Aurinia Announces 2024 Annual General Meeting Results

Rhea-AI Summary

Aurinia Pharmaceuticals announced the results of its 2024 annual general meeting held on June 14, 2024. Shareholders re-elected five of nine incumbent directors. Four directors, including CEO Peter Greenleaf, received less than majority support and have submitted conditional resignations. The Board will decide on these resignations within 90 days. The re-appointment of PricewaterhouseCoopers as the independent auditor was approved. However, the advisory vote on executive compensation and the proposed amendment to the equity incentive plan did not receive majority support. The current equity incentive plan remains unchanged. Aurinia is committed to enhancing shareholder value and advancing its lupus nephritis treatment, LUPKYNIS.

Positive

• Five of nine incumbent directors were re-elected.
• Re-appointment of PricewaterhouseCoopers as independent auditor received majority support.
• Commitment to increasing shareholder value and advancing LUPKYNIS.

Negative

• Four directors, including CEO Peter Greenleaf, received less than majority support and submitted conditional resignations.
• Non-binding advisory vote on executive compensation did not receive majority support.
• Proposed amendment to the equity incentive plan was not approved.

ROCKVILLE, Md. & EDMONTON, Alberta--(BUSINESS WIRE)-- Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (Aurinia or the Company) today announced voting results for its 2024 annual general meeting (the Meeting) of shareholders held on June 14, 2024.

Shareholders re-elected five of nine incumbent directors to the Board of Directors (the Board). The four directors, while elected under applicable corporate law, who received less than majority support are Peter Greenleaf, Director, President and CEO; Daniel G. Billen, Ph.D., Director, Chair of the Board, Chair of the Compensation Committee, and Member of the Audit Committee; R. Hector MacKay-Dunn, J.D., K.C., Director, Chair of the Governance & Nomination Committee and Member of the Compensation Committee; and Brinda Balakrishnan, M.D., Ph.D., Director, Member of the Compensation Committee.

As required by the Company’s Majority Voting Policy, these directors have submitted their conditional resignations as directors of the Company for consideration by the Board. Pursuant to the Majority Voting Policy, the Board will consider these conditional resignations and communicate their decision and resulting actions within the 90-day period specified in the Majority Voting Policy.

In addition, the Company’s re-appointment of PricewaterhouseCoopers, LLP, as its independent registered public accounting firm received majority support, while the non-binding advisory vote on executive compensation did not receive majority support. In addition, the proposed amendment to the equity incentive plan was not approved at the Meeting. Accordingly, the existing equity incentive plan continues unaffected, without amendment.

“We respect the opinions of all our shareholders and welcome a continued dialogue with them. We understand that there is considerable work to be completed in the coming months. We are focused on moving forward with the goal of increasing shareholder value and delivering LUPKYNIS to people living with lupus nephritis,” said Dr. Daniel Billen, Chairman of the Board of Aurinia.

A report of voting results on all matters voted on at the Meeting will be filed on SEDAR at www.sedarplus.ca and EDGAR at www.sec.gov/edgar.

About Aurinia

Aurinia Pharmaceuticals is a fully integrated biopharmaceutical company focused on delivering therapies to people living with autoimmune diseases with high unmet medical needs. In January 2021, the Company introduced LUPKYNIS^® (voclosporin), the first FDA-approved oral therapy dedicated to the treatment of adult patients with active lupus nephritis. The Company’s head office is in Edmonton, Alberta, with its U.S. commercial office in Rockville, Maryland. The Company focuses its development efforts globally.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240614491391/en/

Media and Investor Inquiries:

Andrea Christopher

Corporate Communications and Investor Relations, Aurinia

achristopher@auriniapharma.com

ir@auriniapharma.com

Source: Aurinia Pharmaceuticals Inc.

FAQ

What were the results of Aurinia's 2024 annual general meeting?

Aurinia shareholders re-elected five of nine incumbent directors, approved the re-appointment of PricewaterhouseCoopers as auditor, but did not approve executive compensation or the equity incentive plan amendment.

Which directors received less than majority support at Aurinia's 2024 meeting?

Four directors, including CEO Peter Greenleaf, received less than majority support.

Did the proposed amendment to Aurinia's equity incentive plan get approved?

No, the proposed amendment to the equity incentive plan did not receive majority support.

What is the current status of Aurinia's equity incentive plan?

The existing equity incentive plan remains unaffected and unchanged.

Who has been re-appointed as Aurinia's independent auditor?

PricewaterhouseCoopers has been re-appointed as Aurinia's independent auditor with majority support.

What actions will be taken regarding the conditional resignations of directors at Aurinia?

The Board will consider the conditional resignations and communicate their decision within 90 days as per the Majority Voting Policy.