Business UpdateJun 9, 2026, 04:56 PM
FG Nexus Repurchases 35% Common Stock; Cuts Digital Asset Exec Salaries
AI Summary
FG Nexus Inc. announced updates to its share repurchase programs and executive compensation, reflecting a reduced scale of operations in its digital asset business. The company repurchased 35% of its outstanding common stock and 30% of its Series A Preferred Stock. Additionally, the annual base salaries for Jose Vargas, Head of Business Development, and Theodore Rosenthal, President of the Digital Assets Division, were significantly reduced from $150,000 to $30,000. As of June 5, 2026, FG Nexus held $36.1 million in cash and $20.3 million in digital assets.
Key Highlights
- FG Nexus repurchased 2,984,212 common shares (35% of outstanding) at an average of $13.62 per share.
- The company repurchased 264,465 Series A Preferred Stock (30% of outstanding) at an average of $24.97 per share.
- As of June 5, 2026, 5,736,419 common shares and 630,105 Series A Preferred Stock shares were outstanding.
- FG Nexus held $36.1 million in cash and $20.3 million in digital assets as of June 5, 2026.
- Digital assets included 3,375 ETH and 7,569 Wrapped stETH.
- Jose Vargas's annual base salary was reduced from $150,000 to $30,000.
- Theodore Rosenthal's annual base salary was reduced from $150,000 to $30,000.
Price Impact
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