Vestand Incorporated (NASDAQ:VSTD) ("Vestand" or the "Company") received a notice (the "Notice") from Nasdaq Listing Qualifications ("Nasdaq") on April 23, 2026 notifying the Company that as it has not yet filed its Annual Report on Form 10-K for the period ended December 31, 2025 (the "Form 10-K"), the Company no longer complies with Listing Rule 5250(c)(1) for continued listing on Nasdaq (the "Periodic Filing Requirement").

The Notice from Nasdaq has no immediate effect on the listing of the Company's Class A Common Stock.

As reported on December 2, 2025, the Company previously received a deficiency notice from Nasdaq for failing to file its Form 10-Q for the quarter ended September 30, 2025. The Company's failure to file the Form 10-K is considered an additional delinquency. As a result of this additional delinquency, the Company expects to submit to Nasdaq an updated plan to regain compliance with the Periodic Filing Requirement which would allow the Company to regain compliance by May 18, 2026.