secwatch.observer — SEC 8-K summary
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Issuer:     RYVYL Inc. (RVYL)
CIK:        0001419275
Form:       8-K
Filed at:   2026-09-16T20:45:35+00:00
Accession:  0001185185-26-004068
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RTB Digital signs CEO Heckman to 5-year services deal with retro pay, $250K bonus, equity milestones
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- Agreement effective June 1, 2026 through Dec 31, 2030; base salary $75K/month retroactive to June 1, then $50K/month from Jan 1, 2027.
- Retroactive compensation of $195K for June-Aug 2026 plus initial cash bonus of $250K payable within 5 days.
- Annual performance bonuses: 50% of base upon EBITDA-positive run-rate, 100% upon $100M EBITDA+ revenue run-rate.
- Equity awards include Nasdaq True-up to 10% of diluted cap (cap 34.7M shares) and $100M revenue milestone RSUs; LTIP stock-price appreciation bonuses 2027-2031.
- Severance: 12 months base if terminated without cause/good reason; after change of control, full vesting and company must offer to repurchase 50% of shares at VWAP.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1419275/000118518526004068/0001185185-26-004068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1419275/000118518526004068/rtb8k091626.htm
  HTML page:      https://secwatch.observer/filing/0001185185-26-004068

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