UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): May 29, 2020
ONCOSEC MEDICAL INCORPORATED
(Exact Name of Registrant as Specified in Charter)
Nevada (State or Other Jurisdiction of Incorporation) |
000-54318 (Commission File Number) |
98-0573252 (IRS Employer Identification No.) |
3565 General Atomics Court, Suite 100
San Diego, California 92121
24 North Main Street
Pennington, NJ 08534-2218
(Address of Principal Executive Offices)
(855) 662-6732
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] | Written communications pursuant to Rule 425 under the Securities Act. | |
[ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act. | |
[ ] | Pre-commencement communications pursuant to Rule 14d-2b under the Exchange Act. | |
[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act. |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Securities registered pursuant to Section 12(b) of the Exchange Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Common Stock, par value $0.0001 per share | ONCS | NASDAQ Capital Market |
Item 5.03. Amendment to Articles of Incorporation or Bylaws; Change in Fiscal Year
As described under Item 5.07 of this Current Report on Form 8-K, on May 29, 2020, at the 2019 Annual Meeting of Stockholders (the “Annual Meeting”) of OncoSec Medical Incorporated (the “Company”), the Company’s stockholders, upon the recommendation of the Company’s Board of Directors (the “Board”), approved an amendment to the Articles of Incorporation to: (i) increase the number of authorized shares of the Company’s common stock by 74,000,000 shares, and (ii) to include a waiver of the duty of certain directors to present corporate opportunities to the Company (the “Amendment”).
On May 29, 2020, following the Annual Meeting, the Company filed a certificate of amendment (the “Certificate”) giving effect to the Amendment with the Secretary of State of the State of Nevada. The Certificate became effective upon filing with the Secretary of State of the State of Nevada. A copy of the Certificate is filed as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 5.07. Submission of Matters to a Vote of Security Holders.
The Annual Meeting was held on May 29, 2020. The following matters were voted on by the stockholders: (i) the election of nine directors to the Company’s Board of Directors; (ii) the ratification of the appointment of Mayer Hoffman McCann P.C. as Company’s independent registered public accounting firm for the year ending July 31, 2020; (iii) the approval of an amendment to Company’s Articles of Incorporation to increase the Company’s authorized share capital by 74,000,000 shares of common stock; (iv) the approval of certain amendments to the Company’s 2011 Stock Incentive Plan; (v) the approval of the payment of a portion of 2019 annual bonuses to certain officers of the Company in shares of the Company’s common stock; (vi) the approval, on an advisory basis, of the compensation of Company’s named executive officers; (vii) the approval, on an advisory basis, of the frequency of the advisory vote on compensation of our named executive officers; and (viii) the approval of an amendment to the Company’s Articles of Incorporation to include a waiver of the duty of certain directors to present corporate opportunities to the Company. The results of the vote are summarized below.
Item 1: Election of directors:
Nominee | Total Votes For |
Total Votes
Withheld |
Broker Non-Votes | |||||||||
Dr. Margaret Dalesandro | 14,777,838 | 219,712 | 4,629,520 | |||||||||
Daniel J. O’Connor | 14,626,562 | 370,988 | 4,629,520 | |||||||||
Dr. James DeMesa | 14,765,427 | 232,123 | 4,629,520 | |||||||||
Joon Kim | 14,693,780 | 303,770 | 4,629,520 | |||||||||
Dr. Herbert Kim Lyerly | 14,886,418 | 111,132 | 4,629,520 | |||||||||
Kevin R. Smith | 14,691,477 | 306,073 | 4,629,520 | |||||||||
Robert E. Ward | 14,765,142 | 232,408 | 4,629,520 | |||||||||
Dr. Yuhang Zhao | 14,667,764 | 329,786 | 4,629,520 | |||||||||
Chao Zhou | 14,665,813 | 331,737 | 4,629,520 |
Item 2: Ratification of the appointment of Mayer Hoffman McCann P.C. as the Company’s independent registered public accounting firm for the year ending July 31, 2020:
Total Votes For | Total Votes Against | Abstention | Broker Non-Votes | |||
18,859,250 | 355,858 | 411,962 | N/A |
Item 3: Vote to approve an amendment to the Company’s Articles of Incorporation to increase the Company’s authorized share capital by 74,000,000 shares of common stock:
Total Votes For | Total Votes Against | Abstention | Broker Non-Votes | |||
17,511,253 |
1,762,107 |
353,710 |
N/A |
Item 4: Vote to approve certain amendments to the Company’s 2011 Stock Incentive Plan:
Total Votes For | Total Votes Against | Abstention | Broker Non-Votes | |||
