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Get filing alertsTrio Petroleum shareholders approve reverse stock split up to 1-for-10
Filed May 22, 2026 · Period ending May 21, 2026 · ~1 min read
Key Changes
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Shareholders authorized a reverse stock split between 1:2 and 1:10 ratio, with exact terms to be determined by the Board. This typically signals efforts to boost share price or maintain exchange listing requirements, but doesn't change the company's underlying value.
Item 5.07 verify on EDGAR → -
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Equity compensation plan expanded by 3.5 million shares, increasing total reserved shares to 6.45 million. This represents potential dilution of approximately 118% versus the previous plan size.
Item 5.07 verify on EDGAR → -
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Robin Ross elected as Class III director for three-year term expiring 2029. Received 4.17 million votes for versus 1.05 million withheld.
Item 5.07 verify on EDGAR → -
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Bush & Associates CPA LLC ratified as independent auditor for fiscal year ending October 31, 2026, with 11.84 million votes in favor.
Item 5.07 verify on EDGAR →
Summary
Trio Petroleum's annual meeting produced one significant outcome for retail investors: authorization for a reverse stock split of up to 1-for-10. While the Board hasn't yet decided whether to execute the split or at what ratio, this tool is typically deployed when a company's share price has fallen too low, either to meet exchange listing requirements or to attract institutional investors who avoid low-priced stocks.
The split itself doesn't change the company's market value—if you own 1,000 shares at $1 each before a 1:10 split, you'd own 100 shares at $10 each after. Shareholders also approved a substantial expansion of the equity incentive plan, adding 3.5 million shares for employee and director compensation.
This more than doubles the plan's size and represents meaningful potential dilution for existing holders as these awards vest over time. Investors should watch for the Board's decision on whether to implement the reverse split and at what ratio. If executed, it often signals the company has been struggling with share price performance. The timing and ratio chosen will indicate how urgent management views the situation.
Section-by-Section Diff
Event · Item 5.07 — Submission of Matters to a Vote of Security Holders
Trio Petroleum held its 2026 annual meeting, electing one director and approving a reverse stock split, equity plan expansion, and auditor.
Added in current filing · verify on EDGAR →
The second proposal was the approval of an amendment to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split of the Company’s outstanding shares of common stock, if deemed necessary by our Board of Directors, by a ratio of not less than one-for-two (1:2) and not more than one-for-ten (1:10), with the exact ratio to be set at a whole number within this range as determined by the Board of Directors in its sole discretion.
Shareholders approved authorization for a reverse stock split at a ratio between 1:2 and 1:10, with the exact ratio to be determined by the Board. The vote was 10,308,391 for, 2,356,772 against, and 564,683 abstaining. Reverse splits are often used to maintain exchange listing requirements or increase per-share price, but they reduce share count proportionally without changing market capitalization.
Added in current filing · verify on EDGAR →
The third proposal was the approval of an amendment to our 2022 Equity Incentive Plan (the “2022 Plan”) to increase the number of shares of common stock reserved for issuance with respect to awards granted under the 2022 Plan from 2,952,383 shares of common stock to 6,452,383 shares of common stock by adding 3,500,000 shares.
Shareholders approved adding 3,500,000 shares to the 2022 Equity Incentive Plan, increasing the total reserved shares from 2,952,383 to 6,452,383. The vote was 3,588,103 for, 1,149,760 against, and 485,533 abstaining. This expansion increases potential dilution to existing shareholders as the company grants equity compensation to employees and directors.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
The fourth proposal was the ratification of the appointment of Bush & Associates CPA LLC. as the Company’s independent registered public accounting firm for the year ending October 31, 2026. The vote on the proposal was as follows: FOR | AGAINST | ABSTAIN | 11,840,250 | 682,374 | 707,222 Proposal No. 4 was approved by a majority of the votes cast.
Shareholders ratified Bush & Associates CPA LLC as the independent auditor for fiscal year ending October 31, 2026. The vote was 11,840,250 for, 682,374 against, and 707,222 abstaining. This is a routine annual approval of the audit firm.
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Figures/quotes linked to EDGAR · Narrative written by AI · May 24, 2026 · How we verify