Oncocyte corrects 2022 shareholder vote: equity plan amendment did not pass

Insight Molecular Diagnostics Inc.

Amendment to 2018 Equity Incentive Plan to eliminate fungible share counting failed to receive majority of shares represented at meeting.
Vote tally: 42,563,690 for, 30,005,136 against, 218,250 abstained, 21,793,461 broker non-votes.
Required standard was majority of shares present; only 42.6M of ~74.6M shares represented voted in favor.
Original 8-K erroneously stated proposal passed; this amendment corrects that error.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 1.0

Insight Molecular Diagnostics Inc. shareholders rejected to approve an amendment (the "Plan Amendment") to the Company's 2018 Equity Incentive Plan (the "Incentive Plan") to eliminate "fungible share counting" at the 2022-07-15 meeting.

Proposal: equity plan
Outcome: failed
Meeting: 2022-07-15

Exact text from the filing

As disclosed in the Original Report, the voting results for Proposal No. 5 were as follows: Shares Voted For Against Abstained Broker Non-Votes 42,563,690 30,005,136 218,250 21,793,461 Accordingly, because the 42,563,690 votes cast in favor of Proposal No. 5 at the Meeting did not constitute a majority of the shares represented at the Meeting, Proposal No. 5 to approve the Plan Amendment was not approved by the Company's shareholders at the Meeting, and the statements in the Original Report to the contrary were made in error and are updated as set forth in this Amendment.

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Source: SEC EDGAR

accession 0001493152-23-005438

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