Sphere 3D shareholders approve Cathedra acquisition, new board, and potential 1-for-5 reverse split

Filed May 21, 2026 · Period ending May 15, 2026 · ~1 min read

Key Changes

• high

  Shareholders approved issuing new securities to Cathedra shareholders and convertible holders as payment for the acquisition, which will dilute existing shareholders through the issuance of new shares.

  Item 5.07: Shareholder vote verify on EDGAR →
• high

  Board will be set at five directors upon deal closing, with five new directors elected: Timothy Hanley, Marcus Dent, Kurt Kalbfleisch, Joel Block, and Nicholas Gates—a complete board refresh.

  Item 5.07: Director election verify on EDGAR →
• medium

  Equity incentive plan expanded by 1.5 million shares (235% increase) to 2.14 million total, primarily to replace Cathedra employee equity as part of the acquisition.

  Item 5.07: Incentive plan verify on EDGAR →