Vertical Data Inc. filed a Current Report on Form 8-K dated September 16, 2026, disclosing several corporate actions and executive compensation details. On September 17, 2026, the Company held its 2026 annual meeting of stockholders, which was attended by a quorum.
At the meeting, stockholders approved the Amended and Restated Bylaws of the Company. The Company stated that these bylaws represent current best practices and are intended to support the Company's objective of uplisting its shares of common stock to a national securities exchange from the OTCQB Venture Market.
Additionally, stockholders approved a Certificate of Amendment to the Company’s Articles of Incorporation. This amendment increases the total number of authorized shares by 10,000,000, designating these entirely as shares of preferred stock with a par value of $0.0001 per share. The Company’s Articles of Incorporation, as amended, now provide for an aggregate of 110,000,000 authorized shares, consisting of 100,000,000 shares of common stock and 10,000,000 shares of preferred stock. The amendment also includes provisions regarding director indemnification, a requirement that bylaws may only be altered by an affirmative vote of a majority of directors, and an update to the corporate purpose to all lawful activities permitted under Nevada law.
The filing also details the issuance of restricted stock units (RSUs). On September 16, 2026, the Board of Directors granted an aggregate of 188,222 RSUs to officers and directors. The RSUs were granted under the 2024 Incentive Plan and represent the right to receive one share of common stock. The recipients and their respective grant values are:
- Deven Soni (Chairman, President, CEO): 81,118 RSUs (target value $383,689).
- Christopher Creatura (Chief Credit Officer): 43,680 RSUs (target value $206,606).
- David Hackett (Board Member): 31,712 RSUs (target value $150,000).
- Jaime Leverton (Board Member): 31,712 RSUs (target value $150,000).
The RSUs were 100% vested as of the grant date and were determined based on a 30-calendar-day volume-weighted average price of $4.73 as reported by OTC Markets for the period ended September 15, 2026.
Regarding the Annual Meeting results, stockholders elected Deven Soni, David Hackett, and Jaime Leverton to the Board of Directors. They also ratified the appointment of Simon & Edward LLP as the independent registered public accounting firm and approved the Amended and Restated Bylaws and the Certificate of Amendment.
