iPower Inc. filed a Current Report on Form 8-K with the Securities and Exchange Commission on September 21, 2026, disclosing the results of a special meeting of stockholders held on that same date. The meeting was held at the Company's principal executive offices located at 8798 9th Street in Rancho Cucamonga, California.
A total of 6,427,376 votes were eligible to be cast at the meeting. Of these, 2,322,467 shares were voted in person or by proxy, representing 36.13% of the eligible votes. The stockholders voted on three separate proposals.
The first proposal was a Stock Offering Proposal. Stockholders approved the issuance of up to $10,000,000 of common stock in one or more private placements or public offerings. The price of the issuance may be above, equal to, or below the Nasdaq Minimum Price. The approval was intended to ensure compliance with Nasdaq Listing Rule 5635(d). The vote for approval was 2,272,998, with 49,465 votes against and 4 abstentions.
The second proposal was a Reverse Stock Split Proposal. Stockholders approved an amendment to the Company’s Sixth Amended and Restated Articles of Incorporation. This amendment authorizes the Company’s board of directors to effect a reverse stock split of the Common Stock at a stock split ratio of up to 1-for-250. The ultimate ratio is to be determined by the board of directors in its sole discretion. The vote for approval was 2,271,824, with 50,639 votes against and 4 abstentions.
The third proposal was an Equity Incentive Plan Proposal. Stockholders approved a Third Amended and Restated 2020 Equity Incentive Plan. The plan includes two key provisions: (i) an adjustment of the total number of shares reserved for issuance under the plan to 50,000,000 shares, and (ii) an evergreen provision providing for a 5% automatic annual increase in the shares of Common Stock available for issuance under the plan over a period of ten years. The vote for approval was 2,283,378, with 39,085 votes against and 4 abstentions.
The Company also attached the Third Amended and Restated 2020 Equity Incentive Plan as Exhibit 10.1 to the filing.