In a recent 8-K filing with the U.S. Securities and Exchange Commission, Phreesia (NYSE:PHR), Inc. disclosed the outcomes of their annual meeting of stockholders held on Wednesday. During the meeting, shareholders voted on several key proposals, including the election of directors and the appointment of the company's independent registered public accounting firm.
Three Class II directors were elected to serve a three-year term expiring at the 2027 annual meeting. The elected directors are Lisa Egbuonu-Davis, M.D., with 48,663,428 votes for and 135,267 votes withheld; Lainie Goldstein, with 48,453,332 votes for and 345,363 votes withheld; and Ramin Sayar, with 48,507,858 votes for and 290,837 votes withheld. All three directors will serve until their successors are elected and qualified, or until their earlier resignation or removal. The election saw a significant number of broker non-votes, totaling 1,979,176 for each director.
Additionally, stockholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2025. The proposal received a strong affirmation, with 50,580,401 votes in favor, 182,089 against, and 15,381 abstaining.
The compensation of the company's named executive officers was also approved on a non-binding, advisory basis. The approval garnered 44,699,753 votes in favor, with 4,075,493 against and 23,449 abstentions, alongside 1,979,176 broker non-votes.
Phreesia, Inc., which operates under the business services sector, is incorporated in Delaware and is listed on the New York Stock Exchange under the ticker NYSE:PHR. The company's principal executive offices are located in Wilmington, Delaware.
This report is based on the company's definitive proxy statement filed on May 14, 2024, and the recent 8-K filing. The company's Chief Financial Officer, Balaji Gandhi, signed off on the report on behalf of Phreesia, Inc.
In other recent news, healthcare technology firm Phreesia Inc . has made significant strides in its financial performance, reporting a robust 21% increase in revenue, reaching $101.2 million, and a positive adjusted EBITDA of $4.1 million. Despite these positive financial developments, Phreesia revised its revenue guidance downward by $8 million due to the hastened conclusion of a clearinghouse partnership.
Analysts from multiple firms have been closely following the company's progress. DA Davidson reaffirmed a Buy rating on Phreesia, highlighting the company's growth potential and lower balance sheet risk. JPMorgan (NYSE:JPM) adjusted its price target on Phreesia shares to $27, maintaining an 'Overweight' rating, while RBC (TSX:RY) Capital held steady with a 'Sector Perform' rating and a price target of $23. Needham analysts reiterated their 'Buy' rating with a $29 price target.
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