Monitor the voting outcome on October 28, 2026. Approval is virtually certain given insider ownership of 30% and two 5%+ holders controlling over 50% combined. The real signal will be the pace of future equity grants and any associated cash runway updates in subsequent filings.
Price Chart
Executive Summary
Akari Therapeutics is holding a general meeting on October 28, 2026, to seek shareholder approval to increase the share reserve under its 2023 Equity Incentive Plan by 144 billion ordinary shares (equivalent to 1.8 million ADSs), from 19.8 billion to 163.8 billion ordinary shares. This massive dilution request—nearly 8x the current plan size—comes as the company has only 484.7 million shares remaining for future awards and is a routine governance matter for a micro-cap biotech with an extremely high share count.
Key Facts
- Shareholders are asked to approve an increase in the 2023 Plan share reserve by 144,000,000,000 ordinary shares (1,800,000 ADSs) to a total of 163,806,000,000 ordinary shares (2,047,575 ADSs).
- As of September 30, 2026, there were 182,813,169,533 ordinary shares outstanding.
- As of October 1, 2026, only 484,739,210 ordinary shares remained available for future awards under the 2023 Plan.
- Outstanding stock options cover 16,272,945,001 ordinary shares with a weighted average exercise price of $0.00055 and a weighted average remaining term of 8.8 years.
- The board unanimously recommends a vote FOR the proposal; the meeting is scheduled for October 28, 2026.
- Two 5%+ shareholders (Matthew Joseph Nachtrab Revocable Trust at 59.5% and Thomas Mollick at 52.4%) hold primarily warrants and pre-funded warrants, not common shares.
Financial Impact
The proposed share increase represents a ~788% expansion of the current plan reserve (from 19.8B to 163.8B shares), but given the company's extremely low share price and massive outstanding share count, the dollar value of potential dilution is not quantifiable from this filing alone.
Risk Factors
- Massive potential dilution if all authorized shares under the amended plan are issued, though the low exercise price ($0.00055) suggests minimal cash inflow from option exercises.
- No financial performance data or executive compensation details are provided in this filing to assess alignment with shareholder interests.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEF 14A Filing (Primary) | 0001493152-26-045371 |
| Document: 0001493152-26-045371-index-headers.html | 0001493152-26-045371 |
| Document: 0001493152-26-045371-index.html | 0001493152-26-045371 |
| Document: 0001493152-26-045371.txt | 0001493152-26-045371 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 1, 2026 25d ago | DEF 14A | $8.72 | awaiting T+60 | — | $8.48 (−2.75%) |
Oct 1, 2026 25d ago | 8-K | $8.72 | awaiting T+60 | — | $8.48 (−2.75%) |
Aug 13, 2026 10w ago | 8-K | $7.54 | awaiting T+60 | — | $8.48 (+12.47%) |
Jul 14, 2026 15w ago | EFFECT | $13.42 $8.63 | ▲ +35.73% | ▲ +39.11% | $8.48 (+36.81%) |
Jul 8, 2026 15w ago | EFFECT | $14.21 $8.84 | ▼ −37.79% | ▼ −40.28% | $8.48 (−40.32%) |
Jul 2, 2026 16w ago | S-3 | $10.41 $9.81 | ▲ +5.76% | ▲ +9.33% | $8.48 (+18.54%) |
Jun 29, 2026 17w ago | Press Release | $9.69 $10.05 | ▲ +3.72% | ▼ −0.67% | $8.48 (−12.49%) |
Jun 26, 2026 17w ago | 8-K | $9.69 $10.05 | ▲ +3.72% | ▼ −0.67% | $8.48 (−12.49%) |
May 28, 2026 21w ago | Press Release | $22.05 $7.85 | ▼ −64.40% | ▼ −66.13% | $8.48 (−61.54%) |
May 22, 2026 22w ago | 8-K | $17.81 $7.90 | ▲ +55.64% | ▲ +58.37% | $8.48 (+52.39%) |
US Market Status
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