Newton Golf adds independent director Gregg Hemphill
Newton Golf Company, Inc. announced that its Board of Directors appointed Gregg Hemphill as a new independent director, effective May 19, 2026.
Rhea-AI Filing Summary
Newton Golf Company, Inc. announced that its Board of Directors appointed Gregg Hemphill as a new independent director, effective May 19, 2026. He will serve until the 2026 annual stockholders’ meeting and has been named to the Audit, Compensation, and Nominating and Corporate Governance Committees.
Hemphill will be compensated under the company’s non-employee director program, which includes a $30,000 annual cash retainer and an annual grant of RSUs valued at $37,500. In addition, he received a one-time initial RSU award with a grant date fair value of $30,000, all vesting after 12 months. The company states there are no related-party relationships or special arrangements tied to his selection.
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8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
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.
Key Figures
Annual cash retainer: $30,000
Annual RSU grant value: $37,500
Initial RSU award value: $30,000
+2 more
5 metrics
Annual cash retainer
$30,000
Non-employee director cash compensation, payable quarterly in arrears
Annual RSU grant value
$37,500
Grant date fair value of yearly director RSUs under 2022 Plan
Initial RSU award value
$30,000
One-time RSU grant to Gregg Hemphill on May 19, 2026
Hemphill term end marker
2026 annual meeting
Director to serve until 2026 annual stockholders’ meeting
RSU vesting period
12 months
Annual and initial RSU awards vest 12 months after grant date
Key Terms
independent director, restricted stock units, Amended and Restated 2022 Equity Incentive Plan, Audit Committee, +2 more
6 terms
independent director financial
"The Board determined that Mr. Hemphill qualifies as an independent director pursuant to the Listing Rules of The Nasdaq Stock Market LLC"
An independent director is a member of a company's board of directors who is not involved in the company's day-to-day operations and has no significant relationships with the company that could influence their judgment. Their role is to provide unbiased oversight and ensure the company is managed in the best interests of all shareholders. This helps build trust and confidence among investors by promoting transparency and accountability.
restricted stock units financial
"an annual grant of restricted stock units (“RSUs”) under the Company’s Amended and Restated 2022 Equity Incentive Plan"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Amended and Restated 2022 Equity Incentive Plan financial
"under the Company’s Amended and Restated 2022 Equity Incentive Plan (the “2022 Plan”)"
Audit Committee financial
"The Board also has appointed Mr. Hemphill to serve on the Audit Committee of the Board"
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
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.
Item 404(a) of Regulation S-K regulatory
"required to be reported under Item 404(a) of Regulation S-K"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What board change did Newton Golf Company (NWTG) announce?
Newton Golf Company added Gregg Hemphill to its Board of Directors as an independent director. He will serve until the 2026 annual stockholders’ meeting and has been appointed to the Audit, Compensation, and Nominating and Corporate Governance Committees.
How will new director Gregg Hemphill be compensated at Newton Golf Company (NWTG)?
Gregg Hemphill will receive a $30,000 annual cash retainer and annual restricted stock unit grants with a grant date fair value of $37,500. These RSUs are issued under the company’s 2022 Equity Incentive Plan and vest 12 months after the grant date.
Did Gregg Hemphill receive any initial equity award from Newton Golf Company (NWTG)?
Yes, on May 19, 2026, Gregg Hemphill received an initial RSU award with a grant date fair value of $30,000. This initial grant, like the annual director RSUs, will vest on the 12-month anniversary of the grant date under the 2022 Equity Incentive Plan.
Is Gregg Hemphill considered an independent director at Newton Golf Company (NWTG)?
The Board determined that Gregg Hemphill qualifies as an independent director under Nasdaq Listing Rules and SEC regulations. This means he meets specific independence standards regarding relationships with the company and its management, supporting stronger corporate governance practices.
Which board committees will Gregg Hemphill serve on at Newton Golf Company (NWTG)?
Gregg Hemphill has been appointed to three key board committees: the Audit Committee, the Compensation Committee, and the Nominating and Corporate Governance Committee. These assignments give him oversight roles in financial reporting, executive pay, and board governance matters.
AI-generated analysis. How Rhea-AI works. Not financial advice.
