---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-015242"
form_type: "8-K"
ticker: "SNAL"
cik: "0001886894"
company_name: "Snail, Inc."
filed_at: "2024-04-19T23:59:59+00:00"
generated_at: "2026-06-03T16:53:17.442286+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-24-015242
- form_type: 8-K
- ticker: SNAL
- cik: 0001886894
- company_name: Snail, Inc.
- filed_at: 2024-04-19T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1886894/000149315224015242/0001493152-24-015242-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1886894/000149315224015242/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-015242
- JSON: https://secwatch.observer/filing/0001493152-24-015242.json
- Plain text: https://secwatch.observer/filing/0001493152-24-015242.txt

## Key facts
- Executive change
  Hai Shi was appointed as Co-Chief Executive Officer at Snail, Inc..
  - Action: appointed
  - Role: Co-Chief Executive Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1886894/000149315224015242/0001493152-24-015242-index.htm
- Executive change
  Jim S. Tsai resigned as Chief Executive Officer at Snail, Inc..
  - Action: resigned
  - Role: Chief Executive Officer
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1886894/000149315224015242/0001493152-24-015242-index.htm
- Executive change
  Xuedong (Tony) Tian was appointed as Co-Chief Executive Officer at Snail, Inc..
  - Action: appointed
  - Role: Co-Chief Executive Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1886894/000149315224015242/0001493152-24-015242-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.