Twin Vee boosts VP Preston Yarborough salary
Twin Vee PowerCats Co. reported a change in executive compensation.
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Form Type
8-K
Rhea-AI Filing Summary
Twin Vee PowerCats Co. reported a change in executive compensation. On April 21, 2026, the Board’s Compensation Committee approved increasing the base salary of Vice President Preston Yarborough to $250,000 per year. On April 22, 2026, the Company signed an amendment to his July 23, 2021 employment agreement to reflect this higher salary and replace a prior June 27, 2024 amendment. The amendment is filed as an exhibit to this report.
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, or exhibit attachments filed with this report.
Key Figures
Base salary: $250,000 per annum
Compensation approval date: April 21, 2026
Amendment date: April 22, 2026
+1 more
4 metrics
Base salary
$250,000 per annum
Vice President Preston Yarborough’s updated base salary
Compensation approval date
April 21, 2026
Date Compensation Committee approved salary increase
Amendment date
April 22, 2026
Date Company entered into Yarborough Amendment
Original agreement effective date
July 23, 2021
Effective date of original employment agreement
Key Terms
Emerging growth company, Compensation Committee, employment agreement, inline XBRL
4 terms
Emerging growth company regulatory
"Emerging growth company Item 5.02."
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.
Compensation Committee financial
"the Compensation Committee of the Board of Directors (the “Committee”)"
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.
employment agreement financial
"the employment agreement, effective as of July 23, 2021"
inline XBRL technical
"Cover Page Interactive Data File (the cover page XBRL tags are embedded within in the inline XBRL document)"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What executive compensation change did Twin Vee PowerCats (VEEE) disclose?
Twin Vee PowerCats disclosed that its Compensation Committee approved an increase in Vice President Preston Yarborough’s base salary to $250,000 per year. The change is documented in a new amendment to his employment agreement, replacing a prior amendment dated June 27, 2024.
When did Twin Vee PowerCats (VEEE) approve Preston Yarborough’s salary increase?
The Compensation Committee approved Preston Yarborough’s salary increase on April 21, 2026. The Company then executed the related amendment to his employment agreement on April 22, 2026, formally updating his contract terms to reflect the new $250,000 annual base salary.
Who is the Twin Vee PowerCats (VEEE) executive affected by this 8-K filing?
The filing concerns Preston Yarborough, Vice President of Twin Vee PowerCats. His employment agreement, originally effective July 23, 2021, has been amended to raise his base salary to $250,000 per year and supersede an earlier June 27, 2024 amendment.
What agreement did Twin Vee PowerCats (VEEE) amend for Preston Yarborough?
Twin Vee PowerCats amended Preston Yarborough’s employment agreement, which was originally effective July 23, 2021. The April 22, 2026 amendment reflects his new $250,000 base salary and terminates the prior amendment dated June 27, 2024, consolidating his current compensation terms.
Which exhibits accompany Twin Vee PowerCats’ (VEEE) April 2026 8-K?
The 8-K includes Exhibit 10.1, the Amendment to Employment Agreement between Twin Vee PowerCats and Preston Yarborough dated April 22, 2026, and Exhibit 104, the cover page interactive data file with inline XBRL tags embedded in the electronic version of the report.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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