Vivakor, Inc. announced a 1-for-15 reverse stock split of its common stock, effective October 5, 2026, to support its continued listing on the Nasdaq Capital Market. The company also disclosed a transition agreement related to the resignation of Leslie D. Patterson as its Executive Vice President and Chief Operating Officer.
Key Details
- Reverse Stock Split: The split is effective at the open of trading on October 5, 2026. It will reduce the number of outstanding shares from approximately 8.98 million to 0.60 million. The ticker symbol VIVK will remain the same.
- Executive Departure: Leslie D. Patterson resigned from his roles as Executive Vice President and Chief Operating Officer, effective September 24, 2026. The company noted it is not aware of any disagreements with Mr. Patterson.
- Transition Agreement: The company will pay Mr. Patterson $150,000 and the parties will enter into a consulting agreement by October 9, 2026, under which he will receive common stock as compensation for his services.