Yield10 Bioscience Inc.
04/30/2024 | Press release | Distributed by Public on 04/30/2024 13:22
Submission of Matters to a Vote of Security Holders - Form 8-K
Item 5.07 Submission of Matters to a Vote of Security Holders.
On April 26, 2024, Yield10 Bioscience, Inc. (the "Company") held a special meeting of its stockholders (the "Special Meeting"). As of April 1, 2024, the record date for the Special Meeting, there were 15,401,706 shares of the Company's common stock outstanding and entitled to vote. At the Special Meeting, the holders of 8,313,740 shares of the Company's common stock were present in person or represented by proxy, which represented 53.98% of the total shares entitled to vote at the Special Meeting.
A summary of the matters voted upon by the stockholders at the Special Meeting, each of which is described in the Company's definitive proxy statement filed with the Securities and Exchange Commission on April 4, 2024, and the final voting results for each matter are set forth below.
Proposal 1 - Reverse Stock Split:
Stockholders approved an amendment to the Company's Amended and Restated Certificate of Incorporation, as amended, to effect a reverse stock split of the Company's issued and outstanding shares of common stock, at a ratio of between 1-for-5 and 1-for-25. The voting results for this proposal were as follows:
| Votes For | Votes Against | Abstentions |
| 7,294,427 | 994,186 | 25,127 |
The Company's Board of Directors selected a 1-for-24 reverse stock split ratio by unanimous written consent and authorized the implementation of the reverse stock split.
Proposal 2 - Adjournment of Special Meeting:
Stockholders approved an adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies in the event that there were insufficient votes in favor of Proposal 1. The voting results for this proposal were as follows::
| Votes For | Votes Against | Abstentions |
| 7,646,095 | 637,376 | 30,269 |