White River Energy (WTRV) just unveiled an update.
White River Energy Corp’s Board of Directors has approved significant executive compensation changes, including raising the CEO and CFO’s annual salaries to $1 million effective May 1, 2024, and offering them a 1% royalty on sales of certain tax credits. Livio Stan has been appointed as an executive officer with a $350,000 salary, car and phone allowances, and a substantial equity incentive of 4,230,000 RSUs vesting over five years. Additionally, non-employee directors received a grant of 250,000 RSUs each, with an amended plan to deliver shares promptly post-vesting. Furthermore, the Senior VP of Mergers and Acquisitions’ salary was increased to $225,000, despite being the CEO’s son-in-law. The company also granted 1,775,000 RSUs to certain employees, emphasizing ongoing equity-based incentives tied to continued service.
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