SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Titan Pharmaceuticals, Inc.
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On November 30, 2020, we announced that we had filed an amendment to our certificate of incorporation to effect a 1-for-30 reverse split of our common stock (the “Reverse Split”). Our shares began trading on a split-adjusted basis on the Nasdaq Capital Market commencing December 1, 2020.
After giving effect to the Reverse Split, the proposed amendments to our 2015 Omnibus Equity Incentive Plan (the “2015 Plan”) described under Proposal 2 in the proxy statement for our annual stockholders meeting on December 30, 2020 (the “Proxy Statement”) should now read as follows: to (i) increase the number of shares authorized for issuance thereunder from 55,556 to 1,000,000 and (ii) increase the number of shares of common stock that may be granted as awards to any individual in a single year from 2,778 to 150,000. As noted in the Proxy Statement, the Reverse Split had the effect of proportionately reducing both the authorized number of shares under the 2015 Plan and the maximum yearly grant to any one individual, but will not impact the percentages set forth in the Proxy Statement.
We have retained Alliance Advisors LLC to assist in the solicitation of proxies for a fee of $15,000, plus reimbursement of expenses.
If you have any questions or require any assistance with voting your shares, please contact our proxy solicitor at the number listed below:
200 Broadacres Blvd.
Bloomfield, NJ 07003
Stockholders, banks and brokers call toll free: 866-619-4651