Mannatech Announces Results of Annual Shareholders’ Meeting

Rhea-AI Summary

Mannatech, a global health and wellness company, announced the successful passage of all shareholder proposals during its annual meeting on June 14, 2022. Notable outcomes included the election of J. Stanley Fredrick and Tyler Rameson as Class II Directors, with 66.5% of shares represented. Additionally, shareholders ratified BDO USA, LLP as independent auditors for the fiscal year ending December 31, 2022, and approved the compensation for Mannatech's named executive officers. The company emphasizes its commitment to transforming lives through high-quality nutritional products.

Positive

• Shareholders passed all proposals at the annual meeting.
• J. Stanley Fredrick and Tyler Rameson elected as Class II Directors until 2025.
• BDO USA, LLP ratified as independent auditors for 2022.
• Compensation for named executive officers received shareholder approval.

Negative

• None.

FLOWER MOUND, Texas--(BUSINESS WIRE)-- Mannatech, Incorporated (Nasdaq: MTEX) ("Mannatech"), a global health and wellness company committed to transforming lives to make a better world, announced that its shareholders passed all proposals put to a vote at Mannatech’s annual shareholder meeting (the "Meeting") held Tuesday, June 14, 2022.

Mannatech’s Chairman of the Board, J. Stanley Fredrick, chaired the Meeting and David Johnson, Mannatech’s Chief Financial Officer, spoke to the shareholders sharing the company’s financial results for 2021 and the first quarter of 2022.

There were 1,949,716 outstanding shares of Mannatech’s common stock as of April 14, 2022 entitled to vote and 1,295,936 shares, or approximately 66.5% represented at the Meeting, either in person or by proxy.

The following matters were submitted and voted upon at the Meeting:

1. Mannatech shareholders voted on the election of two individual to the Board of Directors as Class II Directors to hold office until 2025 as set forth below:

Name	Number of Shares For	Number of Shares Withheld	Broker Non-Votes
J. Stanley Fredrick	926,727	9,438	359,771
Tyler Rameson	775,361	160,804	359,771

2. Mannatech shareholders voted to ratify the appointment of BDO USA, LLP as our independent registered public accounting firm for the fiscal year ended December 31, 2022 as set forth below:

Number of Shares For	Number of Shares Against	Number of Shares Abstaining
1,289,007	3,335	3,594

3. Mannatech shareholders approved, on an advisory basis, the compensation of Mannatech’s named executive officers as set forth below:

Number of Shares For	Number of Shares Against	Number of Shares Abstaining	Broker Non-Votes
929,059	2,761	4,345	359,771

To begin improving your life and the lives of those around you, please visit Mannatech.com.

About Mannatech

Mannatech, Incorporated, is committed to transforming lives through the development, marketing, and sales of high-quality, proprietary nutritional supplements, topical and skin care and anti-aging products, and weight-management products distributed through its global network of independent associates and members. The company has been operating for more than 25 years of experience with operations in 25 markets^. For more information, visit Mannatech.com.

^Mannatech operates in China under a cross-border e-commerce platform that is separate from its network marketing model.

Please Note: This release contains “forward-looking statements.” These forward-looking statements generally can be identified by use of phrases or terminology such as “may,” “will,” “should,” "hope," “could,” “would,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “approximates,” “predicts,” “projects,” “potential,” and “continues” or other similar words or the negative of such terminology. Similarly, descriptions of Mannatech’s objectives, strategies, plans, goals or targets contained herein are also considered forward-looking statements. Mannatech believes this release should be read in conjunction with all of its filings with the SEC and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties, and other factors. Some of these factors include, among others, Mannatech's ability to complete the anticipated tender offer in a timely manner or at all, the price at which shares of the Company's common stock may trade on Nasdaq, which may be higher or lower than the purchase price in the anticipated tender offer, uncertainty as to the number of shares purchased in the tender offer, the impact of the outbreak of the novel coronavirus ("COVID-19") pandemic, Mannatech’s inability to attract and retain associates and members, increases in competition, litigation, regulatory changes, and its planned growth into new international markets. Although Mannatech believes that the expectations, statements, and assumptions reflected in these forward-looking statements are reasonable, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and other filings filed with the SEC, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220616005981/en/

Donna Giordano

972-471-6512

ir@mannatech.com

Source: Mannatech, Incorporated

FAQ

What proposals were passed at Mannatech's annual meeting on June 14, 2022?

All proposals were passed, including the election of two directors and the ratification of auditors.

Who were elected as Class II Directors at Mannatech's annual meeting?

J. Stanley Fredrick and Tyler Rameson were elected as Class II Directors until 2025.

What firm was ratified as Mannatech's independent auditors for 2022?

BDO USA, LLP was ratified as the independent auditors for the fiscal year ending December 31, 2022.

What percentage of shares were represented at Mannatech's annual meeting?

Approximately 66.5% of shares were represented at the meeting.

What was approved regarding the compensation of Mannatech's executives?

Shareholders approved the compensation for Mannatech's named executive officers on an advisory basis.