Corporate GovernanceJul 10, 2026, 04:38 PM
iQSTEL Amends CEO, CFO Compensation; CEO Salary Up to $37,800/Month
AI Summary
iQSTEL Inc. announced amendments to the employment agreements of CEO Leandro Jose Iglesias and CFO Álvaro Quintana Cardona, effective July 7, 2026. The changes include an immediate increase in the CEO's monthly base salary to $37,800, incorporating a relocation allowance, and a two-month cash performance bonus for relocation expenses. Equity compensation provisions were also amended, replacing existing annual incentives with up to 50,000 Series B Preferred Shares annually for each executive, subject to shareholder approval.
Key Highlights
- CEO Leandro Jose Iglesias's monthly base salary increased from $31,000 to $37,800.
- The CEO's salary increase includes a $6,800 monthly relocation allowance for Cyprus.
- CEO received a two-month cash performance bonus for relocation expenses.
- Annual bonus payment timing for both executives now flexible after 10-K filing.
- Annual equity incentive replaced with up to 50,000 Series B Preferred Shares for each executive, subject to approval.
- FY-2025 equity grants approved: 20,000 Series B Preferred Shares for CEO, 14,000 for CFO, subject to approval.
- Shareholder approval for equity changes will be sought via a Schedule 14C Information Statement.
Price Impact
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