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OFFON

SEMLER SCIENTIFIC, INC.

(SMLR)
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SEMLER SCIENTIFIC, INC. : Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Submission of Matters to a Vote of Security Holders, Financial Statements and Exhibits (form 8-K)

10/26/2021 | 06:08am EST

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal

           Year.



On October 21, 2021, Semler Scientific, Inc. (the "Company") held its Annual Meeting of Stockholders (the "Annual Meeting"). Following the Annual Meeting, the Company's Second Amended and Restated Bylaws of the Company (the "Amended Bylaws"), as approved by the Company's board of directors (the "Board"), became effective.

The Amended Bylaws provide that, unless the Company consents in writing to the selection of an alternative forum, the federal district courts of the United States shall be the exclusive forum for resolving any complaint asserting a cause of action arising under the Securities Act, to the fullest extent permitted by law (the "Federal Forum Provision"). The Board believes that the Federal Forum Provision will reduce the risk that the Company could be involved in duplicative litigation in both state and federal courts, as well as the risk that the outcome of cases in multiple forums could be inconsistent, even though each forum purports to follow federal law. In addition, the Federal Forum Provision is structured to give the Board the flexibility to consent to an alternative forum when deemed appropriate.

The Amended Bylaws now provide that the registered office, how the number of directors will be determined, their terms of office, how vacancies or a newly-created directorship on the Board will be filled, and director removals will be as provided in the Company's Amended and Restated Certificate of Incorporation.

Changes in the Amended Bylaws that reflect changes in law and practice, include provisions reflecting the ability of Delaware corporations to set two record dates for meetings (for notice of the meeting and for the right to vote) and to hold stockholder meetings electronically, and the use of "householding" and electronic transmission for delivery of notices to stockholders. The Amended Bylaws expand the list of persons who may preside over stockholder meetings and authorize stockholders (in addition to the Chairperson) to adjourn meetings and clarify procedural requirements for adjournments. The Amended Bylaws make certain clarifying amendments regarding the advance notice procedures to be following, including clarifying who would be considered a qualified representative. The Amended Bylaws reflect other updates in the Delaware General Corporation Law ("DGCL") and expressly include Bylaws regarding remote communications and procedures for delivery of communications, including expressly opting out of DGCL §116 with respect to stockholder notices. The Amended Bylaws also reflect changes in the DGCL to reflect current practice with respect to share certificates and uncertificated shares, including revised language broadening the officers who may execute stock certificates.

The foregoing summary and description of the Amended Bylaws does not purport to be complete and is qualified in its entirety by reference to the full text of the Amended Bylaws, a copy of which is filed as Exhibit 3.1 with this Current Report on Form 8-K and is incorporated herein by reference.

Item 5.07 Submission of Matters to a Vote of Security Holders.

At the Annual Meeting, the Company's stockholders voted on three proposals, each of which is described in more detail in the Company's definitive proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on September 10, 2021. The following is a brief description of each matter voted upon and the certified results, including the number of votes cast for and against each matter and, if applicable, the number of abstentions and broker non-votes with respect to each matter.

Proposal 1. Stockholders elected the following nominees to serve as the Class III Directors on the Board until the Company's 2024 Annual Meeting of Stockholders or until his respective successor has been duly elected and qualified. The voting results for the nominees were as follows:




        Director Name            Votes For   Votes Withheld   Broker Non-Votes
Douglas Murphy-Chutorian, M.D.   3,329,645       5,355           1,127,702
      Daniel S. Messina          3,329,349       5,651           1,127,702



Proposal 2. Stockholders approved, on a non-binding advisory basis, the compensation of the Company's named executive officers. The voting results for were as follows:



Votes For   Votes Against   Abstentions   Broker Non-Votes
3,327,293       4,924          2,783         1,127,702









Proposal 3. Stockholders ratified the selection by the Audit Committee of the Board of BDO USA, LLP as the Company's independent registered public accounting firm for the year ending December 31, 2021. The voting results were as follows:



Votes For   Votes Against   Abstentions   Broker Non-Votes
4,460,239        702           1,761             0

Item 9.01. Financial Statements and Exhibits.






(d) Exhibits.



Exhibit No.   Description
  3.1           Second Amended and Restated Bylaws of Semler Scientific, Inc.
104           Cover Page Interactive Data File (embedded within the Inline XBRL document)

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 55,0 M - -
Net income 2021 19,3 M - -
Net cash 2021 40,2 M - -
P/E ratio 2021 39,8x
Yield 2021 -
Capitalization 635 M 635 M -
EV / Sales 2021 10,8x
EV / Sales 2022 8,37x
Nbr of Employees 86
Free-Float 70,8%
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Number of Analysts 3
Last Close Price 93,93 $
Average target price 167,33 $
Spread / Average Target 78,1%
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Douglas R. Murphy-Chutorian Chief Executive Officer, Secretary & Director
Andrew B. Weinstein Senior Vice President-Finance & Accounting
Robert G. McRae Chief Technical Officer
Wayne T. Pan Independent Director
Arthur N. Leibowitz Independent Director
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