Mannatech Announces Results of 2006 Annual Shareholders' MeetingShareholders Approved Both Proposals
Mannatech's (NASDAQ: MTEX) shareholders passed both proposals at the annual shareholder meeting held on Monday, June 12, 2006. At the meeting, 88.17% of shareholders entitled to vote in person or by proxy approved, by an overwhelming majority, Mannatech's proposal to re-elect Messrs. Gerald E. Gilbert, Marlin Ray Robbins, and Larry A. Jobe as Class I Directors of its Board of Directors. As Class I Directors, Messrs. Gerald E. Gilbert, Marlin Ray Robbins, and Larry A. Jobe will serve until the earlier of Mannatech's 2009 annual shareholders' meeting or until their disqualification, resignation, death, or removal from the Board. As part of their compensation as Directors, the Board of Directors granted 11,150 stock options, at an exercise price of $11.21 per share, with one-third vesting immediately and the balance vesting over the next two years to Messrs. Gilbert and Robbins and granted 1,858 stock options, at an exercise price of $11.21 per share, with one-third vesting immediately and the balance vesting over the next two years to Mr. Jobe.
Approximately 88% of Mannatech's shareholders entitled to vote in person or by proxy also ratified, by an overwhelming majority, the appointment of Mannatech's independent registered public accounting firm, Grant Thornton LLP, for Mannatech's fiscal year ended December 31, 2006.
