Westport Hit with CEO/CFO Trading Ban After Filing Delays from Cyberattack
Westport received a Management Cease Trade Order on April 1, 2026 after missing its March 31 deadline for 2025 audited financials, MD&A, CEO/CFO certificates and Form 20-F due to a March 20 cyber incident. Revised audit scope underway, company plans to file Annual Filings promptly.
1. Management Cease Trade Order Issued
On April 1, 2026 the British Columbia Securities Commission imposed a temporary Management Cease Trade Order under NP 12-203, restricting trading by Westport’s CEO and CFO after the company failed to file its 2025 audited financial statements, MD&A, CEO/CFO certificates and Form 20-F by the March 31 deadline.
2. Cybersecurity Incident and Controls Review
A March 20 cyber incident triggered an internal review of controls over financial reporting, with management concluding that no deficiencies existed in connection with the incident.
3. Revised Audit Scope and Filing Plans
Westport has defined a revised audit scope and initiated additional audit procedures to address the delayed Annual Filings, with the objective of completing and filing them as soon as possible.
4. Ongoing Reporting and Compliance
The company will continue to provide bi-weekly default status updates under NP 12-203, does not anticipate further specified defaults and confirms there is no undisclosed material information.