Clackamas County Clerk Certifies May 20, 2025 Special District Election Results.

Clerk Catherine McMullen has certified the May 20, 2025 Special District Election results in Clackamas County, Oregon. The final voter turnout was 21.04% with 66,153 voters casting ballots. The next scheduled election is the November 4, 2025 Special Election, and candidate filing for the May 19, 2026 Primary Election will open on September 11, 2025. Final official election results are available online at www.clackamas.us/elections/may-20-2025-special-district-election.

Keros Therapeutics (KROS) is facing significant pressure from its largest stockholder, ADAR1 Capital Management, following the 2025 Annual Meeting of Stockholders. The activist investor has criticized the election results and demanded a $475 million capital return to shareholders, exceeding the company's current proposal by $100 million [1].

Directors Mary Ann Gray and Alpna Seth received only 34% and 37% of shareholders' votes, respectively, indicating substantial opposition. This level of opposition highlights a governance crisis within Keros, as ADAR1 finds the company's actions insufficient. Despite discontinuing the development of cibotercept for pulmonary arterial hypertension and reducing headcount, ADAR1 insists on a more disciplined approach to capital allocation and shareholder engagement.

ADAR1 has also demanded the implementation of a contingent value right to capture potential cash flow from Keros' partnership with Takeda. If its demands are not met, ADAR1 threatens to nominate new directors for the 2026 Annual Meeting, signaling a potential proxy contest. This conflict signifies a pivotal moment for Keros' governance as the company grapples with shareholder discontent.

References:
[1] https://www.gurufocus.com/news/2916602/adar1-issues-statement-on-keros-therapeutics-troubling-2025-director-election-results-and-insufficient-capital-return-proposal-kros-stock-news