{"url_path":"/sec/pola/8-k/2026-07-16/item-5-03","section_key":"item-5-03","section_title":"Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-16","source_url":"https://www.sec.gov/Archives/edgar/data/1622345/0001493152-26-033591-index.html","accession_number":"0001493152-26-033591","cik":"0001622345","ticker":"POLA","issuer_name":"Polar Power, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1622345/0001493152-26-033591-index.html","primary_entity_key":"0001622345","primary_entity_name":"Polar Power, Inc."},"word_count":289,"has_tables":true,"body_markdown":"**Item\n5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**\n\n \n\nPolar\nPower, Inc. (the “Company”) has established a series of the Company’s preferred stock, par value $0.0001 per\nshare, which is designated as “Series A Convertible Preferred Stock,” having a stated value of $1,000 per share with 25,000\nshares reserved for issuance (the “Convertible Preferred”). Pursuant to the certificate of designation of preferences,\nrights and limitations of Series A Convertible Preferred Stock (the “COD”), the Convertible Preferred will bear a\ndividend, which will accrue monthly at a rate of 10% per annum, and will be convertible into shares of the Company’s common stock,\npar value $0.0001 per share (the “Common Stock”) at the market conversion price (such shares the “Preferred\nConversion Shares”). The market conversion price will be equal to 90% of the lowest VWAP over the seven consecutive trading\ndays immediately preceding the measurement date, using the lowest result from the following three measurement dates: (a) the closing\ndate of sale of the Convertible Preferred, (b) the date of effectiveness of a registration statement for resale of the Preferred Conversion\nShares and (c) the date on which the Company receives shareholder approval for issuing shares of Common Stock in excess of 20% of its\noutstanding Common Stock. The Company has not yet issued or sold any Convertible Preferred.\n\n \n\nOn\nJuly 10, 2026, the Company filed the COD with the Secretary of State of the State of Delaware, setting forth the terms of the Preferred\nShares. That summary of the COD does not purport to be complete and is qualified in its entirety by the full text of the COD which is\nfiled as Exhibit 3.1 to this Current Report, which is incorporated herein by reference."}