Linkhome Shareholders Greenlight Reverse Split, Reject Director Nominee Leung Tsz Kan

summarizeSummary

Linkhome shareholders approved a reverse stock split to avoid Nasdaq delisting and rejected director nominee Leung Tsz Kan at the annual meeting. The 2026 Equity Incentive Plan was also adopted.

check_boxKey Events · Corporate Governance and Compliance · LHAI

• Reverse Stock Split Authorized

  Shareholders approved a reverse split at a ratio between 1-for-5 and 1-for-20, with 9.35M votes in favor. The board can implement it anytime within one year to regain Nasdaq compliance after the July 2 delisting notice.

• Director Nominee Rejected

  Leung Tsz Kan received only 205,151 For votes versus 8.56M Against, a decisive rejection. Five other nominees were elected with over 8.7M For votes each.

• 2026 Equity Incentive Plan Adopted

  The plan was approved with 8.72M For votes, authorizing new equity grants that could dilute existing shareholders but align management incentives.

• Auditor Ratified

  Simon & Edward, LLP was ratified as the independent auditor for fiscal 2025 with 9.64M For votes.

auto_awesomeAnalysis · LHAI · Real Estate & Construction

At the July 15 annual meeting, shareholders authorized a reverse stock split at a ratio between 1-for-5 and 1-for-20, a critical move to cure Nasdaq's minimum bid price deficiency and avert delisting. The board now holds discretion to execute the split within one year. In a striking governance rebuke, director nominee Leung Tsz Kan was overwhelmingly rejected, with only 205K votes in favor versus 8.56M against, while five other directors were elected. The 2026 Equity Incentive Plan was also adopted, introducing potential dilution but better aligning management incentives. These outcomes follow the June 22 proxy filing and the July 2 delisting notice, underscoring the urgency of the reverse split to preserve the Nasdaq listing.