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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d)
of
the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): July 30, 2025
Trio
Petroleum Corp.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-41643 |
|
87-1968201 |
(State
or other Jurisdiction
of
Incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
23823
Malibu Road, Suite 304
Malibu,
CA 90265
(661)
324-3911
(Address
and telephone number, including area code, of registrant’s principal executive offices)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act: None.
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
5.07 Submission of Matters to a Vote of Security Holders
On
July 30, 2025, at the annual meeting of stockholders (the “Annual Meeting”) of Trio Petroleum
Corp. (the “Company”), of the Company’s
7,522,499 shares of common stock issued and outstanding and eligible to vote as of the record date of June 2, 2025, a quorum of 3,088,875
shares, or approximately 41.1% of the eligible shares, was present or represented by proxy. Each of the matters set forth below is described
in detail in the proxy statement (the “Proxy Statement”) filed with the Securities and Exchange Commission on June 18, 2025.
The following actions were taken at the Annual Meeting:
Proposal
No. 1: Election of Two Class III Directors
The
first proposal was the election of two (2) Class II directors each to serve for a three-year term that expires at the 2028 annual meeting
of stockholders, or until the election and qualification of their respective successors in office, subject to their earlier death, resignation,
or removal. The vote on the proposal was as follows:
Name of Nominee | |
FOR | | |
WITHHELD | | |
BROKER NON-VOTE | |
William J. Hunter | |
| 1,113,976 | | |
| 43,846 | | |
| 1,931,053 | |
James H. Blake | |
| 1,126,380 | | |
| 31,442 | | |
| 1,931,053 | |
Each
nominee was elected.
Proposal
No. 2: Approval of the Amendment to the Amended and Restated Certificate of Incorporation
The
second proposal was the approval of an amendment to the Company’s Amended and Restated Certificate of Incorporation to reduce the
number of authorized shares of common stock from 500,000,000 shares of common stock to 150,000,000 shares of common stock. The vote on
the proposal was as follows:
FOR | | |
AGAINST | | |
ABSTAIN | |
2,710,136 | | |
| 332,479 | | |
| 46,260 | |
Proposal
No. 2 was approved by a majority of the votes cast. The reduction in authorized shares will be effective upon the filing of a certificate
of amendment to the Company’s Amended and Restated Certificate of Incorporation, in substantially the form attached to the Proxy
Statement as Annex A, with the Secretary of State of Delaware.
Proposal
No. 3: Approval of Amendments to
the Company’s 2022 Equity Incentive Plan (Increase in Shares
Reserved)
The
third proposal was the approval of an amendment to our 2022 Equity Incentive Plan (the “2022 Plan”) to (i) increase the number
of shares of common stock reserved for issuance with respect to awards granted under the 2022 Plan from 500,000 shares of common stock
to 2,500,000 shares of common stock and (ii) increase the maximum number of shares of common stock that may be issued pursuant to the
exercise of incentive stock options under the 2022 Plan from 500,000 shares of common stock to 2,500,000 shares of common stock. The
vote on the proposal was as follows:
FOR | | |
AGAINST | | |
ABSTAIN | | |
BROKER NON-VOTE | |
1,057,885 | | |
| 92,591 | | |
| 7,346 | | |
| 1,931,053 | |
Proposal
No. 3 was approved by a majority of the votes cast.
Proposal
No. 4: Approval of an Amendment to the Company’s 2022 Equity Incentive Plan (Annual
Increase in Shares)
The
fourth proposal was the approval of an amendment to our 2022 Plan to add a new Section 5(d) which provides for the addition of an “evergreen”
provision to the 2022 Plan such that on each November 1st, through and including November 1, 2031, a number of shares of common stock
will be added to the 2022 Plan equal to the lesser of (i) 5% of the number of shares of common stock issued and outstanding on the immediately
preceding October 31st and (ii) an amount determined by the Company’s Board. The vote on the proposal was as follows:
FOR | | |
AGAINST | | |
ABSTAIN | | |
BROKER NON-VOTE | |
1,067,474 | | |
| 82,873 | | |
| 7,475 | | |
| 1,931,053 | |
Proposal
No. 4 was
approved by a majority of the votes cast.
Proposal
No. 5: Ratification of Appointment of Independent Registered Public Accounting Firm
The
fifth proposal
was the ratification of the appointment of Bush & Associates CPA LLC. as the Company’s independent registered public accounting
firm for the year ending October 31, 2025. The vote on the proposal was as follows:
FOR | | |
AGAINST | | |
ABSTAIN | |
2,922,085 | | |
| 136,796 | | |
| 29,994 | |
Proposal
No. 5 was approved by a majority of the votes cast.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits. The following exhibits are filed as part of this report:
Exhibit
No. |
|
Description |
104 |
|
Cover
Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated:
July 31, 2025
TRIO
PETROLEUM CORP. |
|
|
|
|
By: |
/s/
Robin Ross |
|
Name: |
Robin
Ross |
|
Title: |
Chief
Executive Officer |
|