WESTPORT, CT—Intensity Therapeutics, Inc. (NASDAQ:INTS), a biotech firm specializing in biological products, announced on Wednesday the approval of its 2024 Employee Stock Purchase Plan (ESPP). This decision was made during the company's annual meeting of stockholders, which took place via live webcast.
The ESPP, designed to incentivize and retain employees, received overwhelming support from shareholders. The plan was detailed in the proxy statement filed on June 4, 2024, and has now been incorporated into the company's strategy following stockholder approval.
During the same meeting, shareholders also voted on the election of directors and the ratification of the company's independent registered public accounting firm. Two Class I directors, Daniel Donovan and Thomas I. H. Dubin, were elected to serve until the 2027 annual meeting. Additionally, EisnerAmper LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
The voting results indicated strong backing from the stockholders, with over 6.6 million votes in favor of the new ESPP and a similar show of support for the elected directors and the accounting firm. The presence of a quorum, with approximately 62.15% of the outstanding shares represented, validated the proceedings.
This news comes as part of Intensity Therapeutics' ongoing efforts to align the interests of its employees with those of the company and its shareholders. The adoption of the ESPP is expected to contribute to a collaborative and motivated work environment, which is crucial for the company's continued research and development in the biotech sector.
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