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Item 5.07. | | Submission of Matters to a Vote of Security Holders. |
At the 2023 annual meeting of stockholders of Vanda Pharmaceuticals Inc. (the “Company”) held on June 8, 2023 (the “Annual Meeting”), the following proposals were submitted to the stockholders of the Company:
Proposal 1: The election of two directors to serve as Class II directors for a term of three years until the 2026 annual meeting of stockholders.
Proposal 2: The ratification of the selection of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023.
Proposal 3: The approval on an advisory non-binding basis of the compensation of the Company’s named executive officers.
Proposal 4: The vote on the frequency of future advisory votes on named executive officer compensation.
Proposal 5: The approval of an amendment of the Company’s Amended and Restated 2016 Equity Incentive Plan to increase the aggregate number of shares authorized for issuance under the Amended and Restated 2016 Equity Incentive Plan.
For more information about the foregoing proposals, see the Company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 24, 2023 (the “Proxy Statement”). Of the 57,443,639 shares of the Company’s common stock entitled to vote at the Annual Meeting, 52,616,801 shares, or approximately 91.6% were represented at the meeting in person or by proxy, constituting a quorum. The number of votes cast for, against or withheld, as well as abstentions and broker non-votes, if applicable, in respect of each such matter is set forth below:
Proposal 1: Election of Directors.
The Company’s stockholders elected the following directors to serve as Class II directors until the 2026 annual meeting of stockholders. The votes regarding the election of directors were as follows:
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Director | | Votes For | | Votes Against | | Votes Abstaining | | Broker Non-Votes |
Richard W. Dugan | | 43,447,760 | | 5,253,100 | | 8,893 | | 3,907,048 |
Anne Sempowski Ward | | 47,111,880 | | 1,589,271 | | 8,602 | | 3,907,048 |
Proposal 2: Ratification of Selection of PricewaterhouseCoopers LLP.
The Company’s stockholders ratified the selection of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023. The votes regarding this proposal were as follows:
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Votes For | | Votes Against | | Votes Abstaining |
52,035,525 | | 566,066 | | 15,210 |
Proposal 3: Advisory Vote on Named Executive Officer Compensation.
The Company’s stockholders approved on an advisory non-binding basis the compensation paid to the Company’s named executive officers, as disclosed in the Proxy Statement. The votes regarding this proposal were as follows:
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Votes For | | Votes Against | | Votes Abstaining | | Broker Non-Votes |
47,007,380 | | 1,536,842 | | 165,531 | | 3,907,048 |
Proposal 4: Frequency of Future Advisory Votes on Named Executive Officer Compensation.
The Company’s stockholders approved the option of holding an advisory non-binding vote to approve the compensation of the Company’s named executive officers once every “1 Year.” The votes regarding this proposal were as follows:
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1 Year | | 2 Years | | 3 Years | | Votes Abstaining | | Broker Non-Votes |
44,614,824 | | 154,140 | | 3,934,630 | | 6,159 | | 3,907,048 |
In accordance with the recommendation of the Company’s Board of Directors as set forth in the Proxy Statement, and based on the voting results for this Proposal 4, the Company’s Board of Directors determined that an advisory vote to approve the compensation of the Company’s named executive officers will be conducted on an annual basis. The Company’s Board of Directors will reevaluate this determination after the next stockholder advisory vote on this matter is held.
Proposal 5: Amendment to the Company’s Amended and Restated 2016 Equity Incentive Plan.
The Company’s stockholders approved an amendment to the Company’s Amended and Restated 2016 Equity Incentive Plan to increase the aggregate number of shares authorized for issuance under the Amended and Restated 2016 Equity Incentive Plan. The votes regarding this proposal were as follows:
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Votes For | | Votes Against | | Votes Abstaining | | Broker Non-Votes |
43,677,992 | | 5,025,559 | | 6,202 | | 3,907,048 |