Fly-E Group, Inc. Receives Nasdaq Notice for Failure to Hold Annual Shareholders Meeting

Key Highlights:

• Fly-E Group, Inc. (Nasdaq: FLYE) received a deficiency letter from Nasdaq on April 17, 2026, notifying the company that it had failed to comply with Nasdaq Listing Rule 5620(a), which requires listed companies to hold an annual shareholders’ meeting within twelve months of the end of their fiscal year.
• The company did not hold its annual meeting for the fiscal year ended March 31, 2025, within the required timeframe.
• The deficiency letter does not result in immediate delisting or affect trading of FLYE shares on the Nasdaq Capital Market at this time.
• Fly-E Group, Inc. has until June 1, 2026, to submit a compliance plan to Nasdaq. If accepted, Nasdaq may grant an extension of up to 180 calendar days (until September 28, 2026) for the company to regain compliance.
• If Nasdaq does not accept Fly-E’s plan, the company will have the right to appeal the decision to a Nasdaq Hearings Panel.
• The company stated the delay was caused by administrative reasons, not due to disputes among shareholders or the Board of Directors.
• Fly-E Group, Inc. indicated its intention to regain compliance by convening the annual meeting within the allowed timeframe, following Nasdaq Listing Rule 5810(c)(2)(G).
• The company cautioned there is no guarantee it will be able to regain compliance or meet other continued listing requirements in the future.

Details and Analysis:

On April 17, 2026, Fly-E Group, Inc. (the “Company”) received a formal notification from the Listing Qualifications Staff of The Nasdaq Stock Market (the “Staff”), stating that the Company is not in compliance with Nasdaq Listing Rule 5620(a). This rule specifically mandates that public companies listed on Nasdaq must hold an annual meeting of shareholders within twelve months following the end of their fiscal year. Fly-E’s fiscal year ended on March 31, 2025, but the Company failed to hold its required annual meeting within the next twelve months, prompting the deficiency notice.

The deficiency letter, often referred to as a “Deficiency Letter,” is an official notice but does not constitute an immediate threat to Fly-E’s continued listing on the Nasdaq Capital Market. The Company’s shares (trading symbol: FLYE) remain listed and trade as usual while the Company addresses the issue.

Upon receiving such a notice, Nasdaq procedures allow the Company 45 calendar days (until June 1, 2026) to submit a plan to regain compliance. If the Staff accepts the plan, Fly-E could be eligible for an extension of up to 180 calendar days from the end of the last fiscal year—meaning the Company would have until September 28, 2026, to conduct its annual meeting and cure the deficiency. If the plan is not accepted, Fly-E has the right to request a hearing before a Nasdaq Hearings Panel, which could further delay any delisting action.

Of particular importance to shareholders, the Company clarified that the delay in holding the annual shareholders’ meeting was “administrative in nature” and not due to any disagreement among shareholders or with the Board of Directors. This suggests that no underlying governance or control disputes are present that could otherwise be a cause for investor concern.

Despite this, the Company disclosed a key risk: “there can be no assurance that it will be able to regain compliance with these rules or will otherwise be in compliance with other Nasdaq continued listing requirements.” This is a material risk factor for shareholders, as failure to comply could ultimately result in the company’s delisting from Nasdaq, which would likely have a significant negative impact on share liquidity and market value.

As of the report date, Fly-E Group, Inc. remains categorized as an “emerging growth company” under SEC rules and continues to trade its common stock (\$0.01 par value per share) on the Nasdaq Capital Market under the symbol FLYE.

What Shareholders Should Know:

• This notice is not an immediate delisting event, but it puts Fly-E Group, Inc. on a compliance clock.
• Investors should monitor news from the Company regarding its compliance plan and the scheduling of the annual meeting. Failure to regain compliance could result in delisting, which is typically considered materially negative for share value and investor confidence.
• The Company has stated it plans to regain compliance and does not believe the delay is due to any governance issues.
• There is no guarantee the plan will be accepted or that the Company will meet other Nasdaq requirements in the future.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell securities. Investors should conduct their own due diligence and consult with their financial advisors before making any investment decisions. The author and publisher are not liable for any actions taken based on the information presented above.

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