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LJPC > SEC Filings for LJPC > Form 8-K on 10-Jun-2013All Recent SEC Filings

Show all filings for LA JOLLA PHARMACEUTICAL CO

Form 8-K for LA JOLLA PHARMACEUTICAL CO


10-Jun-2013

Submission of Matters to a Vote of Security Holders


Item 5.07 Submission of Matters to a Vote of Security Holders.

On June 5, 2013, La Jolla Pharmaceutical Company (the "Company") held its 2013 Annual Meeting of Stockholders (the "Annual Meeting"). At the Annual Meeting, the Company's stockholders voted on the following proposals: (i) election of two directors to serve until the Company's 2014 Annual Meeting of Stockholders;
(ii) ratification of the selection of Squar, Milner, Peterson, Miranda & Williamson, LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2013; (iii) an advisory (non-binding) vote on the Company's executive compensation; (iv) an advisory (non-binding) vote with respect to the frequency of future "say-on-pay" votes regarding executive compensation; and (v) approval of an amendment to the Company's Articles of Incorporation to implement a reverse stock split, within a range from 1-for-2 to 1-for-100, with the exact ratio of the reverse stock split to be determined by the Board of Directors of the Company.

The number of shares of common stock entitled to vote at the Annual Meeting was 30,486,228. The number of shares of common stock present or represented by valid proxy at the Annual Meeting was 27,372,549. All matters submitted to a vote of the stockholders at the Annual Meeting were approved and all director nominees were elected.

The number of votes cast for and against and the number of abstentions and broker non-votes with respect to each matter voted upon are set forth below:

(i) Election of Directors

           Director Nominee                Votes For        Votes Withheld
           Saaid Zarrabian                  15,590,576              728,222
           George Tidmarsh, M.D., Ph.D.     15,653,736              665,062

There were 11,053,751 broker non-votes regarding the election of directors.

(ii) Ratification of selection of Squar, Milner, Peterson, Miranda & Williamson, LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2013

Stockholders ratified the selection of Squar, Milner, Peterson, Miranda & Williamson, LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2013.

The results of the voting on this proposal were: 27,253,618 votes for, 26,072 votes against and 92,859 votes abstained. There were no broker non-votes regarding this proposal.

(iii) Non-Binding Advisory Vote with respect to Executive Compensation

Stockholders approved, on a non-binding advisory basis, the compensation paid to the Company's named executive officers, as described in the Company's definitive proxy statement for the Annual Meeting.

The results of the voting on this proposal were: 14,629,170 votes for, 1,670,171 votes against and 19,457 votes abstained. There were 11,053,751 broker non-votes regarding this proposal.



(iv) Non-Binding Advisory Vote with respect to Frequency of "Say-on-Pay" Vote

A majority of stockholders present and entitled to vote on this proposal selected three years as the desired frequency of future stockholder say-on-pay votes. The votes on this proposal were as follows:

                          Frequency Period   Votes Cast
                          One year             5,916,561
                          Two years               99,010
                          Three years          6,829,439

There were 3,473,787 abstentions and no broker non-votes regarding this proposal.

In light of the results of such stockholder vote, on June 5, 2013, the Board of Directors of the Company adopted a resolution to hold a "say-on-pay" vote every three years. The next "say-on-pay" vote will be held at the Company's 2016 Annual Meeting of Stockholders.

(v) Approval of an amendment to the Company's Articles of Incorporation to implement a reverse stock split, within a range from 1-for-2 to 1-for-100, with the exact ratio of the reverse stock split to be determined by the Board of Directors of the Company

Stockholders approved an amendment to the Company's Articles of Incorporation to implement a reverse stock split, within a range from 1-for-2 to 1-for-100, with the exact ratio of the reverse stock split to be determined by the Board of Directors of the Company.

The results of the voting on this proposal were: 21,248,521 votes for, 5,878,926 votes against and 245,102 votes abstained. There were no broker non-votes regarding this proposal.


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