VerifyMe (VRME) has provided an update.
VerifyMe, Inc. has implemented a salary reduction program, which includes a 10% pay cut for CEO Adam Stedham and CFO Nancy Meyers, in exchange for restricted stock unit awards (RSUs). These RSUs, which convert to common stock shares, will be granted annually and vest the following January, with the program set to run until the end of 2025. Provisions are in place for the vesting of RSUs in case of early termination, barring termination for cause, which would lead to forfeiture of unvested RSUs.
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