Guardforce AI (GFAI) shareholders approved major corporate restructuring proposals at an extraordinary general meeting on November 3, 2026. The measures include a dual-class share structure that gives CEO Lei Wang sole ownership of new Class B shares, each carrying 20 votes.
The redesignation will increase Wang’s voting power from approximately 10% to around 69%, giving her majority control over the company and significant influence over its strategic decisions.
Shareholders also approved a 1-for-40 reverse stock split as part of a broader capital reorganization aimed at regaining compliance with Nasdaq’s minimum bid price requirement. An amendment to the company’s equity incentive plan also passed.