SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
(Amendment No. 1)
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|Item 5.07||Submission of Matters to a Vote of Security Holders.|
This Form 8-K/A is being filed as an amendment ("Amendment No. 1") to the Current Report on Form 8-K filed by Avid Bioservices, Inc. (the “Company”) with the Securities and Exchange Commission on October 25, 2023 (the “Original Filing”). The Original Filing was filed to report the results of the matters submitted to a vote by the Company’s stockholders at its 2023 Annual Meeting of Stockholders held on October 23, 2023 (the “2023 Annual Meeting”). The sole purpose of this Amendment No. 1 is to disclose, in accordance with Item 5.07(d) of Form 8-K, the Company’s decision as to how frequently it will conduct future non-binding stockholder advisory votes on the compensation of its named executive officers. No other changes have been made to the Original Filing.
As previously reported in the Original Filing, at the 2023 Annual Meeting, the Company’s stockholders voted on, among other matters, a proposal regarding the frequency of future stockholder non-binding advisory votes on the compensation of the Company’s named executive officers, commonly referred to as “say-on-pay” votes. In addition, as previously reported in the Original Filing, a majority of the votes cast on the frequency proposal were cast in favor of holding a “say-on-pay” vote every year.
The Company’s Board of Directors has considered the outcome of this advisory vote and has determined, consistent with the stated preference of the Company’s stockholders, that the Company will hold future advisory “say-on-pay” votes every year until the next required vote regarding the frequency of stockholder advisory votes on executive compensation.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|AVID BIOSERVICES, INC.|
|Date: November 17, 2023||By:||/s/ Daniel R. Hart|
|Daniel R. Hart|
|Chief Financial Officer|