Palatin Technologies Reports Annual Meeting Vote Results

What Happened

• Palatin Technologies, Inc. held its annual meeting of stockholders on July 28, 2026 (8-K filed Aug 3, 2026). As of the June 22, 2026 record date, 1,842,625 total votes were entitled to be cast; 1,000,506 votes (54.3%) were present in person or by proxy.
• Stockholders voted on four items: (1) election of four directors, (2) ratification of KPMG LLP as independent auditor for the fiscal year ending June 30, 2026, (3) approval of an amendment to the 2011 Stock Incentive Plan to add 260,000 shares (and other changes), and (4) an advisory (non-binding) approval of named executive officer compensation for fiscal 2025.

Key Details

• Total votes entitled to be cast: 1,842,625 (1,779,275 common; preferred shares with weighted votes accounted for remainder).
• Voter turnout: 1,000,506 votes cast (54.3%).
• Director election results:
  • Carl Spana, Ph.D.: For 349,772; Withheld 331,047; Broker non-votes 319,687.
  • John K. A. Prendergast, Ph.D.: For 337,172; Withheld 343,647; Broker non-votes 319,687.
  • Alan W. Dunton, M.D.: For 649,781; Withheld 31,038; Broker non-votes 319,687.
  • Arlene M. Morris: For 654,056; Withheld 26,763; Broker non-votes 319,687.
• Auditor ratification: KPMG LLP ratified (For 982,584; Against 15,833; Abstain 2,089).
• Stock plan amendment approved to increase available shares for equity awards by 260,000 (For 650,452; Against 28,736; Abstain 1,630).
• Advisory executive compensation vote approved (For 649,559; Against 28,732; Abstain 2,527).

Why It Matters

• The approved 260,000-share increase to the 2011 Stock Incentive Plan gives the company more capacity to grant equity awards, which can be used for employee and executive compensation but may dilute existing shareholders over time.
• Ratification of KPMG as auditor is a routine governance matter that confirms continuity in financial oversight for the coming fiscal year.
• Director elections show mixed shareholder support: two nominees (Dunton and Morris) received strong affirmative votes, while two (Spana and Prendergast) had substantially higher withheld votes, indicating some shareholder division on board composition.
• The advisory "say-on-pay" vote was approved, signaling shareholder backing of the company’s 2025 executive compensation approach (note that advisory votes are non-binding).