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Vaxart shareholders rejected the company's say-on-pay proposal at its 2026 annual meeting, even as they re-elected the full board and approved the auditor ratification. The company said it will disclose preliminary or final voting results in an SEC filing within four business days.
CEO Steven Lo said Vaxart is not planning a reverse stock split right now and has no current plan to call a special meeting on the issue. Management said it wants to focus on executing its strategy and allowing the stock price to improve organically.
Management highlighted progress on Vaxart's COVID-19 and norovirus programs, including encouraging safety data from the COVID study and ongoing talks for a potential norovirus partnership. The company said its cash runway extends through Q2 2027 and it continues seeking non-dilutive funding.
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Vaxart (OTCMKTS:VXRT) held its 2026 Annual Meeting of Stockholders, where investors re-elected the company's full slate of directors, ratified its auditor and rejected the company's non-binding advisory proposal on executive compensation.
Mark Watson, Vaxart's lead independent director and chair of the meeting, said proxies had been received for 110,631,100 of the company's 242,044,838 outstanding shares of common stock entitled to vote as of the May 26, 2026, record date. That represented about 45.71% of eligible shares and constituted a quorum.
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Stockholders approved the election of James B. Breitmeyer, M.D., Ph.D.; Kevin P. Finney; Elaine J. Heron, Ph.D.; Steven Lo; W. Mark Watson, CPA; and David Wheadon, M.D., as directors to serve until the 2027 Annual Meeting of Stockholders or until their successors are elected and qualified.
Investors also approved the ratification of WithumSmith+Brown, PC as Vaxart's independent registered public accounting firm for the fiscal year ending Dec. 31, 2026.
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However, Watson said the company's non-binding advisory vote on the compensation of named executive officers, referred to as the say-on-pay proposal, "did not pass." Vaxart said it expects to report preliminary voting results, or final results if available, in a Form 8-K filing with the Securities and Exchange Commission within four business days of the meeting.
Source: Yahoo Finance Top News — This article was automatically imported from the source. Read full article at original source →
