---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-009125"
form_type: "8-K"
ticker: "MIND"
cik: "0000926423"
company_name: "MIND TECHNOLOGY, INC"
filed_at: "2024-03-25T23:59:59+00:00"
generated_at: "2026-06-04T08:54:12.516774+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# MIND Technology proposes converting preferred stock to common at 2.7:1 ratio, needs 2/3 vote by April 25

## Summary
- Each share of 9% Series A Preferred would convert into 2.7 common shares at Board's discretion before July 31, 2024.
- Preferred stockholders must approve by two-thirds vote at virtual special meeting on April 25, 2024; common holders do not vote.
- CEO cites insufficient cash flow to pay six deferred quarterly dividends; no dividends expected for foreseeable future.
- Based on March 11 market values, conversion offers ~110% premium to preferred stock market value.
- If converted, current preferred holders would own approximately 76% of the Company's common stock.

## SEC filing metadata
- accession: 0001437749-24-009125
- form_type: 8-K
- ticker: MIND
- cik: 0000926423
- company_name: MIND TECHNOLOGY, INC
- filed_at: 2024-03-25T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/926423/000143774924009125/0001437749-24-009125-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/926423/000143774924009125/mind20240325_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-009125
- JSON: https://secwatch.observer/filing/0001437749-24-009125.json
- Plain text: https://secwatch.observer/filing/0001437749-24-009125.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.