LIGHTBRIDGE CORPORATION (NASDAQ:LTBR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

LIGHTBRIDGE CORPORATION (NASDAQ:LTBR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

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As described in Item 5.07 below, Lightbridge Corporation (the “Company”) held its 2020 Annual Meeting of Stockholders (the “Annual Meeting”) on September 3, 2020. At the Annual Meeting, the Company’s stockholders approved the Lightbridge Corporation 2020 Omnibus Incentive Plan (the “2020 Plan”). The Company’s Board of Directors approved the 2020 Plan on March 9, 2020, subject to stockholder approval at the Annual Meeting.

A summary of the 2020 Plan is set forth in the Company’s definitive proxy statement for the Annual Meeting (the “2020 Proxy Statement”) filed with the Securities and Exchange Commission on July 27, 2020 and is incorporated herein by reference. That summary of the 2020 Plan does not purport to be complete and is qualified in its entirety by the full text of the 2020 Plan, which is filed as Appendix A to the 2020 Proxy Statement and is incorporated herein by reference.

Item 5.07 Submission of Matters to a Vote of Security Holders.

The Company held its Annual Meeting virtually on September 3, 2020. At the Annual Meeting, the Company’s stockholders voted on: (i) the election of five director nominees, (ii) the approval of the 2020 Plan, (iii) the approval, on an advisory basis, of the compensation of the Company’s named executive officers, and (iv) ratification of BDO USA, LLP as the Company’s independent registered public accounting firm for fiscal year 2020. The results of the votes are set forth below.

Proposal No. 1 – Election of Directors

The following nominees were elected as directors by the votes indicated to serve until the Company’s next annual meeting of stockholders, as set forth in the 2020 Proxy Statement:

Proposal No. 3 – Advisory Vote on Executive Compensation

The proposal to approve, on an advisory basis, the compensation of the Company’s named executive officers as described in the 2020 Proxy Statement was approved by the stockholders by the following vote:

Proposal No. 4 – Ratification of Auditors

The proposal to ratify the selection of BDO USA, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2020 was approved by the stockholders by the following vote:

About LIGHTBRIDGE CORPORATION (NASDAQ:LTBR)

Lightbridge Corporation is a nuclear fuel technology company. The Company participates in the nuclear power industry in the United States and internationally. Its segments include nuclear fuel technology business and nuclear energy consulting business. The nuclear fuel technology business develops next generation nuclear fuel technology that increases the power output of commercial reactors; generates nuclear energy and the amount of nuclear waste on a per-megawatt-hour basis, and enhances reactor safety and the proliferation resistance of spent fuel. The nuclear energy consulting business segment provides nuclear power consulting and strategic advisory services to commercial and governmental entities across the world. It provides integrated strategic advice across a range of areas, including, regulatory development, nuclear reactor site selection, procurement and deployment, reactor and fuel technology, international relations, program management and infrastructure development.

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