A reverse stock split is when a company reduces the number of shares in circulation by merging them, so multiple existing shares become a single share at a proportionally higher price. Shareholders of Arcadia Biosciences, Inc. (Nasdaq: RKDA) voted on September 10, 2026 to give the board the authority to do exactly that, if it chooses to act before June 30, 2027. Seven proposals were on the ballot at the Dallas company's annual meeting; all seven passed.
The reverse split: authorized, not decided
Holders representing roughly 52.3% of the company's outstanding common stock, or 1,259,315 shares, were present in person or by proxy. The reverse split authorization passed 1,120,937 to 138,084, with 294 abstentions. The board has not committed to acting on it. If it does, it could set the consolidation ratio anywhere between 1-for-2 and 1-for-10, with the final number to be determined by the board at a later date.
A new equity program replaces the 2015 plan
Shareholders approved the 2026 Omnibus Equity Incentive Plan, the structure through which the company can grant stock options and other equity-based awards to employees and directors. The plan became effective September 10, the day stockholders approved it, and replaces the 2015 Omnibus Equity Incentive Plan, which expired and terminated in 2025. Awards previously granted under the 2015 plan are not affected; the older program continues to govern them. The 2026 plan passed 326,188 to 149,113, with 7,889 abstentions.
In a related capital vote, shareholders approved the potential issuance of common shares upon exercise of Series A-1 Preferred Investment Options, instruments issued in a private placement that closed June 12, 2026. That proposal passed 410,749 to 70,314.
Gregory D. Waller received 377,954 votes in favor of his election as a Class II director, with 105,236 shares withheld. He will serve until the company's 2029 annual meeting. Under the plurality system used for director elections at Arcadia, withheld votes are not treated as opposition. The advisory vote on executive compensation passed 331,298 to 149,447. Ramirez Jimenez International CPAs was ratified as the company's independent auditor for 2026 with 1,235,444 votes in favor and 19,532 against.
Chief Executive Officer Thomas J. Schaefer signed the 8-K, which Arcadia filed with the Securities and Exchange Commission on September 15, 2026.