secwatch.observer — SEC 8-K summary
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Issuer:     Snail, Inc. (SNAL)
CIK:        0001886894
Form:       8-K
Filed at:   2024-04-19T23:59:59+00:00
Accession:  0001493152-24-015242
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1886894/000149315224015242/0001493152-24-015242-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1886894/000149315224015242/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-015242

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