SenesTech, Inc. (NASDAQ:SNES) 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. Except for these corrections, this Current Report on Form 8-K/A does not modify or update the disclosures in the Original Report.
On July 8, 2020, the stockholders of SenesTech, Inc. (the “Company”) approved an amendment to the SenesTech, Inc. 2018 Equity Incentive Plan (the “2018 Plan”) at its 2020 annual meeting of stockholders (the “Annual Meeting”). The amendment to the 2018 Plan was previously adopted by the Board of Directors (the “Board”), upon recommendation by the Compensation Committee (the “Committee”), subject to stockholder approval at the Annual Meeting.
The effect of the amendment to the 2018 Plan is to increase the number of shares of common stock available for issuance under the 2018 Plan by 800,000 shares.
The Committee will administer the 2018 Plan. Under the terms of the 2018 Plan, the Committee has the authority to, among other things, construe and interpret the 2018 Plan and all awards granted or agreements executed under it, determine who will be granted awards, when and how each award will be granted, what type of award will be granted, the provisions of each award, the number of shares subject to an award and the fair market value applicable to each award. Under the 2018 Plan, the Committee may grant incentive stock options, nonstatutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards and other stock awards to employees, officers, directors and consultants.
This summary does not purport to be complete and is qualified in its entirety by reference to the full text of the 2018 Plan, attached as Appendix B to the Company’s definitive Proxy Statement on Schedule 14A filed with the SEC on May 26, 2020, and incorporated herein by reference.
(a) The Company held the Annual Meeting on Wednesday, July 8, 2020.
(b) The final results of voting for each matter submitted to a vote of stockholders at the Annual Meeting are as follows:
Proposal 1: Election of Directors
Marc Dumont and Julia Williams were elected as Class I directors, each to serve for a three-year term until the annual meeting of stockholders to be held in 2023. The final voting results are set forth below:
| 1,554,603 | 144,739 | 30,882 |
About SenesTech, Inc. (NASDAQ:SNES)
SenesTech, Inc. is a platform biotechnology company. The Company is engaged in developing a technology for managing animal pest populations through fertility control. Its approach is designed to manage food security and manage infrastructure damage, disease outbreaks, environmental contamination and other costs associated with rodent infestations. Its fertility control product candidate, ContraPest, will be marketed for use in controlling rat populations. ContraPest targets the reproductive capabilities of rodents by inducing the gradual loss of eggs in female rodents and disruption of sperm in male rodents, resulting in contraception that can progress to sterility in both females and males. The Company applies its technology to manage rats in urban and agricultural settings. It has a pipeline of fertility control and animal health products, which include ContraPest, Plant-based fertility control, Feral animal fertility control, Boar taint, and Non-Surgical Spay and Neutering.