Corporate GovernanceSep 25, 2026, 04:41 PM
SOBR Safe Approves Retention Bonuses for Directors and Executives
AI Summary
SOBR Safe, Inc. announced the approval of retention bonuses for its directors and named executive officers. Directors Sandy Shoemaker, Kris Pederson, and Steven Beabout are set to receive retention bonuses totaling $175,000, payable in two installments. Named executive officers David Gandini (CEO) and Chris Whitaker (CFO) will receive bonuses and release payments totaling $1,040,000. The company also disclosed that it has determined it meets the definition of a 'shell company' due to discontinued revenue-generating operations and workforce reduction.
Key Highlights
- SOBR Safe approved retention bonuses for directors: Sandy Shoemaker ($55,000), Kris Pederson ($50,000), Steven Beabout ($70,000).
- SOBR Safe approved retention bonuses for named executive officers: David Gandini ($100,000 bonus, $270,000 release payment), Chris Whitaker ($70,000 bonus, $270,000 release payment).
- Retention bonuses for directors are payable in two installments: 60% within 10 days of Sep 22, 2026, and 40% on Nov 30, 2026, contingent on the 2026 Annual Meeting.
- Bonus payments for named executive officers are payable within 10 days of Sep 22, 2026, subject to release of claims.
- Release payments for named executive officers are payable in two installments: 60% within 10 days of Sep 22, 2026, and 40% on Nov 30, 2026, contingent on continued employment.
- The company has determined it meets the definition of a 'shell company' under Rule 12b-2 of the Securities Exchange Act of 1934.
Price Impact
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