Eastern International (NASDAQ: ELOG) taps new audit, pay chiefs
Rhea-AI Filing Summary
Eastern International Ltd. (ELOG) reported that its Board of Directors appointed K. Brice “Rick” Toussaint and Bin Zhou as new directors effective August 18, 2026. Toussaint was named Chairman of the Audit Committee and joined the Nominating and Corporate Governance and Compensation Committees. Zhou was appointed Chairman of the Compensation Committee and joined the Audit and Nominating and Corporate Governance Committees.
The Board determined that both Toussaint and Zhou qualify as independent directors under NASDAQ Rule 5605(a)(2), and that Toussaint is an audit committee financial expert under NASDAQ Rule 5605(c)(2)(A). Each entered into a director agreement providing US$2,500 per month in compensation, payable quarterly, plus expense reimbursement and customary confidentiality and non-disclosure obligations.
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Key Figures
Appointment date: August 18, 2026
Director cash compensation: US$2,500 per month
Age of K. Brice “Rick” Toussaint: 55
+3 more
6 metrics
Appointment date
August 18, 2026
Date Toussaint and Zhou were appointed to the Board and committees
Director cash compensation
US$2,500 per month
Monthly compensation for each of Toussaint and Zhou under their director agreements
Age of K. Brice “Rick” Toussaint
55
Age disclosed for new director Toussaint
Age of Bin Zhou
47
Age disclosed for new director Zhou
Year CPA certification
2000
Year Toussaint was certified as a CPA in the State of Texas
Director agreement exhibit number
10.1
Form of Director Agreement attached as Exhibit 10.1
Key Terms
independent directors, audit committee financial expert, Nominating and Corporate Governance Committee, Compensation Committee, +1 more
5 terms
independent directors regulatory
"The Board deems Mr. Toussaint and Mr. Zhou the “independent directors” as defined"
Members of a company’s board who do not have significant business, family, or financial ties to the company and are not part of its management; they are chosen to provide impartial oversight of strategy, financial reporting, executive pay and risk. They matter to investors because independent directors act like an objective referee, helping ensure decisions favor shareholders’ long-term interests rather than insiders, which can strengthen trust and reduce the chance of mismanagement or conflicts of interest.
audit committee financial expert regulatory
"and Mr. Toussaint an “audit committee financial expert” as defined by NASDAQ Rule"
A person on a company’s board who has deep knowledge of accounting, financial reporting and auditing, able to understand and question the books, controls and audit work like a trained mechanic inspecting an engine. Investors care because that expertise helps spot errors, weaknesses or misleading statements early, improving the likelihood that financial reports are accurate and reducing the risk of surprises that can hurt a company’s value.
Nominating and Corporate Governance Committee regulatory
"and a member of the Nominating and Corporate Governance Committee and the"
A nominating and corporate governance committee is a group within a company's board of directors responsible for selecting and recommending individuals to serve as company leaders, such as directors or executives. They also develop and oversee policies to ensure the company is run fairly, ethically, and transparently. This committee matters to investors because it helps ensure the company is well-managed and guided by qualified, responsible leadership.
Compensation Committee regulatory
"was also appointed as the Chairman of the Compensation Committees of the Board"
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
Form 6-K regulatory
"FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16"
A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.
FAQ
What board changes did Eastern International Ltd. (ELOG) announce in this 6-K?
K. Brice “Rick” Toussaint and Bin Zhou were appointed as new members of the Board of Directors on August 18, 2026. Toussaint and Zhou also received specific committee roles, including chair positions on the Audit and Compensation Committees, respectively.
What committee roles did the new directors of ELOG receive?
K. Brice “Rick” Toussaint became Chairman of the Audit Committee and a member of the Nominating and Corporate Governance and Compensation Committees. Bin Zhou became Chairman of the Compensation Committee and a member of the Audit Committee and the Nominating and Corporate Governance Committee.
How much are the new Eastern International Ltd. (ELOG) directors being paid?
Under their director agreements, each of K. Brice “Rick” Toussaint and Bin Zhou will receive US$2,500 per month, payable quarterly, plus reimbursement of expenses. The agreements also include customary confidentiality and non-disclosure obligations.
Are the new ELOG directors considered independent under NASDAQ rules?
Yes. The Board determined that both K. Brice “Rick” Toussaint and Bin Zhou are “independent directors” as defined by NASDAQ Rule 5605(a)(2). The Board also determined that Toussaint is an “audit committee financial expert” under NASDAQ Rule 5605(c)(2)(A).
Do the new Eastern International Ltd. (ELOG) directors have any family or appointment arrangements?
The company stated there are no arrangements or understandings with any other person leading to the appointments and no family relationships between either Toussaint or Zhou and any director or executive officer of the company.
What prior experience does K. Brice “Rick” Toussaint bring to the ELOG board?
Toussaint, age 55, owns Rick Toussaint MBA CPA LLC, has chaired the audit committee of Bit Origin Limited, and serves as Chairman, CEO, and CFO of Frontera Group, Inc. He has been a certified CPA in Texas since 2000 and holds accounting and MBA degrees.
What is Bin Zhou’s background before joining the Eastern International Ltd. (ELOG) board?
Bin Zhou, age 47, has been Managing Partner and Attorney-of-Law of Bin Zhou Attorneys and Associates PC since 2019, previously worked at Bernard & Yam, LLP from 2006 to 2019, and holds degrees in Economic Laws, Social Work, and a Juris Doctor.
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