Olenox Industries (NASDAQ: OLOX) hires Kimberly Hawley as interim CFO on fixed-term deal
Rhea-AI Filing Summary
Olenox Industries, Inc. appointed Kimberly Hawley, age 57, as Interim Chief Financial Officer effective July 24, 2026, under an employment agreement with an initial term from July 6, 2026 through December 31, 2026. The agreement provides an annual base salary of $250,000 and a restricted stock grant of $50,000 in common stock, vesting quarterly on a pro-rata basis over the next 18 months of continuous service. Hawley will remain Executive Vice President, Chief Financial Officer and Treasurer of Vivakor, Inc., is bound by one-year post-termination non-compete and non-solicit covenants and confidentiality provisions, and has no disclosed family relationships or related-party transactions with Olenox.
Positive
- None.
Negative
- None.
Insights
Analyzing...
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
Annual Base Salary: $250,000
Restricted Stock Grant: $50,000
Initial Employment Term: July 6, 2026 to December 31, 2026
+4 more
7 metrics
Annual Base Salary
$250,000
Compensation for Interim Chief Financial Officer role under employment agreement
Restricted Stock Grant
$50,000
Value of common stock granted under Stock Incentive Plan, vesting over 18 months
Initial Employment Term
July 6, 2026 to December 31, 2026
Fixed initial term for Interim CFO position
Vesting Period
18 months
Pro-rata quarterly vesting period for restricted stock grant with continuous service
Experience
More than 30 years
Executive financial leadership experience across multiple sectors
Long-term Financing Executed
More than $120 million
Long-term financing secured by Kimberly Hawley for major infrastructure projects
Post-termination Non-compete
1 year
Duration of non-compete and non-solicit obligations after termination
Key Terms
Interim Chief Financial Officer, restricted stock grant, Stock Incentive Plan, non-compete, +2 more
6 terms
Interim Chief Financial Officer financial
"appointed Kimberly Hawley as the Company’s Interim Chief Financial Officer"
An interim chief financial officer is a temporary leader responsible for managing a company's financial activities, such as budgeting, financial planning, and reporting, during a transitional period. Think of it as filling in for a key manager until a permanent replacement is found. For investors, this role is important because it ensures financial stability and clear guidance during times of change or uncertainty.
restricted stock grant financial
"and a restricted stock grant under the Company’s Stock Incentive Plan"
A restricted stock grant is an award of company shares given to an employee or executive that cannot be sold or transferred until certain conditions are met, such as staying with the company for a set time or hitting performance goals. For investors, it signals how the company ties pay to future performance and can affect the number of shares outstanding and management’s incentives—think of it as a wrapped gift you only keep once you meet the requirements.
Stock Incentive Plan financial
"a restricted stock grant under the Company’s Stock Incentive Plan for $50,000"
A stock incentive plan is a company program that gives employees or directors pieces of ownership or the right to buy shares over time, similar to receiving a bonus paid in company stock instead of cash. Investors pay attention because these plans align staff incentives with long‑term company performance but can also dilute existing shareholders and affect reported profits when grants are expensed, so they influence both ownership percentages and financial results.
non-compete regulatory
"Ms. Hawley is subject to a one-year post-termination non-compete and non-solicit"
A non-compete is a contract clause that prevents an employee, executive, or seller from working for or starting a rival business for a set time and area after leaving a company. It matters to investors because it protects the value of intellectual property, customer relationships and key personnel—like putting a temporary fence around a company’s customers and know‑how—while also creating legal and operational constraints that can affect talent mobility and deal attractiveness.
non-solicit regulatory
"one-year post-termination non-compete and non-solicit of the Company’s employees"
Item 404(a) of Regulation S-K regulatory
"required to be disclosed pursuant to Item 404(a) or Regulation S-K"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What executive change did Olenox Industries (OLOX) announce on July 24, 2026?
Olenox Industries appointed Kimberly Hawley as its Interim Chief Financial Officer effective July 24, 2026. She is engaged under a fixed-term employment agreement running through December 31, 2026, with specified cash and equity compensation.
What are the key compensation terms for OLOX interim CFO Kimberly Hawley?
Kimberly Hawley will receive an annual base salary of $250,000 and a $50,000 restricted stock grant. The stock grant vests quarterly on a pro-rata basis over 18 months of continuous service under Olenox’s Stock Incentive Plan.
How long is Kimberly Hawley’s initial term as Interim CFO of Olenox Industries (OLOX)?
Her employment agreement covers an initial term from July 6, 2026 through December 31, 2026. During this period she serves as Interim Chief Financial Officer under the specified compensation and restrictive covenant provisions.
Does OLOX interim CFO Kimberly Hawley keep her role at Vivakor, Inc.?
Yes. The disclosure states that Kimberly Hawley will continue in her current role as Executive Vice President, Chief Financial Officer and Treasurer of Vivakor, Inc. while serving as Interim Chief Financial Officer of Olenox Industries.
Are there non-compete or non-solicit obligations in OLOX’s agreement with Kimberly Hawley?
Yes. Kimberly Hawley is subject to a one-year post-termination non-compete and non-solicit of Olenox’s employees and clients. She is also bound by confidentiality provisions under the employment agreement.