Regeneron Pharmaceuticals (REGN) AGM 2024 summary

Opening remarks and agenda

• The meeting was called to order virtually, with all board members and senior executives present, and a quorum confirmed for voting.

• The agenda and rules of conduct were posted online, and proxy materials were distributed via internet notice.

• Four items were set for shareholder voting: director elections, auditor ratification, executive compensation advisory vote, and a shareholder proposal on simple majority voting.

Board and executive committee updates

• All current nominees for board positions were introduced, including both Class III and Class II directors.

• The board highlighted its majority of independent directors and recent refreshment, with two retirements and three new additions in the past 18 months.

• Director commitment and refreshment policies were discussed, with a cap of four board memberships per director.

Shareholder proposals

• A non-binding shareholder proposal requested replacing supermajority voting requirements with simple majority voting.

• The board recommended voting against the proposal, but the majority of votes cast supported it, leading to its approval.