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Chilean Cobalt Corp. (COBA) raises CEO and CFO salaries and bonuses

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Chilean Cobalt Corp. updated the compensation of two senior executives effective August 2026. The Board increased Chief Executive Officer Duncan T. Blount’s annual base salary from $150,000 to $162,000 and raised his monthly maximum allowable reimbursement for medical premiums from $2,083 to $2,583. Chief Financial Officer Jim Van Horn’s annual base salary increased from $112,000 to $124,000. The Board also approved a $7,000 discretionary bonus for each of Mr. Blount and Mr. Van Horn to be paid in the current month.

Positive

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  • None.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
CEO new base salary $162,000 Annual base salary for CEO Duncan T. Blount beginning August 2026
CEO prior base salary $150,000 Annual base salary for CEO before August 2026 change
CFO new base salary $124,000 Annual base salary for CFO Jim Van Horn beginning August 2026
CFO prior base salary $112,000 Annual base salary for CFO before August 2026 change
CEO medical reimbursement cap $2,583 per month New monthly maximum allowable reimbursement for CEO medical premiums
Prior medical reimbursement cap $2,083 per month Previous monthly maximum allowable reimbursement for CEO medical premiums
Executive bonus $7,000 Discretionary bonus approved for each of the CEO and CFO
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
discretionary bonus financial
"approved payment of a $7,000 discretionary bonus"
principal executive offices regulatory
"(Address of principal executive offices)"

FAQ

What executive compensation changes did COBA approve in August 2026?
Chilean Cobalt Corp. approved salary increases and one-time bonuses for its CEO and CFO. CEO Duncan T. Blount’s pay rose to $162,000, CFO Jim Van Horn’s to $124,000, and each received a $7,000 discretionary bonus.

How much did Chilean Cobalt Corp. (COBA) increase the CEO’s salary?
The CEO’s annual base salary increased by $12,000, from $150,000 to $162,000. This change is effective beginning with August 2026 and is accompanied by a higher medical premium reimbursement limit.

What change was made to COBA CEO’s medical premium reimbursement?
The CEO’s monthly maximum allowable reimbursement for medical premiums increased from $2,083 to $2,583. This adjustment applies beginning with August 2026 and represents an increase of $500 per month.

How did Chilean Cobalt Corp. adjust the CFO’s compensation?
The CFO’s annual base salary rose from $112,000 to $124,000, effective with August 2026. In addition, the Board approved a $7,000 discretionary bonus for CFO Jim Van Horn in the current month.

Did COBA’s executives receive bonuses under this 8-K disclosure?
Yes, the Board approved a $7,000 discretionary bonus for each of the CEO and CFO. These bonuses are scheduled to be paid in the current month alongside the updated base salary levels.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): August 7, 2026

 

CHILEAN COBALT CORP.

(Exact name of registrant as specified in its charter)

 

Nevada   333-268335   82-3590294

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(I.R.S. Employer

Identification Number)

 

1199 Lancaster Ave, Suite 107

Berwyn, Pennsylvania 19312

(Address of principal executive offices)

 

(484) 580-8697

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions.

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class  

Trading Symbol(s)

   Name of each exchange on which registered
None.        

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

   

 

 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On August 7, 2026, the Board of Directors (the “Board”) of Chilean Cobalt Corp. (the “Company”) approved certain changes to the compensation packages of Duncan T. Blount, the Company’s Chief Executive Officer, President and Chairperson of the Board, and Jim Van Horn, the Company’s Chief Financial Officer, effective with the current month.

 

Beginning with the month of August 2026, (i) Mr. Blount’s annual base salary will increase from $150,000 to $162,000; (ii) Mr. Blount’s monthly maximum allowable reimbursement for medical premiums will increase from $2,083 per month to $2,583; and (iii) Mr. Van Horn’s annual base salary will increase from $112,000 to $124,000. In addition, the Board approved payment of a $7,000 discretionary bonus to each of Mr. Blount and Mr. Van Horn in the current month.

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  CHILEAN COBALT CORP
   
Dated: August 13, 2026 By: /s/ Duncan T. Blount
  Name: Duncan T. Blount
  Title: Chief Executive Officer

 

 

 

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Source: View Original Filing on SEC EDGAR

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