Ayala Pharmaceuticals Inc (fka ADXS)

[DewDiligence]

Re: BoD voting /Compensation Committee

https://www.sec.gov/Archives/edgar/data/1100397/000149315217003663/form8-k.htm

I don’t know how I missed this in my prior post, but the impetus for the 6M+ votes against directors Sidransky, Patton, Khleif, and McKearn (resulting in a mere 2-1 approval margin) was that these are the four members who comprise the Compensation Committee (https://www.sec.gov/Archives/edgar/data/1100397/000149315217001334/def14a.htm#a_010 [scan up to page 41]).

The other four directors, including CEO Dan O’Connor, received a normal number of rejections and were approved by roughly a 40-1 margin.

Given the 6M+ votes against the four directors named above, this was clearly a concerted effort by more than one major shareholder to send a message that the compensation of the executive officers is overly generous.