Northwire Canada EditionTuesday, July 14, 2026
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Management Material −

Westport Announces Issuance of Management Cease Trade Order

By The Northwire Desk — AI Analysis Apr 01, 2026 · 18:50 WPRT · 2.65 WESTPORT FUEL SYSTEMS INC.
WPRT · Price

Executive Summary

  • The British Columbia Securities Commission issued a temporary Management Cease‑Trade Order (MCTO) restricting trading by Westport’s CEO and CFO following a cybersecurity incident.
  • Westport voluntarily applied for the MCTO after failing to file its audited 2025 financial statements, MD&A, CEO/CFO certificates, and Form 20‑F by the March 31 deadline.
  • The company is working with auditors to assess the impact of the breach on internal controls and will provide bi‑weekly updates until the required filings are completed.

Key Details

  • Regulatory Action: Temporary MCTO issued under National Policy 12‑203; applies only to CEO and CFO trading.
  • Cause: Unauthorized access to internal systems disclosed on March 20, 2026; incident prompted delayed filing of annual documents.
  • Delayed Filings: Audited consolidated financial statements for FY 2025, MD&A, CEO/CFO certificates, and Form 20‑F were all due March 31, 2026.
  • Voluntary Application: Westport applied for the MCTO to protect shareholders while it resolves filing delays.
  • Audit Review Plan:
  • Assess scope of cybersecurity impact on financial documents and data.
  • Determine if internal controls over financial reporting were compromised.
  • Adjust audit procedures as needed based on findings.
  • Complete any additional audit work or revisions to the annual filings.
  • Reporting Commitment: Westport will follow NP 12‑203 alternative information guidelines and issue bi‑weekly news releases with status updates.
  • Operational Impact: CEO states core manufacturing and customer deliveries remain unaffected.

Notable Quotes

“On March 20, 2026, we announced that we had recently identified unauthorized access to certain internal systems… Importantly, our core operations remain unaffected, with no disruption to manufacturing or customer delivery.” – Dan Sceli, President & CEO

Materiality Assessment: Material – Negative (significant regulatory action and delayed statutory filings stemming from a cybersecurity breach).

Read the original news release →

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Management