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Norris Industries (NRIS) CEO contributes and cancels 1,000,000 preferred shares

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Norris Industries, Inc. reported that its Board of Directors accepted a contribution to capital from Chief Executive Officer Patrick Norris and his affiliates of the currently issued and outstanding 1,000,000 shares of preferred stock on February 27, 2026. These preferred shares will be cancelled and returned to the status of authorized but unissued preferred stock, simplifying the company’s capital structure by removing this block of outstanding preferred equity.

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Insights

Norris cancels 1,000,000 insider-held preferred shares, simplifying its equity structure.

The Board of Norris Industries approved a capital contribution whereby Patrick Norris and his affiliates transferred 1,000,000 outstanding preferred shares back to the company. The shares will be cancelled and classified as authorized but unissued preferred stock.

This move removes a full block of preferred equity from the outstanding capital stack, which can reduce complexity around preferences or potential dilution tied to that class. The filing does not provide additional terms or financial metrics, so the concrete impact on common shareholders depends on the original rights attached to these preferred shares.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
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): February 28, 2026

 

NORRIS INDUSTRIES, INC.

(Exact Name of Registrant as Specified in Charter)

 

Nevada   000-55695   46-5034746

(State or Other Jurisdiction

of Incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

102 Palo Pinto St., Suite B    
Weatherford, Texas   76086
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (855) 809-6900

 

 

 

(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 (see General Instruction A.2. below):

 

☐ 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))

 

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 8.01. Other Events

 

On February 27, 2026, the Board of Directors of Norris Industries, Inc. (“Company”), accepted the contribution to capital of the currently issued and outstanding 1,000,000 shares of preferred stock form Mr. Patrick Norris and his affiliates holding the shares. The shares of preferred stock being contributed to the Company will be cancelled and returned to the status of authorized but unissued shares of preferred stock.

 

 

 

 

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.

 

  Norris Industries, Inc.
   
Dated: March 4, 2026 /s/ Patrick Norris
  Patrick Norris, Chief Executive Officer

 

 

 

Source: View Original Filing on SEC EDGAR

FAQ

What capital change did Norris Industries (NRIS) disclose in this 8-K?

Norris Industries disclosed that its Board accepted a capital contribution of 1,000,000 outstanding preferred shares from CEO Patrick Norris and his affiliates. The company will cancel these shares and classify them as authorized but unissued preferred stock, simplifying its outstanding equity capitalization.

Who contributed the 1,000,000 preferred shares to Norris Industries (NRIS)?

The 1,000,000 preferred shares were contributed by Mr. Patrick Norris, the company’s Chief Executive Officer, and his affiliates who held the shares. The Board of Directors formally accepted this contribution to capital effective February 27, 2026, as described in the 8-K filing.

What happens to the 1,000,000 preferred shares contributed to Norris Industries (NRIS)?

The contributed 1,000,000 preferred shares will be cancelled and returned to the status of authorized but unissued preferred stock. This means the shares are no longer outstanding, though the company retains authorization to issue preferred stock in the future if it chooses.

When did Norris Industries (NRIS) approve the preferred stock contribution and cancellation?

The Board of Directors approved the contribution to capital of the 1,000,000 preferred shares on February 27, 2026. The related 8-K report was signed later by Chief Executive Officer Patrick Norris, documenting the decision and the resulting cancellation of the preferred shares.

Does the Norris Industries (NRIS) filing mention any change to common stock?

The filing focuses on the contribution and cancellation of 1,000,000 preferred shares held by Patrick Norris and affiliates. It states that these preferred shares will become authorized but unissued stock; it does not describe any direct change to the company’s common stock in this disclosure.

Where is Norris Industries (NRIS) headquartered according to this 8-K?

Norris Industries lists its principal executive offices at 102 Palo Pinto St., Suite B, Weatherford, Texas 76086. This address is provided alongside the company’s telephone number as part of the standard registrant information section in the 8-K filing.

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