Lesaka Technologies (NASDAQ: LSAK) updates Ali Mazanderani employment terms

Q: What are the key terms of Ali Mazanderani’s South African employment contract with Lesaka (LSAK)?

The South African contract runs from July 1, 2026 to June 30, 2028 , extendable to June 30, 2029 . It provides a base salary of ZAR 5,000,000 per annum and covers business travel costs up to ZAR 4,000,000 per financial year , with no bonus eligibility.

Q: Does Lesaka Technologies (LSAK) provide bonuses or severance to Executive Chairman Ali Mazanderani?

Both agreements state that Ali Mazanderani will not be eligible for a short-term cash incentive award or any other bonus program. The U.S. employment agreement does not provide severance benefits , relying instead on a three-month notice period for early termination without cause.

Q: What notice is required to terminate Ali Mazanderani’s U.S. agreement at Lesaka (LSAK)?

Either Lesaka or Ali Mazanderani must give three months’ advance notice to terminate the U.S. employment agreement before June 30, 2029 , in the absence of cause or a material breach. This notice requirement applies symmetrically to both parties under the contract.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Lesaka Technologies, Inc. extended Executive Chairman Ali Mazanderani’s employment agreement, originally effective February 1, 2024, so that it now expires on June 30, 2029, with all other terms unchanged. His commitment is set at fifty percent (50%) of full-time equivalence, with an annual base salary of $600,000, no eligibility for any short-term cash incentive award or other bonus program, no severance benefits, and a three-month mutual notice requirement for termination before June 30, 2029 absent cause or material breach.

Lesaka Technologies Proprietary Limited entered into a separate South African employment agreement with Mr. Mazanderani effective July 1, 2026 through June 30, 2028, which may be extended by written agreement to June 30, 2029. This contract provides an annual base salary of ZAR 5,000,000 and covers business travel costs up to ZAR 4,000,000 per financial year, while also excluding eligibility for short-term cash incentive awards or other bonus programs.

8-K Event Classification

2 items: 5.02, 9.01

2 items

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.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Executive Chairman U.S. base salary: $600,000 per annum Executive Chairman SA base salary: ZAR 5,000,000 per annum SA travel cost cap: ZAR 4,000,000 per financial year +4 more

7 metrics

Executive Chairman U.S. base salary $600,000 per annum Annual base salary under Lesaka Technologies, Inc. employment agreement

Executive Chairman SA base salary ZAR 5,000,000 per annum Annual base salary under Lesaka Technologies Proprietary Limited employment contract

SA travel cost cap ZAR 4,000,000 per financial year Maximum reimbursable business travel costs for Mr. Mazanderani

U.S. agreement expiration June 30, 2029 Expiration date of amended and restated employment agreement

SA agreement term July 1, 2026 to June 30, 2028 Initial duration of South African employment contract, extendable to June 30, 2029

Time commitment 50% of full-time equivalence Defined level of commitment for Executive Chairman role

Notice period three months Advance notice required by either party for early termination of U.S. agreement

Key Terms

amended and restated employment agreement, restrictive covenants, short-term cash incentive award, Emerging growth company, +1 more

5 terms

amended and restated employment agreement regulatory

"On July 30, 2026, Mr. Mazanderani and the Company amended and restated his employment agreement"

restrictive covenants regulatory

"he is subject to certain restrictive covenants and compliance with Company policies"

Restrictive covenants are contract terms that limit what a company, its executives, or shareholders can do—like rules that prohibit selling stock, starting a rival business, or taking on certain debts. Think of them as house rules that protect one party’s interests by keeping risky or competitive actions off the table. For investors they matter because these limits affect a company’s flexibility, governance, potential future value and the ease of exiting an investment.

short-term cash incentive award financial

"will not be eligible for a short-term cash incentive award, or any other bonus program"

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.

Inline XBRL technical

"Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)"

Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.

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

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Understanding 8-K Material Events →

Available on EDGAR 07/30/2026 - 04:06 PM Accepted by SEC EDGAR 07/30/2026 - 04:05 PM

FAQ

How did Lesaka Technologies (LSAK) change Executive Chairman Ali Mazanderani’s U.S. employment term?

Lesaka extended Executive Chairman Ali Mazanderani’s U.S. employment agreement to June 30, 2029, keeping all other terms unchanged. The contract maintains a 50% full-time equivalence commitment, a $600,000 annual base salary, no bonus eligibility, and requires three months’ notice for early termination.

What is Executive Chairman Ali Mazanderani’s compensation under Lesaka Technologies (LSAK) U.S. agreement?

Under the U.S. agreement, Ali Mazanderani receives a base salary of $600,000 per year at 50% full-time equivalence. He will not be eligible for a short-term cash incentive award or any other bonus program, and the agreement provides no severance benefits.

