Business Context and Reporting Period
This Form 8-K reports the results of the 2018 Annual Meeting of Stockholders for Madrigal Pharmaceuticals, Inc., held on June 19, 2018. The record date for the meeting was April 27, 2018, with 14,250,726 shares of common stock outstanding and entitled to vote.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance voting results.
Material Changes and Voting Results
Three proposals were submitted to stockholders, all of which were approved:
- Proposal 1 (Election of Directors): Stockholders elected Fred B. Craves, Ph.D., and Rebecca Taub, M.D., to the Board of Directors for a three-year term.
- Fred B. Craves: 11,999,398 votes for; 44,457 votes withheld.
- Rebecca Taub: 11,869,007 votes for; 174,848 votes withheld.
- Proposal 2 (Ratification of Auditors): Stockholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2018.
- Results: 13,613,082 votes for; 17,233 votes against; 26,993 votes abstaining.
- Proposal 3 (Executive Compensation): Stockholders approved, on an advisory basis, the compensation of named executive officers.
- Results: 11,968,391 votes for; 63,946 votes against; 11,518 votes abstaining.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Attendance at the Annual Meeting represented 13,657,308 shares, or approximately 95.8% of outstanding shares.
- Broker non-votes totaled 1,613,453 shares for the director election and executive compensation proposals.
- The newly elected directors serve until the 2021 annual meeting.
- PricewaterhouseCoopers LLP was ratified as the auditor for the 2018 fiscal year.