SAN DIEGO, May 28, 2013 /PRNewswire/ -- Cardium Therapeutics (NYSE MKT: CXM) announced today that Institutional Shareholder Services, Inc. ("ISS") and Glass, Lewis & Co., LLC ("Glass Lewis"), the leading independent U.S. proxy advisory firms, each recommend that Cardium's stockholders vote "FOR" all proposals in the proxy statement and recommends a "1 Year" advisory say on pay frequency with respect to the matters that will be considered at the Company's upcoming annual meeting scheduled for June 6, 2013.
"We are pleased that Glass Lewis and ISS, the leading independent proxy and corporate governance advisory firms whose recommendations are relied upon by institutional shareholders, have recommended in favor of all proposals contained in our recent proxy statement. Each of these firms recommend a vote "For" the following: (1) re-election our Class I Directors, Edward W. Gabrielson, M.D. and Lon E. Otremba; (2) approval of the compensation paid to our named executive officers; (3) approval of the sale of the Series A Convertible Preferred Stock; (4) approval of a reverse stock split (5) approval of an increase to authorized common stock; and (6) ratification of the selection of our independent auditors. Our Board of Directors encourages all stockholders to submit their proxies in support of the Company's proposals," stated Christopher J. Reinhard, Cardium's Chairman and CEO.
On April 29, 2013, the Company filed its definitive proxy statement on Schedule 14A in connection with the annual meeting. Cardium's proxy statement and any other materials filed by the Company with the SEC can be obtained free of charge at the SEC's website at www.sec.gov or from the Company's website at www.cardiumthx.com. Only stockholders who held the Company's common stock as of the record date of April 26, 2013 are eligible to vote at the annual meeting. Cardium's stockholders are strongly advised to read the proxy statement carefully before making any voting decision.Stockholders that have any questions relating to the Company's annual meeting, voting methods, or require additional proxy materials should contact the Company's proxy advisor, Georgeson, at 888-219-832.