What are the key terms of Ali Mazanderani’s South African employment contract with Lesaka (LSAK)?

The South African contract runs from July 1, 2026 to June 30, 2028, extendable to June 30, 2029. It provides a base salary of ZAR 5,000,000 per annum and covers business travel costs up to ZAR 4,000,000 per financial year, with no bonus eligibility.

Does Lesaka Technologies (LSAK) provide bonuses or severance to Executive Chairman Ali Mazanderani?

Both agreements state that Ali Mazanderani will not be eligible for a short-term cash incentive award or any other bonus program. The U.S. employment agreement does not provide severance benefits, relying instead on a three-month notice period for early termination without cause.

What notice is required to terminate Ali Mazanderani’s U.S. agreement at Lesaka (LSAK)?

Either Lesaka or Ali Mazanderani must give three months’ advance notice to terminate the U.S. employment agreement before June 30, 2029, in the absence of cause or a material breach. This notice requirement applies symmetrically to both parties under the contract.

How is Ali Mazanderani’s time commitment defined in his role at Lesaka Technologies (LSAK)?

The U.S. employment agreement specifies that Ali Mazanderani’s commitment will be fifty percent (50%) of full-time equivalence, as reasonably determined by the Board. He remains subject to restrictive covenants and must comply with applicable company policies throughout the term.

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): July 30, 2026

LESAKA TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)

Florida	000-31203	98-0171860
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

7 Parks Boulevard, Oxford Parks, 1st Floor
Dunkeld, Johannesburg, South Africa 2196
(Address of principal executive offices) (ZIP Code)

Registrant’s telephone number, including area code: 011-27-11-343-2000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation 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 Symbols		Name of each exchange on which registered
Common Shares		LSAK		NASDAQ Global Select Market

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.

(e) Amendment to Existing Employment Agreement and New South African Employment Agreement for Mr. Mazanderani

Lesaka Technologies, Inc. amended and restated employment agreement

On December 4, 2023, Mr. Mazanderani and Lesaka Technologies, Inc. (the “Company”) entered into an employment agreement for his services as Executive Chairman, which became effective on February 1, 2024. On July 30, 2026, Mr. Mazanderani and the Company amended and restated his employment agreement to extend the expiration date to June 30, 2029, with all other terms remaining unchanged. The Company and Mr. Mazanderani acknowledged that Mr. Mazanderani’s commitment shall only be for fifty percent (50%) of full-time equivalence, as reasonably determined by the Board and that he is subject to certain restrictive covenants and compliance with Company policies. Mr. Mazanderani receives an annual base salary of $600,000.

Mr. Mazanderani will not be eligible for a short-term cash incentive award, or any other bonus program implemented by the Company, during the term of his employment agreement. The employment agreement does not provide for any severance benefits. Either party must provide the other party three months advance notice prior to terminating the employment agreement prior to June 30, 2029 in the absence of cause or a material breach.

Lesaka Technologies Proprietary Limited employment agreement

On July 30, 2026, Mr. Mazanderani and the Company’s wholly owned subsidiary, Lesaka Technologies Proprietary Limited (“Lesaka SA”), entered into an employment agreement (“SA Employment Contract”) under which Mr. Mazanderani will accept certain duties, responsibilities, functions and authority in respect of the business conducted by each of the Company’s Consumer, Merchant and Enterprise divisions. The SA Employment Contract is effective from July 1, 2026, and will terminate on June 30, 2028. Under the terms of the SA Employment Contract, Mr. Mazanderani and the Company may agree in writing to extend the termination date to June 30, 2029. Mr. Mazanderani will receive an annual base salary of ZAR 5,000,000 per annum, and Lesaka SA will be responsible for the costs of travel undertaken by Mr. Mazanderani for business purposes, up to a maximum amount of ZAR 4,000,000 per financial year. The SA Employment Contract includes other customary terms and conditions for arrangements of this nature. Mr. Mazanderani will not be eligible for a short-term cash incentive award or any other bonus program implemented by the Company during the term of the SA Employment Contract.

The foregoing description of the agreements with Mr. Mazanderani does not purport to be complete and is qualified in its entirety by reference to the full text of such agreements, which are attached hereto as Exhibits 10.01 - 10.02 and are incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

Exhibits	Description
10.1	Amended and Restated Employment Agreement, dated as of July 30, 2026, between Lesaka Technologies, Inc. and Ali Mazanderani
10.2	Employment Agreement, dated as of July 30, 2026, between Lesaka Technologies (Pty) Ltd and Ali Mazanderani
104	Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

SIGNATURES

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

	LESAKA TECHNOLOGIES, INC.

Date: July 30, 2026	By:	/s/ Dan Smith
	Name:	Dan Smith
	Title:	Group Chief Financial Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

7 documents