---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-029781"
form_type: "8-K"
ticker: "TONX"
cik: "0001566610"
company_name: "TON Strategy Co"
filed_at: "2026-06-23T20:05:34+00:00"
generated_at: "2026-06-23T20:07:35.270076+00:00"
event_type: "regulatory"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# TON Strategy receives Nasdaq reprimand for excess equity awards; listing continues

## Summary
- Violated Nasdaq Rule 5635(c) by issuing equity awards in excess of shareholder-approved 2019 Plan.
- Self-reported violation; Staff determined failure not deliberate, issued reprimand instead of delisting.
- Company obtained shareholder ratification for prior grants and rescinded recent officer/director awards.
- Shares continue trading on Nasdaq under ticker TONX; matter closed after this 8-K filing.

## SEC filing metadata
- accession: 0001493152-26-029781
- form_type: 8-K
- ticker: TONX
- cik: 0001566610
- company_name: TON Strategy Co
- filed_at: 2026-06-23T20:05:34+00:00
- event_type: regulatory
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 3.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1566610/000149315226029781/0001493152-26-029781-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1566610/000149315226029781/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-029781
- JSON: https://secwatch.observer/filing/0001493152-26-029781.json
- Plain text: https://secwatch.observer/filing/0001493152-26-029781.txt

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