Processa Pharmaceuticals Reports 2026 Annual Meeting Results

What Happened

• Processa Pharmaceuticals, Inc. announced the results of its July 30, 2026 Annual Meeting of Shareholders. Shareholders approved an amendment to the Processa 2019 Omnibus Incentive Plan to increase the number of shares available under the plan by 200,000 shares. The meeting was held following the Company’s definitive proxy filed June 18, 2026.

Key Details

• Meeting date and quorum: Annual Meeting held July 30, 2026; record date June 1, 2026; shareholders holding at least one-third of voting power were present in person or by proxy.
• Incentive Plan amendment: Approved to add 200,000 shares to the 2019 Omnibus Incentive Plan. The amended and restated plan is filed as Exhibit 10.1 (incorporated by reference to the proxy).
  • Vote on OIP amendment: For 579,877; Against 152,958; Abstain 2,700; Broker non-votes 825,288.
• Director elections: All six nominees were elected to serve until the next annual meeting. Vote totals (For / Against / Abstain / Broker non-votes):
  • Justin Yorke: 710,505 / 0 / 25,030 / 825,288
  • George Ng: 702,195 / 0 / 33,340 / 825,288
  • Khoso Baluch: 696,796 / 0 / 38,739 / 825,288
  • James Neal: 709,887 / 0 / 25,648 / 825,288
  • Geraldine Pannu: 705,652 / 0 / 29,883 / 825,288
  • Dr. David Young: 698,511 / 0 / 37,024 / 825,288
• Auditor ratification and advisory pay vote:
  • Auditor: Cherry Bekaert, LLP ratified as independent registered public accounting firm for FY 2026 (For 1,541,664; Against 12,770; Abstain 6,389).
  • Advisory vote on named executive officer compensation: Approved (For 640,726; Against 89,886; Abstain 4,923; Broker non-votes 825,288).

Why It Matters

• The approved increase of 200,000 shares under the Omnibus Incentive Plan gives the company additional shares to grant as equity compensation to employees, directors or consultants, which can help with recruitment and retention but may be dilutive to existing shareholders depending on future grants.
• Re-election of the full board and ratification of the auditor maintain management and governance continuity.
• The favorable advisory vote on executive compensation signals shareholder support for the company’s pay practices as presented in the proxy.