1-for-25 reverse split reshapes Advantage Solutions (NASDAQ: ADV) shares

Rhea-AI Filing Summary

Advantage Solutions Inc. has implemented a 1-for-25 reverse stock split of its Class A common stock. Effective at 5:00 p.m. Eastern Time on March 26, 2026, every 25 existing shares were automatically reclassified into one new share.

The company will adjust outstanding equity awards, plan share reserves and related exercise prices proportionately. No fractional shares will be issued; instead, affected stockholders will receive cash based on the split-adjusted Nasdaq closing price on March 26, 2026. Trading on the Nasdaq Global Select Market is expected to begin on a split-adjusted basis on March 27, 2026 under the symbol ADV. The par value and fundamental characteristics of the common stock remain unchanged.

Insights

Equity & Capital Structure Analyst

Advantage consolidates its share count 25:1 without changing total equity.

Advantage Solutions has executed a 1-for-25 reverse stock split, which reduces the number of outstanding common shares while keeping each investor’s proportional ownership and the stock’s par value the same. All equity awards and plan reserves are being adjusted on the same 25:1 basis.

No fractional shares are being issued; instead, small residual positions are cashed out using the split-adjusted Nasdaq closing price on March 26, 2026. The company notes risks related to meeting Nasdaq listing requirements in its broader risk disclosures, which helps explain why capital structure actions like this matter for market listing status.

Split-adjusted trading is expected to begin on March 27, 2026 under the existing symbol ADV. Subsequent filings may provide more detail on any longer-term effects of the new share structure and related equity incentive plan adjustments.

8-K Event Classification

3 items: 3.03, 5.03, 9.01

3 items

Item 3.03 Material Modification to Rights of Security Holders Securities

A change was made that materially affects the rights of existing shareholders (e.g., dividend rights, voting rights).

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year Governance

The company amended its charter documents, bylaws, or changed its fiscal year.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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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): March 26, 2026

Advantage Solutions Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-38990		83-4629508
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

7676 Forsyth Boulevard, Fifth Floor
St. Louis, Missouri				63105
(Address of principal executive offices)				(Zip Code)

(314) 655-9333

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

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:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A common stock, $0.0001 par value per share		ADV		NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (Sec.230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (Sec.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 3.03. Material Modification to Rights of Security Holders.

To the extent required by Item 3.03 of Form 8-K, the information set forth under Item 5.03 of this Current Report on Form 8-K is incorporated by reference into this Item 3.03.

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On March 26, 2026, Advantage Solutions Inc. (the “Company”) effected a 1-for-25 reverse stock split of its Class A common stock $0.0001 (the “Common Stock”) (the “Reverse Stock Split”). As previously disclosed, at its special meeting of stockholders held on March 16, 2026 (the “Special Meeting”), the stockholders of the Company approved a proposal to authorize the Company’s Board of Directors (the “Board”), in its discretion following the Special Meeting, to amend the Company’s Third Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) to effect a reverse stock split of all of the outstanding shares of the Common Stock, par value $0.0001 per share, in a ratio within the range from each whole number between and including ten (10) and twenty-five (25), with a corresponding reduction in authorized shares of Common Stock and authorized but unissued shares of preferred stock, no par value. On March 16, 2026, following the Special Meeting, the Board approved the Reverse Stock Split at a ratio of 1-for-25. On March 26, 2026, the Company filed with the Secretary of State of the State of Delaware a certificate of amendment (the “Certificate of Amendment”) to amend the Certificate of Incorporation to effect the Reverse Stock Split. The Reverse Stock Split has become effective at 5:00 p.m., Eastern Time, on March 26, 2026.

As a result of the Reverse Stock Split, every 25 shares of Common Stock issued or outstanding were automatically reclassified into one new share of Common Stock, subject to the treatment of fractional shares as described below, without any action on the part of the holders. Proportionate adjustments will be made to the number of shares underlying the Company’s outstanding equity awards, as applicable, as well as to the number of shares issuable under the Company’s equity incentive plans and certain existing agreements, as well as the exercise price, as applicable. The Common Stock issued pursuant to the Reverse Stock Split remain fully paid and non-assessable. The Reverse Stock Split did not affect the par value of the Common Stock.

