensation of our named executive officers include:

• key R&D achievements

• initiation and progress of clinical trials for our product candidates;

• achievement of regulatory milestones;

• new business initiatives including financings;

• our progress in building out key functions and managing our growth while maintaining a high-performing organization and culture; and

• increasing shareholder value.

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Annual corporate goals are proposed by our senior leadership team at the beginning of each year and approved by our Board of Directors. During the first quarter of each year, our Compensation Committee, with the input of the senior leadership team, evaluates our corporate performance for the prior year against the corporate goals set for that year, and, taking into account other corporate achievements and developments, recommends a corporate performance rating to be approved by our Board of Directors.

During the first quarter of each year, our Compensation Committee typically evaluates compensation levels of our executive officers, for such year, including the amount of each executive officer’s base salary, target annual bonus and annual equity awards, taking into consideration the compensation paid by our peer group, our prior year’s overall corporate performance against the established corporate goals, as well as each individual executive officer’s contributions to achievement of such corporate goals, individual performance and the other factors described above, in making compensation recommendations to our Board of Directors. Our Board of Directors considers these recommendations in determining the compensation for our executive officers for the applicable year.

Elements of Executive Compensation

The compensation of our named executive officers consists of base salary, annual cash bonuses and equity awards, as well as employee benefits that are made available to our salaried employees generally. Our named executive officers are also entitled to compensation and benefits upon certain terminations of employment, including following a change of control transaction, as described under “Employment Agreements” below.

On March 14, 2022, we entered into an amended and restated employment agreement with Dr. Bedu-Addo. We entered into employment agreements with Dr. Shepard and Mr. Toutain upon their commencement of employment in a substantially similar form as Dr. Bedu-Addo’s employment agreement in order to provide consistency among our executive officers. The terms of the employment agreements are summarized below. The form of employment agreement was reviewed by our Board of Directors and by the Compensation Committee’s independent compensation consultant to determine whether its provisions are consistent with the employment agreements of our benchmarking peer group. In March 2022, the form of employment agreement was approved by the Compensation Committee, both for use as a form and with respect to the specific terms applicable to each executive officer. Although we believe that each company in our benchmarking peer group understandably has forms of employment agreements that are different from ours, we believe key employment contract provisions covering our executive officers are in line with market practice and provide terms designed to attract and retain executive officers.

Base Salaries

We pay our named executive officers a base salary to compensate them for the satisfactory performance of services rendered to the Company. The base salary payable to each named executive officer is intended to provide a fixed component of compensation reflecting the executive’s skill set, experience, role and responsibilities. Base salaries for our named executive officers have generally been set at levels deemed necessary to attract and retain individuals with superior talent and were originally established in each named executive officer’s employment agreement.

Dr. Bedu-Addo received a base salary of $615,322 in 2025 and $597,000 in 2024. Dr. Shepard received a base salary of $463,500 in 2025 and $450,000 in 2024 (pro-rated for the 2024 calendar year based on his employment start date in 2024). Mr. Toutain received a base salary of $463,500 in 2025 and $450,000 in 2024 (pro-rated for the 2024 calendar year based on his employment start date in 2024).

Performance Bonuses

We offer our named executive officers the opportunity to earn discretionary annual cash bonuses to compensate them for attaining short-term company and individual performance goals, subject to continued employment through the applicable payment date of such bonus. Each named executive officer has an annual target bonus that is expressed as a percentage of his annual base salary. The 2025 target bonus amounts for each of Dr. Bedu-Addo, Dr. Shepard and Mr. Toutain were as follows:

Executive			2025 Target Bonus
Frank Bedu-Addo, Ph.D.			Up to 55% of Base Salary
Kirk Shepard, M.D.			Up to 40% of Base Salary
Stephan Toutain			Up to 40% of Base Salary

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The Compensation Committee retains the discretion to reduce or eliminate any discretionary annual cash bonuses that might otherwise be payable, including in order to conserve cash for operations or capital expenditures supporting future growth in furtherance of our strategic priorities, or for other business opportunities that could either preserve or enhance stockholder value. Pursuant to this discretion, the Compensation Committee determined not to pay any discretionary annual cash bonuses to our named executive officers with respect to the 2025 performance year. The Compensation Committee’s decision was not a reflection of the individual performance of any of our NEOs.

Equity Compensation

PDS Biotechnology Corporation 2014 Equity Incentive Plan

In 2014, the Company’s stockholders approved the 2014 Equity Incentive Plan (the “Original Plan”) pursuant to which the Company was permitted to grant up to 91,367 shares subject to awards of incentive stock options (“ISOs”), non-qualified stock options and restricted stock units, subject to increases as hereafter described (the “Plan Limit”). In addition, on January 1, 2015, and each January 1 thereafter and prior to the termination of the 2014 Equity Incentive Plan, pursuant to the terms of the Original Plan, the Plan Limit was increased by the lesser of (x) 4% of the number of shares of Common Stock outstanding as of the immediately preceding December 31 and (y) such lesser number as the Board of Directors determined in its discretion.

In March 2019, the Board adopted and the Company’s stockholders approved the Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan (the “Prior Plan”) which amended and restated the Original Plan in order to remove the annual increase component and which fixed the number of shares of Common Stock authorized for issuance under the Prior Plan to 826,292 shares.

On December 8, 2020, the Board adopted and on June 17, 2021, the stockholders approved, the Second Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan (the “Restated Plan”), which amended and restated the Prior Plan. The Restated Plan was identical to the Prior Plan in all material respects, except (a) the number of shares of Common Stock authorized for issuance under the Restated Plan was increased from 826,292 shares to 4,165,535 shares, plus the total number of shares that remained available for issuance, that were not covered by outstanding awards issued under the Prior Plan, immediately prior to December 8, 2020; and (b) the Prior Plan was amended to terminate on December 7, 2030, unless earlier terminated.

On May 19, 2023, the Board adopted and on July 14, 2023, the stockholders approved, the Third Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan (the “Third Restated Plan”), which amended and restated the Restated Plan to increase the total number of shares authorized for issuance thereunder from 4,165,535 shares to 6,565,535 shares.

On April 28, 2025, the Board adopted and on June 11, 2025, the stockholders approved, an amendment to the Third Restated Plan, which amendment increased the total amount of shares authorized for issuance under the Third Restated Plan to the sum of (i) 4,165,535 shares of Common Stock, which was the total number of shares of common stock authorized for issuance under the Restated Plan, plus (ii) 2,400,000 shares of common stock, which reflects the additional shares of common stock authorized by the Board under the Third Restated Plan as of its effective date, plus (iii) 3,144,049 shares of common stock that were approved at the Company’s 2025 Annual Meeting of Stockholders. As of December 31, 2025, there were 3,741,247 shares available for grant under the Third Restated Plan, as amended.

