Second Sight Medical Products Announces Results of its 2021 Annual Meeting
June 01 2021 - 6:00AM
Business Wire
Second Sight Medical Products, Inc. (NASDAQ: EYES) (the
“Company” or “Second Sight”), a leading developer of implantable
visual prosthetics that are intended to create an artificial form
of useful vision for blind individuals, today announced results of
its annual meeting held May 28, 2021.
Second Sight held its annual meeting online due to the COVID-19
pandemic. 60.98% of shareholders were present online or by proxy.
Shareholders voted on four proposals: (1) electing six (6) members
of the Board of Directors, to serve until the next annual meeting
of shareholders in 2022 and until their successors are duly elected
and qualified, (2) ratifying the appointment of Gumbiner Savett
Inc. as our independent registered public accounting firm for 2021,
(3) approving, on a non-binding advisory basis, the compensation of
our named executive officers, and (4) indicating, on an advisory
basis, the preferred frequency of shareholder advisory votes on the
compensation of the Company’s named executive officers. The Board
of Directors of the Company unanimously approved each of the
Proposals and recommended that the shareholders approve each of the
Proposals up for vote at the meeting. The results are:
Proposal 1: The shareholders
elected each of the six director nominees to the Board of Directors
of the Company to serve until the 2022 Annual Meeting of
Shareholders or until their successors have been duly elected and
qualified, as follows:
Nominee
For
Withheld/
Abstentions
Broker
Non-Votes
Gregg Williams
11,717,164
125,819
5,174,792
Aaron Mendelsohn
11,710,856
132,127
5,174,792
Jonathan Will McGuire
11,727,547
115,436
5,174,792
Matthew Pfeffer
11,728,271
114,712
5,174,792
Dean Baker
11,734,708
108,275
5,174,792
Alexandra Larson
11,728,992
113,991
5,174,792
Proposal 2: The shareholders, on an
advisory basis, ratified the appointment of Gumbiner Savett Inc. as
Second Sight’s independent registered public accounting firm for
the year ending December 31, 2021, as follows:
For
Against
Abstentions
Broker
Non-Votes
16,790,398
142,622
84,755
0
Proposal 3: The shareholders, on a
non-binding basis, ratified the compensation of our named executive
officers:
For
Against
Abstentions
Broker
Non-Votes
11,546,765
207,655
88,563
5,174,792
Proposal 4: The shareholders, on an
advisory basis, indicated the preferred frequency of shareholder
advisory votes on the compensation of the Company’s named executive
officers:
For
1 Yr.
11,651,980
2 Yr.
102,607
3 Yr.
46,399
Abstentions
41,997
Broker Non Vote
5,174,792
Scott Dunbar, acting Chief Executive Officer, stated “We are
continuing our Early feasibility study of our Orion Visual Cortical
Prosthesis. We have six subjects participating in the study at UCLA
and Baylor college of medicine. Some subjects have now reached the
three-year mark with no new serious adverse events. You may
remember we had one serious adverse event early in the study that
has been completely resolved. We are behind in our testing due to a
pause in the study for the COVID-19 pandemic. We are finishing up
our planned two-year testing with encouraging results. The testing
done shows that performance is good and stable over the duration of
the study. We are extremely excited about the progress we have made
on our next generation Orion product. At the same time, we are
conducting an in depth review of our long term plans to ensure that
the Orion product we bring to market is the best possible solution
for our customers. Further, we believe we can leverage our major
advancements and world leadership in human neuromodulation implant
technology beyond our focus on just curing blindness,” concluded
Dunbar.
About the Orion Visual Cortical Prosthesis System
Leveraging Second Sight’s 20 years of experience in
neuromodulation for vision, the Orion Visual Cortical Prosthesis
System (Orion) is an implanted cortical stimulation device intended
to provide useful artificial vision to individuals who are blind
due to a wide range of causes, including glaucoma, diabetic
retinopathy, optic nerve injury or disease, and eye injury. Orion
is intended to convert images captured by a miniature video camera
mounted on glasses into a series of small electrical pulses. The
device is designed to bypass diseased or injured eye anatomy and to
transmit these electrical pulses wirelessly to an array of
electrodes implanted on the surface of the brain’s visual cortex,
where it is intended to provide the perception of patterns of
light. A six-subject early feasibility study of the Orion is
currently underway at the Ronald Reagan UCLA Medical Center in Los
Angeles and the Baylor College of Medicine in Houston. No
peer-reviewed data is available yet for the Orion system.
About Second Sight Medical Products, Inc.
Second Sight Medical Products, Inc. (Nasdaq: EYES) develops
implantable visual prosthetics that are intended to deliver useful
artificial vision to blind individuals. A recognized global leader
in neuromodulation devices for blindness, the Company is committed
to developing new technologies to treat the broadest population of
sight-impaired individuals. The Company’s headquarters are in Los
Angeles, California. More information is available at
secondsight.com.
Safe Harbor
This press release contains certain “forward-looking statements”
within the meaning of the “safe harbor” provisions of the US
Private Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as: “target,” “believe,”
“expect,” “will,” “may,” “anticipate,” “estimate,” “would,”
“positioned,” “future,” and other similar expressions that predict
or indicate future events or trends or that are not statements of
historical matters. Forward-looking statements are neither
historical facts nor assurances of future performance. Instead,
they are based only on Second Sight’s current beliefs, expectations
and assumptions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Actual results and outcomes may
differ materially from those indicated in the forward-looking
statements. Therefore, you should not rely on any of these
forward-looking statements. Important factors that could cause
actual results and outcomes to differ materially from those
indicated in the forward-looking statements include, among others,
the following: (1) legal claims or proceedings relating to Second
Sight’s termination of the Memorandum of Understanding with Pixium
Vision and costs relating thereto; (2) changes in applicable laws
or regulations; (3) the possibility that Second Sight may be
adversely affected by other economic, business, and/or competitive
factors; (4) the impact of COVID-19 on Second Sight’s business; and
(5) other risks and uncertainties indicated from time to time in
Second Sight’s Form 10-K for the year ended December 31, 2020, as
amended, including those under “Risk Factors” therein, and in
Second Sight’s other filings with the SEC. Some of these risks and
uncertainties may in the future be amplified by the COVID-19
outbreak and there may be additional risks that Second Sight
considers immaterial or which are unknown. A further list and
description of risks and uncertainties can be found in Second
Sight’s Annual Report on Form 10-K, filed on March 16, 2021as
amended on April 14, 2021 and on April 27, 2021 and Form 10-Q filed
on May 13, 2021, and as thereafter amended. Any forward-looking
statement made by us in this press release is based only on
information currently available to Second Sight and speaks only as
of the date on which it is made. Second Sight undertakes no
obligation to publicly update any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210601005322/en/
Investor Relations: Scott Dunbar Investor Relations:
investors@secondsight.com (818) 833-5000
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