secwatch.observer — SEC 8-K summary
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Issuer:     Empery Digital Inc. (EMPD)
CIK:        0001829794
Form:       8-K
Filed at:   2024-02-05T23:59:59+00:00
Accession:  0001683168-24-000670
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 3.01, 3.03, 5.03, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Volcon appoints new CEO, effects 1:45 reverse stock split, cites Nasdaq non-compliance
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- John Kim appointed CEO/president effective Feb 3, 2024; annual base salary $800K, $250K bonus, 10% fully diluted option grant.
- 1:45 reverse stock split effective Feb 2, 2024; shares reduced from ~52.5M to ~1.2M; CUSIP changed.
- CFO Greg Endo new employment: base salary $300K (voluntarily reduced to $238.5K through Dec 2024), annual option grant of 4% fully diluted.
- Former CEO Jordan Davis resigned Feb 2; entered one-month consulting agreement for $12,500.
- Company notified Nasdaq of non-compliance with independence rules due to Kim's appointment; must regain compliance by next annual meeting or 180 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829794/000168316824000670/0001683168-24-000670-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829794/000168316824000670/volcon_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-000670

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