Corporate ActionMay 29, 2026, 05:12 PM

BioRestorative Therapies Stockholders Approve 1,425% Share Increase

AI Summary

BioRestorative Therapies, Inc. stockholders approved a significant increase in authorized common stock from 75 million to 1.5 billion shares at a Special Meeting. This corporate action provides the company with greater flexibility for future capital raises or strategic initiatives. Additionally, the company entered into new three-year employment agreements with its President, CEO, and Chairman, Lance Alstodt, and its Chief Financial Officer, Robert Kristal, maintaining their current salaries and outlining bonus eligibility and severance terms.

Key Highlights

Stockholders approved increasing authorized common stock from 75,000,000 to 1,500,000,000 shares.
The amendment was approved with 9,868,606 votes For, 2,389,059 Against, and 179,207 Abstentions.
CEO Lance Alstodt signed a 3-year employment agreement with an annual salary of $600,000.
Alstodt is eligible for an annual cash bonus up to 50% of his salary and 2 years of COBRA benefits upon certain terminations.
CFO Robert Kristal signed a 3-year employment agreement with an annual salary of $350,000.
Kristal is eligible for an annual cash bonus up to 40% of his salary and 1 year of COBRA benefits upon certain terminations.
Both executives' agreements include severance and immediate equity vesting upon certain terminations or a Change in Control.

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BioRestorative Therapies, Inc.

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