Current Report · Items 1.01, 7.01, 9.01 · 8-K
Vaxart, Inc
Entry into a Material Definitive Agreement · Regulation FD Disclosure
Item 1.01 Entry into a Material Definitive Agreement. On July 1, 2026, Vaxart, Inc. (the “Company”) entered into a Cooperation Agreement (the “Cooperation Agreement”) with Daniel P. Houle, Mark Silverberg, DDS, MD, Matthew M. Wallace, MD, Patrice Raffy, Q3 Nominees Pty Ltd. and Marc Eustace Pereira (collectively, the “Stockholder Group”).…
Filed Jul 2, 2026Accepted Jul 2, 2026, 6:20 AM EDTCIK 72444Accession 0001213900-26-074576
Company context
Vaxart is a clinical-stage biotechnology company developing a range of oral recombinant vaccines based on its proprietary delivery platform. Vaxart vaccines are designed to be administered using pills that can be stored and shipped without refrigeration and eliminate the risk of needle-stick injury. Vaxart believes that its proprietary pill vaccine delivery platform is suitable to deliver recombinant vaccines, positioning the Company to develop oral versions of currently marketed vaccines and to design recombinant vaccines for new indications. Vaxart’s development programs currently include pill vaccines designed to protect against coronavirus, norovirus, and influenza, as well as a therapeutic vaccine for human papillomavirus (HPV), Vaxart’s first immune-oncology indication. Vaxart has filed broad domestic and international patent applications covering its proprietary technology and creations for oral vaccination using adenovirus and TLR3 agonists.
Current securities
Historical securities (2)
Disclosure sections
Items 1.01, 7.01, 9.01Select an item to read the extracted section. The as-filed document remains the primary evidence.
Item 1.01Item 1.01 - Entry into Material Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On July 1, 2026, Vaxart, Inc. (the “Company”) entered into
a Cooperation Agreement (the “Cooperation Agreement”) with Daniel P. Houle, Mark Silverberg, DDS, MD, Matthew M. Wallace,
MD, Patrice Raffy, Q3 Nominees Pty Ltd. and Marc Eustace Pereira (collectively, the “Stockholder Group”).
Pursuant to the Cooperation Agreement, the Stockholder Group withdrew
its notice nominating three director candidates for election at the Company’s 2026 Annual Meeting of Stockholders (the “2026
Annual Meeting”) and withdrew its demand to inspect certain books and records of the Company. The Stockholder Group also agreed
to cooperate with the Company during the 60- to 90-day period following the 2026 Annual Meeting to identify and mutually agree upon an
independent director candidate (the “New Director”) who will be appointed to the Company’s Board of Directors (the “Board”).
The New Director will be appointed to the Nominating and Corporate Governance Committee (the “NCG Committee”) and will be
considered for appointment to other committees as any other independent director with similar expertise and qualifications. If the New
Director is unable or unwilling to serve as a director, resigns as a director, is removed as a director, or ceases to be a director for
any other reason prior to the termination date of the Cooperation Agreement, the Company and the Stockholder Group will cooperate in good
faith to identify and mutually agree upon another person to be appointed as a replacement for the New Director.
Further, the Cooperation Agreement provides that, following the conclusion
of the 2026 Annual Meeting, the Board will (i) adopt a resignation policy applicable to incumbent director candidates in uncontested elections
who receive less than a majority of the votes cast in favor of their election, (ii) adopt stock ownership guidelines for directors, (iii)
form a Clinical and Regulatory Affairs Committee, for the purpose of overseeing the advancement of the Company’s clinical and regulatory
objectives, to be chaired by director James B. Breitmeyer, (iv) form a Stockholder Engagement Committee, for the purpose of overseeing
the advancement of the Company’s relations with stockholders, to be chaired by the New Director, and (v) determine and confirm the
composition of the NCG Committee and the Compensation Committee and select new committee chairs for each such committee.
