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reAlpha Tech | 8-K: Current report

SEC announcement ·  Feb 2 05:33
Summary by Futu AI
On February 1, 2024, reAlpha Tech Corp. announced significant changes to its executive team. Michael J. Logozzo, previously the Chief Financial Officer, has been appointed as the new Chief Operating Officer and President. Concurrently, Michael Frenz has been named the new Chief Financial Officer, succeeding Logozzo. Frenz, who joined reAlpha in September 2023 as Senior Vice President of Corporate Finance, brings a wealth of experience from his previous roles, including as CFO of CA Ventures and Clipper Realty Inc. His compensation includes a base salary of $225,000 with the potential for discretionary bonuses and equity awards. Additionally, Jorge Aldecoa, the former COO, has transitioned to the role of Chief Product Officer. The executive compensation amendments for Logozzo, Aldecoa, and CEO Giri Devanur include discretionary...Show More
On February 1, 2024, reAlpha Tech Corp. announced significant changes to its executive team. Michael J. Logozzo, previously the Chief Financial Officer, has been appointed as the new Chief Operating Officer and President. Concurrently, Michael Frenz has been named the new Chief Financial Officer, succeeding Logozzo. Frenz, who joined reAlpha in September 2023 as Senior Vice President of Corporate Finance, brings a wealth of experience from his previous roles, including as CFO of CA Ventures and Clipper Realty Inc. His compensation includes a base salary of $225,000 with the potential for discretionary bonuses and equity awards. Additionally, Jorge Aldecoa, the former COO, has transitioned to the role of Chief Product Officer. The executive compensation amendments for Logozzo, Aldecoa, and CEO Giri Devanur include discretionary bonuses and eligibility for Long-Term Incentive (LTI) Awards, with base salary adjustments retroactive to January 1, 2024. These changes follow a successful public offering that raised over $8 million, triggering the salary adjustments as per the terms of their employment agreements. The company also issued a press release on the same day to publicly announce these appointments.

This announcement is a separate document:

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