Tenax Therapeutics Receives Stockholder Approval for Amendment to Stock Incentive Plan

Tenax Therapeutics, Inc. recently conducted a special meeting of stockholders on October 25, 2024, where significant decisions were made regarding the company’s 2022 Stock Incentive Plan. At this meeting, stockholders of Tenax Therapeutics approved Amendment No. 2 to the 2022 Stock Incentive Plan, also known as the Stock Plan Amendment.

The Stock Plan Amendment entails an increase in the number of shares of the company’s common stock that are authorized for issuance under the plan. With this approval, the total number of shares authorized for issuance under the 2022 Stock Incentive Plan now stands at 8,336,600 shares, marking an increase of 7,935,912 shares. The Board of Directors had initially approved the Stock Plan Amendment on September 6, 2024, contingent upon stockholder approval.

Details regarding the principal features of the Stock Plan Amendment can be found in the definitive proxy statement for the Special Meeting, which was submitted to the Securities and Exchange Commission on September 27, 2024. More specifically, this information is located under the heading “Proposal One – Approval of Amendment No. 2 to the Tenax Therapeutics, Inc. 2022 Stock Incentive Plan.” It is important to note that the summary of the Stock Plan Amendment provided in the Proxy Statement is fully qualified by the complete text of the Stock Plan Amendment, which has been filed as Exhibit 10.1 in the Current Report on Form 8-K.

During the course of the Special Meeting, various proposals were voted upon by the stockholders, yielding certain results. The stockholders voted in favor of the Stock Plan Amendment, with 1,176,335 shares voting for, 157,003 shares voting against, 3,849 shares abstaining, and no broker non-votes recorded. Additionally, an approval was granted for the adjournment of the Special Meeting, if deemed necessary, to allow for further solicitation and voting of proxies. The vote for the Adjournment Proposal comprised 1,194,879 shares for, 139,002 shares against, 3,306 shares abstaining, and no broker non-votes.

In compliance with the Securities Exchange Act of 1934, Tenax Therapeutics duly signed off on this report on October 30, 2024, with Christopher T. Giordano, the company’s President and Chief Executive Officer, having authorized the submission.

Alongside this update, the company disclosed that the attached Exhibit 10.1 contains the Amendment No. 2 to the Tenax Therapeutics, Inc. 2022 Stock Incentive Plan, while an Interactive Data File is embedded within the Inline XBRL document as Exhibit 104.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Tenax Therapeutics’s 8K filing here.

About Tenax Therapeutics

Tenax Therapeutics, Inc develops and commercializes pharmaceutical products containing imatinib for the treatment of pulmonary arterial hypertension in the United States. The company develops TNX-101 (IV), TNX-102, and TNX-103 (levosimendan) that have completed phase II clinical trials for the treatment of patients with pulmonary hypertension associated with heart failure with preserved ejection fraction and associated pulmonary hypertension; and TNX-201 (imatinib), a tyrosine kinase inhibitor for the treatment of chronic myeloid leukemia.