The annual proxy for this biotechnology company had the following proposals:
- Proforma proposals on directors, appointment of auditors, and “say-on-pay” advisory vote
Magni voted for and against proforma proposals.
- For and against directors – One of the directors, Robert Pangia, is a legacy of an acquisition. The expertise he provided following the acquisition should be complete. Someone else should get this board seat. Magni supported the other nominees.
- For auditors – There appear to be no controversies with the financial statements of the company.
- Against “say-on-pay” – The proxy materials did not disclose a benchmarking of the company to the peer groups.
