Beyond Meat's board had fifteen reverse split ratios to choose from, running as deep as 1-for-150, and took the third shallowest with three weeks left on the Nasdaq clock

Fifteen ratios were on the table, and the deepest of them was 1-for-150.

Beyond Meat's board took 1-for-30. The company said on 11 August that the split will take effect at 11.59 p.m. Eastern on 13 August, and that the shares will open on a split-adjusted basis the following morning under the same ticker and a new CUSIP number. Every 30 shares become one.

The purpose is stated plainly in the filing. It is to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market.

The clock the ratio was chosen against

A deficiency letter arrived on 4 March. Nasdaq told the company that for the previous 30 consecutive business days its closing bid price had sat below the $1.00 minimum set by Listing Rule 5450(a)(1).

That started a 180 day period under Rule 5810(c)(3)(A), which runs out on 31 August. To clear it, the closing bid has to be at least $1.00 for a minimum of ten consecutive business days before that date. The first split-adjusted session is 14 August. Counting from there to 31 August gives twelve business days, and the rule asks for ten of them in a row.

Missing the date is not automatically fatal. The company could become eligible for a further 180 days by transferring to the Nasdaq Capital Market and meeting that market's other initial listing standards.

Both votes happened in the same room

The thirty alternate amendments were approved on 19 November 2025, by 257,601,842 votes to 13,515,077, with no broker non-votes. They are not thirty ratios. They are fifteen ratios, from 1-for-10 to 1-for-150, drafted twice over to cover two scenarios, and the board was left to pick one and let the rest lapse.

The scenario that applied is identifiable from a number rather than from an announcement. Under the version that assumed a separate proposal had passed, a 1-for-30 split carries an authorised share reduction from 3,000,000,000 to 100,000,000. That is the figure in the 11 August filing.

The separate proposal is the interesting part. At that same November meeting, stockholders voted 189,457,626 to 7,576,325 to raise authorised common stock from 500,000,000 to 3,000,000,000, in order to support the shares issuable on conversion of the company's new 7.00 percent second lien notes and under its restated equity plan. Nine months later the same authorisation is being cut by 96.7 percent.

What the numbers become

The most recent quarterly report puts 515,818,978 shares outstanding as of 5 August. At 1-for-30 that is about 17.2 million, before the rounding up of fractions.

Fractions do round up. Nobody entitled to part of a share gets cashed out. Holders receive the fraction needed to reach the next whole share, and the filing says the same treatment applies at the participant level inside the clearing system, though brokers may run their own procedures for their own customers.

The conversion rates on the 7.00 percent notes due 2030 and the 0 percent notes due 2027 adjust proportionately, as do outstanding warrants, their exercise prices, and the shares under the equity plans.