One World Products removes board director
Accepted by SEC EDGAR
Learn about SEC filing dates
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
One World Products, Inc. reports that on July 23, 2026, Isiah Lord Thomas III, who holds a majority of the voting power of the company’s outstanding capital stock, acted by written consent under Nevada law to remove Dr. Kenneth L. Perego, II from the Board of Directors, effective immediately.
In connection with this removal, the total number of directors was reduced by two, from seven to five, eliminating both the vacancy created by Dr. Perego’s removal and a pre-existing vacancy so that the authorized number of directors now equals the number of directors currently in office.
Positive
- None.
Negative
- Director removed and board reduced: On July 23, 2026, Dr. Kenneth L. Perego, II was removed from the Board of Directors, and the board size was cut from seven to five members, consolidating governance under a smaller group of directors.
8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Board size before change: 7 directors
Board size after change: 5 directors
2 metrics
Board size before change
7 directors
Number of directors constituting the entire Board before July 23, 2026 action
Board size after change
5 directors
Number of directors constituting the entire Board after removal and vacancy elimination
Key Terms
written consent in lieu of a meeting, Nevada Revised Statutes, emerging growth company, pre-commencement communications
4 terms
written consent in lieu of a meeting regulatory
"acting by written consent in lieu of a meeting in accordance"
A written consent in lieu of a meeting is a signed document by a company’s board members or shareholders that approves a specific corporate action without convening a formal meeting. Like signing a group text instead of gathering in person, it speeds decisions and lowers costs, but it also concentrates voting power and limits public debate, so investors watch it for how quickly actions occur and how transparently votes are recorded.
Nevada Revised Statutes regulatory
"in accordance with Sections 78.320 and 78.335 of the Nevada Revised Statutes"
The Nevada Revised Statutes are the official compilation of laws enacted by Nevada’s legislature that govern business activities, corporate structure, licensing, taxation and legal procedures in the state. Think of it as Nevada’s rulebook that companies and regulators must follow; investors watch it because changes or specific statutes can affect a company’s legal obligations, tax position, licensing status and risk exposure, which in turn can influence valuation and investment decisions.
emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
pre-commencement communications regulatory
"Pre-commencement communications pursuant to Rule 14d-2(b)"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What governance change did One World Products (OWPC) disclose on July 23, 2026?
One World Products disclosed that on July 23, 2026, Dr. Kenneth L. Perego, II was removed from its Board of Directors by written consent of the majority stockholder, and the total number of directors was reduced from seven to five.
Who removed Dr. Kenneth L. Perego, II from the One World Products (OWPC) board?
The removal was executed by Isiah Lord Thomas III, who holds a majority of the voting power of One World Products’ outstanding capital stock, acting by written consent in lieu of a meeting under applicable Nevada Revised Statutes.
How did the board size of One World Products (OWPC) change after the director removal?
Following the removal of Dr. Perego, the number of directors was decreased by two, from seven to five, eliminating both the vacancy created by his removal and a pre-existing vacancy so that authorized and sitting directors are now aligned.
What legal mechanism was used to change the One World Products (OWPC) board composition?
The change was made by written consent in lieu of a meeting by the majority voting stockholder, in accordance with Sections 78.320 and 78.335 of the Nevada Revised Statutes, without the need for a formal stockholder meeting.
Does One World Products (OWPC) have its common stock listed on a national securities exchange?
No. The company states that its common stock is quoted on the OTC Markets under the symbol “OWPC” and is not registered on any national securities exchange, meaning it trades over the counter rather than on a major exchange.
AI-generated analysis. How Rhea-AI works. Not financial advice.
