Stockholders Elect ALL Three XenoPort Director Nominees at Annual Meeting
June 11 2014 - 1:06PM
Business Wire
None of Clinton’s Three Nominees Were
Elected
XenoPort, Inc. (Nasdaq: XNPT) today announced that, based
on the estimated vote count provided by its proxy solicitor,
stockholders have elected by a wide margin all of the XenoPort
director nominees at the Company’s 2014 Annual Meeting of
Stockholders: Ronald W. Barrett, Ph.D., Jeryl L. Hilleman and
Wendell Wierenga, Ph.D. At the meeting, XenoPort estimates that at
least 46.6 million votes were cast for each of Dr. Barrett, Ms.
Hilleman and Dr. Wierenga. This compares to approximately 6.6
million votes for two of the director nominees proposed by Clinton
Relational Opportunity Master Fund, L.P. and its affiliates
(Clinton): Kevin Cameron and Charles Rowland, Jr., and
approximately 3.2 million votes cast for Clinton’s third nominee,
Rael Mazansky, M.D.
Commenting on the estimated results, XenoPort issued the
following statement:
“On behalf of XenoPort’s Board and management
team, we wish to thank our stockholders for their participation and
support throughout this process. We remain focused on continuing to
execute our strategic plans, including advancing the development of
XP23829 and building value in HORIZANT® (gabapentin enacarbil)
Extended-Release Tablets.”
The estimated vote count also indicates that stockholders voted
"FOR" the approval of the XenoPort, Inc. 2014 Equity
Incentive Plan, "FOR" the approval, on an advisory basis, of the
compensation of XenoPort's named executive officers and "FOR" the
ratification of the selection by the audit committee of the Board
of Directors of Ernst & Young LLP as XenoPort's
independent registered public accounting firm for the fiscal year
ending December 31, 2014. Stockholders also supported the
Board’s recommendations and voted "FOR" Proposals 9 through 14, and
voted "AGAINST" Proposals 5 through 7, all as submitted by Clinton.
Based on the estimated count, stockholders voted “FOR,” on an
advisory basis, Proposal 8 regarding supermajority voting.
IVS Associates, Inc., the independent Inspector of Elections,
has indicated that it expects to issue a preliminary tabulation of
the vote results within four business days. Final results will be
published once they are certified by the Inspector.
About XenoPort
XenoPort, Inc. is a biopharmaceutical company focused on
developing and commercializing a portfolio of internally discovered
product candidates for the potential treatment of neurological
disorders. XenoPort is currently commercializing HORIZANT in the
United States and developing its novel fumaric acid ester product
candidate, XP23829, as a potential treatment for psoriasis and/or
relapsing forms of multiple sclerosis. REGNITE® (gabapentin
enacarbil) Extended-Release Tablets is being marketed in Japan by
Astellas Pharma Inc. XenoPort's pipeline of product candidates also
includes a potential treatment for patients with Parkinson's
disease. To learn more about XenoPort, please visit the website at
www.XenoPort.com.
HORIZANT, REGNITE and XENOPORT are registered trademarks of
XenoPort, Inc.
XNPT2G
XenoPort, Inc.Jackie Cossmon, 408-616-7220ir@XenoPort.com
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