UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
As described in Item 5.07 below, on June 26, 2023, at the 2023 Annual Meeting of Shareholders of United Therapeutics Corporation (the “Company”), the Company’s shareholders approved an amendment and restatement (the “2023 Restatement”) of the United Therapeutics Corporation Amended and Restated 2015 Stock Incentive Plan (the “Plan”). The 2023 Restatement had previously been approved by the Company’s Board of Directors (the “Board”) upon the recommendation of its Compensation Committee. The effective date of the 2023 Restatement is June 26, 2023.
The Plan is administered by the Compensation Committee of the Board, which is comprised of independent directors. The purpose of the Plan is to stimulate the efforts of non-employee directors, officers, employees, and other service providers, in each case who are selected to be participants in the Plan, by heightening the desire of such persons to continue working toward and contributing to the success and progress of the Company. The Plan allows grants of stock options, stock appreciation rights, restricted stock, restricted stock units, and stock awards, any of which may be performance-based, and for incentive bonuses.
The 2023 Restatement makes the following changes to the Plan:
| · | increases the maximum number of shares of the Company’s common stock that may be issued under the Plan by 1,000,000 shares; and |
| · | extends the expiration date of the Plan to April 20, 2033. |
Additional details regarding the Plan are included in the Company’s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 29, 2023 (the “Proxy Statement”) under the heading Proposal No. 4 — Approval of The Amendment and Restatement of The United Therapeutics Corporation Amended and Restated 2015 Stock Incentive Plan. The foregoing summary is qualified in its entirety by the full text of the Plan, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
| Item 5.07. | Submission of Matters to a Vote of Security Holders. |
On June 26, 2023, the Company held its 2023 Annual Meeting of Shareholders. The Company’s shareholders considered five matters, each of which is described in more detail in the Proxy Statement. The final voting results for the meeting are as follows:
| 1. | Election of directors, each to serve a term of one year: |
| Nominee | Votes For | Votes Against | Abstentions | Broker Non-Votes | ||||||||
| Christopher Causey | 35,053,530 | 5,031,361 | 12,874 | 1,386,890 | ||||||||
| Raymond Dwek | 36,922,017 | 3,160,178 | 15,570 | 1,386,890 | ||||||||
| Richard Giltner | 38,428,288 | 1,653,830 | 15,647 | 1,386,890 | ||||||||
| Katherine Klein | 38,338,087 | 1,747,250 | 12,428 | 1,386,890 | ||||||||
| Ray Kurzweil | 37,519,403 | 2,565,464 | 12,898 | 1,386,890 | ||||||||
| Linda Maxwell | 39,551,557 | 530,644 | 15,564 | 1,386,890 | ||||||||
| Nilda Mesa | 37,815,938 | 2,261,956 | 19,871 | 1,386,890 | ||||||||
| Judy Olian | 38,469,361 | 1,613,228 | 15,176 | 1,386,890 | ||||||||
| Christopher Patusky | 36,100,963 | 3,983,909 | 12,893 | 1,386,890 | ||||||||
| Martine Rothblatt | 38,170,992 | 1,905,182 | 21,591 | 1,386,890 | ||||||||
| Louis Sullivan | 36,872,530 | 3,208,848 | 16,387 | 1,386,890 | ||||||||
| Tommy Thompson | 33,785,847 | 6,295,860 | 16,058 | 1,386,890 |
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| 2. | An advisory resolution to approve executive compensation: |
| Votes for: | 38,688,651 | |||
| Votes against: | 1,188,503 | |||
| Abstentions: | 220,611 | |||
| Broker non-votes: | 1,386,890 |
| 3. | An advisory vote on the frequency of future advisory votes on executive compensation: |
| One year: | 39,071,056 | |||
| Two years: | 4,467 | |||
| Three years | 956,691 | |||
| Abstentions: | 65,551 | |||
| Broker non-votes: | 1,386,890 |
| 4. | Approval of the amendment and restatement of the United Therapeutics Corporation Amended and Restated 2015 Stock Incentive Plan: |
| Votes for: | 34,925,060 | |||
| Votes against: | 5,085,389 | |||
| Abstentions: | 87,316 | |||
| Broker non-votes: | 1,386,890 |
| 5. | Ratification of the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for 2023: |
| Votes for: | 40,725,112 | |||
| Votes against: | 748,871 | |||
| Abstentions: | 10,672 | |||
| Broker non-votes: | — |
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Item 9.01. Exhibits
| (d) Exhibits | ||
| Exhibit No. | Description of Exhibit | |
| 10.1 | United Therapeutics Corporation Amended and Restated 2015 Stock Incentive Plan | |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL | |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| UNITED THERAPEUTICS CORPORATION | ||
| Dated: June 28, 2023 | By: | /s/ Paul A. Mahon |
| Name: | Paul A. Mahon | |
| Title: | General Counsel | |
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