AppYea converts $458k unpaid compensation to stock options; director Neil Kline resigns

APPYEA, INC

Chairman Molchadsky converts $139,150 at $0.07/share (1,987,858 shares); CFO Porat converts $154,589 at $0.04/share.
CEO Shemer converts $44,284 at $0.04/share (1,122,239 shares); also granted 6,000,000 options at $0.0001, vesting July 1, 2024.
Remaining $70k (BM) and $50k (AP) unpaid compensation to be paid in 20 monthly installments after $1.5M raise or 7 months positive cash flow.
Director Neil Kline resigned May 14, not due to disagreements; receives 3M restricted shares (750k vested, rest quarterly) as consultant.
All conversions and share issuances are under Israeli tax-qualified stock option plans.

item 1.01 item 5.02

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Departed

Neil Kline

Director

APYP · APPYEA, INC

Effective: 2024-05-14
Filed: May 17, 2024, 7:59 PM ET

On May 14, 2024, Neil Kline notified the board of directors (the "Board") of the Company of his resignation from the Board, effective immediately.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Neil Kline resigned as Director at APPYEA, INC.

Action: resigned
Role: Director

Exact text from the filing

On May 14, 2024, Neil Kline notified the board of directors (the "Board") of the Company of his resignation from the Board, effective immediately.

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APPYEA, INC filing history →

Source: SEC EDGAR

accession 0001493152-24-020364

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