TEN Holdings updates CEO compensation terms
TEN Holdings, Inc. provides additional details on the compensation package for Chief Executive Officer and Chairman Virgilio Torres following his May 8, 2026 appointment.
Rhea-AI Filing Summary
TEN Holdings, Inc. provides additional details on the compensation package for Chief Executive Officer and Chairman Virgilio Torres following his May 8, 2026 appointment. The Compensation Committee increased his annual base salary from $265,000 to $400,000 effective June 30, 2026 and approved a one-time $200,000 cash bonus expected to be paid in 2027.
The package also includes a one-time option to purchase 120,000 shares of common stock at an exercise price of $1.89 per share and a cash-settled performance award of $200,000 tied to performance objectives set out in a Performance Incentive Bonus Agreement dated July 15, 2026.
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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
New base salary: $400,000 per year
Prior base salary: $265,000 per year
One-time cash bonus: $200,000
+4 more
7 metrics
New base salary
$400,000 per year
Annual base salary for CEO Virgilio Torres effective June 30, 2026
Prior base salary
$265,000 per year
Annual base salary for Virgilio Torres before CEO compensation adjustment
One-time cash bonus
$200,000
Cash bonus expected to be paid in 2027 under company bonus practices
Stock options granted
120,000 shares
One-time option grant to purchase common stock for CEO compensation
Option exercise price
$1.89 per share
Exercise price for the 120,000-share stock option grant
Performance award
$200,000
Cash-settled performance award subject to achievement of performance objectives
CEO appointment effective date
May 8, 2026
Date Virgilio Torres became Chief Executive Officer and Chairman
Key Terms
cash-settled performance award, Performance Incentive Bonus Agreement, Compensation Committee, Inline XBRL
4 terms
cash-settled performance award financial
"and a cash-settled performance award of $200,000, subject to the achievement"
Performance Incentive Bonus Agreement financial
"as set forth in the performance incentive bonus agreement attached as Exhibit 10.1"
Compensation Committee financial
"the Compensation Committee of the Board (the “Committee”) approved an increase"
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.
Inline XBRL technical
"Cover Page Interactive Data File – the cover page XBRL tags are embedded within 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 compensation changes did TEN Holdings (XHLD) approve for CEO Virgilio Torres?
TEN Holdings approved a higher base salary of $400,000, a $200,000 one-time cash bonus, a stock option grant for 120,000 shares at $1.89 per share, and a $200,000 cash-settled performance award tied to specific performance objectives.
When do the new CEO salary terms at TEN Holdings (XHLD) take effect?
The increased annual base salary of $400,000 for CEO Virgilio Torres becomes effective on June 30, 2026. His appointment as Chief Executive Officer and Chairman was effective earlier, on May 8, 2026, with incentive elements structured around later dates.
What equity incentives did TEN Holdings (XHLD) grant to CEO Virgilio Torres?
TEN Holdings granted Virgilio Torres a one-time stock option to purchase 120,000 shares of common stock at an exercise price of $1.89 per share. These options are part of his overall CEO compensation package approved by the Compensation Committee.
What cash bonuses are included in the TEN Holdings (XHLD) CEO package?
The package includes a one-time $200,000 cash bonus, expected to be paid in 2027, and a separate $200,000 cash-settled performance award. The performance award is payable only if specified performance objectives are achieved under the bonus agreement.
What is Exhibit 10.1 in the TEN Holdings (XHLD) 8-K/A amendment?
Exhibit 10.1 is a Performance Incentive Bonus Agreement dated July 15, 2026 between Virgilio Torres and TEN Holdings. It sets forth the performance objectives and terms governing the $200,000 cash-settled performance award included in his CEO compensation package.
Does TEN Holdings (XHLD) describe how the CEO performance award is determined?
Yes. TEN Holdings states the $200,000 cash-settled performance award is subject to achievement of performance objectives specified in the Performance Incentive Bonus Agreement attached as Exhibit 10.1, indicating payout depends on meeting those defined metrics.
AI-generated analysis. How Rhea-AI works. Not financial advice.
