Mawson Infrastructure Group Inc. filed SEC Form 8-K: Leadership Update
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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 November 26, 2024, the Board of Directors of Mawson Infrastructure Group Inc. (the “Company”), based on the review and recommendation of the Compensation Committee of the Board approved bonus compensation to the Chief Executive Officer and President of the Company, Rahul Mewawalla, for his performance during the Company’s fiscal year ended December 31, 2024, consisting of an award of 1,235,030 restricted stock units (“RSUs”) under the Company’s 2024 Omnibus Equity Incentive Plan (the “Equity Award”) and $2,578,125 as cash, which was paid on the following schedule: (i) $859,375 in December 2024 (ii) $859,375 in January 2025 and (iii) $859,375 in February 2025. The Equity Award was granted on February 26, 2025 (the “Grant Date”) and one hundred percent (100%) of the RSUs vested on the Grant Date and the Settlement Date is August 5, 2025. On December 19, 2024, the Board of Directors, based on the review and recommendation of the Compensation Committee, approved a base salary increase for Mr. Mewawalla to $1,200,000 commencing on January 1, 2025. In reviewing and approving the change, the Compensation Committee and the Board considered, among other factors, that Mr. Mewawalla is a high-performing CEO and President, the transformative nature of the Company, his skill-sets and contributions, and considering the long-term interests of the Company.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Mawson Infrastructure Group Inc. | ||
| Date: March 7, 2025 | By: | /s/ Kaliste Saloom |
| Kaliste Saloom | ||
| General Counsel and Corporate Secretary | ||
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