Item 5.07 Submission of Matters to a Vote of Security Holders.
On
As of the close of business on
Proposal 1 - Stockholders approved an amendment to the Company's certificate of incorporation, as amended, to effect a reverse stock split of all outstanding shares of Common Stock by a ratio in the range of one-for-five to one-for-one hundred, to be determined in the the sole discretion of the Board of Directors of the Company. The final voting results with respect to Proposal 1 were as follows:
For Against Abstain 43,066,485 3,201,097 12,396
Proposal 2 - Stockholders approved certain amendments to the Company's 2018 Long-Term Stock Incentive Plan (the "LTIP") to: (i) increase the annual share limit of Common Stock that may be issued in any single fiscal year only for the 2023 fiscal year under the LTIP from 8% of the shares of Common Stock outstanding to 15% of the shares of Common Stock outstanding (which amount equates to the maximum amount that may be issued in the aggregate under the LTIP),; and (ii) permit immediately quarterly calculations based on the number of shares of Common Stock outstanding as of the first trading day of each fiscal quarter, rather than solely as of the first trading day of the fiscal year. The final voting results for Proposal 2 were as follows:
For Against Abstain 33,070,432 7,035,733 5,367,590
There were 806,223 broker non-votes for Proposal 2.
Proposal 3 - Stockholders approved the transactions contemplated by or in
relation to that certain securities purchase agreement, entered into as of
For Against Abstain 35,257,952 4,775,817 5,439,986
There were 806,223 broker non-votes for Proposal 3.
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