[6-K] SMX (Security Matters) Public Ltd Co Current Report (Foreign Issuer)
Rhea-AI Filing Summary
SMX (Security Matters) Public Limited Company reported that it further amended its 2022 Incentive Equity Plan, increasing the number of authorized Ordinary Shares under the plan from approximately 1,139,275 to 10,785,000. Relying on home country corporate governance practices permitted under Nasdaq Rule 5615(a)(3), this amendment was approved without a shareholder vote. Following the amendment, the company granted 6,935,000 restricted stock units and 3,850,000 stock options to executive officers, directors, and certain consultants, employees, and advisors.
The company’s Annual General Meeting of Shareholders was convened on November 24, 2025 but adjourned for one week due to lack of quorum and will be reconvened on December 1, 2025. At the reconvened meeting, any number of shareholders present in person or by proxy will constitute a quorum. SMX also announced it will present its Physical-to-Digital Link technology at the 2025 DMCC Precious Metals Conference.
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Insights
SMX sharply expands its equity incentive pool and confirms an adjourned shareholder meeting.
SMX increased the authorized Ordinary Shares under its 2022 Incentive Equity Plan from approximately 1,139,275 to 10,785,000. It then granted 6,935,000 restricted stock units and 3,850,000 stock options to executives, directors and various service providers. This points to a significant reliance on equity-based compensation, which can align stakeholders with long-term performance but may dilute existing holders depending on total shares outstanding.
The amendment was approved without shareholder consent by using home country practices allowed under Nasdaq Rule 5615(a)(3). That approach is permitted, yet it shifts the balance of control toward the board and management on compensation matters. The Annual General Meeting was adjourned due to lack of quorum and will reconvene on December 1, 2025, where any number of shareholders present or represented will constitute a quorum, making it easier to complete the scheduled agenda.
FAQ
What change did SMX (SMX) make to its 2022 Incentive Equity Plan?
SMX further amended its 2022 Incentive Equity Plan to increase the number of authorized Ordinary Shares under the plan from approximately 1,139,275 to 10,785,000.
Did SMX shareholders approve the latest amendment to the Incentive Equity Plan?
No. As a foreign private issuer, SMX relied on home country corporate governance practices permitted under Nasdaq Rule 5615(a)(3) and approved the amendment without stockholder approval.
How many equity awards did SMX grant following the plan amendment?
After the amendment, SMX granted an aggregate of 6,935,000 restricted stock units and 3,850,000 stock options to its executive officers, directors, and certain consultants, employees, and advisors.
What happened at SMX’s November 2025 Annual General Meeting of Shareholders?
The Annual General Meeting convened on November 24, 2025 but was adjourned for one week due to a lack of quorum. It will be reconvened on December 1, 2025 at the same time and place.
What quorum rules will apply at SMX’s reconvened Annual General Meeting?
If a quorum is not present at the reconvened meeting, any number of shareholders who are present in person or by proxy, or who have delivered a proxy card, will constitute a quorum and may deliberate and resolve the meeting’s matters.
What conference presentation did SMX announce in this 6-K filing?
SMX announced it will showcase its Physical-to-Digital Link technology in a presentation titled “From Mine to Market: The Physical-to-Digital Link Powering Transparency in Precious Metals” at the 2025 DMCC Precious Metals Conference.
What exhibit was included with SMX’s November 2025 Form 6-K?
The filing includes Exhibit 99.1, a press release dated November 25, 2025 titled “SMX to Present at the 2025 DMCC Precious Metals Conference: Setting a New Global Standard for Transparency, Authenticity, and Tokenised Gold.”