secwatch.observer — SEC 8-K summary
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Issuer:     Vystar Corp (VYST)
CIK:        0001308027
Form:       8-K
Filed at:   2024-07-26T23:59:59+00:00
Accession:  0001493152-24-029286
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vystar enters employment agreement with President/CEO Jamie Rotman; $180K salary in stock with 50% discount
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- Employment agreement retroactive to Jan 1, 2024 formalizes $180K salary payable in Series C Preferred or common stock at 50% discount to 20-day average (floor $0.01) or cash.
- Signing bonus of $25K in Series C Preferred shares, vesting 25% immediately, 25% Oct 31 2024, 50% Dec 31 2024; stock trading at $0.0055 as of June 18.
- Severance: 52 weeks salary if terminated without cause; 24 months salary if change in control; requires signed separation agreement and release.
- Stock incentives: monthly salary in restricted shares with 50% discount; $25K bonus shares convertible 1:1000 into common.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1308027/000149315224029286/0001493152-24-029286-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1308027/000149315224029286/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-029286

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