secwatch.observer — SEC 8-K summary
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Issuer:     APPYEA, INC (APYP)
CIK:        0001568969
Form:       8-K
Filed at:   2024-05-17T23:59:59+00:00
Accession:  0001493152-24-020364
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1568969/000149315224020364/0001493152-24-020364-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1568969/000149315224020364/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-020364

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