Company: VLDXW
Filing Date: 2025-06-05
Form Type: PRER14A
Source: 0000950170-25-082330
Chunk: 22

Company: Velo3D, Inc.
Filing Date: 2025-06-05
Form: PRER14A
Chunk 22
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 Article VIII, Section 1 “No Action by Written Consent of Stockholders” (the “Written Consent Amendment”). As a result, the Company’s Certificate of Incorporation would permit stockholders to act by written consent to the extent permitted by the DGCL. The text of the Written Consent Amendment is attached to the Proxy Statement asAnnex B. The text of the Certificate of Incorporation is attached as Exhibit 3.1 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 31, 2025.

Current Status

Under Article VIII, Section 1 of the Company’s Certificate of Incorporation, stockholders are currently expressly prohibited from taking action by written consent.

We seek out and highly value the perspectives of our stockholders. Additionally, Arun Jeldi, our Chief Executive Officer and Chairman, currently holds approximately 185,151,333 shares, or approximately 88.1%, of our outstanding common stock as of June 2, 2025, and as a result, controls a majority of the total voting power of our common stock. After careful consideration, and in consultation with Mr. Jeldi, our Board determined to approve the Written Consent Amendment, subject to approval of the Company’s stockholders.

Rationale for the Proposal

The Board believes that a stockholder right to act by written consent is a way to bring an important matter to the attention of both management and stockholders outside of the traditional stockholder meeting process. Stockholder written consents can also provide a cost-effective and efficient mechanism to obtain stockholder approval for certain corporate matters (including, but not limited to, mergers, sales of all or substantially all of the Company’s assets, stock splits, significant securities issuances under exchange continued listing rules, etc.) which require stockholder approval. Unless otherwise provided in a corporation’s certificate of incorporation, the DGCL generally permits any action required by to be taken at any annual or special meeting of stockholders, or any action which may be taken at any annual or special meeting of such stockholders, to be taken without a meeting by written consent signed by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted.

Additionally, for so long as we are subject to the reporting requirements of the Exchange Act, even if the Written Consent Amendment is approved and filed with the