UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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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.
On December 31, 2024, the Compensation Committee of the Board of Directors of Heritage Global, Inc. (the “Company”) approved a compensation plan (the “Compensation Plan”) for Brian Cobb, the Chief Financial Officer of the Company. Mr. Cobb has served as the Company’s principal financial officer since March 18, 2021.
The Compensation Plan provides that, for the years 2025 through 2028, Mr. Cobb will receive an annual base salary of $300,000. Additionally, under the Compensation Plan, Mr. Cobb is eligible to receive the following bonuses:
In addition, pursuant to the Compensation Plan, on January 1, 2025, Mr. Cobb received a restricted stock award of 125,000 shares of the Company’s common stock under the 2022 Heritage Global Inc. Equity Incentive Plan. The shares subject to such restricted stock award will vest in equal installments on December 31 for the years 2025 through 2028.
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.
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HERITAGE GLOBAL INC. |
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Date: January 3, 2025 |
By: |
/s/ Ross Dove |
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Ross Dove |
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Chief Executive Officer |