Corporate ActionMay 5, 2026, 04:31 PM
Ascend Wellness Converts All Class B Stock to Class A; Reduces Authorized Shares
AI Summary
Ascend Wellness Holdings, Inc. completed the automatic conversion of all 65,000 outstanding shares of Class B common stock into Class A common stock on May 4, 2026. Following this, the company filed a Certificate of Retirement, reducing the total authorized common stock by 65,000 shares to 750,035,000, and Class B authorized shares to 35,000. Additionally, at its Annual Meeting on April 29, 2026, stockholders elected six directors, ratified WithumSmith+Brown, PC as the independent auditor, and reapproved the stock incentive plan.
Key Highlights
- All 65,000 issued and outstanding shares of Class B common stock automatically converted into Class A common stock.
- Total authorized common stock reduced by 65,000 shares to 750,035,000.
- Authorized Class B common stock reduced by 65,000 shares to 35,000.
- Six directors were elected to the Board until the 2027 Annual Meeting.
- Appointment of WithumSmith+Brown, PC as independent auditor for 2026 was ratified with 170,618,274 votes for.
- The stock incentive plan and unallocated stock option entitlements were reapproved with 98,316,897 votes for.
- A quorum was met at the Annual Meeting with 170,808,164 aggregate votes represented.
Price Impact
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