Avant Technologies (AVAI) has released an update to notify the public and investors about its officers.
Mrs. Harris, as the newly appointed COO, will receive a $275,000 annual base salary and a potential annual cash bonus of up to 35% of her base salary, due by March 15th of the following year. Her equity compensation includes incentive stock options amounting to 2% of the company’s outstanding common stock, with a four-year vesting schedule, and restricted stock awards, which include a tax bonus and a possible $500,000 up-listing bonus if listed on Nasdaq or another exchange. The Board of Directors has approved this compensation package, aligning with the company’s executive compensation standards as reported in the Form 10-K.
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For a comprehensive understanding of the announcement, you can read the full document here.
