Connexa Sports Technologies Inc. filed SEC Form 8-K: Leadership Update, Other Events
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Director Resignation
On June 12, 2025, Warren Andrew Thomson resigned from the board of directors (the “Board”) of Connexa Sports Technologies Inc. (the “Company”) and all committees thereof, effective immediately. As an independent director, Mr. Thomson was a member of the nominations, audit, and compensation committees. Mr. Thomson has confirmed to the Company that he did not resign on account of any disagreement with the Company on any matter relating to its operations, policies, or practices.
Change in Compensatory Arrangement for Employee Director
On June 18, 2025, the Board, as part of a change in compensation to all members of the Board as disclosed under Item 8.01 below, approved a change in the compensation of the Company’s employee director, Chief Executive Officer of the Company, Thomas Tarala, for his services as a director of the Company, from cash payments of $7,500 per financial quarter and a quarterly grant of restricted common stock with a market value of $12,500 under the Slinger Bag Inc. Global Share Incentive Plan (2020), as amended (the “Plan”), to cash compensation of $60,000 per financial year. The cash payments are retroactive to when Mr. Tarala became a member of the Board and, as a result, the Company currently owes Mr. Tarala a total of $30,000 for his service on the Board ($15,000 for the quarter that began on November 1, 2024 and $15,000 for the quarter that began on February 1, 2025).
Item 8.01 Other Events
On June 18, 2025, the Board also approved a change in the compensation of the Company’s non-employee directors, from cash payments of $7,500 per financial quarter and a quarterly grant of restricted common stock with a market value of $12,500 under the Plan, to cash compensation of $60,000 per financial year. As with the amount owed to Mr. Tarala, the cash payments are retroactive to when each person became a member of the Board and, as a result, the Company currently owes each director a total of $30,000.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CONNEXA SPORTS TECHNOLOGIES inc. | ||
| a Delaware corporation | ||
| Dated: June 18, 2025 | By: | /s/ Thomas Tarala |
| Chief Executive Officer and Director | ||
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