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Borealis Foods (BRLS) has provided an update.
On July 8, 2024, the Company appointed Reza Soltanzadeh as its CEO with an employment agreement effective the same day. Under the terms, Soltanzadeh will earn a minimum base salary of $500,000 annually, with the potential for discretionary bonuses and equity incentives equivalent to 1% of the Company’s issued and outstanding Common Shares. Additionally, the agreement includes a 12-month non-competition clause post-termination and stipulates severance benefits, including a year’s salary and health benefits, in case of no-cause termination or termination with good reason.
For a thorough assessment of BRLS stock, go to TipRanks’ Stock Analysis page.