Cycurion, Inc. announced that its stockholders approved several key proposals at its 2026 Annual Meeting on July 23, 2026. The approved measures include significant corporate governance and capital structure changes, such as the establishment of a classified board of directors and authorization for a future reverse stock split.
Key Details
- Classified Board: Stockholders approved amendments to the company's Certificate of Incorporation and Bylaws to divide the Board of Directors into three classes with staggered three-year terms, effective immediately. Directors may now only be removed for cause.
- Reverse Stock Split Authorization: The Board of Directors has been granted discretionary authority to effect a reverse stock split of the company's common stock at a ratio ranging from 3-for-1 to 75-for-1, with an aggregate limit not to exceed 250-for-1.
- Amended Equity Plan: The company's Amended and Restated 2025 Equity Incentive Plan was approved, which notably permits the granting of equity awards based on preferred stock in addition to common stock to enhance compensation flexibility.