Westport (Nasdaq: WPRT) gives MCTO update after 2026 cyber incident
Rhea-AI Filing Summary
Westport Fuel Systems filed a Form 6-K to share a bi-weekly update on a management cease trade order that followed a March 2026 cybersecurity incident and delayed 2025 annual filings. The order restricts trading in the company’s securities by the CEO and CFO but not by other investors.
The investigation of the cyber incident has concluded, including a review of internal controls over financial reporting, and management determined those controls were not deficient. A revised audit scope for the 2025 annual financial statements and related filings is now underway, and Westport plans to complete and file them as soon as possible.
Westport states there has been no material change to the earlier cyber incident disclosure, does not expect additional specified defaults under the Canadian policy governing the order, and confirms there is no undisclosed material information. The company will continue bi-weekly status updates until the annual filings are made.
Positive
- Internal controls deemed sound: Management completed its review related to the cybersecurity incident and concluded the company’s internal controls over financial reporting were not deficient.
- Audit work progressing: A revised scope of audit activity for the 2025 annual financial statements and related filings is in place and currently underway, with plans to file as soon as practicable.
Negative
- Delayed 2025 annual filings: The company’s audited 2025 financial statements, management discussion and analysis, CEO/CFO certificates, and Form 20-F remain delayed beyond the March 31, 2026 deadline due to the cybersecurity incident.
- Management cease trade order in effect: A temporary management cease trade order continues to restrict trading in the company’s securities by the CEO and CFO in connection with the filing delay, indicating ongoing regulatory oversight until the filings are completed.
Key Figures
Key Terms
Management Cease Trade Order regulatory
National Policy 12-203 regulatory
internal controls over financial reporting financial
alternative information guidelines regulatory
forward-looking statements regulatory
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2026
Commission File Number: 001-34152
WESTPORT FUEL SYSTEMS INC.
(Translation of registrant's name into English)
1691 West 75th Avenue, Vancouver, British Columbia, Canada, V6P 6P2
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X ] Form 40-F [ ]
INCORPORATION BY REFERENCE
Exhibit 99.1 to this Form 6-K is hereby incorporated by reference into the Company's Registration Statement on Form F-3 (File No.333-289669) and the Registration Statement on Form S-8, as amended (Registration No.333-248912).
On April 15, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
(c) Exhibit 99.1. Press release dated April 15, 2026
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| WESTPORT FUEL SYSTEMS INC. | ||
| (Registrant) | ||
| Date: April 15, 2026 | /s/ Elizabeth Owens | |
| Elizabeth Owens | ||
| Chief Financial Officer | ||
EXHIBIT 99.1
Westport Provides Bi-Weekly Management Cease Trade Order Status Update
VANCOUVER, British Columbia, April 15, 2026 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport" or the “Company”) (TSX:WPRT / Nasdaq: WPRT) is providing this bi-weekly management cease trade order status report in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“).
On April 1, 2026, the Company announced that, at the request of the Company, the British Columbia Securities Commission issued a temporary management cease trade order against the Company (the “MCTO”) under NP 12-203 in connection with the Company’s delayed filing of its: (i) audited consolidated financial statements for the fiscal year ended December 31, 2025 (the “Annual Financial Statements“), (ii) management’s discussion and analysis relating to the Annual Financial Statements, (iii) CEO and CFO certificates relating to the Annual Financial Statements and (iv) annual information form on Form 20-F (collectively, (the “Annual Filings“), as a result of the cybersecurity incident previously announced by the Company on March 20, 2026 (the “Announcement”). Each of the Annual Filings was required to be filed by March 31, 2026, under Canadian securities laws. The MCTO restricts trading in the Company’s securities by the CEO and CFO but does not restrict trading by other shareholders or investors.
Pursuant to NP 12-203, Westport must file bi-weekly default status reports by way of news releases during the period of the MCTO. The Company confirms that since the date of the announcement, the investigation of the cyber incident has concluded and included a review of internal controls over financial reporting. Management has concluded that the Company's internal controls over financial reporting were not deficient in connection with the incident. A revised scope of audit activity in relation to the Annual Filings has been defined and is now underway. Westport plans to issue its Annual Filings as soon as possible.
Westport confirms that since the date of the Announcement: (i) there has been no material change to the information set out in the Announcement that would reasonably be expected to be material to an investor; (ii) the Company is satisfying and intends to continue to satisfy the alternative information guidelines under NP 12-203 by providing bi-weekly status updates by way of news release until the Annual Filings are filed; (iii) the Company does not anticipate any subsequent specified defaults under NP 12-203; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed
About Westport
Westport is a technology and innovation company connecting synergistic technologies to power a cleaner tomorrow. As a leading supplier of affordable, alternative fuel, low-emissions transportation technologies, we design, manufacture, and supply advanced components and systems that enable the transition from traditional fuels to cleaner energy solutions.
Our proven technologies support a wide range of clean fuels – including natural gas, renewable natural gas, and hydrogen – empowering OEMs and commercial transportation industries to meet performance demands, regulatory requirements, and climate targets in a cost-effective way. With decades of expertise and a commitment to engineering excellence, Westport is helping our partners achieve sustainability goals—without compromising performance or cost-efficiency – making clean, scalable transport solutions a reality.
Westport is headquartered in Vancouver, Canada. For more information, visit www.westport.com.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements, including statements regarding the Company's ability to complete and file the Annual Filings and the timing thereof, the terms of the MCTO, the Company's audit activities, the Company's expectations regarding subsequent specified defaults, and the Company's compliance with the reporting requirements of NP 12-203. These forward-looking statements are neither promises nor guarantees but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause actual results to differ materially from those expressed or implied. These risks, uncertainties and assumptions include those related to the cybersecurity incident and the Company's ability to complete and file the Annual Filings, general economic conditions of and access to the capital and debt markets, solvency, governmental policies and regulation, foreign exchange rate fluctuations, supply-chain factors and other risks and assumptions described in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date of press release. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward looking statements except as required by National Instrument 51-102. The contents of any website, RSS feed or twitter account referenced in this press release are not incorporated by reference herein.
Contact Information
Westport Investor Relations
T: +1 604-718-2046