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Nuvation Bio Inc., a pharmaceutical company based in San Francisco, California, announced the results of its 2024 Annual Meeting of Stockholders held on September 3, 2024. The company, which specializes in pharmaceutical preparations, reported that the meeting saw a high turnout with over 92% of Class A Common Stock and all of Class B Common Stock shareholders present in person or by proxy.
The stockholders voted on several key proposals. Min Cui, Ph.D., and W. Anthony Vernon were elected to serve 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 approved on an advisory basis. Another significant development was the approval of the conversion of the outstanding shares of Series A Non-Voting Convertible Preferred Stock to Class A Common Stock, which is in compliance with the New York Stock Exchange listing rules.
This conversion is a result of the issuance of shares in April 2024 and does not include shares issued in the acquisition of AnHeart Therapeutics Ltd., which were not entitled to vote on this proposal per NYSE rules.
Furthermore, the stockholders authorized the adjournment of the Annual Meeting, if necessary, to solicit additional proxies. This measure reflects the company's commitment to ensuring comprehensive stockholder participation and decision-making.
Following the Annual 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. Additional appointments were made to the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee, with Kathryn E. Falberg, W. Anthony Vernon, and Robert B. Bazemore, Jr. serving as chairs, 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.
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