Fulgent Genetics (FLGT) Proxy Filing summary

Executive summary

• The annual meeting is scheduled for May 15, 2025, with proposals to elect four directors, ratify the auditor, and approve executive compensation by advisory vote.

• Core revenue grew 7% year-over-year in 2024, with a compound annual growth rate of 24% from 2022 to 2024, despite a 2% decrease in total revenue.

• The company maintains a strong balance sheet with $828.6 million in cash, cash equivalents, restricted cash, and marketable securities as of year-end 2024.

• Ongoing development of drug candidates FID-007 and FID-022, with clinical trials progressing in 2024 and planned for 2025.

Voting matters and shareholder proposals

• Proposals include electing four directors for one-year terms, ratifying Deloitte & Touche LLP as auditor for 2025, and an advisory vote on executive compensation.

• Shareholders of record as of March 20, 2025, are eligible to vote; each share equals one vote.

• Plurality voting applies for directors; majority of votes cast required for auditor ratification and say-on-pay.

• Shareholder proposals for the 2026 meeting must be submitted by November 28, 2025.

Board of directors and corporate governance

• Board nominees: Ming Hsieh (CEO/Chair), Linda Marsh, Michael Nohaile, Ph.D., and Regina Groves; all current directors.

• Three directors are independent per Nasdaq standards; all board committees are composed solely of independent directors.

• Board committees: Audit (Groves, Nohaile, Marsh), Compensation (Marsh, Groves, Nohaile), Nominating (Nohaile, Groves, Marsh).

• Board encourages diversity and inclusion, with a formal process for evaluating director nominees and performance.