Forian Inc. Expands Equity Incentive Plan by 4 Million Shares

Forian Inc. (NASDAQ:FORA), a company specializing in computer processing and data preparation with a market capitalization of $62.4 million, announced on Monday that its stockholders have approved an amendment to increase the number of shares available under its 2020 Equity Incentive Plan by 4 million shares. The total available shares for issuance now stand at 10.4 million. This approval was given during the Annual Meeting held on June 11, 2025, following prior approval from the company’s Board of Directors. According to InvestingPro data, the company maintains a strong financial position with more cash than debt and a healthy current ratio of 2.5x, suggesting solid liquidity to support its expansion plans.

The amendment, aimed at enhancing the company’s ability to attract and retain talent through equity compensation, was detailed in the Proxy Statement filed with the U.S. Securities and Exchange Commission on April 29, 2025. The full text of the amendment is incorporated by reference into Forian Inc.’s Current Report on Form 8-K as Exhibit 10.1. While currently unprofitable, InvestingPro analysis indicates positive expectations for 2025, with analysts forecasting a return to profitability and continued revenue growth from its current 5.22% year-over-year increase.

In addition to the equity plan expansion, stockholders at the Annual Meeting voted on several other key items. Two Class I director nominees, Stanley S. Trotman, Jr. and Kristiina Vuori, M.D., Ph.D., were elected to the company’s board. The appointment of CBIZ (NYSE:CBZ) CPAS P.C. as Forian Inc.’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was also ratified with an overwhelming majority.

The detailed results of the votes, including the number of votes for, against, abstentions, and broker non-votes for each proposal, are disclosed in the Form 8-K. This report serves as a formal record of the matters submitted to a vote of security holders during the Annual Meeting. For investors seeking deeper insights, InvestingPro offers comprehensive analysis through its Pro Research Report, available for Forian along with 1,400+ other US stocks, providing detailed financial health metrics and expert analysis for informed investment decisions.

The information provided in this article is based on Forian Inc.’s recent SEC filing.

In other recent news, VerticalScope Holdings Inc. announced a leadership change with Chris Goodridge stepping in as the new Chief Executive Officer, while Ezra Menaged takes on the role of Chief Operating Officer. This shift is part of the company’s strategy to enhance its AI capabilities, leveraging its vast archive of content across more than 1,200 online communities. The company’s founder, Rob Laidlaw, now serves as Chair of the Board, expressing confidence in the new leadership to drive AI innovation. Meanwhile, Forian Inc. disclosed changes in its auditing arrangements, appointing CBIZ CPAs P.C. as its new independent auditor following the acquisition of its previous auditor, Marcum LLP, by CBIZ. The company also revealed material weaknesses in its internal controls, specifically in IT controls, payables transactions, and revenue recognition, leading to restatements of certain financial statements. Forian assured that there were no disagreements with Marcum on auditing matters. Additionally, Forian announced the upcoming departure of Executive Vice President Edward Spaniel, Jr., who will resign from his positions later this month. The company has not yet disclosed plans for his replacement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.