XTI Aerospace appoints Michael A. Tapp as COO; grants stock options to executives

XTI Aerospace, Inc.

Michael A. Tapp appointed COO effective Sept 1, 2025; base salary $600,000, eligible for quarterly bonuses up to 100% of salary.
Initial stock option grants: CEO Scott Pomeroy 2,621,100 shares, COO Tapp 1,613,000 shares, all at $2.00 exercise price.
Options vest: one-third immediately, remaining quarterly over two years; expire after ten years.
Side letter requires company to move headquarters to Dallas-Fort Worth area by March 31, 2026 or face material breach.

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