XpresSpa Announces Results of Annual Meeting of Stockholders
Included among the ballot proposals, stockholders approved the following:
- The re-election of
Bruce Bernstein, Andy Heyer, Salvatore Giardina, Douglas Satzman, and Donald Stoutto our Board of Directors, demonstrating their continued support of the existing board. The board has also previously volunteered to restructure compensation, shifting to more common stock incentives and less cash to show the board’s support for the future of the business.
- All aspects of the transactions that were announced on
July 8, 2019that required stockholders’ approval. These series of transactions provide management with greater flexibility to operate the business with a more straightforward equity structure.
- The conversion of Series D Preferred Stock to common stock, which ensures a better alignment of objectives and results in the Company having 13,881,448 shares of common stock outstanding; and
- The expansion of the existing employee stock plan to allow management to provide greater incentives for employees across the whole organization.
This press release may contain "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These include statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," or the negative of such terms, or other comparable terminology. Forward-looking statements relating to expectations about future results or events are based upon information available to
Source: XpresSpa Group, Inc.