2018 Stock Incentive Plan

In 2018, the Company’s stockholders approved the 2018 Stock Incentive Plan pursuant to which the Company may grant up to 558,071 shares subject to awards of (i) stock options, (ii) stock appreciation rights, (iii) restricted stock, (iv) deferred stock, (v) stock reload options and/or (vi) other stock-based awards. As of December 31, 2025, there were 190,799 shares of this pre-merger legacy plan left un-issued.

2019 Inducement Plan

On June 17, 2019, the Board adopted the 2019 Inducement Plan (the “Inducement Plan”) pursuant to which the Company may grant awards of non-qualified stock options. On December 8, 2020, the Company amended the Inducement Plan solely to increase the total number of shares of common stock reserved for issuance under the Inducement Plan from 200,000 shares to 500,000 shares. On May 17, 2022, the Company further amended the Inducement Plan solely to increase the total number of shares of Common Stock reserved for issuance under the

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Inducement Plan from 500,000 shares to 1,100,000 shares. On January 22, 2024, the Company further amended the Inducement Plan solely to increase the total number of shares of Common Stock reserved for issuance under the Inducement Plan from 1,100,000 shares to 2,100,000 shares. The Inducement Plan, and each amendment thereto, was recommended for approval by the Compensation Committee of the Board and subsequently approved and adopted by the Board without stockholder approval pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.

The Inducement Plan is administered by the Compensation Committee of the Board. In accordance with Rule 5635(c)(4) of the Nasdaq Listing Rules, non-qualified stock options under the Inducement Plan may only be made to an employee who has not previously been an employee of the Company or member of the Board of Directors of the Company (or any parent or subsidiary of the Company), if he or she is granted such non-qualified stock options in connection with his or her commencement of employment with the Company or a subsidiary and such grant is an inducement material to his or her entering into employment with the Company or such subsidiary. As of December 31, 2025, there were 1,087,407 shares available for grant under the Inducement Plan.

Stock Options

Pursuant to the terms of the Third Restated Plan (as amended) and the 2018 Stock Incentive Plan, ISOs granted pursuant to such plans have a term of ten years from the date of grant or such shorter term as may be provided in the option agreement. Unless specified otherwise in an individual option agreement, ISOs generally vest over a four-year period. Unless terminated by the Board, the plans shall continue to remain effective for a term of ten years or until such time as no further awards may be granted and all awards granted under the plans are no longer outstanding.

Our stock option awards have an exercise price at least equal to the fair market value of our common stock on the date of grant and typically vest as to 25% of the underlying shares on the first anniversary of the date of grant and in equal monthly installments over the following 36 months, subject to the holder’s continued employment with us and potential accelerated vesting in certain circumstances, including as described below for our named executive officers in the section titled “Employment Agreements.” Our stock option awards granted pursuant to the Third Restated Plan (as amended) and the 2018 Stock Incentive Plan may be intended to qualify as incentive stock options under the Internal Revenue Code.

In accordance with Item 402(x) of Regulation S-K, we are providing information regarding our procedures related to the grant of stock options close in time to the release of material non-public information. Neither our Board nor our Compensation Committee takes material non-public information into account when determining the timing of equity awards, nor do we time the disclosure of material non-public information for the purpose of impacting the value of executive compensation. We generally issue equity awards to our executive officers on a limited and infrequent basis, and not in accordance with any fixed schedule.

The following table presents information required by Item 402(x)(2) of Regulation S-K regarding stock options issued to our named executive officers in fiscal year 2025 during the period beginning four business days before and ending one business day after the filing of a current report on Form 8-K that disclosed material non-public information:

Name			Grant Date			Number of Securities Underlying the award)			Exercise Price of the Award ($/Sh)			Grant Date Fair Value of the Award			Percentage Change in the Closing Market Price of the Securities Underlying the Award Between the Trading Day Ending Immediately Prior to the Disclosure of Material Nonpublic Information and the Trading Day Beginning Immediately Following the Disclosure of Material Nonpublic Information
Frank Bedu-Addo, Ph.D.			6/12/2025			150,000			1.79			$193,500			6.55%
Kirk Shepard, M.D.			6/12/2025			150,000			1.79			$193,500			6.55%
Stephan Toutain			6/12/2025			150,000			1.79			$193,500			6.55%

Retirement, Health, Welfare and Additional Benefits

Our executive officers are eligible to participate in our employee benefit plans and programs, including medical and dental benefits, flexible spending accounts, short- and long-term disability and life insurance, to the same extent as our other full-time employees, subject to the terms and eligibility requirements of those plans. We provide no perquisites or other personal benefits to the named executive officers that are not available to all full-time employees of the Company.

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We sponsor a 401(k) defined contribution plan in which our named executive officers may participate, subject to limits imposed by the Internal Revenue Code of 1986, as amended, to the same extent as our other full-time employees. Currently, we match 100% of each of our employees’ contributions up to 3% of their salary and 50% of each employee’s contribution between 3% and 5% of their salary for a maximum contribution of 4% of the applicable employee’s salary. Other than the 401(k) plan, we do not provide any qualified or non-qualified retirement or deferred compensation benefits to our employees, including our named executive officers.

Employment Agreements

PDS Biotech is a party to employment agreements with each of (i) Dr. Bedu-Addo, effective October 11, 2018, and as amended and restated on March 14, 2022, (ii) Dr. Shepard, M.D., effective January 22, 2024 and (iii) Mr. Toutain, effective as of May 1, 2024.

The base salary and target bonus for each executive as effective in 2025 are as follows:

Executive			Base Salary			Target Bonus
Frank Bedu-Addo, Ph.D.			$615,322			Up to 55% of Base Salary
Kirk Shepard, M.D			$463,500			Up to 40% of Base Salary
Stephan Toutain			$463,500			Up to 40% of Base Salary

If PDS Biotech terminates Dr. Bedu-Addo’s employment without Cause, he resigns for Good Reason (each as defined in the employment agreement), or Dr. Bedu-Addo’s employment is terminated due to his death, Dr. Bedu-Addo will be entitled to receive accrued benefits including accrued but unpaid salary and bonus, unreimbursed business expenses, and benefits owed under any qualified retirement plan or health and welfare benefit plan (the “Accrued Obligations”), and the following severance benefits: (i) his base salary for twenty-four (24) months; (ii) bonus equal to the greater of (A) the bonus paid in the prior performance year and (B) the bonus that Dr. Bedu-Addo would have earned, for the performance year in which the termination occurs, on a prorated basis through the date which he continued to provide services; (iii) outstanding equity held by Dr. Bedu-Addo as of the date of the termination will become 100% vested and outstanding options will remain exercisable until the earliest of (A) 18 months following the termination date, (B) the original 10-year expiration date for the options, and (C) termination of the equity plan; (iv) benefits continuation for twenty-four (24) months, paid as supplemental cash compensation in an amount equal to 1.3 times each payment of the expenses paid by Dr. Bedu-Addo for welfare benefit coverage, and (v) in the event of a termination without Cause or if Dr. Bedu-Addo resigns for Good Reason within ninety (90) days before and twenty-four (24) months following the effective date of a Change in Control (as defined in the employment agreement) (the “Protection Period”), instead of the bonus referenced in clause (ii) above, Dr. Bedu-Addo will receive a bonus equal to his target annual performance-based cash bonus. If Dr. Bedu-Addo’s employment is terminated for Cause, based on his Disability (as defined in the employment agreement), or he resigns for any reason other than for Good Reason, he will only receive the Accrued Obligations.

