Microsoft Corp MSFT:NASDAQ

Last Price$256.94Cboe Real-Time Last Sale as of 12:52PM ET 7/01/22
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Today's Change+0.11(0.04%)
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MiMedx Says Glass Lewis Recommends in Favor of Director Nominees, Say-on-Pay Proposal

10:14AM ET 5/20/2022 MT Newswires
MiMedx Group (MDXG) said Friday that proxy advisory firm Glass Lewis has recommended that shareholders vote for the re-election of its two director nominees, James Bierman and Phyllis Gardner, at its 2022 annual meeting.

The advisor also recommended that shareholders approve MiMedx's say-on-pay proposal at the meeting scheduled for June 7, according to the company.

The director nominees and executive compensation package have been contested by activist investor Prescience Point Capital Management, which has said it plans to withhold its votes against Bierman and Gardner, and reject the package.

Prescience, which owns a roughly 6.7% stake in MiMedx, has criticized the company's management and board for its underperformance and its compensation policy. On Wednesday, it called on MiMedx's management to confirm the company has recently received letters of "serious" concern from other shareholders "representing millions" of company shares.

MiMedx said Friday that Glass Lewis has acknowledged that the company's executive compensation, including that of its chief executive, aligns with the median compensation for a group of its peers.

The company urged its shareholders to vote on its proposals at the upcoming meeting.

MiMedx shares were up 2.5% in recent trading.

Price: 3.70, Change: +0.09, Percent Change: +2.49