8-K: Forum Markets Eliminates Series B Preferred Stock

Forum Markets, Inc. has filed a Certificate of Elimination to remove its Series B Convertible Preferred Stock from its authorized capital structure.

Summary

• Forum Markets, Inc. filed a Certificate of Elimination with the Delaware Secretary of State on April 23, 2026.
• The filing formally eliminates the Series B Convertible Preferred Stock, which was originally designated on September 20, 2024.
• The company confirmed that no shares of the Series B Preferred Stock were issued or outstanding at the time of the filing.
• The elimination became effective at 12:01 a.m. on April 24, 2026.
• The 1,000,000 shares previously designated as Series B Preferred Stock have reverted to the status of authorized but unissued shares of preferred stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral, administrative event that has no material impact on the company's financial position or operations.

Positives

• Simplification of the company's capital structure by removing unused preferred stock designations.
• Elimination of potential future dilution or complexity associated with the Series B Preferred Stock.

Negatives

• None identified; this is a routine administrative housekeeping action.

Risks

• None identified; the action relates to non-existent securities.

Future Outlook

The company has not provided specific forward-looking guidance in this filing, as it is limited to a corporate governance update regarding capital structure.

Management Comments

• The Board determined it to be in the best interest of the Company to eliminate the Series B Convertible Preferred Stock, none of which is outstanding.

Industry Context

StockSavvy.ai notes that this is a standard corporate housekeeping measure often taken by companies to clean up their balance sheets and simplify their authorized share structures, which is common practice for publicly traded entities to reduce administrative overhead.

Comparison to Industry Standards

• The action is consistent with standard Delaware corporate governance practices for managing authorized but unissued share classes.
• Similar to other Nasdaq-listed firms, Forum Markets is maintaining a clean capital structure by removing dormant security designations.

Corporate Governance

Stakeholder Impact

• Shareholders: Minimal impact as no shares were outstanding.
• Company: Reduced administrative complexity regarding authorized share classes.

Next Steps

• No further actions are required as the elimination is now effective.

Key Dates

Keywords

Forum Markets, FRMM, Capital Structure, Preferred Stock, Certificate of Elimination, Delaware Corporate Law