With respect to each of Dr. Shepard and Mr. Toutain, if PDS Biotech terminates the executive’s employment without Cause or the executive resigns for Good Reason (each as defined in the applicable executive’s employment agreement), he will be entitled to receive the Accrued Obligations and the following severance benefits: (i) base salary for twelve (12) months; (ii) benefits continuation for twelve (12) months, and (iii) if terminated during the Protection Period, in addition to the base salary and benefits continuation, the executive will also receive a payment equal to his target bonus, and any outstanding equity as of the closing of a Change in Control (as defined in the applicable executive’s employment agreement) will become 100% vested if the executive’s outstanding equity is assumed or continued by the surviving entity.

In addition, each of the employment agreements for Dr. Bedu-Addo, Dr. Shepard and Mr. Toutain (i) provide that the executive may be eligible for certain grants of equity awards of common stock of PDS Biotech subject to vesting and other terms and conditions of PDS Biotech’s equity plans and an award agreement, subject to approval of the compensation committee, (ii) provide that if any payment or distribution would be nondeductible by PDS for federal income tax purposes because of Section 280G of the Internal Revenue Code, PDS Biotech shall reduce the aggregate present value of the payment only if reducing the payment will provide the executive with a greater net after-tax amount, (iii) provide for certain confidentiality, intellectual property, cooperation, non-competition, non-solicitation and non-disparagement undertakings, and (iii) require the execution and non-revocation of a general release of claims in favor of PDS Biotech as a condition to receipt of severance benefits.

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Outstanding Equity Awards at Fiscal Year-End

The table below sets forth the number of securities underlying outstanding plan awards for each named executive officer as of December 31, 2025.

			Option Awards												Stock Awards
			Number of Securities Underlying Unexercised Options Exercisable			Number of Securities Underlying Unexercised Options Unexercisable(1)			Option Exercise Price			Grant Date			Option Expiration Date			Number of Shares or Units of Stock That Have Not Vested			Market Value of Shares or Units of Stock That Have Not Vested(2)
Frank Bedu-Addo, Ph.D.			—			—			—			06/12/2025			—			300,000			$230,940
			—			150,000			$1.79			06/12/2025			06/12/2035
			138,082			161,918			$5.87			02/28/2024			02/28/2034
			287,919			97,381			$11.61			01/05/2023			01/05/2033
			287,906			3,594			$6.28			01/19/2022			01/19/2022
			707,800			—			$2.43			12/08/2020			12/08/2030
			125,000			—			$1.45			06/23/2020			06/23/2030
			100,000			—			$5.99			06/28/2019			06/28/2029
			53,173			—			$9.04			03/14/2019			03/14/2029
			179,486			—			$9.04			03/14/2019			03/14/2029
Kirk Shepard, M.D.			—			—			—			06/12/2025			—			100,000			$76,980
			—			150,000			$1.79			06/12/2025			06/12/2035
			97,123			102,877			$4.49			01/22/2024			01/22/2034
Stephan Toutain			—			—			—			06/12/2025			—			100,000			$76,980
			—			150,000			$1.79			06/12/2025			06/12/2035
			83,425			116,575			$3.61			05/24/2024			05/24/2034

(1)
Except as otherwise noted, options vest with respect to one-fourth of the underlying shares on the first anniversary of the grant date and in equal installments of 1⁄36 of the underlying shares on each monthly anniversary of the grant date thereafter for the subsequent 36 months.

(2)
The amounts in this column are determined by multiplying (i) the number of restricted stock units (“RSUs”) shown in the previous column by (ii) $0.7698 (the closing price of the Company’s common stock on December 31, 2025).

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Pay Versus Performance Disclosure

The following table sets forth information regarding the compensation actually paid to our Chief Executive Officer and our other named executive officers compared to certain performance measures for the years ended December 31, 2024, 2023 and 2022.

The disclosure included in this section is prescribed by SEC rules and does not necessarily align with how we or our Compensation Committee views the link between company performance and our named executive officers’ pay. As a clinical-stage biotech company, our executive compensation program does not utilize the Company’s financial results as the primary indicator to determine executive compensation. We believe that the creation of sustainable long-term stockholder value depends on our ability to successfully advance our pipeline, and ultimately, bring those product candidates to market. Consequently, our Compensation Committee has designed our executive compensation program to incentivize our executive officers to create that value through the discovery and development of a robust and attractive pipeline of drug candidates. In determining the amount of the annual incentive award for each of our executive officers, including each of our named executive officers, the Compensation Committee evaluated the corporate performance objectives that had been established at the beginning of the calendar year as well as other corporate and individual achievements and performance throughout the year. These performance objectives included clinical milestones for our lead product candidates, research and development milestones for our early-stage drug candidates and other business objectives. Additionally, grants of equity awards, primarily stock options, to our executive officers are intended to incentivize future value creation and to align the long-term interests of our executive officers with shareholders. The Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown.

The “Compensation Actually Paid”, which is presented in the table below, is defined by the SEC and does not reflect amounts actually paid, earned or received by our named executive officers. A significant portion of the “Compensation Actually Paid” amounts shown relate to changes in values of unvested awards over the course of the applicable reporting year. These unvested awards remain subject to significant risk from forfeiture conditions and possible future declines in value based on changes in our share price. The ultimate values actually realized by our named executive officers from unvested equity awards, if any, cannot be determined until the awards fully vest and are exercised or settled, as the case may be.

Year			Summary Compensation Table Total for PEO(1)(2)			Compensation Actually Paid to PEO(3)			Average Summary Compensation Table Total for non-PEO NEOs(1)(2)			Average Compensation Actually Paid to non-PEO NEOs(3)			Total Shareholder Return(4)			Net Loss
2025			$828,307			$630,194			$675,474			$540,032			$5.83			($34,495,505)
2024			$2,263,569			($217,793)			$1,132,692			$692,692			$12.35			($37,610,384)
2023			$5,011,234			($2,385,190)			$1,810,005			($584,425)			$37.65			($42,942,198)

(1)
For each year shown, the principal executive officer (“PEO”) was Dr. Bedu-Addo, our Chief Executive Officer. For 2025 and 2024, the other Named Executive Officers (“NEOs”) were Dr. Shepard and Mr. Toutain. For 2023, the other Named Executive Officers (“NEOs”) were Dr. Wood, Mr. Hill and Dr. Conn.

(2)
The values reflected in this column reflect the “Total” compensation set forth in the Summary Compensation Table (“SCT”) above. See the footnotes to the SCT for further detail regarding the amounts in this column.

