VivoPower begins share conversion program to reduce public float, bolster long-term alignment

VivoPower PLC (NASDAQ:VIVO, FRA:51J) said on Friday it has begun converting a portion of its publicly traded shares into a restricted class held by insiders, reducing its public float as part of a broader push to align management with long-term shareholder interests. The company said executive chairman and CEO Kevin Chin and affiliated entities have voluntarily converted about 2.96 million Nasdaq-listed Class A ordinary shares into unlisted Class B shares, which carry enhanced voting rights but cannot be freely traded.