Westport hit by trade ban after delayed 2025 filings

Rhea-AI Filing Summary

Westport Fuel Systems Inc. reports that the British Columbia Securities Commission has issued a temporary management cease trade order restricting trading in the company’s securities by its CEO and CFO after a previously disclosed cybersecurity incident delayed its 2025 year-end reporting. The company has missed the March 31, 2026 deadline for filing its audited financial statements, management’s discussion and analysis, CEO/CFO certifications, and annual information form for the year ended December 31, 2025. Westport is working with its auditors to assess the incident’s impact on financial reporting and internal controls and plans to complete any additional audit work, revise its annual documents if necessary, and file them as promptly as possible while providing bi-weekly status updates under National Policy 12-203.

Positive

• None.

Negative

• Delayed audited 2025 reporting and governance overhang: Westport missed the March 31, 2026 deadline for its 2025 audited financial statements and related annual filings after a cybersecurity incident, triggering a temporary management cease trade order that highlights financial reporting and internal control uncertainty.

Insights

Equity risk analyst

Cyberattack-linked delays and a management trade ban raise governance and reporting risk.

Westport Fuel Systems is under a temporary management cease trade order because its 2025 audited financials and related annual filings were not submitted by the March 31, 2026 deadline after a cybersecurity incident.

The order only restricts the CEO and CFO from trading, leaving other investors unaffected, but it underscores uncertainty around financial reporting and potential deficiencies in internal controls over financial reporting being evaluated with auditors.

Until the company completes any additional audit work, finalizes possible revisions, and files its year-end documents, the lack of current audited information and ongoing cyber-related review represent a meaningful overhang for investors focused on transparency and governance.

Key Figures

Annual filings deadline: March 31, 2026 Fiscal year-end: December 31, 2025 Status update frequency: Bi-weekly

3 metrics

Annual filings deadline March 31, 2026 Due date for 2025 audited financial statements and related annual filings under Canadian securities laws

Fiscal year-end December 31, 2025 Year covered by the delayed audited consolidated financial statements

Status update frequency Bi-weekly Company will issue news releases every two weeks under NP 12-203 until annual filings are made

Key Terms

Management Cease Trade Order, National Policy 12-203, internal controls over financial reporting, cybersecurity incident, +1 more

5 terms

Management Cease Trade Order regulatory

"has issued a temporary management cease trade order (the “MCTO“)"

A management cease trade order is a temporary restriction that prevents a company’s directors and senior officers from buying or selling the company’s securities while important, undisclosed information is being handled or examined. It matters to investors because it signals potential material developments or regulatory reviews—think of it like a temporary lock on a building while inspectors investigate; the restriction reduces insider activity and can affect share liquidity and investor confidence until the issue is resolved.

National Policy 12-203 regulatory

"under National Policy 12-203 – Management Cease Trade Orders"

internal controls over financial reporting financial

"determine whether the Company's internal controls over financial reporting were deficient"

Internal controls over financial reporting are the policies, procedures and checks a company uses to make sure its accounting and financial statements are accurate, complete and free from significant error or fraud. They matter to investors because strong controls lower the risk of misleading results or surprise restatements—think of them as a quality checkpoint on a factory line that helps prevent costly defects that could damage a company’s value and reputation.

cybersecurity incident technical

"as a result of the cybersecurity incident previously announced by the Company on March 20, 2026"

A cybersecurity incident is an event where someone's computer systems or data are attacked or broken into without permission. It matters because it can lead to stolen information, financial loss, or disruptions in services, similar to a break-in at a store that damages property or steals valuable items.

audited consolidated financial statements financial

"audited consolidated financial statements for the fiscal year ended December 31, 2025"

A set of financial reports that combine a parent company and all its subsidiaries into one overall picture, examined and verified by an independent auditor. Think of it as a household budget that merges every family member’s accounts and is then checked by a neutral accountant; it gives investors a single, trustworthy view of the group’s assets, debts, income and cash flow. That independent check matters because it reduces the chance of hidden problems and helps investors compare companies on a level playing field.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Why did Westport Fuel Systems (WPRT) receive a management cease trade order?

Westport received a temporary management cease trade order because a cybersecurity incident delayed its 2025 audited financial statements and other annual filings, which were due March 31, 2026. The order restricts trading only by the CEO and CFO, not by other shareholders.

Does the Westport (WPRT) cease trade order affect regular shareholders?

The order applies only to Westport’s CEO and CFO, preventing them from trading the company’s securities. Other shareholders and investors are not restricted and can continue trading normally while the company works to complete and file its delayed annual reports.

Which Westport (WPRT) filings are delayed due to the cybersecurity incident?

The delayed filings are Westport’s audited consolidated financial statements for the year ended December 31, 2025, the related management’s discussion and analysis, CEO and CFO certificates, and its annual information form on Form 20-F, all of which were required by March 31, 2026.

How is Westport (WPRT) responding to the cybersecurity incident’s impact on reporting?

Westport is working with its auditors to assess the incident’s effect on documents and data, determine whether internal controls over financial reporting were deficient, adjust audit procedures if needed, and complete any additional audit work before filing the revised annual documents.

How often will Westport (WPRT) update investors on the delayed filings?

