secwatch.observer — SEC 8-K summary
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Issuer:     CIMG Inc. (CIMG)
CIK:        0001527613
Form:       8-K
Filed at:   2021-07-07T23:59:59+00:00
Accession:  0001493152-21-016299
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NuZee appoints Patrick Shearer as CFO; CEO granted performance-based options
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- Patrick Shearer named CFO effective July 2, 2021; base salary $250,000 with 50% target bonus.
- Shearer received 200,000 stock options at $3.12/share, vesting over three years.
- Outgoing CFO Shanoop Kothari to resign by Aug 16, 2021; 50,737 restricted shares accelerate upon timely 10-Q filing.
- CEO Masateru Higashida awarded $75,000 deferred bonus for FY2020; FY2022 bonus target $105,000, max $210,000.
- CEO granted up to 896,743 performance-based options at $3.12/share tied to earnings targets for FY2022-2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1527613/000149315221016299/0001493152-21-016299-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1527613/000149315221016299/form8k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-016299

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