secwatch.observer — SEC 8-K summary
======================================

Issuer:     VerifyMe, Inc. (VRME)
CIK:        0001104038
Form:       8-K
Filed at:   2024-07-05T23:59:59+00:00
Accession:  0001214659-24-012000
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VerifyMe CEO and CFO take 10% salary reduction, get RSUs at $1.60/share
-----------------------------------------------------------------------

- CEO Adam Stedham and CFO Nancy Meyers each agreed to 10% annual base salary reduction effective July 1, 2024 through Dec 31, 2025.
- In exchange, they receive RSU grants on July 1, 2024 and each Jan 1 thereafter; number of shares = salary reduction amount divided by $1.60.
- RSUs vest fully on Jan 1 following grant; pro-rata vesting on termination (except for cause); unvested RSUs forfeited on cause termination.
- Salary reduction does not affect bonus calculations; bonuses continue based on pre-reduction base salary.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1104038/000121465924012000/0001214659-24-012000-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1104038/000121465924012000/e732438k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-24-012000

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