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United States. Securities and Exchange Commission

BioMarin Pharmaceutical Inc. Announces Shareholder Approval for Plan Amendment and Elects Board Directors

Strategic Insights

— 2 min read

At its 2023 Annual Meeting of Stockholders, BioMarin Pharmaceutical Inc. received shareholder approval for an amendment to the company's 2017 Equity Incentive Plan, increasing the number of shares reserved for issuance by 14 million. The company's shareholders also elected 11 directors to serve on the board, with a majority of votes cast in favor of each candidate. In addition, shareholders ratified the selection of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2023.

Key Takeaways:

  • BioMarin Pharmaceutical Inc. filed a FORM 8-K with the U.S. Securities and Exchange Commission on May 30, 2023, announcing shareholder approval for an amendment to the company's 2017 Equity Incentive Plan.
  • The plan amendment increased the number of shares reserved for issuance by 14 million, effective immediately upon shareholder approval.
  • A total of 187,600,415 shares of common stock were entitled to vote as of March 27, 2023, with 166,754,443 shares present in person or represented by proxy at the Annual Meeting.
  • BioMarin's shareholders elected 11 directors to serve on the board, with a majority of votes cast in favor of each candidate.
  • The shareholders ratified the selection of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2023.
  • The company will include a stockholder vote on the compensation of its named executive officers in its proxy materials annually until the next required advisory vote on the frequency of stockholder advisory votes on the compensation of BioMarin's named executive officers.
  • Shareholders approved the compensation of BioMarin's named executive officers on an advisory basis.

Statistics:

  • 187,600,415 shares of common stock were entitled to vote as of March 27, 2023.
  • 166,754,443 shares of common stock were present in person or represented by proxy at the Annual Meeting.
  • 11 directors were elected to serve on the board, with a majority of votes cast in favor of each candidate.
  • 159,510,686 votes were cast in favor of ratifying the selection of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2023.
  • 129,779,900 votes were cast in favor of approving the compensation of BioMarin's named executive officers on an advisory basis.

Sources:

  • BioMarin Pharmaceutical Inc. (2023) FORM 8-K Current Report. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549.
  • BioMarin Pharmaceutical Inc. (2023) Proxy Statement for the 2023 Annual Meeting of Stockholders.

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