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AeroVironment Inc. (NASDAQ:AVAV) announced Wednesday that its shareholders approved several proposals at the company’s annual meeting held on September 25, 2025, according to a statement based on a recent SEC filing.
Shareholders approved an amendment and restatement of the company’s 2021 Equity Incentive Plan. The revised plan increases the number of shares of common stock reserved for issuance by 1,200,000 shares and includes other technical and administrative updates. Under the updated plan, no more than 5,000,000 shares may be issued upon the exercise of incentive stock options, and no such options may be granted after the tenth anniversary of the board’s approval date.
The company’s board of directors had previously approved the restated plan, subject to shareholder approval, on August 6, 2025. The plan became effective immediately following shareholder approval.
At the annual meeting, shareholders also elected four individuals to serve as Class I directors for one-year terms expiring at the 2026 annual meeting. The elected directors are Edward Muller, Charles Thomas Burbage, David Wodlinger, and Henry Albers. Each director received a majority of votes cast in favor.
In addition, shareholders ratified the selection of Deloitte & Touche LLP as AeroVironment’s independent registered public accounting firm for the fiscal year ending April 30, 2026.
An advisory vote on executive compensation was also approved by shareholders.
All voting results and proposal details were disclosed in the company’s SEC filing.
In other recent news, AeroVironment Inc. has secured a significant 10-year contract valued at $499 million from the U.S. Air Force Research Laboratory. This contract is part of the High-Performance Electromagnetic Spectrum Survivable Materials Advancement program, aimed at developing protective solutions against harmful electromagnetic radiation. The agreement includes two initial task orders worth $246 million. Additionally, AeroVironment has enhanced its Puma LE drone by integrating a laser target designator and a universal gimbal kit, which expands its capabilities beyond reconnaissance. This enhancement allows the drone to serve as a precision targeting platform for guided munitions. On the analyst front, Cantor Fitzgerald has reiterated its Overweight rating on AeroVironment, maintaining a price target of $335.00, citing confidence in the company’s growth potential. Meanwhile, Raymond James has also reiterated its Strong Buy rating with a price target of $348.00, expressing optimism about AeroVironment’s recent advancements and strategic direction.
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