Press release
Leading Independent Proxy Advisory Firm Glass Lewis Recommends SINOVAC Shareholders Vote to Keep the Current Board in Place
Glass Lewis concludes, “[T]he current board has demonstrated credible progress in restoring governance stability and operational normalcy. [...] The
About this update from Sinovac Biotech, Ltd.
[{"type":"text","content":"\nGlass Lewis concludes, “[T]he current board has demonstrated credible progress in restoring governance stability and operational normalcy. [...] The Dissident Group’s proposals, by contrast, rest on an inconsistent platform, rely on individuals linked to the governance failures of the past, and raise material questions about their ability to credibly resolve the challenges ahead.”\n\n\nSINOVAC’s Current Board of Directors encourages shareholders to follow Glass Lewis’ Recommendation and VOTE the WHITE proxy card “AGAINST” the misguided proposals to remove the SINOVAC Board and appoint the Reconstituted Imposter Former Board Slate\n\n\nSpecial Meeting of SINOVAC shareholders to be held on July 8, 2025\n\n\nTo learn more visit: VoteSinovac.com\n\n\n BEIJING--(BUSINESS WIRE)--\nThe Board of Directors of SINOVAC Biotech Ltd. (NASDAQ: SVA) (“SINOVAC” or the “Company”), a leading provider of biopharmaceutical products in China, today announced that leading independent proxy advisory firm Glass, Lewis & Co. (“Glass Lewis”) has recommended that SINOVAC shareholders vote to keep the current SINOVAC Board in place by voting the WHITE proxy card “AGAINST” the election of the Reconstituted Imposter Former Board Slate at the upcoming Special Meeting of Shareholders (the “Special Meeting”) to be held on Wednesday, July 9, 2025 at 8:00 a.m. China Standard Time (Tuesday, July 8, 2025 at 8:00 p.m. Atlantic Standard Time).\n\n\nThe SINOVAC Board issued the following statement in response to Glass Lewis’ recommendation:\n\n\n“We are pleased that Glass Lewis rightly recognizes that keeping the current Board in place is in the best interests of all SINOVAC shareholders. We have made incredible progress over the past four months to restore fairness and deliver value to all SINOVAC shareholders, including declaring a US$55.00 per common share special cash dividend and laying the groundwork for additional distributions to rightful shareholders, while retaining ample working capital for investment and innovation.\n\n\n“We remain committed to ending years of governance failures committed by the Imposter Former Board and ensuring valid shareholders receive their fair share of distributions, while setting the Company on a path of renewed growth and corporate accountability. As part of these efforts, we are planning an annual meeting of shareholders in th...