Soluna Holdings enters into new employment agreements with CEO Michael Toporek and MTI President Moshe Binyamin

Soluna Holdings, Inc

CEO Michael Toporek: 3-year term, $300K base salary, target bonus 33.33% of base, plus existing LTI option for 500K shares at $6.84.
MTI President Moshe Binyamin: 24-month term, $180,350 base salary, eligible for performance bonuses and change-in-control payment.
Toporek eligible for outperformance awards based on market capitalization growth targets; each triggered at $100M incremental market cap.
Both agreements provide severance: 12 months salary and health coverage upon termination without cause or resignation for good reason.

item 5.02 item 9.01

Executive movements

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Role change

Moshe Binyamin

President and Chief Executive Officer of MTI

SLNH · Soluna Holdings, Inc

Effective: 2022-01-20
Filed: January 21, 2022, 6:59 PM ET

the Board elected Mr. Binyamin, MTI’s then current President, to the offices of President and Chief Executive Officer of MTI.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Moshe Binyamin was elected as President and Chief Executive Officer of MTI at Soluna Holdings, Inc.

Action: elected
Role: President and Chief Executive Officer of MTI

Exact text from the filing

the Board elected Mr. Binyamin, MTI’s then current President, to the offices of President and Chief Executive Officer of MTI.

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Soluna Holdings, Inc filing history →

Source: SEC EDGAR

accession 0001753926-22-000098

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