Profound Medical Annual General and Special Meeting of Shareholders Voting Results
Rhea-AI Summary
Profound Medical (NASDAQ: PROF) reported voting results from its May 13, 2026 Annual General and Special Meeting. Shareholders representing 25,347,133 shares, or 69.754% of outstanding shares, were present. All matters in the April 2, 2026 circular were approved, including eight director elections, auditor appointment, and long-term incentive plan resolutions.
Positive
- Strong quorum with 69.754% of outstanding common shares represented
- All eight director nominees received over 78.999% support
- PricewaterhouseCoopers reappointed as auditor with shareholder approval
- Unallocated RSUs and DSUs under long-term incentive plan approved
Negative
- None.
News Market Reaction – PROF
In the May 14 session, PROF gained 1.41%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 07 | Q1 2026 earnings | Positive | -4.3% | Strong revenue growth and narrower loss but shares fell post-report. |
| Apr 29 | AI sector overview | Neutral | -2.2% | Inclusion in AI diagnostics article coincided with share price decline. |
| Apr 16 | Earnings date set | Neutral | +3.1% | Announcement of Q1 release date and call saw shares tick higher. |
| Apr 14 | Investor conference | Neutral | -0.2% | Participation in Bloom Burton conference had minimal share impact. |
| Apr 01 | Clinical presentations | Positive | +0.8% | Multiple TULSA-PRO presentations linked with a modest price gain. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news shows mixed reactions: strong Q1 results and positive sector visibility were followed by share price declines, while conference-related updates have generally aligned with modest gains or flat trading.
Over the past months, Profound Medical has highlighted clinical progress and investor outreach while reporting improving financials. On Mar 13, CAPTAIN trial data showed functional benefits for TULSA vs. surgery. Subsequent 8-Ks and news in early April focused on scientific and investor conferences. On May 7, Q1 2026 results showed strong revenue growth and a narrower loss, yet the stock fell 4.33%. Today’s AGM voting results fit into this governance and execution narrative without altering the broader trajectory.
Key Terms
long-term incentive plan financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario--(Newsfile Corp. - May 13, 2026) - Profound Medical Corp. (TSX: PRN) (NASDAQ: PROF) ("Profound" or the "Company") is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders that was held today (the "Meeting"). A total of 25,347,133 common shares, representing
All of the matters put forward before the shareholders, as set out in the Company's management information circular dated April 2, 2026 (the "Information Circular"), were approved by the requisite majority of votes cast at the Meeting.
Election of Directors
At the meeting, the shareholders of the Company elected all eight (8) nominees for the board of directors (the "Board"). Detailed results of the voting in respect of the election of directors are as follows:
| Nominee | For | % For | Withheld | % Withheld |
| Arun Menawat | 12,773,374 | 90.257 | 1,378,792 | 9.743 |
| Brian Ellacott | 11,541,684 | 81.554 | 2,610,482 | 18.446 |
| Cynthia Lavoie | 11,586,793 | 81.873 | 2,565,373 | 18.127 |
| Murielle Lortie | 11,586,693 | 81.872 | 2,565,473 | 18.128 |
| Arthur Rosenthal | 11,180,113 | 78.999 | 2,972,053 | 21.001 |
| Frank Baylis | 12,945,473 | 91.473 | 1,206,693 | 8.527 |
| Thomas Wellner | 12,948,509 | 91.495 | 1,203,657 | 8.505 |
| Vafa Jamali | 12,885,003 | 91.046 | 1,267,163 | 8.954 |
Other Matters
The Company's shareholders also approved the appointment of PricewaterhouseCoopers LLP as the auditor for the Company to hold office until the close of the next annual meeting or until its successor is duly appointed, at such remuneration as may be determined by the board of directors and an ordinary resolution approving all unallocated restricted share units and deferred share units under the Company's long-term incentive plan, as more particularly described in the Information Circular. Detailed voting results for all resolutions will be posted under the Company's profile at www.sedarplus.ca.
About Profound Medical Corp.
Profound is a commercial-stage medical device company that develops and markets AI-powered, MRI-guided, incision-free therapies for the ablation of diseased tissue.
Profound is commercializing TULSA-PRO®, a technology that combines real-time MRI, AI-enhanced planning, robotically-driven transurethral ultrasound and closed-loop temperature feedback control. The TULSA Procedure™, performed using the TULSA-PRO system, has the potential of becoming a mainstream treatment modality across the entire prostate disease spectrum; ranging from low-, intermediate-, or high-risk prostate cancer; to hybrid patients suffering from both prostate cancer and benign prostatic hyperplasia ("BPH"); to men with BPH only; and also, to patients requiring salvage therapy for radio-recurrent localized prostate cancer. The TULSA Procedure employs real-time MR guidance for precision to preserve patients' urinary continence and sexual function, while killing the targeted prostate tissue via precise sound absorption technology that gently heats it to 55-57°C. TULSA is an incision- and radiation-free "one-and-done" procedure performed in a single session that takes a few hours. Virtually all prostate shapes and sizes can be safely, effectively, and efficiently treated with TULSA. There is no bleeding associated with the procedure; no hospital stay is required; and most TULSA patients report quick recovery to their normal routine. TULSA-PRO is CE marked, Health Canada approved, and 510(k) cleared by the U.S. Food and Drug Administration ("FDA").
Profound is also commercializing Sonalleve®, an innovative therapeutic platform that is CE marked for the treatment of uterine fibroids, adenomyosis, pain palliation of bone metastases, desmoid tumors and osteoid osteoma. Sonalleve has also been approved by the China National Medical Products Administration for the non-invasive treatment of uterine fibroids and has FDA approval under a Humanitarian Device Exemption for the treatment of osteoid osteoma. Profound is in the early stages of exploring additional potential treatment markets for Sonalleve where the technology has been shown to have clinical application, such as non-invasive ablation of abdominal cancers and hyperthermia for cancer therapy.
Forward-Looking Statements
This release includes forward-looking statements regarding Profound and its business which may include, but is not limited to, statements relating to the expectations regarding the efficacy of Profound's technologies for disease conditions requiring ablation procedures for prostate, uterine fibroids, adenomyosis, palliative pain treatment, desmoid tumors, and osteoid osteoma and the success of Profound's commercialization strategy and activities for TULSA-PRO and Sonalleve. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of Profound. The forward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company. Although Profound has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Other factors and risks that may cause actual results to differ materially from those set out in the forward-looking statements are described in Profound's Annual Report on Form 10-K and other filings made with U.S. and Canadian securities regulators, available at www.sedarplus.ca and www.sec.gov. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Profound undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, other than as required by law.
For further information, please contact:
Stephen Kilmer
Investor Relations
skilmer@profoundmedical.com
T: 647.872.4849
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297432