PR Newswire·Jul 1, 2026, 3:42 PM ET

Corvex Stockholders Approve Key Governance and Capital Structure Proposals at 2026 Annual Meeting

Corvex, Inc. (Nasdaq: MOVE) completed its 2026 Annual Meeting of Stockholders virtually with approval of all proposals.
Shareholders elected three new directors: Patrick Fleury, Jay Crystal, and Nicholas Donofrio.
The company disposed of legacy Movano healthcare assets, including Wellness Ring & Medical Ring products & IP, to a lender to satisfy secured indebtedness.
Corvex is shifting its strategic focus exclusively to GPU-accelerated AI infrastructure following the removal of its healthcare division.
Seth Demsey was appointed co-Chief Executive Officer alongside co-Founder Jay Crystal.
Stockholders authorized the full conversion of Series C Preferred Stock into common stock & the option to convert Series D Preferred Stock, requiring Nasdaq rule approval due to issuance exceeding 20% of outstanding shares.
Upon conversion, the company will have approximately 27.6 million outstanding common shares & Series D shares convertible into 28.9 million common shares.
Chance Moreland joined as Chief Financial Officer & was granted 523,211 restricted stock units as an inducement.
The Board of Directors now consists of six members across three staggered classes serving through 2027, 2028, or 2029.
BDO USA, P.C. was ratified as the company's independent auditor.