The Company’s management has agreed to meet with the Stockholder
Group for the duration of the Cooperation Agreement at least one time per fiscal quarter following the Company’s reporting of earnings
for such quarter to discuss financial and strategic matters based on public information and for the Company to hear and consider the perspectives
of the Stockholder Group. The Stockholder Group may request the additional presence of up to two directors, in addition to the Chief Executive
Officer at any such meeting.
The Cooperation Agreement also contains customary voting commitment,
standstill and non-disparagement provisions. The Company also agreed to reimburse the Stockholder Group for reasonable and documented
out-of-pocket fees and expenses incurred by the Stockholder Group in connection with its engagement and solicitation efforts for the 2026
Annual Meeting, subject to a cap of $650,000.
The Cooperation Agreement will terminate on the date (the “Termination
Date”) that is the earlier of (x) 30 days prior to the nomination deadline under the Bylaws for the nomination of director candidates
for election to the Board at the Company’s 2027 Annual Meeting of Stockholders (the “2027 Annual Meeting”) and (y) 75
days prior to the first anniversary of the 2026 Annual Meeting; provided, however, that the Termination Date will be automatically delayed
until the date that is the earlier of (x) 30 days prior to the nomination deadline under the Bylaws for the nomination of director candidates
for election to the Board at the 2028 Annual Meeting of Stockholders of the Company and (y) 75 days prior to the first anniversary of
the 2027 Annual Meeting if the Company notifies the Stockholder Group and the New Director in writing at least 30 days prior to the initial
Termination Date that the Board has irrevocably offered to renominate the New Director for election at the 2027 Annual Meeting.
The foregoing description of the Cooperation Agreement does not purport
to be complete and is qualified in its entirety by reference to the full text of the Cooperation Agreement, a copy of which is attached
hereto as Exhibit 10.1 and incorporated herein by reference.
Item 7.01Item 7.01 - Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
On July 1, 2026, the Company issued a press release announcing the
matters addressed above. A copy of the press release is furnished with this report as Exhibit 99.1.
The information in this Current Report on Form 8-K under Item 7.01
and Exhibit 99.1 attached hereto is being furnished to the Securities and Exchange Commission and shall not be deemed to be “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to
the liabilities of that section, nor shall it be deemed incorporated by reference into any of the Company’s filings with the Securities
and Exchange Commission under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific
reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
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10.1 Cooperation Agreement, dated July 1, 2026
99.1* Vaxart, Inc. Press Release dated July 1, 2026
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
Furnished herewith.
Filed exhibits (1)
EX-99.1 (by filename) ea029670901ex99-1.htmEX-99.1
3
ea029670901ex99-1.htm
VAXART, INC. PRESS RELEASE DATED JULY 1, 2026
Exhibit 99.1
Vaxart Enters Cooperation Agreement with Stockholder
Group and Announces Board and Corporate Governance Enhancements
Company to Appoint Mutually Agreed Upon Independent
Director; Forms Stockholder Engagement and Clinical and Regulatory Affairs Committees
Stockholder Group Withdraws Director Nominations
SOUTH SAN FRANCISCO, Calif., July 1, 2026 -- Vaxart, Inc. (OTCQX:
VXRT) (“Vaxart” or the “Company”), a clinical-stage biotechnology company developing a range of oral recombinant
vaccines based on its proprietary delivery platform, today announced a resolution to the proxy contest in connection with the Company’s
2026 Annual Meeting of Stockholders, reflecting a commitment to value creation, strong corporate governance and constructive engagement
with stockholders.
Vaxart will initiate a search for an additional independent director
to be conducted within 90 days of the conclusion of the 2026 Annual Meeting. Pursuant to a cooperation agreement between the Company and
stockholders Daniel P. Houle, Mark Silverberg, DDS, MD, Matthew M. Wallace, MD, Patrice Raffy, Marc Eustace Pereira and …
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