Corporate GovernanceSep 16, 2026, 05:20 PM
Tevogen Grants Restricted Stock Awards to CEO and CFO
AI Summary
Tevogen Inc. announced the grant of restricted stock awards (RSAs) to its executive officers, CEO Ryan Saadi and CFO Kirti Desai, on September 14, 2026. The awards are contingent upon the company achieving $1.0 billion in aggregate revenue by September 30, 2031. The RSAs are designed to align executive compensation with the company's long-term growth and success, with provisions for forfeiture under specific conditions including failure to meet the revenue threshold or termination of service. Executives retain voting rights on the restricted shares prior to vesting.
Key Highlights
- Tevogen Inc. granted restricted stock awards (RSAs) to executive officers on September 14, 2026.
- CEO Ryan Saadi granted 8,000,000 RSAs; CFO Kirti Desai granted 750,000 RSAs.
- Vesting is contingent on achieving $1.0 billion in aggregate revenue by September 30, 2031.
- Executives retain voting rights on restricted shares prior to vesting.
- RSAs are subject to forfeiture if revenue threshold is not met, service terminates, or for detrimental conduct.
Price Impact
More from TVGN