No fractional shares will be issued in connection with the Reverse Stock Split. Stockholders who would otherwise be entitled to receive fractional shares as a result of the Reverse Stock Split will be entitled to a cash payment in lieu thereof at a price equal to the fraction to which the stockholder would otherwise be entitled multiplied by the closing sales price per share of the Common Stock (as adjusted to give effect to the Reverse Stock Split) on the Nasdaq Global Select Market on March 26, 2026, the last trading day immediately preceding the effective time of the Reverse Stock Split.

Trading of the Common Stock on the Nasdaq Global Select Market is expected to commence on a split-adjusted basis when the market opens on March 27, 2026, under the existing trading symbol “ADV.” The new CUSIP number for the Common Stock following the Reverse Stock Split is 00791N 201.

The foregoing description of the Certificate of Amendment is qualified in its entirety by reference to the full text of the Certificate of Amendment, a copy of which is filed as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements, including within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this Current Report on Form 8-K that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the Reverse Stock Split process and expected trading on a split-adjusted basis. In some cases, you can identify forward-looking statements by terms such as “aim,” “anticipate,” “approach,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “goal,” “intend,” “look,” “may,” “mission,” “plan,” “possible,” “potential,” “predict,” “project,” “pursue,” “should,” “target,” “will,” “would,” or the negative thereof and similar words and expressions. These forward-looking statements are based on management’s current expectations. These

statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to our failure to meet the continued listing requirements of Nasdaq could result in a delisting of our Common Stock and other risks and uncertainties discussed under the caption “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 3, 2026, as such factors may be updated from time to time in our filings with the SEC. Any such forward-looking statements represent management’s estimates as of the date of this Current Report on Form 8-K. While we may elect to update such forward-looking statements at some point in the future, except as required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description
3.1		Certificate of Amendment to the Third Amended and Restated Certificate of Incorporation of Advantage Solutions Inc., dated March 26, 2026.
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 thereunto duly authorized.

Date: March 26, 2026						ADVANTAGE SOLUTIONS INC.
				By:		/s/ Christopher Growe
						Christopher Growe
						Chief Financial Officer

FAQ

What corporate action did Advantage Solutions (ADV) take on its common stock?

Advantage Solutions implemented a 1-for-25 reverse stock split of its Class A common stock. Effective March 26, 2026, every 25 existing shares automatically converted into one new share, with no change to par value or overall proportional ownership for stockholders.

When does Advantage Solutions stock begin trading on a split-adjusted basis?

Split-adjusted trading for Advantage Solutions is expected to begin on March 27, 2026. After the 1-for-25 reverse stock split became effective at 5:00 p.m. Eastern on March 26, 2026, Nasdaq Global Select Market trading is scheduled to reflect the new share count the next trading day.

How are fractional shares handled in the Advantage Solutions reverse split?

Advantage Solutions will not issue fractional shares after the reverse split. Stockholders otherwise entitled to a fractional share receive cash instead, calculated as the fraction multiplied by the split-adjusted closing sales price on Nasdaq on March 26, 2026.

Did the Advantage Solutions reverse stock split change par value or stock rights?

The reverse stock split did not change the $0.0001 par value or basic rights of the common stock. Shares remain fully paid and non-assessable, with the primary change being the reduced number of outstanding shares following the 1-for-25 consolidation.

How does the reverse split affect Advantage Solutions equity awards and plans?

Advantage Solutions will make proportionate adjustments to outstanding equity awards and share-based plans. The number of shares underlying awards, shares issuable under equity incentive plans, and applicable exercise prices will all be modified to reflect the 1-for-25 reverse stock split ratio.

What approvals did Advantage Solutions obtain to effect the reverse stock split?

Stockholders approved authorizing the board to implement a reverse stock split, and the board set the 1-for-25 ratio. The company then filed a Certificate of Amendment in Delaware, which became effective March 26, 2026, formally implementing the change.

Filing Exhibits & Attachments

4 documents

Other Documents

• EX-3.1 EX-3.1 9.6 KB
• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 2.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 18.3 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.5 KB