Under National Policy 12-203, Westport plans to provide bi-weekly status updates by news release until all required annual filings are submitted. These regular updates aim to keep investors informed while the company and auditors complete their review and reporting work.

Are Westport’s (WPRT) operations affected by the cybersecurity incident and reporting delay?

The CEO stated that Westport’s core operations remain unaffected, with no disruption to manufacturing or customer deliveries. The main impact described relates to the integrity review of financial reporting and resulting delay in filing the company’s 2025 year-end reporting package.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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

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Accepted by SEC EDGAR 04/01/2026 - 07:05 PM EDT Learn about SEC filing dates

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: 001-34152

WESTPORT FUEL SYSTEMS INC.
(Translation of registrant's name into English)

1691 West 75th Avenue, Vancouver, British Columbia, Canada, V6P 6P2
(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 [   ]

INCORPORATION BY REFERENCE

Exhibit 99.1 to this Form 6-K is hereby incorporated by reference into the Company's Registration Statement on Form F-3 (File No.333-289669) and the Registration Statement on Form S-8, as amended (Registration No.333-248912).

On April 1, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

(c) Exhibit 99.1. Press release dated April 1, 2026

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, thereunto duly authorized.

		WESTPORT FUEL SYSTEMS INC.
		(Registrant)
Date: April 1, 2026		/s/ Elizabeth Owens
		Elizabeth Owens
		Chief Financial Officer

EXHIBIT 99.1

Westport Announces Issuance of Management Cease Trade Order

VANCOUVER, British Columbia, April 01, 2026 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport" or the “Company”) (TSX:WPRT / Nasdaq: WPRT) today announced that the British Columbia Securities Commission, the Company’s principal regulator, has issued a temporary management cease trade order (the “MCTO“) against the Company under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“). The MCTO restricts trading in the Company’s securities by the CEO and CFO, but does not restrict trading by other shareholders or investors.

“On March 20, 2026, we announced that we had recently identified unauthorized access to certain internal systems and acted immediately to contain the incident, engaging cybersecurity experts and strengthening our safeguards,” said Dan Sceli, Chief Executive Officer of Westport. “Importantly, our core operations remain unaffected, with no disruption to manufacturing or customer delivery. As we complete a thorough review to ensure the integrity of our financial reporting, we remain focused on transparency. Notwithstanding this incident, we continue to execute on our strategic priorities and build on the progress achieved over the past year.”

The Company voluntarily applied for the MCTO in connection with the Company’s delayed filing of its: (i) audited consolidated financial statements for the fiscal year ended December 31, 2025 (the “Annual Financial Statements“), (ii) management’s discussion and analysis relating to the Annual Financial Statements, (iii) CEO and CFO certificates relating to the Annual Financial Statements and (iv) annual information form on Form 20-F (collectively, (together, the “Annual Filings“), as a result of the cybersecurity incident previously announced by the Company on March 20, 2026. Each of the Annual Filings were required to be filed by March 31, 2026 under Canadian securities laws.

In advance of filing the Company’s Annual Documents, Westport is working closely with its auditors to (i) assess and determine the scope of the cybersecurity incident with respect to the documents and data relevant to the Annual Documents; (ii) determine whether the Company's internal controls over financial reporting were deficient in connection with the incident; (iii) if so, determine whether such deficiency requires a change to the scope of the auditors' audit procedures in respect of the audited annual financial statements; and (iv) complete any additional required audit activity and any revisions to the Annual Documents, if required. Westport plans to file the required disclosure as promptly as possible.

Westport will follow the alternative information guidelines under NP 12-203, and will provide bi-weekly status updates regarding the delayed filings by way of news release until the Annual Filings are filed.

About Westport

Westport is a technology and innovation company connecting synergistic technologies to power a cleaner tomorrow. As a leading supplier of affordable, alternative fuel, low-emissions transportation technologies, we design, manufacture, and supply advanced components and systems that enable the transition from traditional fuels to cleaner energy solutions.

Our proven technologies support a wide range of clean fuels – including natural gas, renewable natural gas, and hydrogen – empowering OEMs and commercial transportation industries to meet performance demands, regulatory requirements, and climate targets in a cost-effective way. With decades of expertise and a commitment to engineering excellence, Westport is helping our partners achieve sustainability goals—without compromising performance or cost-efficiency – making clean, scalable transport solutions a reality.

Westport is headquartered in Vancouver, Canada. For more information, visit www.westport.com.

Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements, including statements regarding the Company's ability to complete and file the Annual Filings, the terms of the MCTO and the Company's compliance with the reporting requirements of NP 12-203. These forward-looking statements are neither promises nor guarantees but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause actual results to differ materially from those expressed or implied. These risks, uncertainties and assumptions include those related to the cybersecurity incident and the Company's ability to complete and file the Annual Filings, general economic conditions of and access to the capital and debt markets, solvency, governmental policies and regulation, foreign exchange rate fluctuations, supply-chain factors and other risks and assumptions described in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date of publication. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward looking statements except as required by National Instrument 51-102. The contents of any website, RSS feed or twitter account referenced in this press release are not incorporated by reference herein.

Contact Information

Westport Investor Relations
T: +1 604-718-2046

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 PRESS RELEASE 6.7 KB