14,163,975 |
739,973 |
93,602 |
4,629,520 |
Item 5: Vote to approve the payment of a portion of 2019 annual bonuses to certain officers of the Company in shares of the Company’s common stock:
Total Votes For | Total Votes Against | Abstention | Broker Non-Votes | |||
14,630,971 |
345,505 |
21,074 |
4,629,520 |
Item 6: Vote to approve on an advisory basis, the compensation of the Company’s named executive officers:
Total Votes For | Total Votes Against | Abstention | Broker Non-Votes | |||
14,550,138 |
358,758 |
88,654 | 4,629,520 |
Item 7: Vote to approve on an advisory basis, the frequency of the advisory vote on the compensation of the Company’s named executive officers:
Three Years | Two Years | One Year | Abstention | Broker Non-Votes | ||||
14,050,160 |
73,818 |
768,374 |
105,198 | 4,629,520 |
Item 8: Vote to approve an amendment to the Company’s Articles of Incorporation to include a waiver of the duty of certain directors to present corporate opportunities to the Company:
Total Votes For | Total Votes Against | Abstention | Broker Non-Votes | |||
14,563,670 |
413,788 | 20,092 | 4,629,520 |
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
The following exhibit is filed herewith:
Exhibit
Number |
Description | |
3.1 | Certificate of Amendment of Amended and Restated Articles of Incorporation of OncoSec Medical Incorporated. |
SIGNATURES
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.
ONCOSEC MEDICAL INCORPORATED | |||
(Registrant) | |||
Date: May 29, 2020 | By: | /s/ Daniel J. O’Connor | |
Name: | Daniel J. O’Connor | ||
Title: | Chief Executive Officer and President |
Exhibit 3.1
ATTACHMENT TO CERTIFICATE OF AMENDMENT FOR ONCOSEC MEDICAL INCORPORATED
Article 3. Authorized Shares.
Article 3 of the Articles of Incorporation of the Corporation is hereby amended to read in its entirety as follows: “The number of shares the corporation is authorized to issue is 100,000,000 authorized shares of common stock, par value $0.0001 per share.”
Article 6. That the Articles of Incorporation of the Corporation be amended to add a new Article to read as follows: To the maximum extent permitted from time to time by applicable law, (i) the Corporation renounces any interest or expectancy of the Corporation in, or in being offered an opportunity to participate in, business opportunities that are from time to time presented to Grand Decade Developments Limited, a British Virgin Islands limited company and a wholly owned subsidiary of China Grand Pharmaceutical and Healthcare Holdings Limited (“Buyer”), the Buyer Directors, any other Person or Persons who are, at the time, associated with or nominated by, or serving as Representatives of Buyer, or the respective Affiliates of the foregoing parties (including their officers or directors who are employees, officers, directors, managers, stockholders or members) (the “Covered Persons”), (ii) none of such Covered Persons shall have any obligation to refrain from (a) engaging in similar activities or lines of business as the Corporation or (if the Covered Person does so without any violation of the Confidentiality Agreement) developing or marketing any products or services that compete, directly or indirectly, with those of the Corporation, (b) investing or owning any interest publicly or privately in, serving as a director or officer of or (if the Covered Person does so without any violation of the Confidentiality Agreement) developing a business relationship with, any Person engaged in similar activities or lines of business as, or otherwise in competition with, the Corporation, (c) doing business (if the Covered Person does so without any violation of the Confidentiality Agreement) with any client or customer of the Corporation or (d) employing or otherwise engaging a former officer or employee of the Corporation, and (iii) neither the Corporation nor any of its Subsidiaries shall have any right to be offered any opportunity to participate or invest in any venture engaged or to be engaged in by any Covered Person. Capitalized terms used in and not defined in this Article shall have the meanings ascribed to them in the Stockholders Agreement dated October 10, 2019 between the Corporation and Buyer, a copy of which is available for inspection at the Corporation’s principal office; to the extent that the meanings of certain of such capitalized terms ascribed therein are stated therein to be determined by the meanings ascribed to such capitalized terms in the Stock Purchase Agreement, such capitalized terms shall have the meanings ascribed to them in the Stock Purchase Agreement dated October 10, 2019 between the Corporation and Buyer a copy of which is available for inspection at the Corporation’s principal office.