---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-044656"
form_type: "8-K"
ticker: "POLA"
cik: "0001622345"
company_name: "Polar Power, Inc."
filed_at: "2026-09-28T21:28:58+00:00"
generated_at: "2026-10-12T13:39:08.270501+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Polar Power CEO Arthur Sams converts $614,700 debt into 683 preferred shares

## Summary
- CEO/founder Arthur Sams exchanged $614,700 principal and accrued interest on his Polar Power promissory notes for 683 Series A Convertible Preferred shares (stated value $1,000).
- Preferred stock accrues a 10% annual dividend, payable monthly, and converts at 90% of the lowest 7-day VWAP, subject to a floor price.
- Sams also received a warrant for 382,276 common shares at a $1.34 exercise price, exercisable for three years from issuance.
- Company says the deal removes $614,700 of debt, boosts shareholders' equity and helps address its Nasdaq continued-listing equity compliance issue; Audit Committee approved it.
- Exchange Agreement dated September 23, 2026 between Polar Power and Sams; press release issued September 24, 2026.

## SEC filing metadata
- accession: 0001493152-26-044656
- form_type: 8-K
- ticker: POLA
- cik: 0001622345
- company_name: Polar Power, Inc.
- filed_at: 2026-09-28T21:28:58+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1622345/000149315226044656/0001493152-26-044656-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1622345/000149315226044656/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-044656
- JSON: https://secwatch.observer/filing/0001493152-26-044656.json
- Plain text: https://secwatch.observer/filing/0001493152-26-044656.txt

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