Summary by Moomoo AI
On March 25, 2024, Mangoceuticals, Inc. held a Special Meeting where stockholders approved significant proposals, including a reverse stock split and an amendment to the company's Equity Incentive Plan. The reverse stock split, which was approved by approximately 91% of votes, allows the Board of Directors to consolidate shares at a ratio between one-for-two and one-for-fifty, at their discretion, anytime before March 25, 2025. Additionally, the First Amendment to the Mangoceuticals, Inc. 2022 Equity Incentive Plan was approved, which includes an 'evergreen' provision allowing for an automatic increase in the number of shares available for awards annually for nine years, starting April 1, 2024. The plan provides various equity awards to employees, officers, directors, and consultants, with a cap of 26,000,000 shares for issuance or grants under the plan in total, and the same amount for Incentive Stock Options. The meeting saw a quorum with 74.1% of the voting shares present, and all proposals described in the Proxy Statement filed on March 1, 2024, were approved.