On January 1, 2024, Collective Audience, Inc., a Delaware-incorporated company listed on the Nasdaq Stock Market, filed a Form 8-K with the SEC to report the entry into a material definitive agreement with Chris Andrews, the company's Chief Operating Officer. The agreement, known as the Andrews Agreement, has an initial one-year term with automatic annual renewals, subject to certain termination conditions. It includes provisions for an annual base salary of $120,000, set to increase to $216,000 after ten months, an annual bonus contingent on company performance, and equity incentive compensation of 40,000 stock options. Additionally, the agreement outlines severance benefits and health coverage continuation under COBRA in case of termination without cause. Concurrently, the Board approved the 2024 Equity Incentive Plan, subject to...Show More

On January 1, 2024, Collective Audience, Inc., a Delaware-incorporated company listed on the Nasdaq Stock Market, filed a Form 8-K with the SEC to report the entry into a material definitive agreement with Chris Andrews, the company's Chief Operating Officer. The agreement, known as the Andrews Agreement, has an initial one-year term with automatic annual renewals, subject to certain termination conditions. It includes provisions for an annual base salary of $120,000, set to increase to $216,000 after ten months, an annual bonus contingent on company performance, and equity incentive compensation of 40,000 stock options. Additionally, the agreement outlines severance benefits and health coverage continuation under COBRA in case of termination without cause. Concurrently, the Board approved the 2024 Equity Incentive Plan, subject to shareholder approval, which reserves 2.5 million shares of common stock for employee, consultant, and director incentives. The plan includes various forms of awards, such as stock options and restricted stock units, with specific terms and conditions for eligibility, vesting, and exercise. The plan will be in effect for ten years unless terminated earlier by the Board.