Loop Industries (NASDAQ:LOOP) held its 2026 annual meeting of stockholders virtually on July 23, with shareholders approving all proposals presented for a vote, according to preliminary results announced during the meeting.
Daniel Solomita, chairman, president and chief executive officer of Loop Industries, conducted the meeting and said it was held in accordance with the company’s bylaws and Nevada law. He noted that the company had a quorum present in person or by proxy and that Broadridge Financial Solutions, represented by Kathy Weeden, served as inspector of election.
Directors Elected
Stockholders elected Laurence Sellyn, Louise Sams, Jay Stubina, Laurent Auguste and Spencer Hart to serve as directors until the next annual meeting of stockholders or until their successors are elected and qualified.
Shareholders also elected Jeff Geygan as a director under a separate proposal described in the proxy statement supplement. Solomita stated that he had been elected to the board through the affirmative vote of the sole shareholder of Series A preferred stock, resulting in a total of seven directors.
Weeden said each director nominee received the affirmative vote of a plurality of the voting power of the shares present in person or represented by proxy and entitled to vote.
PwC Ratified as Independent Auditor
Stockholders ratified the appointment of PricewaterhouseCoopers as Loop Industries’ independent registered public accounting firm for the fiscal year ending February 28, 2027.
Solomita said the company’s audit committee, which is made up entirely of non-employee directors, recommended PwC’s appointment to the board. He said PwC would audit the company’s consolidated financial statements for the fiscal year and perform audit-related services and consultation tied to accounting and financial reporting matters.
Although stockholder ratification was not required under the company’s bylaws, Solomita said the board submitted the matter to shareholders “as a matter of good corporate practice.” Weeden said the proposal was ratified by a majority of the voting power of shares present in person or by proxy and entitled to vote.
Executive Compensation Advisory Vote Approved
Shareholders approved, on an advisory and non-binding basis, the compensation of Loop Industries’ named executive officers as described in the company’s proxy statement.
Solomita said the “say on pay” vote would not bind the company, its board or its compensation committee, but that the board and compensation committee would consider the voting results as appropriate when making future executive compensation decisions.
Equity Incentive Plan Amendment Approved
Stockholders also approved an amendment to the company’s 2017 Equity Incentive Plan. Solomita said the board believes the plan allows employees, consultants and directors to acquire an ownership interest in the company through equity awards, which can help encourage retention and align their interests with those of shareholders.
He also said the approach allows Loop Industries to preserve liquidity as it advances toward commercialization of its technology.
Weeden said the amendment was approved by a majority of the voting power of shares present in person or by proxy and entitled to vote.
No Stockholder Questions
After the formal business of the meeting was concluded, Solomita opened a question-and-answer period for validated stockholders. No questions were submitted.
Solomita thanked shareholders for attending and for their interest in the affairs of Loop Industries. The meeting was then concluded.
About Loop Industries (NASDAQ:LOOP)
Loop Industries (NASDAQ:LOOP) is a technology innovator in the sustainable plastics sector. The company has developed a proprietary depolymerization process that breaks down end-of-life polyethylene terephthalate (PET) plastic and polyester fiber into their base molecules. These purified monomers are then repolymerized into virgin-quality PET resin suitable for new packaging applications, creating a closed-loop recycling solution that addresses global plastic waste challenges.
With its headquarters in Terrebonne, Quebec, Loop Industries operates pilot and demonstration facilities to validate and refine its technology.
