Snail CEO Jim Tsai resigns; Hai Shi and Tony Tian appointed Co-CEOs effective April 15, 2024

Snail, Inc.

Jim Tsai resigned as CEO and from board committees on April 15, 2024, but remains on board and will assist transition through May 15.
Hai Shi (founder, Chairman, CSO) and Xuedong (Tony) Tian appointed Co-CEOs; Tian will receive $300,000 base salary plus performance bonuses in stock and cash.
Tian's bonus includes stock awards tied to stock price milestones: [*****] shares at $[*****] and [*****] shares at $[*****] or greater; also up to [*****]% of capital raised.
Heidy Chow appointed Chair of Nominating and Corporate Governance Committee and member of Compensation Committee, replacing Tsai.

item 5.02 item 9.01

Executive movements

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Appointed

Hai Shi

Co-Chief Executive Officer

SNAL · Snail, Inc.

Effective: 2024-04-15
Filed: April 19, 2024, 7:59 PM ET

On April 15, 2024, in conjunction with Mr. Tsai’s resignation as the Company’s Chief Executive Officer, the Company appointed Hai Shi and Xuedong (Tony) Tian to serve as the Company’s new Co-Chief Executive Officers, effective April 15, 2024.

Departed

Jim S. Tsai

Chief Executive Officer

SNAL · Snail, Inc.

Effective: 2024-04-15
Successor: Hai Shi and Xuedong (Tony) Tian
Filed: April 19, 2024, 7:59 PM ET

On April 15, 2024, Jim S. Tsai notified Hai Shi, the Chairman of the Board of Directors (the “Board”) and Chief Strategy Officer of Snail, Inc. (the “Snail”), of his decision to resign from his position as the Chief Executive Officer of Snail

Appointed

Xuedong (Tony) Tian

Co-Chief Executive Officer

SNAL · Snail, Inc.

Effective: 2024-04-15
Filed: April 19, 2024, 7:59 PM ET

On April 15, 2024, in conjunction with Mr. Tsai’s resignation as the Company’s Chief Executive Officer, the Company appointed Hai Shi and Xuedong (Tony) Tian to serve as the Company’s new Co-Chief Executive Officers, effective April 15, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Hai Shi was appointed as Co-Chief Executive Officer at Snail, Inc..

Action: appointed
Role: Co-Chief Executive Officer

Exact text from the filing

On April 15, 2024, in conjunction with Mr. Tsai’s resignation as the Company’s Chief Executive Officer, the Company appointed Hai Shi and Xuedong (Tony) Tian to serve as the Company’s new Co-Chief Executive Officers, effective April 15, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jim S. Tsai resigned as Chief Executive Officer at Snail, Inc..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On April 15, 2024, Jim S. Tsai notified Hai Shi, the Chairman of the Board of Directors (the “Board”) and Chief Strategy Officer of Snail, Inc. (the “Snail”), of his decision to resign from his position as the Chief Executive Officer of Snail

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Xuedong (Tony) Tian was appointed as Co-Chief Executive Officer at Snail, Inc..

Action: appointed
Role: Co-Chief Executive Officer

Exact text from the filing

On April 15, 2024, in conjunction with Mr. Tsai’s resignation as the Company’s Chief Executive Officer, the Company appointed Hai Shi and Xuedong (Tony) Tian to serve as the Company’s new Co-Chief Executive Officers, effective April 15, 2024.

View on SEC.gov

Snail, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-015242

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