(3)
“Compensation Actually Paid” is defined by the SEC and is computed in accordance with SEC rules by subtracting the amounts in the “Option Awards” column of the SCT for each year from the “Total” column of the SCT and then: (i) adding the fair value as of the end of the reported year of all awards granted during the reporting year that are outstanding and unvested as of the end of the reporting year; (ii) adding the amount equal to the change as of the end of the reporting year (from the end of the prior year) in fair value (whether positive or negative) of any awards granted in any prior year that are outstanding and unvested as of the end of the reporting year; (iii) adding, for awards that are granted and vest in the reporting year, the fair value as of the vesting date; (iv) adding the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value (whether positive or negative) of any awards granted in any prior year for which all applicable vesting conditions were satisfied at the end of or during the reporting year; (v) subtracting, for any awards granted in any prior year that are forfeited during the reporting year, the amount equal to the fair value at the end of the prior year; and (vi) adding the value of any dividends (or dividend equivalents) paid in the reporting year on unvested equity awards and the value of accrued dividends (or dividend equivalents) paid on performance awards that vested in the reporting year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.

(4)
The cumulative total shareholder return (“TSR”) is based on a fixed $100 investment made on December 31, 2022.

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The following tables reflect the adjustments made to SCT total compensation to compute “Compensation Actually Paid” for our PEO and average for our other NEOs.

PEO			SCT Total Comp			Grant Date Fair Value of Equity Awards Granted in Fiscal Year			Fair Value at Fiscal Year End of Outstanding and Unvested Equity Awards Granted in the Fiscal Year			Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years			Fair Value at Vesting of Equity Awards Granted and Vested in the Fiscal Year			Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior Fiscal Years that Vested in the Fiscal Year			Equals Compensation Actually Paid
2025			$828,307			($193,500)			$329,730			($218,636)			$0			($115,707)			$630,194
2024			$2,263,569			($1,647,000)			$408,000			($848,092)			$0			($394,271)			($217,793)
2023			$5,011,234			($4,157,387)			$1,672,202			($2,684,272)			$0			($2,226,967)			($2,385,190)

Other NEOs (Average)			SCT Total Comp			Grant Date Fair Value of Equity Awards Granted in Fiscal Year			Fair Value at Fiscal Year End of Outstanding and Unvested Equity Awards Granted in the Fiscal Year			Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years			Fair Value at Vesting of Equity Awards Granted and Vested in the Fiscal Year			Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior Fiscal Years that Vested in the Fiscal Year			Fair Value as of the Prior Fiscal Year End of Equity Awards Granted in Prior Fiscal Years that Failed to Meet Vesting Conditions in the Fiscal Year			Equals Compensation Actually Paid
2025			$675,474			($193,500)			$175,730			($93,552)			$0			($24,120)			$0			$540,032
2024			$1,132,692			($720,000)			$280,000			$0			$0			$0			$0			$692,692
2023			$1,810,005			($1,471,756)			$358,773			($500,342)			$0			($472,914)			($308,191)			($584,425)

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Compensation Actually Paid and Cumulative Total Shareholder Return

The graph below compares the compensation actually paid to our PEO and the average of the compensation actually paid to our remaining NEOs, with our cumulative total shareholder return for the fiscal years ended December 31, 2025, 2024 and 2023. Total Shareholder Return amounts reported in the graph assume an initial fixed investment of $100 on December 31, 2022.

Compensation Actually Paid and Net Loss

The graph below compares the compensation actually paid to our PEO and the average of the compensation actually paid to our remaining NEOs, with our net loss for the fiscal years ended December 31, 2025, 2024 and 2023.

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Item 402(x) of Regulation S-K

We are providing information regarding our procedures related to the grant of stock options close in time to the release of material non-public information. It is our policy that neither our Board nor our compensation committee takes material non-public information into account when determining the timing of equity awards, nor do we time the disclosure of material non-public information for the purpose of impacting the value of executive compensation. During fiscal 2025, there were no stock option or stock appreciation right awards granted to any named executive officers within four business days preceding, or one business day after, the filing of any report on Forms 10-K, 10-Q, or 8-K that disclosed material nonpublic information.

Director Compensation

Director Compensation Policy

In June 2019, we adopted a director compensation policy. The director compensation policy was amended in April 2025, as described below, following a review of the program by our Compensation Committee. Pursuant to the policy, the annual cash retainer for non-employee directors is $40,000 and the annual cash retainer for the chair of the Board is $70,000. Annual retainers for committee membership are as follows:

Committee			Annual Retainer
Audit Committee Chairperson			$18,500
Audit Committee Member			$8,000
Compensation Committee Chairperson			$15,000
Compensation Committee Member			$7,500
Nominating and Corporate Governance Committee Chairperson			$8,000
Nominating and Corporate Governance Committee Member			$4,000

These fees are payable in arrears in four equal quarterly installments on the last day of each quarter, provided that the amount of such payment will be prorated for any portion of such quarter that a director is not serving on our Board, on such committee or in such position. Non-employee directors are also reimbursed for reasonable out-of-pocket business expenses incurred in connection with attending meetings of the Board and any committee of the board of directors on which they serve and in connection with other business related to the Board. Directors may also be reimbursed for reasonable out-of-pocket business expenses authorized by the board of directors or a committee that are incurred in connection with attending conferences or meetings with management in accordance with a travel policy, as may be in effect from time to time.

In addition to the above fees, the Board may determine that additional committee fees are appropriate and should be payable for any newly created committee of the Board.

In addition, pursuant to the changes made to our director compensation policy in April 2025, starting with fiscal year 2025, we grant new non-employee directors upon their initial election to the Board, an option to purchase 22,700 shares of our common stock at an exercise price equal to the closing price of our common stock on the date of grant. Each of these options has a term of 10 years from the date of the award and 1/3 of these options vest on each of the first, second and third anniversaries of the date of grant, subject to the non-employee director’s continued service as a director. This vesting accelerates as to 100% of the shares subject to an award upon a change in control of the Company.

Further, pursuant to the changes made to our director compensation policy in April 2025, on the dates of each of our annual meetings of stockholders, each non-employee director that has served on our Board for at least six months automatically receives an option to purchase 22,700 shares of our common stock at an exercise price equal to the closing price of our common stock on the date of the grant and each non-employee director that has served on our Board for less than six months shall receive an option for a pro rata number of shares. Each of these options has a term of 10 years from the date of the award and vest in full on the first anniversary of the date of grant, subject to the non-employee director’s continued service as a director, with 100% acceleration of vesting upon a change in control of the Company.

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The table below summarizes the compensation paid by PDS Biotech to each non-employee director for the year ended December 31, 2025:

Name			Fees Earned Or Paid in Cash $			Option Awards $(1)			Total $
Gregory Freitag, J.D., CPA(2)			62,500			26,559			89,819
Stephen Glover(3)			93,000			26,559			120,319
Kamil Ali-Jackson, J.D.(4)			63,500			26,559			90,819
Ilian Iliev, Ph.D.(5)			40,000			26,559			67,319
Otis Brawley, M.D.(6)			40,000			26,559			67,319

(1)
The amounts shown in this column do not reflect actual compensation received by our directors. The amounts reflect the grant date fair value of option awards and are calculated in accordance with the provisions of FASB Accounting Standards Codification Topic 718 Compensation - Stock Compensation and assume no forfeiture rate derived in the calculation of the grant date fair value of these awards. Assumptions used in calculating the value of these awards are included in Note 8, “Stock-Based Compensation” in the notes to the Company’s financial statements included in our most recent Annual Report on Form 10-K. The director will only realize compensation to the extent the trading price of PDS Biotech’s common stock is greater than the exercise price of such stock options at the time such options are exercised.

