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Shareholders approve reverse split charter amendment allowing one-for-three to one-for-twenty ratio
POLAPolar Power, Inc.
Polar Power stockholders approved a proposal to amend the company's certificate of incorporation, granting the board discretion to effect a reverse stock split at any time before December 31, 2027. The authorized range for the split ratio is from one-for-three to one-for-twenty, with the specific timing and ratio to be determined by the Board. Additionally, shareholders ratified the appointment of Weinberg & Company as independent auditor, elected six directors, approved a potential equity issuance exceeding 19.99% of outstanding shares under Nasdaq rules, and set the executive compensation advisory vote frequency to every two years. Polar Power develops and manufactures portable power generation systems.