Form 8-K

8-K — Beneficient

Accession: 0001493152-26-049972

Filed: 2026-11-04

Period: 2026-10-29

CIK: 0001775734

SIC: 6199 (FINANCE SERVICES)

Item: Submission of Matters to a Vote of Security Holders

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

WASHINGTON,

DC 20549

FORM

8-K

CURRENT

REPORT

Pursuant

to Section 13 or 15(d)

the Securities Exchange Act of 1934

Date

of report (Date of earliest event reported): October 29, 2026

Beneficient

(Exact

Name of Registrant as Specified in Charter)

Nevada

001-41715

72-1573705

(State

or Other Jurisdiction

Incorporation)

(Commission

File

Number)

(I.R.S.

Employer

Identification

No.)

325

North St. Paul Street, Suite 4850

Dallas,

Texas 75201

(Address

of Principal Executive Offices, and Zip Code)

(214)

445-4700

Registrant’s

Telephone Number, Including Area Code

N/A

(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

communication 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))

Securities

registered pursuant to Section 12(b) of the Act:

Title

of each class

Trading

Symbol(s)

Name

of each exchange

which registered

of Class A common stock, par value $0.001 per share

BENF

Nasdaq

Stock Market LLC

Warrants,

each whole warrant exercisable for one share of Class A common stock, par value $0.001 per share, and one share of Series A convertible

preferred stock, par value $0.001 per share

BENFW

Nasdaq

Stock Market LLC

Indicate

by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405

of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).

Emerging

growth company ☒

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 5.07

Submission

of Matters to a Vote of Security Holders.

October 29, 2026, Beneficient (the “Company”) held a Special Meeting of Stockholders (the “Meeting”). Holders

of shares of the Company’s Class A common stock, $0.001 par value per share (the “Class A Common Stock”), and of the

Company’s Class B common stock, $0.001 par value per share (the “Class B Common Stock,” and together with the Class

A Common Stock, the “Common Stock”), representing a total of 13,985,852 shares were present or represented by proxy

at the Meeting, representing approximately 74.0% of the Company’s total voting power as of the September 24, 2026 record date for

the Meeting (the “Record Date”). Each share of Class A Common Stock was entitled to one vote per share, and each share of

Class B Common Stock was entitled to ten votes per share.

The

following are the voting results for the proposals considered and voted upon at the Meeting, each of which was described in the Company’s

Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on October 19, 2026 (the “Proxy Statement”).

Proposal

1: To approve, for purposes of Nasdaq Listing Rule 5635(d), the issuance of shares of the Company’s Class A Common Stock to YA

II PN, Ltd. (“Yorkville”) pursuant to the Amended and Restated Standby Equity Purchase Agreement, dated June 26, 2026 (the

“A&R SEPA”), and the convertible promissory notes in the original aggregate principal amount of $4.0 million issued thereunder

(the “Promissory Notes”), which shares may represent more than 20% of the Company’s Common Stock outstanding as of

the date of the A&R SEPA (“Proposal 1”).

described in the Proxy Statement, the 2,902,240 shares of Class A Common Stock issued to Yorkville pursuant to the A&R SEPA and upon

conversion of the Promissory Notes prior to the Record Date (the “Yorkville Shares”) were not entitled to vote on Proposal

1. The votes reported below include all of the Yorkville Shares. Excluding the Yorkville Shares, Proposal 1 received 11,017,901 votes

for and 328,427 votes against.

Votes

Cast For

Votes

Cast Against

Abstentions

13,920,141

328,427

5,061

Proposal

2: To approve an adjournment of the Meeting, to a later date or dates, if necessary or appropriate, to permit further solicitation and

vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of Proposal 1 (“Proposal

2”).

Votes

Cast For

Votes

Cast Against

Abstentions

13,944,503

297,458

11,668

Based

on the foregoing votes, both Proposal 1 and Proposal 2 were approved. Although Proposal 2 was approved, adjournment of the Meeting was

not necessary because there were sufficient votes at the time of the Meeting to approve Proposal 1. No other matters were submitted to

or voted on by the Company’s stockholders at the Meeting.

the Meeting, a representative of Beneficient Holdings Inc. (“BHI”), the holder of approximately 92.6% of the outstanding

Class B Common Stock, delivered a letter from BHI’s purported counsel challenging, among other things, the validity of the shares

of Class A Common Stock issued in October 2025 upon the exchange of certain Preferred Series A Subclass 1 Unit Accounts of Beneficient

Company Holdings, L.P. (the “Conversion Shares”). BHI has historically been controlled by Brad K. Heppner, the Company’s

former Chief Executive Officer and Chairman of the Board. As previously disclosed, Mr. Heppner was convicted on May 7, 2026, of securities

fraud, wire fraud and related charges in connection with a fraudulent scheme to enrich himself. The criminal trial revealed evidence

that Mr. Heppner had fraudulently concealed his control of HCLP Nominees, L.L.C. (“HCLP”) and fabricated the purported HCLP

debt.

The

Company’s management has reviewed BHI’s objections and rejects them in their entirety. The Company believes the Conversion

Shares were validly issued under the Company’s Exchange Agreement, dated June 6, 2023, by and among the Company, Beneficient Company

Holdings, L.P. and Beneficient Company Group, L.L.C. (the “Exchange Agreement”), entered into in connection with the Company’s

2023 business combination. The Company’s position is based on a number of factors, including, among other items, that the

Exchange Agreement or other portions of the business combination were approved by Mr. Heppner and BHI, that the Company has defenses

of estoppel and laches, that the Company’s Stockholders Agreement, dated June 6, 2023, by and among the Company, BHI and Bruce

Schnitzer (the “Stockholders Agreement”) does not permit a veto of exchanges under a pre-existing agreement, and that any

purported rights of BHI under the Stockholders Agreement were procured by fraud and are unenforceable.

SIGNATURES

Pursuant

to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its

behalf by the undersigned hereunto duly authorized.

BENEFICIENT

By:

/s/

Gregory W. Ezell

Name:

Gregory

W. Ezell

Title:

Chief

Financial Officer

Dated:

November

4, 2026

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Entity Central Index Key

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Entity Address, Address Line One

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