Shareholders Elect New Directors, Re-Approve Equity Incentive Plan

summarizeSummary

Profound Medical shareholders approved the election of new directors and the re-approval of the company's long-term equity incentive plan, enabling continued talent attraction through equity compensation.

check_boxKey Events · Corporate Governance and Compliance · PROF

• Director Elections Approved

  Shareholders elected eight director nominees, including two new additions, Frank Baylis and Vafa Jamali, both bringing extensive experience from the medical device industry.

• Long-Term Incentive Plan Re-Approved

  Shareholders re-approved the unallocated restricted share units and deferred share units under the company's LTIP. This allows for the grant of approximately 2.2% of outstanding shares for equity compensation, with the overall plan reserving up to 4.9% of outstanding common shares from time to time.

• Auditors Re-Appointed

  PricewaterhouseCoopers LLP was re-appointed as the company's auditors until the next annual meeting.

auto_awesomeAnalysis · PROF · Industrial Applications And Services

Shareholders of Profound Medical Corp. approved the re-election of eight directors, including two new additions with significant industry experience, and re-appointed the company's auditors. Crucially, shareholders also re-approved the unallocated restricted share units and deferred share units under the long-term incentive plan (LTIP), a requirement every three years under TSX rules. This re-approval allows the company to grant approximately 2.2% of its outstanding shares (783,563 units as of December 31, 2025) for equity compensation, with the overall plan reserving up to 4.9% of outstanding common shares from time to time. This ensures the company can continue to attract and retain talent, though it introduces potential future dilution.