EXICURE, INC. current report, 03 June 2020

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Exicure, Inc. (XCUR) - Form 8-K Summary

Business Context and Reporting Period

This Current Report on Form 8-K, dated June 3, 2020, details the results of Exicure, Inc.'s 2020 Annual Meeting of Stockholders. The meeting was held on June 3, 2020, with a quorum present. The company is an emerging growth company incorporated in Delaware.

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

Stockholders voted on two proposals at the Annual Meeting:

  • Proposal 1: Election of Directors
    • Bosun Hau: Elected with 44,435,506 votes For, 999,914 Withheld, and 16,439,218 Broker Non-Votes.
    • Chad A. Mirkin, Ph.D.: Elected with 24,856,756 votes For, 20,578,664 Withheld, and 16,439,218 Broker Non-Votes.
    • Jay R. Venkatesan, M.D.: Elected with 24,955,393 votes For, 20,480,027 Withheld, and 16,439,218 Broker Non-Votes.
    • All three nominees were elected to serve until the 2023 Annual Meeting.
  • Proposal 2: Ratification of Independent Auditor
    • Stockholders approved the selection of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2020.
    • Votes: 61,698,022 For, 56,225 Against, 120,391 Abstain.
    • There were no broker non-votes for this proposal.

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

  • Verify the significant number of broker non-votes (16,439,218) recorded for the election of directors, indicating shares held in street name where brokers lacked discretionary authority.
  • Note the substantial "Withheld" votes for nominees Chad A. Mirkin and Jay R. Venkatesan, exceeding 20 million votes each, despite their election.
  • Confirm the ratification of KPMG LLP as the auditor for the fiscal year ending December 31, 2020.
  • Review the company's status as an emerging growth company and its election not to use the extended transition period for new accounting standards.