KeyStar submits TN sports wagering license; CEO gets performance bonuses tied to revenue milestones

VIP Play, Inc.

CEO Mark Thomas receives $380K annual salary; eligible for performance bonuses up to $500K+ total comp based on Board-set milestones.
Thomas gets $50K cash bonus if KeyStar receives a TN sports betting license; $100K bonus for other new jurisdictions (capped at 0.01% of trailing 12-month handle).
If FY2022-2023 net loss is below $6.197M, Thomas earns 8% of the difference as a cash bonus.
KeyStar submitted TN sports wagering license application for ZenSports; TN had $440.4M handle and $49M revenue in Dec 2022.

item 1.01 item 5.02 item 7.01 item 9.01

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Appointed

Mark Thomas

Chief Executive Officer

VIPZ · VIP Play, Inc.

Effective: 2023-01-10
Filed: February 10, 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

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Executive change SEC 8-K Item 5.02 confidence 0.95

Mark Thomas was appointed as Chief Executive Officer at VIP Play, Inc..

Action: appointed
Role: Chief Executive 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.

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VIP Play, Inc. filing history →

Source: SEC EDGAR

accession 0001393905-23-000054

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