Nuvation Bio Inc. Releases Results of 2024 Annual Stockholders Meeting
Nuvation Bio Inc., a leading pharmaceutical company based in San Francisco, California, recently held its 2024 Annual Meeting of Stockholders on September 3, 2024. The meeting was a resounding success with a high turnout of over 92% of Class A Common Stock and all Class B Common Stock shareholders present either in person or by proxy.
Key proposals were voted on during the meeting, including the election of Min Cui, Ph.D., and W. Anthony Vernon as directors until the 2027 annual meeting. Additionally, KPMG LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
The compensation of the company's named executive officers was also approved on an advisory basis. Another significant outcome was the approval of the conversion of outstanding shares of Series A Non-Voting Convertible Preferred Stock to Class A Common Stock, in compliance with New York Stock Exchange listing rules.
Following the meeting, David Hung, M.D., the company's President and CEO, was appointed Chair of the Board, and Robert B. Bazemore, Jr. was appointed Lead Independent Director. Various committee appointments were made, with Kathryn E. Falberg, W. Anthony Vernon, and Robert B. Bazemore, Jr. serving as chairs of the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee, respectively.
On September 4, 2024, the outstanding shares of Series A Non-Voting Convertible Preferred Stock were automatically converted into Class A Common Stock, resulting in no remaining shares of preferred stock and an updated total of 333,780,289 shares of Class A Common Stock and 1,000,000 shares of Class B Common Stock issued and outstanding.
In conclusion, the successful outcomes of Nuvation Bio Inc.'s Annual Meeting indicate strong corporate governance and strategic decision-making, positioning the company for future growth and success in the pharmaceutical industry. This news is crucial for investors to consider when evaluating their investment opportunities in the company.