Director turnover reshapes FST Corp (NASDAQ: KBSX) board roles

Rhea-AI Filing Summary

FST Corp. reports a change in its board leadership. On April 16, 2026, independent director Richard Qi Li resigned from the Board of Directors, and the company states he reported no disagreements regarding operations, policies, or practices.

The Board simultaneously appointed Houston Li as a new independent director to fill the vacancy. He brings investment banking and capital markets experience from roles at CBC Securities, Chenghe Acquisition III Co., Campbell Lutyens, and Morgan Stanley, and holds a Brown University degree in Applied Mathematics-Economics.

Existing independent director Huoy-Ming Yeh was appointed to the Audit Committee and the Nominating and Corporate Governance Committee, replacing Richard Li on both. The company entered into its standard-form indemnity agreement with Houston Li and confirms there are no related party transactions requiring disclosure under Item 7.B of Form 20-F.

Key Figures

Director change date: April 16, 2026

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Director change date April 16, 2026 Effective date of Richard Qi Li’s resignation and Houston Li’s appointment

Key Terms

independent director, Audit Committee, Nominating and Corporate Governance Committee, indemnity agreement, +2 more

6 terms

independent director financial

"Mr. Richard Qi Li (“Mr. Richard Li”), an independent director on the Board"

An independent director is a member of a company's board of directors who is not involved in the company's day-to-day operations and has no significant relationships with the company that could influence their judgment. Their role is to provide unbiased oversight and ensure the company is managed in the best interests of all shareholders. This helps build trust and confidence among investors by promoting transparency and accountability.

Audit Committee financial

"appointed the current independent director ... to serve as a member of the Company’s ... Audit Committee"

A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.

Nominating and Corporate Governance Committee financial

"serve as a member of the Company’s ... Nominating and Corporate Governance Committee"

A nominating and corporate governance committee is a group within a company's board of directors responsible for selecting and recommending individuals to serve as company leaders, such as directors or executives. They also develop and oversee policies to ensure the company is run fairly, ethically, and transparently. This committee matters to investors because it helps ensure the company is well-managed and guided by qualified, responsible leadership.

indemnity agreement financial

"The Company also entered into an indemnity agreement with Mr. Li"

related party transactions financial

"there are no related party transactions between Mr. Li and the Company"

Transactions between a company and people or entities that have close ties to it—such as executives, board members, major shareholders, family members, or related companies—where the parties are not independent. These deals matter to investors because they can create conflicts of interest or hide favorable terms that distort a company’s true profits and risks; think of it like a business buying or selling to a family member instead of using the open market, which can lead to biased prices or undisclosed obligations.

Form 20-F regulatory

"that would require disclosure under Item 7.B of Form 20-F"

Form 20-F is the standardized annual disclosure that non-U.S. companies must file with the U.S. securities regulator when their shares are traded in the U.S.; it contains audited financial statements, a plain-language description of the business, management discussion, governance details and key risk factors. It matters to investors because it provides a consistent, comparable company “report card” and rulebook, helping buyers assess financial health, governance and risks before investing.

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2026

Commission File Number: 001-42475

FST Corp.

(Registrant’s Name)

No. 3, Gongye 1st Rd., Minxiong Township

Chiayi County 621018, Taiwan

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Resignation and Appointment of Directors and Committee Member

On April 16, 2026, Mr. Richard Qi Li (“Mr. Richard Li”), an independent director on the Board of Directors of FST Corp. (the “Company”), notified the Company of his resignation from the Board of Directors, effective immediately. Mr. Richard Li did not advise the Company of any disagreement with the Company on any matter relating to its operations, policies, or practices.

On the same day, the Board of Directors of the Company appointed Mr. Houston Li (“Mr. Li”) as a member of the Board of Directors, effective immediately. Mr. Li fills the independent director vacancy created by the resignation of Mr. Richard Li on the Board of Directors of the Company.

Mr. Li serves as a Vice President at CBC Securities, a FINRA-member broker-dealer in the United States, and as the Chief Operating Officer of Chenghe Acquisition III Co., a special purpose acquisition company listed on Nasdaq (NASDAQ: CHEC). His financial experience spans Asia and the United States, where he is qualified with FINRA as an Investment Banking Representative and a General Securities Representative. Previously, Mr. Li advised on infrastructure and private credit fundraises for the fund placement business of Campbell Lutyens, and worked in the Investment Banking Department of Morgan Stanley. He graduated from Brown University with a Bachelor of Science in Applied Mathematics-Economics.

In addition, on the same day, the Board of Directors of the Company appointed the current independent director of the Company, Ms. Huoy-Ming Yeh, to serve as a member of the Company’s Board of Director’s Audit Committee and Nominating and Corporate Governance Committee, respectively, replacing Mr. Richard Li on such committees.

The Company also entered into an indemnity agreement with Mr. Li in the same form as its standard form of indemnification agreement with its other directors.

The Company confirms that there are no related party transactions between Mr. Li and the Company that would require disclosure under Item 7.B of Form 20-F. Any compensation arrangements in connection with Mr. Li’s appointment will be disclosed, if applicable, in a subsequent filing.

The Company will update its internal records accordingly. 

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SIGNATURE

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.

	FST Corp.
Date: April 23, 2026	By:	/s/ David Chuang
	Name:	David Chuang
	Title:	Chief Executive Officer and Chairman of the Board

2

FAQ

What board changes did FST Corp. (KBSX) announce in the April 2026 6-K?

FST Corp. reported that independent director Richard Qi Li resigned on April 16, 2026, and was immediately replaced by new independent director Houston Li. The company also reassigned committee roles, moving independent director Huoy-Ming Yeh onto the Audit and Nominating and Corporate Governance Committees.

Why did FST Corp. director Richard Qi Li resign from the board?

Richard Qi Li resigned from FST Corp.’s Board of Directors effective April 16, 2026. The company states he did not report any disagreement with its operations, policies, or practices, indicating the departure is presented as a non-dispute-related governance change rather than a conflict-driven resignation.

Who is the new independent director appointed to FST Corp.’s board?

FST Corp. appointed Houston Li as an independent director on April 16, 2026. He serves as a Vice President at CBC Securities and Chief Operating Officer of Chenghe Acquisition III Co., and previously worked at Campbell Lutyens and Morgan Stanley, with a Brown University applied mathematics-economics degree.

What committee changes did FST Corp. make following the director resignation?

FST Corp. moved current independent director Huoy-Ming Yeh onto the Board’s Audit Committee and Nominating and Corporate Governance Committee. She replaces departing director Richard Qi Li on both committees, helping maintain independent director representation across these key oversight and governance bodies after the board transition.

Does FST Corp. report any related party transactions with new director Houston Li?

FST Corp. confirms there are no related party transactions between the company and new independent director Houston Li requiring disclosure under Item 7.B of Form 20-F. This statement emphasizes that his appointment does not involve disclosable dealings that could raise related-party or conflict-of-interest concerns under that reporting standard.

What agreement and compensation details apply to FST Corp.’s new director?

FST Corp. entered into an indemnity agreement with new director Houston Li using its standard form for directors. Any compensation arrangements connected to his appointment were not detailed here; the company states such information will be disclosed, if applicable, in a subsequent filing once available.