Serina Therapeutics Inc.
12/18/2024 | Press release | Distributed by Public on 12/18/2024 15:17
Proxy Results Form 8 K
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The Board of Directors of Serina Therapeutics, Inc. (the "Company") previously approved, subject to stockholder approval, an amendment (the "Amendment") to the Serina Therapeutics, Inc. 2024 Equity Incentive Plan, as amended (the "Plan"). As described below, the Company's stockholders approved the Amendment at the Company's 2024 Annual Meeting of Stockholders (the "Annual Meeting") held on December 13, 2024. Pursuant to the Amendment (i) the number of shares of common stock reserved for issuance under the Plan was increased by 950,000 shares to a total of 2,675,000 shares and (ii) the number of shares of common stock reserved for issuance under the Plan will increase automatically on the first day of each fiscal year of the Company beginning with the 2026 fiscal year and ending on (and including) the first day of the 2034 fiscal year, in each case, in an amount equal to 5% of the outstanding shares of common stock on the last day of the immediately preceding fiscal year. The Amendment and the Plan are described in the section entitled "2024 Incentive Plan Amendment Proposal" of the Company's Definitive Proxy Statement on Schedule 14A filed with the United States Securities and Exchange Commission on November 6, 2024, and which is incorporated by reference herein.
The foregoing description of the Amendment is qualified in its entirety by reference to the Plan, as amended by the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K.