8-K: Nexalin Technology Shareholders Elect Directors, Approve Equity Plan and Auditor

Nexalin Technology, Inc. announced that its shareholders approved all proposals at the Annual Meeting held on July 16, 2025, including the election of five directors, an amendment to the 2023 Equity Incentive Plan, and the ratification of its independent public accounting firm.

Summary

• The Annual Meeting of stockholders of Nexalin Technology, Inc. was convened on July 16, 2025, at 10:00 a.m. Eastern time.
• Out of 17,177,929 shares of common stock outstanding on the June 4, 2025 record date, 11,629,183 shares were present or represented by proxy.
• Shareholders elected five directors: Leslie Bernhard (6,127,377 For), Mark White (6,357,484 For), David Owens, M.D. (6,375,246 For), Alan Kazden (6,260,430 For), and Ben V. Hu, M.D. (6,259,490 For).
• An amendment to the 2023 Equity Incentive Plan, increasing the number of shares reserved for issuance, was approved with 6,074,244 votes For, 317,475 Against, and 870,139 Abstained.
• The appointment of CBIZ CPAS P.C. as the independent registered public accounting firm for the year ending December 31, 2025, was ratified with 10,673,497 votes For, 99,874 Against, and 855,812 Abstained.

Sentiment

Score: 7

Explanation: The sentiment is positive as all proposals presented at the annual meeting were approved by shareholders, indicating stable corporate governance and alignment with management's recommendations.

Positives

• All five director nominees were successfully elected by shareholders.
• The amendment to the 2023 Equity Incentive Plan was approved, allowing for increased share issuance for compensation or other purposes.
• The appointment of CBIZ CPAS P.C. as the independent auditor for 2025 was ratified with strong shareholder support.

Future Outlook

The document does not provide specific forward-looking statements or guidance beyond the outcomes of the shareholder votes.

Management Comments

• Mark White, Chief Executive Officer, signed the report on behalf of Nexalin Technology, Inc.

Industry Context

This filing details the routine outcomes of an annual shareholder meeting, which is a standard corporate governance event for publicly traded companies. The approval of an equity incentive plan amendment is common for companies seeking to maintain competitive compensation structures.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: Directly impacted by the voting outcomes, including the election of directors and approval of the equity plan, which can influence future share dilution and governance.
• Employees: Potentially impacted by the increased shares reserved under the Equity Incentive Plan, which could lead to more equity-based compensation opportunities.

Key Dates

Keywords

Annual Meeting, Shareholder Vote, Director Election, Equity Incentive Plan, Auditor Ratification, Corporate Governance, SEC Filing, NEXALIN TECHNOLOGY