Company: ZVRA
Filing Date: 2025-05-21
Form Type: DEFA14A
Source: 0001193125-25-123973
Chunk: 1

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-05-21
Form: DEFA14A
Chunk 1
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 “WITHHOLD” on dissident nominees Travis Mickle and Arthur Regan on the WHITEproxy card at the upcoming 2025 Annual Meeting of Stockholders, scheduled to be held on May 29, 2025 (the “Annual Meeting”). In response to the positive recommendations from all three leading proxy advisors, the Zevra Board of Directors issued the following statement: “We are pleased that all three leading proxy advisory firms –ISS, Glass Lewis, and Egan-Jones –unanimously endorsed Zevra’s current Board and strategic direction. These independent third-party recommendations validate our position that Mangless has failed to present a compelling case for change. Our Board and management team remain committed to serving our stockholders and continuing the significant value creation we’ve delivered under current leadership.” All three proxy advisors concluded that Mangless (the “dissident”) has provided insufficient arguments to justify electing its nominees to the Board, and has failedto present a case for change. 1

| • |     | ISS said, “…based on the limited information available in the public domain, the dissident has                                                     
 presented a case for change that would be insufficient for a minority position, let alone the majority position that is effectively being sought…” |

| • |     | Glass Lewis acknowledged that Mangless failed to provide any clear strategy or explanation of what he intends to                                                                                                                        
 accomplish or how he proposes to increase stockholder value, noting, “While we consider the sum of available arguments already weighs meaningfully against the Dissident agenda, we believe it is worth stressing that Mr. Mangless has 
 forwarded no meaningful alternate tack for Zevra. More pointedly, we identify no clear plan of action to improve Zevra’s operational efficacy and no concrete path to further increase shareholder value…”                              |

| • |     | Egan-Jones stated that, “…given the positive momentum Zevra Therapeutics is experiencing in its            
 strategic execution, electing the dissident nominees would be disruptive and could impede value creation.” |

All three proxy advisors emphasized the significant and outsized total shareholder returns under Zevra’s current management team.

| • |     | Notably, ISS stated, “The company has meaningfully outperformed the broader biotech market over all periods                                                                                                             
 of measurement, including McFarlane’s tenure as CEO. TSR outperformance was largely stimulated by the initial news reports of positive outcomes from Miplyffa, but the company has continued to outperform since then.” |

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