Stockholders Elect ALL Three XenoPort Director Nominees at Annual Meeting
None of Clinton’s Three Nominees Were Elected
SANTA CLARA, Calif. -- June 11, 2014
XenoPort, Inc.(Nasdaq: XNPT) today announced that, based on the estimated
vote count provided by its proxy solicitor, stockholders have elected by a
wide margin all of the XenoPort director nominees at the Company’s 2014 Annual
Meeting of Stockholders: Ronald W. Barrett, Ph.D., Jeryl L. Hilleman and
Wendell Wierenga, Ph.D. At the meeting, XenoPort estimates that at least 46.6
million votes were cast for each of Dr. Barrett, Ms. Hilleman and Dr.
Wierenga. This compares to approximately 6.6 million votes for two of the
director nominees proposed by Clinton Relational Opportunity Master Fund,
L.P.and its affiliates (Clinton): Kevin Cameron and Charles Rowland, Jr., and
approximately 3.2 million votes cast for Clinton’s third nominee, Rael
Commenting on the estimated results, XenoPort issued the following statement:
“On behalf of XenoPort’s Board and management team, we wish to thank our
stockholders for their participation and support throughout this process. We
remain focused on continuing to execute our strategic plans, including
advancing the development of XP23829 and building value in HORIZANT^®
(gabapentin enacarbil) Extended-Release Tablets.”
The estimated vote count also indicates that stockholders voted "FOR" the
approval of theXenoPort, Inc.2014 Equity Incentive Plan, "FOR" the approval,
on an advisory basis, of the compensation of XenoPort's named executive
officers and "FOR" the ratification of the selection by the audit committee of
the Board of Directors of Ernst & Young LLPas XenoPort's independent
registered public accounting firm for the fiscal year endingDecember 31,
2014. Stockholders also supported the Board’s recommendations and voted "FOR"
Proposals 9 through 14, and voted "AGAINST" Proposals 5 through 7, all as
submitted by Clinton. Based on the estimated count, stockholders voted “FOR,”
on an advisory basis, Proposal 8 regarding supermajority voting.
IVS Associates, Inc., the independent Inspector of Elections, has indicated
that it expects to issue a preliminary tabulation of the vote results within
four business days. Final results will be published once they are certified by
XenoPort, Inc. is a biopharmaceutical company focused on developing and
commercializing a portfolio of internally discovered product candidates for
the potential treatment of neurological disorders. XenoPort is currently
commercializing HORIZANT in the United States and developing its novel fumaric
acid ester product candidate, XP23829, as a potential treatment for psoriasis
and/or relapsing forms of multiple sclerosis. REGNITE^® (gabapentin enacarbil)
Extended-Release Tablets is being marketed in Japan by Astellas Pharma Inc.
XenoPort's pipeline of product candidates also includes a potential treatment
for patients with Parkinson's disease. To learn more about XenoPort, please
visit the website at www.XenoPort.com.
HORIZANT, REGNITE and XENOPORT are registered trademarks of XenoPort, Inc.
Jackie Cossmon, 408-616-7220
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