Vivakor sells two subsidiaries for $11M in preferred stock; enters forbearance on lease defaults

Vivakor, Inc.

Sells Meridian Equipment Leasing and Equipment Transport for $11,058,235 in Series A Convertible Preferred Stock.
Acknowledges defaults on Maxus Capital leases; forbearance requires ~$9.2M payments by Nov 2025 plus monthly amounts.
COO Russ M. Shelton resigns effective Aug 3, 2025; receives $120,300 in severance through Sep 5, 2025.
Declares special dividend of 206,595 shares of Adapt, Inc.; record date Aug 20, 2025.
Annual shareholder meeting set for Sep 11, 2025.

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