Xos shareholders approve 3.74M share equity increase and 20%+ stock issuance at sub-Nasdaq price

Xos, Inc.

Proposal 6 passed (3.98M for, 274K against): potential issuance of 20%+ of outstanding common stock below Nasdaq Minimum Price for convertible note conversion.
Proposal 3 passed (3.62M for, 634K against): 3,740,000 share increase in equity incentive plan reserve.
All three Class II director nominees elected: Mattson, Sordoni, Yake; Grant Thornton ratified as auditor.
Non-binding advisory vote favored say-on-pay frequency every three years (2.99M for 3 years vs 1.11M for 1 year).
Quorum: 52.57% (6.34M shares) present at virtual June 23, 2026 annual meeting.

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