KeyStar Corp. CEO John Linss resigns; Mark Thomas appointed CEO with $380K salary and 1M option grant

VIP Play, Inc.

John Linss resigned as CEO, President, and CTO effective Jan 10, 2023; gets 6 months base salary, $425K bonus, $15K expense reimbursement.
KeyStar to purchase Linss' 3,313,333 Series C Preferred shares for $2M ($300K cash, balance via 5% note due on listing or 24 months).
Mark Thomas, previously CMO/CPO, appointed CEO, President, and CTO with annual salary of $380K; milestones may raise total comp to $500K+.
Board to recommend granting Thomas option to purchase 1M common shares, vesting over 4 years (25% after one year, monthly thereafter).
Linss agrees to one-year non-compete and non-solicitation within the US; releases all claims against KeyStar.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

John Linss

Chief Executive Officer, President and Chief Technology Officer

VIPZ · VIP Play, Inc.

Effective: 2023-01-10
Successor: Mark Thomas
Filed: January 17, 2023, 6:59 PM ET

Effective January 10, 2023, Mr. John Linss (“ Linss ”) resigned as a member of the KeyStar Corp., a Nevada corporation (the “ Company ”), board of directors (the “ Board ”) and as the Company’s Chief Executive Officer, Principal Executive Officer, President and Chief Technology Officer pursuant to the terms of a Separation Agreement and Release dated the same date (the “ Separation Agreement ”).

Appointed

Mark Thomas

Chief Executive Officer, Principal Executive Officer, President and Chief Technology Officer

VIPZ · VIP Play, Inc.

Effective: 2023-01-10
Filed: January 17, 2023, 6:59 PM ET

On January 10, 2023, the Board appointed Mark Thomas (“ Thomas ”) as the new Chief Executive Officer, Principal Executive Officer, President and Chief Technology Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

John Linss resigned as Chief Executive Officer, President and Chief Technology Officer at VIP Play, Inc..

Action: resigned
Role: Chief Executive Officer, President and Chief Technology Officer

Exact text from the filing

Effective January 10, 2023, Mr. John Linss (“ Linss ”) resigned as a member of the KeyStar Corp., a Nevada corporation (the “ Company ”), board of directors (the “ Board ”) and as the Company’s Chief Executive Officer, Principal Executive Officer, President and Chief Technology Officer pursuant to the terms of a Separation Agreement and Release dated the same date (the “ Separation Agreement ”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark Thomas was appointed as Chief Executive Officer, Principal Executive Officer, President and Chief Technology Officer at VIP Play, Inc..

Action: appointed
Role: Chief Executive Officer, Principal Executive Officer, President and Chief Technology Officer

Exact text from the filing

On January 10, 2023, the Board appointed Mark Thomas (“ Thomas ”) as the new Chief Executive Officer, Principal Executive Officer, President and Chief Technology Officer of the Company.

View on SEC.gov

VIP Play, Inc. filing history →

Source: SEC EDGAR

accession 0001393905-23-000025

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