(2)
Mr. Freitag was appointed as a director of our Board on March 15, 2019. Mr. Freitag held an aggregate of 87,918 option awards as of December 31, 2025.

(3)
Mr. Glover was appointed to our Board on April 2, 2019. Mr. Glover held an aggregate of 76,700 option awards as of December 31, 2025.

(4)
Ms. Ali-Jackson was appointed to our Board on February 21, 2020. Ms. Ali-Jackson held an aggregate of 70,733 option awards as of December 31, 2025.

(5)
Dr. Iliev was appointed to our Board on April 8, 2020. Dr. Iliev held an aggregate of 65,074 option awards as of December 31, 2025.

(6)
Dr. Brawley was appointed to our Board on November 3, 2020. Dr. Brawley held an aggregate of 67,700 option awards as of December 31, 2025.

Narrative to Director Compensation Table

All cash and option awards described in the above table were paid to the Company’s non-employee directors pursuant to the Company’s director compensation policy for non-employee directors, as described in detail above under the heading “Director Compensation.”

Commitment to Corporate Responsibility

PDS Biotech’s corporate responsibility is fundamental to our long-term success. It is also now more than ever important to our stakeholders. We have a commitment to environmental, social and governance (“ESG”) issues.

Environmental Factors: As we continue to expand our operations, we have initiated certain projects to begin tracking our environmental impact, and where feasible, have taken measures to increase our sustainability efforts. Some of our efforts include our commitment to reduce, reuse or recycle where possible or appropriate.

Social Factors: Our future performance depends significantly upon the continued service of our key employees and personnel and our continued ability to attract and retain highly skilled employees. We provide our employees with competitive salaries and bonuses, opportunities for equity ownership, development programs that enable continued learning and growth and a robust employment package that promotes well-being across all aspects of their lives. In addition to salaries, these programs include potential annual discretionary bonuses, stock awards, a 401(k) plan, healthcare and insurance benefits, health savings and flexible spending accounts, paid time off, family leave, and flexible work schedules, among other benefits. We may take further actions, in compliance with all appropriate government regulations, that we determine to be in the best interest of our employees.

Providing a Positive Working Environment For Our People: Managing our people responsibly and respectfully is critical to the ongoing success of our business. We promote safety, health, and wellbeing in the workplace. We strive to equip our people with the right skills to perform their roles, and we provide development initiatives and opportunity for our staff. We recognize their contributions to our business success in a diverse and inclusive environment in which each team member plays a unique and vital role.

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Ethics and Corporate Governance: We aspire to maintain the highest ethical standards. All of our employees are required to adhere to our Code of Conduct and Ethics, which provides, among other things, that all of our employees, officers and directors must (i) be truthful and honest both internally and in our business dealings with each other, and (ii) make all decisions responsibly, constructively and equitably without bias as to race, color creed, religion, national origin, sex, marital status, age, veteran’s status or membership in any other protected class or receipt of public assistance.

We will continue to focus on ESG issues during 2026.

INSIDER TRADING POLICY

We have adopted insider trading policies and procedures governing the purchase, sale, and other dispositions of our securities by us and our directors, officers, and employees that we believe are reasonably designed to promote compliance with insider trading laws, rules and regulations and applicable stock exchange listing standards. Our insider trading policy states, among other things, that we and our directors, officers, and employees are prohibited from trading in such securities while in possession of material, nonpublic information. The foregoing summary of our insider trading policies and procedures does not purport to be complete and is qualified by reference to our Insider Trading Policy filed as an exhibit to our 2025 Annual Report.

ANTI-HEDGING/ANTI-PLEDGING POLICY

Pursuant to our insider trading policy, our employees, executive officers and directors may not (a) hold our securities in a margin account, (b) pledge our securities as collateral for a loan or (c) enter into hedging or monetization transactions or similar arrangements with respect to our securities, in each case without the advance approval of our compliance officer.

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SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

Beneficial ownership is determined in accordance with the rules of the SEC and generally includes voting or investment power with respect to securities. In accordance with SEC rules, shares of our common stock which may be acquired upon exercise of stock options or warrants which are currently exercisable or which become exercisable within 60 days of the date of the applicable table below are deemed beneficially owned by the holders of such options and warrants and are deemed outstanding for the purpose of computing the percentage of ownership of such person, but are not treated as outstanding for the purpose of computing the percentage of ownership of any other person. Subject to community property laws, where applicable, the persons or entities named in the tables below have sole voting and investment power with respect to all shares of our common stock indicated as beneficially owned by them.

The following table sets forth information with respect to the beneficial ownership of our common stock as of June 15, 2026, the Record Date, by (i) each stockholder known by us to be the beneficial owner of more than 5% of our common stock (our only classes of voting securities), (ii) each of our directors and director nominees, (iii) each of our named executive officers and (iv) all of our directors and executive officers as a group. To the best of our knowledge, except as otherwise indicated, each of the persons named in the table has sole voting and investment power with respect to the shares of our common stock beneficially owned by such person, except to the extent such power may be shared with a spouse. To our knowledge, none of the shares listed below are held under a voting trust or similar agreement, except as noted.

Unless otherwise indicated, the address of each beneficial owner listed in the table below is c/o PDS Biotechnology Corporation, 303A College Road East, Princeton, NJ 08540.

			Beneficial Ownership
Name of Beneficial Owner			Shares			%(1)
Greater than 5% Stockholders:
—			—			—
PDS Biotech Named Executive Officers and Directors:
Frank Bedu-Addo, Ph.D.(2)			2,723,880			4.9%
Gregory Freitag(3)			149,131			*
Stephen Glover(4)			155,551			*
Kamil Ali-Jackson, J.D.(5)			82,497			*
Ilian Iliev, Ph.D.(6)			65,074			*
Otis Brawley, M.D.(7)			67,700			*
Kirk Shepard(8)			172,055			*
Stephan Toutain(9)			158,356			*
All current executive officers and directors as a group (11 persons)			4,664,022			8.4%

*
Less than 1%

(1)
Percentage ownership is based on 55,815,653 shares of common stock outstanding as of June 15, 2026, together with securities exercisable or convertible into shares of common stock as of August 14, 2026, for each shareholder. Beneficial ownership is determined in accordance with the rules of the SEC and generally includes voting or investment power with respect to securities.

(2)
Includes 690,866 shares of common stock and 2,033,014 shares subject to outstanding options exercisable within 60 days of June 15, 2026.

