Safe and Green Development Corporation (SGD) has released an update to notify the public and investors about its officers.
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On February 2, 2024, a company’s compensation committee decided to raise the salaries of CEO David Villarreal to $450,000 and CFO Nicolai Brune to $302,000, backdated to November of the previous year. Additionally, both executives saw an immediate vesting of their outstanding restricted stock units and were awarded a cash bonus equivalent to three weeks’ salary for their 2023 contributions, with the specific payout timing left to management’s discretion. These compensation changes were formalized through amendments to their employment agreements.
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For a comprehensive understanding of the announcement, you can read the full document here.