Item 5.03 Articles of Incorporation or Bylaws; Change in Fiscal Year.
On May 23, 2018, Yield10 Bioscience, Inc. (the “Company”) filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation, as amended (the “Certificate of Amendment”), a copy of which is attached hereto as Exhibit 3.1 and incorporated herein by reference, with the Secretary of State of the State of Delaware. The Certificate of Amendment, effective as of May 23, 2018, effects an increase in the Company’s authorized shares of common stock from 40,000,000 shares to 60,000,000.
As described below, our stockholders approved the Certificate of Amendment at the Company’s 2018 annual meeting.
Item 5.07
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Submission of Matters to a Vote of Security Holders.
On May 23, 2018, the Company held its 2018 annual meeting of its stockholders (the “Annual Meeting”). As of March 26, 2018, the record date for the Annual Meeting, there were 9,968,455 shares of the Company’s common stock outstanding and entitled to vote. At the Annual Meeting, the holders of 9,051,901 shares of the Company’s common stock were present in person or represented by proxy, which represented 90.81% of the total shares entitled to vote at the Annual Meeting.
A summary of the matters voted upon by the stockholders at the Annual Meeting, each of which are described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on April 16, 2018, and the final voting results for each matter are set forth below.
Proposal 1 - Election of Directors:
Stockholders reelected the nominees identified below as Class III directors of the Company to hold office until the annual meeting of stockholders in 2021 and until their respective successors are elected and qualified, subject to their earlier death, resignation or removal. The voting results for each nominee were as follows:
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Name of Class III Director
Nominees
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Votes For
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Votes Withheld
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Broker Non-Votes
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Anthony J. Sinskey, Sc.D.
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5,842,876
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71,995
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3,137,030
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Richard W. Hamilton, Ph.D.
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5,838,398
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76,473
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3,137,030
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Proposal 2 - Approval of 2018 Stock Option and Incentive Plan:
Stockholders approved the adoption of the Company’s 2018 Stock Option and Incentive Plan, which was approved by the Board of Directors on April 4, 2018. The voting results for the proposal were as follows:
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Votes For
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Votes Against
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Abstentions
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Broker Non-Votes
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5,705,132
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207,314
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2,425
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3,137,030
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Proposal 3 - Authorization of Increase in the Authorized Shares of Common Stock:
Stockholders authorized the Board of Directors to amend the Amended and Restated Certificate of Incorporation, as amended, to effect an increase in the authorized shares of the Company’s common stock from 40,000,000 to 60,000,000. The voting results for the proposal were as follows:
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Votes For
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Votes Against
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Abstentions
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Broker Non-Votes
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8,216,951
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726,882
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34,300
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73,768
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Proposal 4 - Ratification of the Appointment of the Company’s Independent Registered Public Accounting Firm:
The selection of RSM US LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2018, was ratified, based on the following votes:
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Votes For
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Votes Against
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Abstentions
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8,979,287
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53,980
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18,634
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Proposal 5 - Advisory Vote on Compensation of Executive Officers:
Stockholders approved, on an advisory basis, the compensation of the named executive officers of the Company. The voting results for the proposal were as follows:
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Votes For
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Votes Against
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Abstentions
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Broker Non-Votes
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4,666,924
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1,238,252
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9,695
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3,137,030
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Proposal 6 - Advisory Vote on Frequency of Holding a Vote on Compensation of Executive Officers:
Stockholders approved the recommended frequency of holding an advisory vote on the compensation of the named executive officers of the Company every 3 years. The voting results for the proposal were as follows:
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1 Year
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2 Years
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3 Years
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Abstentions
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Broker Non-Votes
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325,562
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131,618
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4,330,802
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1,126,889
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3,137,030
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The Company will accordingly ask for an advisory vote on compensation of its named executive officers every 3 years.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit
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No.
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Description
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Certificate of Amendment of Amended and Restated Certificate of Incorporation, as amended, of Yield10 Bioscience, Inc.
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