Company: ZVRA
Filing Date: 2025-04-24
Form Type: PRRN14A
Source: 0000897069-25-000871
Chunk: 11

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-04-24
Form: PRRN14A
Chunk 11
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 plurality voting standard for the election of directors in uncontested elections, and the Company’s executive compensation practices. We need to continue the change that the Proponent started in 2023 with the election of his prior nominees, which the Company has acknowledged has benefited shareholders, by electing Mr. Mickel and Mr. Reagan. Poor Governance Practices and Executive Compensation Practices Need to Change I believe declassification would provide stockholders the ability to evaluate each director annually, which is viewed by many institutional stockholders as increasing the accountability of directors to such stockholders. With regard to using a majority vote standard for the election of directors in uncontested elections, I believe this would give stockholders a greater voice because it eliminates the ability of a small minority of stockholders, or even as few as one stockholder, to elect directors. The other issue of concern to me is the Company’s executive compensation, which I believe is excessive. In fact, stockholders seem to support this belief as they voted against the Company’s request to expand the available stock option pool after the Board had exhausted the existing pool. Unfortunately, to continue to provide themselves additional equity, management and the Board were able to circumvent the stockholder vote against the proposal by, among other things, greatly increasing the number of shares outstanding through a highly dilutive stock offering. I believe these poor governance practices have resulted in the stock languishing despite the approval and successful initial launch of MIPLYFFA™ and subsequent sale of the PRV. My goal as a long-term stockholder of Zevra is for an independent Board to act in the best interests of all stockholders and follow best practices in corporate governance and executive compensation. While my Nominees favor good corporate governance practices, they have not agreed to vote or act on the above corporate governance practices in any particular manner, as they take their fiduciary duties seriously and will only take action after being fully informed and determining what is in the best interests of the Company and its stockholders. Board Needs Further Refreshing Three of the seven currentdirectors were nominated by the Proponent, and they have been instrumental in restoring credibility and strategic focus to the Company. In stark contrast, Mrs. Tamara Favorito represents the last vestige of the legacy members of the Board—one that was overwhelmingly replaced due to its failures. Her continued presence is a glaring reminder of the decisions that nearly derailed the Company, prompting the refresh of the Board that has occurred to date. As Chair of both the Board and the Audit Committee, Mrs. Favorito