secwatch.observer — SEC 8-K summary
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Issuer:     OLB GROUP, INC. (OLB)
CIK:        0001314196
Form:       8-K
Filed at:   2022-01-13T23:59:59+00:00
Accession:  0001213900-22-001842
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OLB Group signs new CEO/VP employment pacts: Yakov $750K salary, 200K annual options; Smith $350K salary
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- Ronny Yakov's contract runs through Dec 31, 2027 with $750,000 annual base salary.
- Yakov receives $490,000 acquisition bonus for 2020-2021 deals and 2% of future deal purchase price.
- Yakov eligible for annual $300,000 performance bonus and annual options for 200,000 shares at $0.001 exercise price.
- Patrick Smith, VP Finance, gets $350,000 salary, $150,000 annual bonus, and options for 275,000 shares at $0.001 vesting over 5 years.
- If terminated without cause, both executives receive base salary through term end plus all earned bonuses.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1314196/000121390022001842/0001213900-22-001842-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1314196/000121390022001842/ea153842-8k_theolbgroup.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-001842

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer