Business Context and Reporting Period
This Form 8-K reports the results of the 2017 Annual Meeting of Stockholders for Second Sight Medical Products, Inc. (Note: The request metadata lists "Vivani Medical, Inc.", but the filing text explicitly identifies the registrant as Second Sight Medical Products, Inc.). The meeting was held on June 6, 2017, in Sylmar, California. A total of 43,449,144 shares were represented, constituting a quorum.
Key Financial Metrics
This filing is a Current Report regarding corporate governance and voting results. It does not provide financial data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. Investors should refer to the company's most recent 10-K or 10-Q filings for financial performance details.
Material Changes and Voting Results
The filing details the outcomes of four proposals submitted to stockholders:
- Proposal 1 (Election of Directors): All six nominees were elected to the Board of Directors. Significant broker non-votes (15,095,002) were recorded for all nominees.
- Proposal 2 (Equity Incentive Plan Amendment): Stockholders approved increasing the maximum shares issuable under the 2011 Equity Incentive Plan from 7,500,000 to 9,500,000 shares.
- Proposal 3 (ESPP Amendment): Stockholders approved increasing the maximum shares issuable under the 2015 Employee Stock Purchase Plan from 250,000 to 750,000 shares.
- Proposal 4 (Auditor Ratification): Stockholders ratified the appointment of Gumbiner Savett Inc. as the independent registered public accounting firm for the year ending December 31, 2017.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. It strictly reports the procedural results of the annual meeting.
Key Facts for Investor Verification
- Verify the registrant name: The filing is for Second Sight Medical Products, Inc., not Vivani Medical, Inc.
- Confirm the increase in equity pool availability: The 2011 Equity Incentive Plan share limit increased by 2,000,000 shares.
- Note the high volume of broker non-votes: Approximately 15.1 million shares were broker non-votes on director elections, indicating brokers did not vote on these matters for beneficial owners.
- Check the auditor: Gumbiner Savett Inc. was ratified as the auditor for the 2017 fiscal year.