PETMED EXPRESS INC

PetMed Express announced that Leah A. Solivan, a member of its Board of Directors, has decided not to seek reelection at the upcoming 2026 annual meeting of stockholders. Her term will conclude on August 11, 2026. The company stated that her decision was not a result of any disagreement with the company's operations, policies, or practices.

PetMed Express, Inc. announced its 2026 Annual Meeting of Shareholders will be held virtually on August 11, 2026. Shareholders will vote on the election of four directors, an advisory resolution to approve named executive officer compensation, and the ratification of Baker Tilly US, LLP as the independent registered public accounting firm for fiscal year 2027. Additionally, shareholders will consider an amendment to the 2024 Omnibus Incentive Plan to increase the number of shares reserved for issuance by 1,800,000, which could lead to approximately 8% dilution.

PetMed Express (PetMeds) filed its 10-K, detailing its evolution into a leading direct-to-consumer pet health and wellness retailer, supported by the 2023 acquisition of PetCareRx. The company is focused on transitioning to a best-in-class pharmacy provider with a technology-driven infrastructure, emphasizing clinical compliance, loyalty programs, and B2B partnerships. PetMeds attracted approximately 266,000 new customers in fiscal 2026, with AutoShip and membership programs generating 62.6% of Q4 FY2026 sales, and an average order value of $98.

PetMed Express announced its fourth quarter and fiscal year 2026 financial results, reporting a significant year-over-year decline in net sales for both periods, primarily due to a drop in prescription medication sales. While the company narrowed its net loss in the fourth quarter, the full fiscal year saw a substantial increase in net loss, impacted by goodwill impairment charges and increased stock-based compensation. Despite receiving unsolicited acquisition proposals, the company's Board decided not to proceed, opting to remain an independent entity.

PetMed Express reported a net loss of $57.3 million, or $(2.74) per diluted share, on net sales of $179.0 million for fiscal year 2026, a 21.1% decrease from the prior year. For the fourth quarter, net sales decreased 15.6% to $42.8 million, with a net loss of $4.1 million. The company also announced its Board decided not to proceed with two unsolicited acquisition proposals ranging from $4.00 to $4.25 per share, opting to continue as an independent public company while remaining open to future offers.

PetMed Express announced that its 2026 Annual Meeting of Shareholders will be held virtually on August 11, 2026. Due to this date change, which is more than 30 days from the anniversary of the 2025 meeting, previous deadlines for shareholder proposals and director nominations no longer apply. New deadlines have been established, requiring all shareholder proposals and director nominations to be received by the company no later than May 31, 2026, in accordance with SEC rules and the company's bylaws.

PetMed Express, Inc. (PetMeds) announced a strategic partnership with Rural King to launch a new pet pharmacy offering. This collaboration will expand access to prescription medications and pet health products for millions of Rural King customers across its retail stores and digital platforms, particularly in underserved rural communities. PetMeds will provide the necessary pharmacy infrastructure, licensed pharmacists, and e-commerce capabilities, marking its first large-scale white-label pharmacy program and significantly broadening its market reach.