Vaxart (VXRT) Proxy filing summary

Executive summary

• Entering a pivotal phase to demonstrate the potential of an oral vaccine platform, focusing on COVID-19, norovirus, and influenza programs.

• Strategic clinical development aims to maximize patient impact and commercial opportunity, with a major Phase 2b COVID-19 trial underway.

• Decisive actions taken to strengthen financial position, including operational streamlining, non-dilutive partnerships, and flexible capital access.

• Ended Q1 fiscal 2026 with $61 million in cash, providing runway into Q2 2027.

• Forward-looking statements highlight risks and uncertainties in clinical development, regulatory approval, and funding.

Voting matters and shareholder proposals

• Annual Meeting scheduled for July 16, 2026, with a critical vote on Board composition.

• A group of shareholders nominated three candidates to replace half the Board; the current Board determined these nominees lack necessary qualifications.

• Shareholders are urged to support the current Board's nominees to ensure continued value creation.

Board of directors and corporate governance

• Board comprises experienced leaders in vaccine development, regulatory strategy, finance, and public company governance.

• Recent addition of Dr. James B. Breitmeyer brings over 35 years of clinical and regulatory expertise.

• Board refreshment aligns with shareholder interests and supports oversight of high-stakes clinical milestones.

• Nominating and Governance Committee actively reviews director qualifications to ensure effective stewardship.