Shareholders approved increasing authorized shares from 150M to 225M and granting equity awards to CEO Ryan Steelberg. Debt due in November remains a priority.
Veritone shareholders approved all six proposals at the company's 2026 annual meeting, including a 50% increase in authorized shares and equity awards for CEO Ryan Steelberg.
The authorized common share count will rise to 225 million from 150 million. The equity incentive plan adds 3 million reserved shares. Steelberg said management is "always very concerned about further dilution" but needs the capacity to support hiring and possible capital raises while the company works toward profitability.
Steelberg also addressed a question about Veritone's debt, which comes due in November. He said deleveraging has been a major priority and that the company has exited its term debt but still has "stub debt" outstanding. Veritone remains in communication with bondholders and expects to service or restructure the debt, he said, without providing details.
On pending class action lawsuits, Steelberg called the claims "baseless" and "without merit." He said Veritone intends to "vigorously defend against these allegations."
Steelberg also discussed the company's partnership with Oracle. He said Veritone is on track with transitioning workloads to Oracle's OCI stack and described the relationship as a "strong and dynamic partnership." He recently spoke at Oracle Cloud Infrastructure's annual sales kickoff.
AlphaScala's Alpha Score for Oracle (ORCL) stands at 38 out of 100, reflecting a mixed outlook.
Steelberg said Veritone plans to host an innovation showcase later in the day and expects to discuss second-quarter 2026 results and provide a business update in early August.
Veritone (NASDAQ: VERI) provides AI solutions for media, legal, government and enterprise applications through its aiWARE platform.
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