XMax raises CEO and top executive salaries
XMax Inc. reported that its Board and Compensation Committee approved amendments to the employment agreements of its three top executives, raising their annual base salaries effective July 1, 2026.
Rhea-AI Filing Summary
XMax Inc. reported that its Board and Compensation Committee approved amendments to the employment agreements of its three top executives, raising their annual base salaries effective July 1, 2026.
Chief Executive Officer Xiaohua Lu’s salary doubled from $80,000 to $160,000 per year. Chief Operating Officer Yizhou (Steven) Zhao’s salary increased from $80,000 to $159,000 per year, and Chief Financial Officer Jeffery Chuang’s salary rose from $70,000 to $80,000 per year. Aside from these salary changes, other terms of the executives’ employment agreements remain the same. The company filed the form of the amendments as an exhibit.
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8-K Event Classification
3 items: 1.01, 5.02, 9.01
3 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
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
CEO base salary (new): $160,000 per year
CEO base salary (prior): $80,000 per year
COO base salary (new): $159,000 per year
+4 more
7 metrics
CEO base salary (new)
$160,000 per year
Xiaohua Lu annual base salary effective July 1, 2026
CEO base salary (prior)
$80,000 per year
Xiaohua Lu annual base salary before amendment
COO base salary (new)
$159,000 per year
Yizhou (Steven) Zhao annual base salary effective July 1, 2026
COO base salary (prior)
$80,000 per year
Yizhou (Steven) Zhao annual base salary before amendment
CFO base salary (new)
$80,000 per year
Jeffery Chuang annual base salary effective July 1, 2026
CFO base salary (prior)
$70,000 per year
Jeffery Chuang annual base salary before amendment
Amendment exhibit number
Exhibit 10.1
Form of Amendment to Employment Agreements dated July 1, 2026
Key Terms
Material Definitive Agreement, Compensation Committee, employment agreements, Emerging growth company, +1 more
5 terms
Material Definitive Agreement regulatory
"Item 1.01 Entry into a Material Definitive Agreement Please see the disclosure set forth under Item 5.02"
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
Compensation Committee financial
"the Compensation Committee of the Board of Directors of XMax Inc. approved the increase of annual salaries"
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 agreements financial
"amendments to the employment agreements of Mr. Xiaohua Lu, Chief Executive Officer of the Company"
Emerging growth company regulatory
"Emerging growth company Securities registered pursuant to Section 12(b) of the Act"
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.
Exhibit 10.1 regulatory
"10.1 | | Form of the Amendment to the Employment Agreements by and between the Company and Executives"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What executive compensation changes did XMax Inc. (XMAX) disclose?
XMax Inc. disclosed amendments to employment agreements for its CEO, COO, and CFO that raise their annual base salaries effective July 1, 2026. All other terms of their agreements remain unchanged according to the current disclosure.
How much did XMax Inc. (XMAX) increase the CEO’s salary?
XMax Inc. increased CEO Xiaohua Lu’s base salary from $80,000 to $160,000 per year. The change became effective July 1, 2026, under an amendment to his employment agreement approved by the Board and Compensation Committee.
What are the new salaries for XMax Inc. (XMAX) COO and CFO?
COO Yizhou (Steven) Zhao’s base salary rose from $80,000 to $159,000 per year, and CFO Jeffery Chuang’s base salary increased from $70,000 to $80,000 per year. Both changes are effective July 1, 2026.
Did XMax Inc. (XMAX) change other terms of the executives’ contracts?
The company stated that, aside from the salary increases, the terms of the executives’ employment agreements remain unchanged. The form of the amendments has been filed as an exhibit and incorporated by reference.
When did the XMax Inc. (XMAX) Board approve the salary amendments?
The Compensation Committee and the full Board of Directors approved the salary increases and related employment agreement amendments on July 1, 2026. The same date marks the effective start of the new base salaries.
AI-generated analysis. How Rhea-AI works. Not financial advice.
