Corporate GovernanceJul 16, 2026, 05:11 PM
TEN Holdings Increases CEO Torres' Salary to $400K, Adds Bonus & Options
AI Summary
TEN Holdings, Inc. filed an amendment to its Form 8-K to provide additional details on CEO Virgilio Torres' compensation. In connection with his appointment as Chief Executive Officer, the Compensation Committee approved an increase in his annual base salary from $265,000 to $400,000, effective June 30, 2026. Additionally, Mr. Torres will receive a one-time cash bonus of $200,000 and a one-time grant of options to purchase 120,000 shares at an exercise price of $1.89 per share. A cash-settled performance award of $200,000 was also approved, subject to specific performance objectives.
Key Highlights
- CEO Virgilio Torres' annual base salary increased from $265,000 to $400,000.
- Approved a one-time cash bonus of $200,000, expected to be paid in 2027.
- Granted a one-time option to purchase 120,000 shares of common stock.
- Option exercise price set at $1.89 per share.
- Approved a cash-settled performance award of $200,000 based on performance objectives.
Price Impact
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