Every single one of the five board members at Solana treasury enterprise SkyAI preserved their positions during the annual gathering, notwithstanding a pushback movement led by Bastion Trading and Forward Industries.
As indicated in a Thursday SEC filing, the individual directors received roughly 18.4 million to 20.7 million withheld ballots contrasted with only 6.9 million up to 9.2 million affirmative votes. Still, because of a plurality voting framework, those withheld tallies did not function as votes against any candidate, allowing all five board members to secure their positions.
Forward had previously admitted this result was expected while encouraging investors to withhold ballots.
Nevertheless, investors decisively turned down SkyAI’s suggested 2026 equity incentive scheme, recording 22.5 million opposed versus 5 million in agreement. The proposal would have permitted an extra 5 million shares for equity compensation beyond the units already accessible via the firm’s current program.
Forward, currently holding the position of the leading Solana treasury enterprise by a substantial margin, has been attempting a buyout of SkyAI since the middle of June. Forward presented a revised acquisition bid on September 15 once SkyAI turned down their initial overture. The current bid values every SkyAI share (SKYA) equal to 0.306 shares of Forward (FWDI).
SkyAI has not yet made its verdict public regarding this secondary proposal, for which Forward set a deadline reply of 5 p.m. ET on Friday.
SkyAI equities advanced 4.4% during the session yet decreased 15.8% across the year, whereas Forward equities climbed 2.5% on the day and approximately 23% overall for the year-to-date period.
Originally published at https://www.theblock.co/news/business/2026-09-24-solana-treasury-skyai-keeps-board-shareholder-protest-loses-equity-plan-vote-416298.
