Vaxart Investors Reject Say-on-Pay as CEO Rules Out Reverse Split for Now

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Vaxart (OTCMKTS:VXRT) held its 2026 Annual Meeting of Stockholders, wherever investors re-elected the company's afloat slate of directors, ratified its auditor and rejected the company's non-binding advisory connection connected enforcement compensation.

Mark Watson, Vaxart's pb autarkic manager and seat of the meeting, said proxies had been received for 110,631,100 of the company's 242,044,838 outstanding shares of communal banal entitled to ballot arsenic of the May 26, 2026, grounds date. That represented astir 45.71% of eligible shares and constituted a quorum.

Stockholders Elect Directors, Reject Say-on-Pay Proposal

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Stockholders approved the predetermination of James B. Breitmeyer, M.D., Ph.D.; Kevin P. Finney; Elaine J. Heron, Ph.D.; Steven Lo; W. Mark Watson, CPA; and David Wheadon, M.D., arsenic directors to service until the 2027 Annual Meeting of Stockholders oregon until their successors are elected and qualified.

Investors besides approved the ratification of WithumSmith+Brown, PC arsenic Vaxart's autarkic registered nationalist accounting steadfast for the fiscal twelvemonth ending Dec. 31, 2026.

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However, Watson said the company's non-binding advisory ballot connected the compensation of named enforcement officers, referred to arsenic the say-on-pay proposal, "did not pass." Vaxart said it expects to study preliminary voting results, oregon last results if available, successful a Form 8-K filing with the Securities and Exchange Commission wrong 4 concern days of the meeting.

Management Says No Reverse Split Is Currently Planned

Several stockholder questions focused connected whether Vaxart would prosecute a reverse banal split. Steven Lo, Vaxart's president and main enforcement officer, said the institution is "not moving connected a reverse banal divided astatine the contiguous moment."

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Lo said Vaxart is focused connected executing its firm strategy, including completing its COVID-19 survey and seeking imaginable norovirus partnerships. In effect to a question astir shareholder feedback, Lo said the institution did not suggest a reverse divided astatine the yearly gathering due to the fact that it had heard from stockholders.

"Your sentiment does matter," Lo said.

Asked whether absorption anticipated calling a peculiar gathering to revive a reverse divided initiative, Lo said determination is nary existent program for a peculiar meeting. He added that the institution would similar to execute its program and, successful a best-case scenario, spot the banal terms turn organically.