---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-23-000240"
form_type: "8-K"
ticker: "RVYL"
cik: "0001419275"
company_name: "RYVYL Inc."
filed_at: "2023-03-21T23:59:59+00:00"
generated_at: "2026-06-17T22:09:22.399928+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# RYVYL boosts COO and CFO salaries to $320K; COO bonus tied to financial restatements

## Summary
- Base salaries for COO Min Wei and CFO James Byelick raised to $320,000 retroactive to Jan 1, 2023.
- Retroactive payments: $15,833.36 to Wei and $18,958.34 to Byelick (CFO resigned Mar 2, 2023).
- COO Wei eligible for $160,000 performance bonus: 2/3 upon completion of restatements for FY2021 and Q1-Q3 2022 plus 2022 10-K filing, 1/3 after SEC review.
- Restatements indicate prior financial statements for FY2021 and interim 2022 periods were incorrect, adding governance concerns.

## SEC filing metadata
- accession: 0001185185-23-000240
- form_type: 8-K
- ticker: RVYL
- cik: 0001419275
- company_name: RYVYL Inc.
- filed_at: 2023-03-21T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1419275/000118518523000240/0001185185-23-000240-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1419275/000118518523000240/ryvyl20230320_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-23-000240
- JSON: https://secwatch.observer/filing/0001185185-23-000240.json
- Plain text: https://secwatch.observer/filing/0001185185-23-000240.txt

## Key facts
- Executive change
  James D. Byelick resigned as Chief Financial Officer at RYVYL Inc..
  - Action: resigned
  - Role: Chief Financial Officer
  source text: Mr. James D. Byelick, the Chief Financial Officer of the Company at the time of the Committee’s approval (Mr. Byelick resigned on March 2, 2023).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1419275/000118518523000240/0001185185-23-000240-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.