(3)
Includes 61,213 shares of common stock and 87,918 shares subject to outstanding options exercisable within 60 days of June 15, 2026.

(4)
Includes 78,851 shares of common stock and 76,700 shares subject to outstanding options exercisable within 60 days of June 15, 2026.

(5)
Includes 11,764 shares of common stock and 70,733 shares subject to outstanding options exercisable within 60 days of June 15, 2026.

(6)
Includes 65,074 shares subject to outstanding options exercisable within 60 days of June 15, 2026.

(7)
Includes 67,700 shares subject to outstanding options exercisable within 60 days of June 15, 2026.

(8)
Includes 172,055 shares subject to outstanding options exercisable within 60 days of June 15, 2026.

(9)
Includes 158,356 shares subject to outstanding options exercisable within 60 days of June 15, 2026.

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SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION

PLANS AS OF DECEMBER 31, 2025

The following table contains information about our equity compensation plans as of December 31, 2025.

			(A)			(B)			(C)
Plan category			Number of securities to be issued upon exercise of outstanding options, warrants and rights			Weighted- average exercise price of outstanding options, warrants and rights			Number of Securities Remaining available for future issuance under equity compensation plans (excluding securities reflected in column (A))
Equity compensation plans approved by security holders			5,387,318(1)			$4.19			3,741,247
Equity compensation plans not approved by security holders			1,347,706(2)			$6.01			1,087,407
Total			6,735,024			$4.55			4,828,654

(1)
This reflects outstanding stock options (4,587,318) and outstanding RSUs (800,000) issued pursuant to the Third Amended and Restated PDS Biotechnology 2014 Equity Incentive Plan, as amended.

(2)
This reflects options issued pursuant to the PDS Biotechnology 2019 Inducement Plan, as amended, together with options issued by privately held PDS Biotechnology Corporation (“Private PDS Biotech”) outside of an equity compensation plan prior to the consummation of the reverse merger with the Private PDS Biotech, pursuant to and in accordance with the terms of the Agreement and Plan of Merger and Reorganization, dated as of November 23, 2018, as amended on January 24, 2019, by and among the Company, Echos Merger Sub, a wholly-owned subsidiary of Edge Therapeutics, Inc. (“Merger Sub”), and Private PDS Biotech, whereby Private PDS Biotech merged with and into Merger Sub, with Private PDS Biotech surviving as the Company’s wholly owned subsidiary (the “Merger”). In connection with and immediately following completion of the Merger, Edge Therapeutics, Inc. changed its name to PDS Biotechnology Corporation, and Private PDS Biotech changed its name to PDS Biotech Operating Corporation.

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CERTAIN RELATIONSHIPS AND RELATED-PARTY TRANSACTIONS

Other than employment agreements with our named executive officers and other payments made to our named executive officers, all as described below under the section entitled “Executive Compensation,” and compensation paid to directors as described above in the section titled “Director Compensation,” there were no transactions since January 1, 2024 or any currently proposed transactions, to which PDS has been a participant, in which:

• the amounts exceeded or will exceed the lesser of $120,000 and 1% of the average of PDS Biotech’s total assets at year-end for the fiscal years ended December 31, 2025 and 2024; and

• any of the directors, executive officers or holders of more than 5% of the respective capital stock, or any member of the immediate family of the foregoing persons, had or will have a direct or indirect material interest.

Our Audit Committee is charged with the responsibility of reviewing and approving all related person transactions (as defined in SEC regulations), and periodically reassessing any related person transaction entered into by PDS Biotech to ensure continued appropriateness. This responsibility is set forth in our Audit Committee charter. A related party transaction will only be approved if the members of the Audit Committee determine that the transaction is in the best interests of PDS Biotech. If a director is involved in the transaction, he or she will recuse himself or herself from all decisions regarding the transaction. In addition, the Audit Committee will review these transactions under our Code of Conduct, which governs conflicts of interests, among other matters, and is applicable to our employees, officers and directors.

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PROPOSAL 2

APPROVAL OF AN AMENDMENT TO OUR EIGHTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION, AS AMENDED, TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF OUR COMMON STOCK

Our Eighth Amended and Restated Certificate of Incorporation, as amended (the “Charter”), currently authorizes us to issue a total of 150,000,000 shares of common stock, with a par value of $0.00033 per share, and 5,000,000 shares of preferred stock, with a par value of $0.00033 per share, for a total of 155,000,000 shares of all classes. On June 1, 2026, the Board approved an amendment to the Charter (the “Authorized Shares Amendment”) to increase the number of shares of authorized common stock from 150,000,000 shares to 300,000,000 shares, subject to stockholder approval.

To be approved, this Proposal 2 must receive “For” votes from the majority of votes cast at the Annual Meeting proxy and that are entitled to vote on the matter. Abstentions are not counted as “votes cast” and will have no effect on the vote. Brokers have discretion to vote as this proposal is considered a “routine” matter. Therefore, we do not expect any broker non-votes on this Proposal 2.

The Board has unanimously determined that the Authorized Shares Amendment is advisable and in the best interests of the Company and our stockholders and recommends that our stockholders approve the Authorized Shares Amendment. In accordance with the General Corporation Law of the State of Delaware (the “DGCL”), we are hereby seeking approval of the Authorized Shares Amendment by our stockholders. No other changes to our Charter are being proposed. The Authorized Shares Amendment is not intended to modify the rights of existing stockholders in any material respect. The additional shares of common stock to be authorized pursuant to the proposed Authorized Shares Amendment will be identical to the shares of common stock currently authorized and outstanding under the Charter, none of which have preemptive or similar rights to acquire the newly authorized shares. Under the DGCL, our stockholders are not entitled to appraisal rights with respect to the proposed Authorized Shares Amendment and we will not independently provide stockholders with any such rights.

Reasons for the Authorized Shares Amendment

As of the Record Date, 55,815,653 shares of common stock were issued and outstanding and 2,130,309 shares of common stock are reserved for issuance under our equity plans. Therefore, we currently have only a limited number of authorized shares of common stock available for future issuance. The Board and management believe that the limited number of currently authorized but unissued and unreserved shares of common stock may restrict our ability to respond to our business needs and opportunities. The availability of additional shares of common stock for issuance will afford us flexibility by assuring that there will be sufficient authorized but unissued shares of common stock for business and financial purposes in the future. The additional shares may be used for various purposes without further stockholder approval. These purposes may include raising capital; providing equity incentives to employees, officers or directors; establishing strategic relationships with other companies; expanding our business or product lines through the acquisition of other businesses or products; stock splits and other corporate purposes.

In determining the magnitude of the Authorized Shares Amendment, the Board considered a number of factors, including our historical issuances of shares and potential future needs, our need to issue additional shares in connection with one or more future equity transactions, acquisitions or other strategic transactions and future issuances under equity compensation plans.

As of the date of this proxy statement, we have no current plans, arrangements or understandings regarding the issuance of any additional shares of common stock that would be authorized pursuant to this proposal, and there are no negotiations pending with respect to the issuance thereof for any purpose.

