Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 22, 2021, Sunesis Pharmaceuticals, Inc. (the "Company"), held a
special meeting of stockholders (the "Special Meeting"). Among other proposals
(as described below), the stockholders approved the Sunesis Pharmaceuticals,
Inc. 2021 Equity Incentive Plan (the "2021 Plan"). The description of the 2021
Plan is set forth in the Company's proxy statement/prospectus/information
statement for the Special Meeting, originally filed with the Securities and
Exchange Commission on December 22, 2020, as amended, in the section entitled
"Proposal No. 3: Approval of Sunesis 2021 Equity Incentive Plan" beginning on
page 197 of the proxy statement/prospectus/information statement, which is
incorporated herein by reference. A copy of the full text of the 2021 Plan is
filed as Annex E to the proxy statement/prospectus/information statement and is
incorporated herein by reference. Following the consummation of the Merger, the
Company expects that the Board or the Compensation Committee will make grants of
awards under the 2021 Plan to eligible participants.
Item 5.07 Submission of Matters to a Vote of Security Holders.
On February 22, 2021, the Company held the Special Meeting to consider five
proposals related to the Company's previously announced merger with Viracta
Therapeutics, Inc., a Delaware corporation ("Viracta"), pursuant to the
Agreement and Plan of Merger and Reorganization (the "Merger Agreement"), dated
November 29, 2020, by and between the Company, Viracta and Sol Merger Sub, Inc.,
a Delaware corporation and wholly owned subsidiary of the Company ("Merger
Sub"). Each of the Company's proposals was approved by the requisite vote of the
Company's stockholders as described below. The closing of the merger and the
related transactions contemplated by the Merger Agreement are currently expected
to be completed on or around February 24, 2021.
At the close of business on January 5, 2021, the record date for the Special
Meeting, the Company had 18,108,307 shares of the Company's common stock
("Common Stock") issued and outstanding. The holders of a total of 11,689,109
shares of Common Stock were represented at the Special Meeting by proxy or by
attending the virtual meeting, representing approximately 64.55% of the
Company's issued and outstanding Common Stock as of the record date, which total
constituted a quorum for the Special Meeting in accordance with the Company's
bylaws.
The final voting results for each of the proposals voted upon at the Special
Meeting is set forth below. Brokers had discretionary authority to vote for
Proposal Nos. 1 and 5 for the shares of the Common Stock held in street name,
and as a result, no broker non-votes were received for Proposal Nos. 1 and 5.
For more information on the proposals voted upon at the meeting, please refer to
the Company's proxy statement/prospectus/information statement for the Special
Meeting, originally filed with the Securities and Exchange Commission on
December 22, 2020, as amended.
Proposal 1. To approve an amendment to the amended and restated certificate of
incorporation of the Company to effect a reverse stock split of the Common Stock
at a ratio within the range between 3-for-1 and 6-for-1:
11,206,141 For 450,595 Against 32,373 Abstain 0 Broker Non-Votes
Proposal 2. To approve (i) the issuance of shares of the Company's capital stock
pursuant to the Merger, which will represent more than 20% of the shares of the
Common Stock outstanding immediately prior to the Merger, and (ii) the change of
control resulting from the Merger, pursuant to Nasdaq Listing Rules 5635(a) and
5635(b), respectively:
6,298,822 For 261,799 Against 48,868 Abstain 5,079,620 Broker Non-Votes
Proposal 3. To approve the 2021 Plan:
5,901,605 For 642,553 Against 65,331 Abstain 5,079,620 Broker Non-Votes
Proposal 4. To approve, on non-binding advisory basis, the compensation that
will or may become payable by Sunesis to its named executive officers in
connection with the Merger:
6,243,646 For 291,715 Against 74,128 Abstain 5,079,620 Broker Non-Votes
--------------------------------------------------------------------------------
Proposal 5. To approve a postponement or adjournment of the Special Meeting, if
necessary, to solicit additional proxies if there are not sufficient votes in
favor of Proposal Nos. 1, 2, 3 and 4:
10,967,128 For 582,114 Against 139,867 Abstain 0 Broker Non-Votes
[[Image Removed]]
[[Image Removed]]
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses