OFA Group shareholders approve 1-for-10 reverse stock split and new equity incentive plan

Filed May 26, 2026 · Period ending May 21, 2026 · ~1 min read

Key Changes

• high

  Shareholders authorized board to implement 1-for-10 reverse stock split of Class A shares at board's discretion (517.5M votes for vs 59K against). Reverse splits reduce share count to boost per-share price, often to meet exchange listing requirements.

  Item 5.07: Shareholder vote verify on EDGAR →
• high

  Company maintains dual-class structure where 20M Class B shares (25 votes each) control 95% of voting power versus 26.3M Class A shares (1 vote each). Class B holders, typically insiders, maintain control despite owning only 43% of economic interest.

  Item 5.07: Record date disclosure verify on EDGAR →
• medium

  Shareholders approved 2026 Equity Incentive Plan for employee and director compensation (517.5M votes for). Plan allows stock options and restricted stock grants but will dilute existing shareholders. Specific plan size and terms not disclosed in filing.

  Item 5.02: Equity plan verify on EDGAR →