Potential Effects of Not Approving the Authorized Shares Amendment

Without an increase in the number of authorized shares of common stock, we may be constrained in our ability to raise capital in a timely fashion or at all and may be unable to complete our clinical programs, commercialize our products, or conduct important business activities, which could adversely affect our financial performance and growth. For example, if the requisite stockholders do not approve this proposal, then we may not have additional shares available or may be required to seek stockholder approval in connection with a transaction, which may delay or otherwise have a material adverse effect on us.

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Potential Effects of Approving the Authorized Shares Amendment

The proposed increase in the number of authorized shares of common stock will not have any immediate effect on the rights of our existing stockholders. However, the Board will have the authority to issue the additional shares of common stock without requiring future stockholder approval of such issuances, except as may be required by applicable law or rules of any stock exchange on which our securities may be listed, including The Nasdaq Stock Market LLC. The issuance of additional shares of common stock may decrease the relative percentage of equity ownership of our existing stockholders, thereby diluting the voting power of their common stock.

While the issuance of additional shares of common stock may be deemed to have potential anti-takeover effects, including by delaying or preventing a change in control through subsequent issuances of these shares and the other reasons set forth above, which, among other things, could include issuances in one or more transactions that would make a change in control more difficult, and therefore, less likely, this proposal to increase the authorized common stock is not prompted by any specific effort of which we are aware to accumulate shares of our common stock or obtain control of our company. A takeover may be beneficial to independent stockholders because, among other reasons, a potential suitor may offer such stockholders a premium for their shares of common stock as compared to the then-existing market price. Although the issuance of additional shares of common stock could, under certain circumstances, have an anti-takeover effect, this proposal is not in response to any effort to which we are aware of to accumulate common stock or obtain control of our company.

The additional authorized shares of common stock, if and when issued, would be part of the existing class of common stock and would have the same rights and privileges as the shares of common stock currently outstanding. Stockholders do not have preemptive rights with respect to our common stock. Therefore, should the Board determine to issue additional shares of common stock, existing stockholders would not have any preferential rights to purchase such shares in order to maintain their proportionate ownership thereof.

We can provide no assurance that we will be successful in amending our Charter to increase the number of shares of common stock that are available for issuance, or that the Authorized Shares Amendment will not have an adverse effect on our stock price.

Our directors and executive officers have no substantial interests, directly or indirectly, in the matters set forth in this proposed amendment, except to the extent of their ownership in shares of our common stock and securities convertible or exercisable for common stock.

Effectiveness of the Authorized Shares Amendment

The form of the Certificate of Amendment to the Charter to effect the Authorized Shares Amendment is attached as Appendix A to this proxy statement. If this Proposal 2 is approved by our stockholders, the Certificate of Amendment will become effective upon the acceptance by the Secretary of State of the State of Delaware of the filing of the Certificate of Amendment. Such filing is expected to occur promptly after stockholder approval of this proposal. If this Proposal 2 is not approved, the Charter would remain unchanged and the number of authorized shares of common stock would remain 150,000,000. Other than as described herein, this proposed Authorized Shares Amendment affects no other changes to our Charter.

THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS

A VOTE IN FAVOR OF PROPOSAL 2

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PROPOSAL 3

RATIFICATION OF SELECTION OF INDEPENDENT REGISTERED

PUBLIC ACCOUNTING FIRM

The Audit Committee has selected KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026 and has further directed that management submit the selection of its independent registered public accounting firm for ratification by the stockholders at the Annual Meeting. Representatives of KPMG LLP are expected to be present at the Annual Meeting. They will have an opportunity to make a statement if they so desire and will be available to respond to appropriate questions.

Neither our Bylaws nor other governing documents or law require stockholder ratification of the selection of KPMG LLP as our independent registered public accounting firm. However, the Audit Committee is submitting the selection of KPMG LLP to the stockholders for ratification as a matter of good corporate practice. If the stockholders fail to ratify the selection, the Audit Committee will reconsider whether or not to retain that firm. Even if the selection is ratified, the Audit Committee, in its discretion, may direct the appointment of a different independent registered public accounting firm at any time during the year if they determine that such a change would be in our best interests and the best interests of our stockholders.

Principal Accountant Fees and Services

The following table represents aggregate fees billed to PDS Biotech for the fiscal years ended December 31, 2025 and 2024, by KPMG LLP, PDS Biotech’s independent registered public accounting firm.

			Fiscal Year Ended 2025			Fiscal Year Ended 2024
Audit Fees			$1,024,224			$940,000
Audit-Related Fees			—			—
Tax Fees			—			—
All Other Fees			—			—
Total Fees			$1,024,224			$940,000

Audit fees: Audit fees consist of fees associated with the annual audit of our financial statements, the reviews of our interim financial statements, fees consist of fees incurred in connection with the issuance of consent and comfort letters in connection with registration statement filings with the SEC and all services that are normally provided by the accounting firm in connection with statutory and regulatory filings or engagements.

Audit-related fees: Audit-related fees includes fees for services that are traditionally performed by the auditor such as audits of employee benefit plans sponsored by the Company, due diligence assistance, SOC engagements, audits of financial statements of a carve-out entity in anticipation of a subsequent divestiture and other attest services.

Tax fees: Tax fees consist of fees for tax services, including tax compliance, and related expenses.

All KPMG LLP services and fees in the fiscal years ended December 31, 2025 and 2024 were pre-approved by the Audit Committee or its properly delegated authority.

Pre-Approval Policies and Procedures

The Audit Committee pre-approves audit and non-audit services rendered by our independent registered public accounting firm, KPMG LLP. The Audit Committee pre-approves specified services in the defined categories of audit services, audit-related services and tax services up to specified amounts. Pre-approval may also be given as part of the Audit Committee’s approval of the scope of the engagement of the independent auditor or on an individual, explicit, case-by-case basis before the independent auditor is engaged to provide each service. The pre-approval of services may be delegated to one or more of the Audit Committee’s members, but the decision must be reported to the full Audit Committee at its next scheduled meeting.

If KPMG LLP renders services other than audit services to us, the Audit Committee will determine whether the rendering of these services is compatible with maintaining KPMG LLP’s independence.

THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS

A VOTE IN FAVOR OF PROPOSAL 3

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Report of the Audit Committee of the Board of Directors

The Audit Committee of the Board, which consists entirely of directors who meet the independence and experience requirements of the Nasdaq listing rules, has furnished the following report:

The Audit Committee assists the Board in overseeing and monitoring the integrity of our financial reporting process, compliance with legal and regulatory requirements and the quality of internal and external audit processes. This committee’s role and responsibilities are set forth in our charter adopted by the Board, which is available on our website at www.pdsbiotech.com. The Audit Committee reviews and reassesses our charter annually and recommends any changes to the Board for approval. The Audit Committee is responsible for overseeing our overall financial reporting process, and for the appointment, compensation, retention, and oversight of the work of independent registered public accountants.

