ADVERUM BIOTECHNOLOGIES, INC. (NASDAQ:ADVM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
As previously disclosed, on November2, 2016, Adverum
Biotechnologies, Inc. (the Company) and Paul B. Cleveland,
executive chair of the Company, entered into an amendment to
Mr.Clevelands offer letter which set forth, among other matters,
that Mr.Cleveland would cease serving as executive chair and
principal executive officer of the Company upon completion of the
Companys 2017 Annual Meeting of Stockholders (the 2017 Annual
Meeting). On June8, 2017, the Company held the 2017 Annual
Meeting, and, accordingly, Mr.Cleveland ceased serving as
executive chair and principal executive officer of the Company.
Mr.Cleveland will continue to serve as the chairman of the
Companys board of directors, and Amber Salzman, Ph.D., the
Companys president and chief executive officer, will serve as the
Companys principal executive officer. Dr.Salzmans background is
described in detail in the Companys definitive proxy statement on
Schedule 14A filed with the Securities and Exchange Commission on
April26, 2017 (the Proxy Statement) and is incorporated by
reference herein.
| Item5.07 |
Submission of Matters to a Vote of Security Holders |
At the 2017 Annual Meeting, the stockholders of the Company voted
as set forth below on the following proposals, each of which is
described in detail in the Proxy Statement.
Of the Companys 42,866,183 shares of common stock issued and
outstanding and entitled to vote as of the record date on
April20, 2017, a quorum of 28,178,321 shares, or 65.73% of the
shares entitled to vote, was present in person or represented by
proxy at the 2017 Annual Meeting.
The final voting results for each matter submitted to a vote of
the Companys stockholders at the 2017 Annual Meeting are as
follows:
Proposal No.1. Election of Directors.
The election of two ClassIII directors, each to serve a
three-year term, which will expire at the 2020 Annual Meeting of
Stockholders, or until such time as their respective successors
have been elected or qualified.
| Votes Cast For | Number of Withholds | Number of BrokerNon- Votes | ||||||||||
|
Mitchell H. Finer, Ph.D. |
12,870,241 | 5,322,573 | 9,985,507 | |||||||||
|
Richard N. Spivey, Pharm.D., Ph.D. |
15,789,964 | 2,402,850 | 9,985,507 |
Proposal No.2. Ratification of Selection of Independent
Registered Public Accounting Firm.
The ratification of the selection of Deloitte Touche LLP as the
Companys independent registered public accounting firm for the
Companys fiscal year ending December31, 2017.
|
Votes Cast For |
Votes Cast Against |
Number of Abstentions |
Number of Broker Non- Votes |
|||
|
26,100,595 |
84,085 | 1,993,641 |
About ADVERUM BIOTECHNOLOGIES, INC. (NASDAQ:ADVM)
Adverum Biotechnologies, Inc., formerly Avalanche Biotechnologies, Inc., is a gene therapy company. The Company is engaged in discovering and developing medicines to patients suffering from chronic or debilitating disease. The Company operates and manages its business in the segment of developing and commercializing gene therapeutics. It focuses on diseases with unmet medical need, including ophthalmic diseases, such as wet age-related macular degeneration (AMD), as well as rare genetic diseases. The Company’s product candidates include AVA-101 and AVA-201 for treatment of Wet AMD; AVA-322 and AVA-323 for the treatment of Color Vision Deficiency, and AVA-311 for the treatment of Juvenile X-linked Retinoschisis. It has generated human proof-of-concept data for AVA-101 in a Phase I trial with over eight wet AMD subjects conducted at Lions Eye Institute (LEI) in Australia. It is developing AVA-322 and AVA-323 for the treatment of color vision deficiency (CVD).
