reAlpha Tech Reports Executive/Director Changes & Compensation
Ticker: AIRE · Form: 8-K · Filed: Feb 1, 2024 · CIK: 1859199
| Field | Detail |
|---|---|
| Company | Realpha Tech CORP. (AIRE) |
| Form Type | 8-K |
| Filed Date | Feb 1, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.001, $225,000, $250,000, $215,000, $8,000,000 |
| Sentiment | mixed |
Complexity: simple
Sentiment: mixed
Topics: executive-changes, corporate-governance, compensation
TL;DR
**reAlpha Tech just announced major executive and director changes, watch for strategic shifts.**
AI Summary
reAlpha Tech Corp. filed an 8-K on February 1, 2024, to report a "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers." This indicates significant changes in the company's leadership or executive compensation structure. For investors, this matters because changes in key personnel or their pay can signal shifts in company strategy, financial health, or governance, potentially impacting future stock performance.
Why It Matters
Changes in leadership and executive compensation can directly influence a company's strategic direction and operational efficiency, which are critical factors for long-term stock value.
Risk Assessment
Risk Level: medium — Changes in leadership can introduce uncertainty, but the specific details of the changes are not yet public, making the exact impact unclear.
Analyst Insight
A smart investor would await further details on the specific personnel changes and compensation arrangements before making any significant investment decisions, as these details will clarify the potential impact on the company's future direction.
Key Numbers
- $0.001 — par value per share (par value of reAlpha Tech Corp.'s Common Stock)
Key Players & Entities
- reAlpha Tech Corp. (company) — the registrant filing the 8-K
- February 1, 2024 (date) — date of earliest event reported
- Delaware (company) — state of incorporation for reAlpha Tech Corp.
- $0.001 (dollar_amount) — par value per share of Common Stock
Forward-Looking Statements
- reAlpha Tech Corp. will announce the names of the departing and newly appointed officers/directors in a subsequent filing or press release. (reAlpha Tech Corp.) — high confidence, target: Q1 2024
- The company's stock price may experience volatility as investors react to the specifics of the leadership changes once they are fully disclosed. (reAlpha Tech Corp. stock) — medium confidence, target: Q1 2024
FAQ
What specific events did reAlpha Tech Corp. report in this 8-K filing?
reAlpha Tech Corp. reported events related to "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers," as well as "Regulation FD Disclosure" and "Financial Statements and Exhibits" on February 1, 2024.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported in this 8-K filing is February 1, 2024.
What is the par value of reAlpha Tech Corp.'s Common Stock?
The par value of reAlpha Tech Corp.'s Common Stock is $0.001 per share.
Where is reAlpha Tech Corp. incorporated?
reAlpha Tech Corp. is incorporated in Delaware.
What is the business address of reAlpha Tech Corp.?
The business address of reAlpha Tech Corp. is 6515 Longshore Loop, Suite 100, Dublin, OH 43017.
Filing Stats: 1,457 words · 6 min read · ~5 pages · Grade level 11.2 · Accepted 2024-02-01 16:31:05
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share AIRE The Nasdaq Stock Mar
- $225,000 — . Frenz is entitled to a base salary of $225,000 (the "Base Salary"), subject to an annu
- $250,000 — ldecoa, which new base salaries will be $250,000, $250,000 and $215,000, respectively, r
- $215,000 — salaries will be $250,000, $250,000 and $215,000, respectively, retroactive to January 1
- $8,000,000 — ing in gross proceeds to the Company of $8,000,000 or more, the base salaries of these exe
Filing Documents
- ea192656-8k_realphatech.htm (8-K) — 38KB
- ea192656ex10-1_realphatech.htm (EX-10.1) — 44KB
- ea192656ex10-2_realphatech.htm (EX-10.2) — 11KB
- ea192656ex10-3_realphatech.htm (EX-10.3) — 13KB
- ea192656ex10-4_realphatech.htm (EX-10.4) — 13KB
- ea192656ex99-1_realphatech.htm (EX-99.1) — 12KB
- ex10-1_001.jpg (GRAPHIC) — 3KB
- ex99-1_001.jpg (GRAPHIC) — 5KB
- 0001213900-24-009015.txt ( ) — 346KB
- aire-20240201.xsd (EX-101.SCH) — 3KB
- aire-20240201_lab.xml (EX-101.LAB) — 33KB
- aire-20240201_pre.xml (EX-101.PRE) — 22KB
- ea192656-8k_realphatech_htm.xml (XML) — 4KB
02 Departure
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Executive Officer Changes and Related Compensation Arrangements On February 1, 2024, the board of directors (the "Board") of reAlpha Tech Corp. (the "Company") appointed Michael J. Logozzo, the Company's then-serving Chief Financial Officer, as its new Chief Operating Officer and President. As a result of his new roles, the Company and Mr. Logozzo entered into an amendment to that certain Employment Agreement dated April 11, 2023 (the "Logozzo Amendment"). On that same date, the Board appointed Michael Frenz to replace Michael J. Logozzo as the Company's Chief Financial Officer (and principal financial and accounting officer) pursuant to an employment offer letter, which sets forth the terms of Mr. Frenz's services as Chief Financial Officer and his compensation arrangement (the "Offer Letter"). The Offer Letter was entered into as of February 1, 2024. Mr. Frenz has been the Company's Senior Vice President of Corporate Finance since September 2023. Previously, he was the Chief Financial Officer of CA Ventures from May 2021 to September 2022, a real estate investment company, where he led financial reporting and capital raising efforts for CA Ventures. Further, from June 2017 to May 2021, Mr. Frenz was the Chief Financial Officer of Clipper Realty Inc. (NYSE: CLPR), a real estate investment trust ("REIT") focused on acquiring, owning and managing multifamily residential and commercial properties in the New York metropolitan area, where he managed financial and investment strategies for the REIT, led financial reporting for the company, including preparation of SEC filings, and directed investor relations strategies related to capital raise efforts. Mr. Frenz holds a Master of Business Administration degree from Columbia Business School and a Bachelor of Science degree from The Wharton School. Pursuant to t
01. Regulation
Item 7.01. Regulation FD Disclosure. On February 1, 2024, the Company issued a press release announcing the appointment of Mr. Frenz as the Company's Chief Financial Officer and the related management changes of the Company. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. 2
01 Financial Statements and
Item 9.01 Financial Statements and Exhibits. Exhibit Number Description 10.1 Offer Letter dated February 1, 2024. 10.2 First Amendment to Employment Agreement of Giri Devanur, dated February 1, 2024. 10.3 First Amendment to Employment Agreement of Michael J. Logozzo, dated February 1, 2024. 10.4 First Amendment to Employment Agreement of Jorge Aldecoa, dated February 1, 2024. 99.1 Press Release dated February 1, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: February 1, 2024 reAlpha Tech Corp. By: /s/ Giri Devanur Giri Devanur Chief Executive Officer 4