GlucoTrack (NASDAQ:GCTK) stockholders approved all five proposals presented at the company’s 2026 annual meeting, including authorization for potential reverse stock splits at an aggregate ratio of up to 1-for-30 and a proposed warrant inducement transaction.
Chief Executive Officer Eric Emerson presided over the virtual meeting, which included directors Andy Balo, Victoria Carr-Brendel, Erin Carter, Dr. Paul Goode and Luis Malavé. Kathryn Simons of Nelson Mullins Riley & Scarborough LLP served as inspector of elections.
Board Slate Elected
Stockholders elected all six nominees to GlucoTrack’s board of directors. The elected directors will serve until the company’s 2027 annual meeting of stockholders and until their successors are elected and qualified.
- Andy Balo
- Victoria Carr-Brendel
- Erin Carter
- Eric Emerson
- Paul Goode
- Luis Malavé
No other director nominations were received in accordance with the company’s bylaws, Emerson said during the meeting.
Compensation and Auditor Proposals Approved
Stockholders also approved, on an advisory basis, the company’s 2025 executive compensation for its named executive officers, as described in the proxy statement.
In addition, investors ratified the appointment of CBIZ CPAs, P.C. as GlucoTrack’s independent registered public accounting firm for the fiscal year ending Dec. 31, 2026.
Reverse Split Authority and Warrant Inducement
Among the approved items was a proposal authorizing one or more amendments to GlucoTrack’s certificate of incorporation to permit reverse stock splits of its common stock at an aggregate ratio not exceeding 1-for-30.
Management retains sole discretion over whether to implement any reverse stock split, as well as the specific ratio, effective time and date, according to the meeting presentation.
Stockholders also approved a proposed warrant inducement for purposes of complying with Nasdaq Listing Rule 5635. The proposal includes the repricing of certain existing warrants, issuance of new inducement warrants to holders of those existing warrants, and issuance of common shares upon exercise of the warrants.
Simons reported that each director nominee received sufficient votes for election and that proposals two through five received the requisite votes for approval. GlucoTrack said it intends to file a Form 8-K with the Securities and Exchange Commission within four business days to report final voting results.
About GlucoTrack (NASDAQ:GCTK)
GlucoTrack, Inc, a medical device company, focused on the design, development, and commercialization of novel technologies for people with diabetes in the United States. It develops GlucoTrack, a noninvasive glucose monitoring device that helps people with diabetes and pre-diabetics to obtain blood glucose level readings without the pain. The company was formerly known as Integrity Applications, Inc and changed its name to GlucoTrack, Inc in November 2021. GlucoTrack, Inc was founded in 2001 and is based in Rutherford, New Jersey.
