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MDJM (NASDAQ: UOKA) CEO granted 200,000 Class B shares, gains 89.58% votes

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

MDJM LTD adopted the MDJM LTD 2026 Equity Incentive Plan to help retain key personnel. The plan allows up to 200,000 Class A ordinary shares and 200,000 Class B ordinary shares to be issued. Under this plan, the board granted and issued 200,000 Class B ordinary shares, par value US$0.875 per share, to Chief Executive Officer and Chairman Siping Xu for services rendered. Following this grant, Mr. Xu directly or indirectly controls approximately 89.58% of the aggregate voting power of MDJM’s issued and outstanding ordinary shares, giving him effective control over shareholder votes.

Positive

  • None.

Negative

  • Major concentration of control: After receiving 200,000 Class B shares under the 2026 Equity Incentive Plan, CEO and Chairman Siping Xu controls approximately 89.58% of MDJM’s voting power, significantly limiting the practical influence of minority shareholders.

Insights

MDJM’s new equity plan concentrates voting control with its CEO.

The company adopted a 2026 Equity Incentive Plan covering up to 200,000 Class A and 200,000 Class B ordinary shares. On the same date, the board issued 200,000 Class B shares to CEO and Chairman Siping Xu as compensation for services.

This grant increases Mr. Xu’s voting position to about 89.58% of the aggregate voting power of outstanding ordinary shares. Such a high concentration of control means he can effectively determine outcomes of shareholder votes, which can reduce minority shareholders’ influence over major corporate decisions.

Future company actions requiring shareholder approval will largely depend on Mr. Xu’s decisions, given his control level. Subsequent filings may provide more detail on how the plan is used for other employees or directors beyond this initial grant.

Plan Class A capacity 200,000 Class A ordinary shares Maximum aggregate number issuable under 2026 Equity Incentive Plan
Plan Class B capacity 200,000 Class B ordinary shares Maximum aggregate number issuable under 2026 Equity Incentive Plan
CEO grant 200,000 Class B ordinary shares Shares issued to CEO and Chairman Siping Xu under the plan
Par value per share US$0.875 per share Par value of the Class B ordinary shares issued to CEO
CEO voting control 89.58% of aggregate voting power Directly or indirectly controlled after Class B share issuance
Equity Incentive Plan financial
"adopted the MDJM LTD 2026 Equity Incentive Plan (the “Plan”) to retain the best available personnel"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
Class A ordinary shares financial
"the maximum aggregate number of shares that may be issued under the Plan is 200,000 Class A ordinary shares"
Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.
Class B ordinary shares financial
"200,000 Class B ordinary shares of the Company, par value US$0.875 per share (the “Shares”)"
Class B ordinary shares are a type of ownership stake in a company that typically come with different voting rights or privileges compared to other share classes. For investors, they represent a way to hold part of the company’s value and influence its decisions, often with fewer voting rights than Class A shares. Understanding these shares helps investors assess their level of control and potential returns within a company.
voting power financial
"Siping Xu now directly or indirectly controls approximately 89.58% of the aggregate voting power"
Voting power is the ability shareholders have to influence a company's major decisions—like electing the board, approving mergers, or changing corporate rules—based on the voting rights attached to the shares they hold. For investors it matters because greater voting power is like holding more keys to a building: it gives you a stronger say over management choices and the company’s strategy, which can affect future value and risk.
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 May 2026

 

Commission File Number: 001-38768

 

MDJM LTD

 

Fernie Castle, Letham

Cupar, Fife, KY15 7RU
United Kingdom
(Address of principal executive office)

 

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

 

Form 20-F x   Form 40-F ¨

 

 

 

 

 

 

Adoption of Equity Incentive Plan and Share Issuance

 

On April 30, 2026, the board of directors (the “Board”) and the compensation committee of the board of directors (the “Compensation Committee”) of MDJM LTD (the “Company”) adopted the MDJM LTD 2026 Equity Incentive Plan (the “Plan”) to retain the best available personnel for positions of responsibility with the Company. Subject to adjustment as provided in the Plan, the maximum aggregate number of shares that may be issued under the Plan is 200,000 Class A ordinary shares and 200,000 Class B ordinary shares. The foregoing description of the Plan is not complete and is qualified in its entirety by reference to the full text of the Plan, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

 

Pursuant to the Plan, on April 30, 2026, the Board and the Compensation Committee of the Company granted and the Company issued an aggregate of 200,000 Class B ordinary shares of the Company, par value US$0.875 per share (the “Shares”), to Mr. Siping Xu, the Chief Executive Officer and the Chairman of the Board of Directors of the Company, for his service rendered to the Company.

 

As a result of the issuance of the Shares, Mr. Siping Xu now directly or indirectly controls approximately 89.58% of the aggregate voting power of the issued and outstanding ordinary shares of the Company.

 

Exhibits

 

Exhibit No.   Description
10.1   MDJM LTD 2026 Equity Incentive Plan

 

 

 

 

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.

 

  MDJM LTD
   
Date: May 4, 2026 By: /s/ Siping Xu
  Name: Siping Xu
  Title: Chairman of the Board of Directors

 

 

Source: View Original Filing on SEC EDGAR

FAQ

What did MDJM LTD (UOKA) announce in its May 2026 Form 6-K?

MDJM LTD reported adoption of its 2026 Equity Incentive Plan and an initial share grant. The company issued 200,000 Class B ordinary shares to CEO and Chairman Siping Xu as compensation, significantly increasing his voting control over the company’s outstanding ordinary shares.

How many shares can be issued under the MDJM LTD 2026 Equity Incentive Plan?

The MDJM LTD 2026 Equity Incentive Plan authorizes up to 200,000 Class A ordinary shares and 200,000 Class B ordinary shares. These limits represent the maximum aggregate numbers that may be issued under the plan, subject to adjustment as provided in the plan’s terms.

What equity award did MDJM LTD (UOKA) grant to CEO Siping Xu?

Under the 2026 Equity Incentive Plan, MDJM LTD granted and issued 200,000 Class B ordinary shares to CEO and Chairman Siping Xu. The shares carry a par value of US$0.875 each and were awarded for services rendered to the company, according to the filing.

How much voting power does MDJM LTD’s CEO now control?

Following the issuance of 200,000 Class B ordinary shares, CEO and Chairman Siping Xu directly or indirectly controls approximately 89.58% of MDJM LTD’s aggregate voting power. This level of control effectively allows him to determine outcomes of shareholder votes on most matters.

Why did MDJM LTD (UOKA) adopt the 2026 Equity Incentive Plan?

MDJM LTD adopted the 2026 Equity Incentive Plan to retain the best available personnel for positions of responsibility. The plan provides a framework for granting equity awards, including Class A and Class B ordinary shares, to key individuals serving the company.

Filing Exhibits & Attachments

1 document

Agreements & Contracts