SkyAI shareholders Bastion Trading and Forward Industries oppose board re-election

ME News reports that on September 10 (UTC+8), Bastion Trading, a shareholder of SkyAI (ticker: SKYA), the treasury company of Solana, along with Forward Industries—which previously made an acquisition proposal—both opposed the re-election of the current five board members. Bastion Trading and its affiliated shareholders hold approximately 9.99% of the company and had previously filed with the U.S. Securities and Exchange Commission on September 3 to vote “against” all director nominees, citing reasons including charter amendments that weakened shareholder rights, the implementation of a poison pill without shareholder approval, and related-party transactions. Forward Industries also issued an open letter urging shareholders to vote “against” all directors and opposing the 2026 equity incentive plan, which proposes authorizing approximately 5.145 million shares for equity-based compensation—equivalent to roughly 7.2% additional dilution. Previously, in June, Forward had proposed an all-stock acquisition at $1.55 per share, representing a roughly 20% premium over the previous closing price; however, SkyAI’s board declined the offer. (Source: Foresight News)