The Audit Committee reviewed and discussed the audited financial statements for the year ended December 31, 2025 with the Company’s management. The Audit Committee has discussed with the independent auditors the matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board, or PCAOB, and the SEC. The Audit Committee also received the written disclosures and the letter from KPMG LLP, the Company’s independent registered public accounting firm, required by applicable requirements of the by Auditing Standard No. 1301, Communications with Audit Committees, as adopted by the PCAOB regarding the independent accountants’ communications with the audit committee concerning independence and has discussed with KPMG LLP the accounting firm’s independence.

Based on the foregoing, the Audit Committee recommended to the Company’s Board that the audited financial statements be included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

Members of the PDS Biotechnology Corporation Audit Committee.

Mr. Gregory Freitag (Chair)

Mr. Stephen Glover

Ms. Kamil Ali-Jackson, J.D.

The foregoing report of the Audit Committee does not constitute soliciting material and shall not be deemed filed, incorporated by reference into or a part of any other filing by the Company (including any future filings) under the Securities Act or the Exchange Act of 1934, as amended, or the Exchange Act, except to the extent the Company specifically incorporates such report by reference therein.

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PROPOSAL 4

ADVISORY VOTE ON THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS

Consistent with good governance practices and the requirements of Section 14A of the Exchange Act, we are asking our stockholders to approve, on a non-binding advisory basis, the compensation of our named executive officers, as disclosed in the “Executive Compensation” section of this proxy statement and the related compensation tables and disclosure. This is commonly referred to as a “say on pay” proposal. We will put forward our next say on pay proposal at the 2027 Annual Meeting of Stockholders.

The say on pay proposal is not intended to address any specific item of compensation or the compensation of any particular officer, but rather the overall compensation of our named executive officers and our compensation philosophy, policies, and practices discussed in this proxy statement. We believe that our executive officer compensation programs provide incentives that are aligned with the interests of our stockholders and have facilitated our performance, business goals and promote short and long term profitable growth. We urge stockholders to read the “Executive Compensation” section above, which describes in more detail how our executive compensation policies and procedures operate and are designed to achieve our compensation philosophy and objectives, as well as the related compensation tables and narrative above which provide detailed information on the compensation of our named executive officers. Our compensation committee and Board believe that the policies and procedures articulated in the “Executive Compensation” section are effective in achieving our goals and that the compensation of our named executive officers reported in this proxy statement has supported and contributed to the Company’s success.

We are asking stockholders to approve the following advisory resolution at the Annual Meeting:

RESOLVED, that the stockholders of PDS Biotechnology Corporation (the “Company”) approve, on an advisory basis, the compensation of the Company’s named executive officers as disclosed pursuant to the compensation disclosure rules of the Securities and Exchange Commission in the compensation tables and related narrative disclosure in this Proxy Statement.

This say on pay proposal, is not binding on our Board. Although non-binding, our Board and compensation committee will carefully review and consider the voting results when evaluating our executive compensation program.

THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS

A VOTE “FOR” THE APPROVAL, ON A NON-BINDING, ADVISORY BASIS, OF THE

COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS.

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HOUSEHOLDING OF PROXY MATERIALS

The SEC has adopted rules that permit companies and intermediaries (e.g., brokers) to satisfy the delivery requirements for mailing of Proxy Materials or other Annual Meeting materials with respect to two or more stockholders sharing the same address by delivering a single mailing of Proxy Materials or other Annual Meeting materials addressed to those stockholders. This process, which is commonly referred to as “householding,” potentially means extra convenience for stockholders and cost savings for companies.

This year, a number of brokers with account holders who are PDS Biotech stockholders will be “householding” our proxy materials. A single mailing of Proxy Materials or other Annual Meeting materials will be delivered to multiple stockholders sharing an address unless contrary instructions have been received from the affected stockholders. Once you have received notice from your broker that they will be “householding” communications to your address, “householding” will continue until you are notified otherwise or until you revoke your consent. If, at any time, you no longer wish to participate in “householding” and would prefer to receive a separate mailing of Proxy Materials, please notify us or your broker. Direct your written request to Investor Relations, PDS Biotechnology Corporation at 303A College Road East, Princeton, NJ 08540 or by phone at (800) 208-3343. Stockholders who currently receive multiple copies of Proxy Materials at their addresses and would like to request “householding” of their communications should contact their brokers.

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OTHER MATTERS

The Board of Directors knows of no other matters that will be presented for consideration at the Annual Meeting. If any other matters are properly brought before the Annual Meeting, it is the intention of the persons named in the accompanying proxy to vote on such matters in accordance with their best judgment.

By Order of the Board of Directors

Frank Bedu-Addo, Ph.D.

Chief Executive Officer

June 26, 2026

This Proxy Statement and our Annual Report to the SEC on Form 10-K for the fiscal year ended December 31, 2025 are available free of charge at www.proxyvote.com.

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APPENDIX A

CERTIFICATE OF AMENDMENT

TO THE

EIGHTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION

OF

PDS BIOTECHNOLOGY CORPORATION

PDS Biotechnology Corporation, a corporation organized and existing under and by virtue of the General Corporation Law of the State of Delaware (the “Corporation”),

DOES HEREBY CERTIFY THAT:

FIRST: The name of the Corporation is PDS Biotechnology Corporation.

SECOND: The Board of Directors of the Corporation, acting in accordance with the provisions of Sections 141 and 242 of the General Corporation Law of the State of Delaware, adopted resolutions amending its Eighth Amended and Restated Certificate of Incorporation, as amended, as follows:

Subsection (a) of ARTICLE IV – CAPITALIZATION shall be deleted in its entirety and the following shall be inserted in lieu thereof:

“(a) Authorized Shares. The total number of shares of stock which the Corporation shall have authority to issue is 305,000,000 consisting of 300,000,000 shares of Common Stock, par value $0.00033 per share (“Common Stock”), and Five Million (5,000,000) shares of Preferred Stock, par value $0.00033 per share (“Preferred Stock”). Such stock may be issued from time to time by the Corporation for such consideration as may be fixed by the board of directors of the Corporation (the “Board of Directors”). Except as otherwise provided by law, the shares of stock of the Corporation, regardless of class, may be issued by the Corporation from time to time in such amounts, for such consideration and for such corporate purposes as the Board of Directors may from time to time determine.”

THIRD: That this Certificate of Amendment was submitted to the stockholders of the Corporation for their approval and was duly adopted at an Annual Meeting of Stockholders held on August 10, 2026, in accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.

FOURTH: All other provisions of the Eighth Amended and Restated Certificate of Incorporation shall remain in full force and effect.

FIFTH: That this Certificate of Amendment to the Eighth Amended and Restated Certificate of Incorporation shall be effective upon filing.

IN WITNESS WHEREOF, the undersigned has executed this Certificate of Amendment as of the    day of August, 2026.

			PDS BIOTECHNOLOGY CORPORATION
			By:
			Name:			Frank Bedu-Addo, Ph.D.
			Title:			President and Chief Executive Officer

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