---
schema_version: "secwatch.filing_event.v1"
accession: "0000805928-23-000102"
form_type: "8-K"
ticker: "AXGN"
cik: "0000805928"
company_name: "Axogen, Inc."
filed_at: "2023-08-18T23:59:59+00:00"
generated_at: "2026-06-11T07:14:47.030093+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.15
confidence: "high"
source: SEC EDGAR
---

# Axogen shareholders reject incentive plan share increase at 2023 annual meeting

## Summary
- Proposal to increase LTIP shares from 8M to 10.5M failed with 11.3M for vs 18.6M against (excluding broker non-votes).
- ESPP share increase (600K to 1.2M) approved with 27.4M for, 2.6M against.
- Bylaws amendment to set board size range of 7-11 members approved with 34.1M for, 0.9M against.
- All nine director nominees elected; highest withheld was Guido Neels with 7.2M withheld.
- Say-on-pay passed with 28.6M for, 1.4M against; auditor ratification approved with 34.9M for.

## SEC filing metadata
- accession: 0000805928-23-000102
- form_type: 8-K
- ticker: AXGN
- cik: 0000805928
- company_name: Axogen, Inc.
- filed_at: 2023-08-18T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.15
- confidence: high
- sec_items: 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/805928/000080592823000102/0000805928-23-000102-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/805928/000080592823000102/axgn-20230815.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000805928-23-000102
- JSON: https://secwatch.observer/filing/0000805928-23-000102.json
- Plain text: https://secwatch.observer/filing/0000805928-23-000102.txt

## Key facts
- Shareholder Votes
  Axogen, Inc. shareholders approved Election of nine directors to serve for a one-year term until the 2024 annual meeting of shareholders at the 2023-08-15 meeting.
  - Proposal: director election
  - Outcome: passed
  - Meeting: 2023-08-15
  source text: Nine directors were elected to the Company’s Board of Directors (the "Board") to serve for a one-year term until the 2023 annual meeting of shareholders. The results of the election were as follows: Name For Withheld Broker Non-Votes Karen Zaderej 29,010,146 1,124,288 4,943,673 Amy Wendell 29,004,864 1,129,570 4,943,673 William Burke 28,413,152 1,721,282 4,943,673 Gregory Freitag 29,040,709 1,093,725 4,943,673 John H. Johnson 23,637,550 6,496,884 4,943,673 Alan Levine 29,215,878 918,556 4,943,673 Guido Neels 22,945,316 7,189,118 4,943,673 Paul Thomas 28,834,881 1,299,553 4,943,673 Joseph Tyndall, MD MPH, FACEP 29,410,761 723,673 4,943,673
  evidence_url: https://www.sec.gov/Archives/edgar/data/805928/000080592823000102/0000805928-23-000102-index.htm
- Shareholder Votes
  Axogen, Inc. shareholders approved Advisory (non-binding) vote on executive compensation of named executive officers at the 2023-08-15 meeting.
  - Proposal: say on pay
  - Outcome: passed
  - Meeting: 2023-08-15
  source text: For Against Abstentions Broker Non-Votes 28,598,027 1,372,361 164,046 4,943,673
  evidence_url: https://www.sec.gov/Archives/edgar/data/805928/000080592823000102/0000805928-23-000102-index.htm
- Shareholder Votes
  Axogen, Inc. shareholders approved Ratification of Appointment of Deloitte & Touche LLP as independent auditor for fiscal year ending December 31, 2023 at the 2023-08-15 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2023-08-15
  source text: For Against Abstentions Broker Non-Votes 34,923,002 146,443 8,662 —
  evidence_url: https://www.sec.gov/Archives/edgar/data/805928/000080592823000102/0000805928-23-000102-index.htm
- Shareholder Votes
  Axogen, Inc. shareholders approved Amendment and restatement of Axogen, Inc. 2017 Employee Stock Purchase Plan to increase shares from 600,000 to 1,200,000 at the 2023-08-15 meeting.
  - Proposal: equity plan
  - Outcome: passed
  - Meeting: 2023-08-15
  source text: For Against Abstentions Broker Non-Votes 27,438,032 2,597,564 98,838 4,943,673
  evidence_url: https://www.sec.gov/Archives/edgar/data/805928/000080592823000102/0000805928-23-000102-index.htm
- Shareholder Votes
  Axogen, Inc. shareholders approved Amendment to Bylaws to set Board size range of 7 to 11 members and allow Board to set specific number within that range at the 2023-08-15 meeting.
  - Proposal: charter amendment
  - Outcome: passed
  - Meeting: 2023-08-15
  source text: For Against Abstentions Broker Non-Votes 34,131,162 865,249 81,696 —
  evidence_url: https://www.sec.gov/Archives/edgar/data/805928/000080592823000102/0000805928-23-000102-index.htm
- Shareholder Votes
  Axogen, Inc. shareholders rejected Amendment and restatement of Axogen, Inc. 2019 Long-Term Incentive Plan to increase shares from 8,000,000 to 10,500,000 at the 2023-08-15 meeting.
  - Proposal: equity plan
  - Outcome: failed
  - Meeting: 2023-08-15
  source text: For Against Abstentions Broker Non-Votes 11,294,448 18,612,185 227,801 4,943,673
  evidence_url: https://www.sec.gov/Archives/edgar/data/805928/000080592823000102/0000805928-23-000102-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.