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jq1234

06/29/17 2:58 PM

#212188 RE: biomaven0 #212187

>> A "plurality vote" means that the winning candidate only needs to get more votes than a competing candidate. If a director runs unopposed, he or she only needs one vote to be elected, so an "against" vote is meaningless. Because of this, shareholders have the option to express dissatisfaction with a candidate by indicating that they wish to "withhold" authority to vote their shares in favor of the candidate. A substantial number of "withhold" votes will not prevent a candidate from getting elected, but it can sometimes influence future decisions by the board of directors concerning director nominees.


Just checked their proxy, there was no vote against option for directors because it was "plurality vote" described above, the only other option was "withhold". 8-k should've used withhold rather than abstention for directors. There were vote against and abstention options for other items on proxy.