Reliance Global Group Files 8-K on Officer Changes, Compensation

TL;DR

**RELI filed an 8-K hinting at executive changes and compensation updates, stay tuned for details.**

AI Summary

Reliance Global Group, Inc. filed an 8-K on January 31, 2024, reporting events that occurred on January 25, 2024. This filing is a routine disclosure of current report information, specifically under Item 5.02 regarding 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' and Item 9.01 for 'Financial Statements and Exhibits'. The filing itself does not detail specific changes in officers or compensation, but rather indicates that such information would be provided. For investors, this matters because changes in leadership or executive compensation can signal shifts in company strategy or financial health, impacting future stock performance.

Why It Matters

This filing signals potential upcoming news regarding executive leadership or compensation, which can influence investor perception and the company's strategic direction. Investors should monitor for subsequent detailed disclosures.

Risk Assessment

Risk Level: low — This 8-K is a procedural filing indicating future disclosures, not a direct announcement of significant positive or negative events, thus posing low immediate risk.

Analyst Insight

A smart investor would add Reliance Global Group, Inc. (RELI) to their watchlist and await further detailed disclosures regarding any specific changes in officers or compensation arrangements, as this filing only signals the category of events without providing specifics.

Key Players & Entities

• Reliance Global Group, Inc. (company) — the registrant filing the 8-K
• January 25, 2024 (date) — date of earliest reported event
• January 31, 2024 (date) — date the 8-K was filed
• 001-40020 (other) — Commission File Number for Reliance Global Group, Inc.
• 46-3390293 (other) — IRS Employer Identification Number for Reliance Global Group, Inc.

FAQ

Key Financial Figures

• $0.086 — nge on which Registered Common Stock, $0.086 par value per share RELI The Nasdaq
• $425,000 — r. Beyman will receive a base salary of $425,000 and receive an equity award every year

Filing Documents

• form8-k.htm (8-K) — 48KB
• ex10-1.htm (EX-10.1) — 185KB
• 0001493152-24-004415.txt ( ) — 478KB
• reli-20240125.xsd (EX-101.SCH) — 4KB
• reli-20240125_def.xml (EX-101.DEF) — 26KB
• reli-20240125_lab.xml (EX-101.LAB) — 36KB
• reli-20240125_pre.xml (EX-101.PRE) — 25KB
• form8-k_htm.xml (XML) — 6KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest reported): January 25, 2024 Reliance Global Group, Inc. (Exact name of registrant as specified in its charter) Florida 001-40020 46-3390293 (State or other jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification Number) 300 Blvd. of the Americas , Suite 105 , Lakewood , NJ 08701 (Address of principal executive offices) (732) 380-4600 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.) Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CF$ 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange on which Registered Common Stock, $0.086 par value per share RELI The Nasdaq Stock Market LLC (The Nasdaq Capital Market) Series A Warrants to purchase shares of Common Stock, par value $0.086 per share RELIW The Nasdaq Stock Market LLC (The Nasdaq Capital Market) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 25, 2024, Reliance Global Group, Inc. (the "Company") entered into an Executive Employment Agreement (the "Agreement") with Ezra Beyman to serve the Company's Chief Executive Officer. Mr. Beyman has served as the Company's Chief Executive Officer, and Chairman of the Company's Board of Directors, since 2018. Under the Agreement, Mr. Beyman will receive a base salary of $425,000 and receive an equity award every year on the first day of the annual term (the "Annual Equity Award"). Pursuant to the terms of the Agreement, Mr. Beyman also is eligible for discretionary bonuses as determined by the Board of Directors. Pursuant to the terms of the Agreement, the Annual Equity Award will be a number of shares of the Company's common stock in an amount equal in value to 50% of his then-applicable base salary. The value of the common stock in the Annual Equity Award will be determined by the Company's Compensation Committee of the Board, will be granted pursuant to the Company's 2023 Equity Incentive Plan, or any renewal or replacement thereof (the "Plan"), and will be fully vested upon issuance. Any Annual Equity Award will only be deemed earned, due and payable pursuant to there being sufficient available share capacity (determined by the Compensation Committee) in the Plan. The Agreement has an initial term of two years, and provides that the term will be automatically extended for another two-year term, unless either the Company or Mr. Beyman provides notice to the other of their desire to not so renew the initial term or renewal term (as applicable) at least 30 days prior to the expiration of then-current initial term or renewal term (as applicable). Mr. Beyman's employment is "at will" meaning that either Mr. Beyman or the Company may terminate his employment at any time and for any reason, subject to the other provisions of the Agreement. The Agreement may be terminated by the Company, either with or without "Cause" (as such term is defined in the Agreement), or by Mr. Beyman, either with or without "Good Reason" (as such term is defined in the Agreement). The effects of a termination are as set forth in the Agreement. The Agreement contains customary confidentiality provisions, and customary provisions related to Company ownership of intellectual property conceived or made by Mr. Beyman in connection with the performance of his duties under the Agreement (i.e., a "work-for-hire" provision). The Agreement also contains a customary three-year non-solicitation provision. The Agreement contains customary representations and warranties b

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View this 8-K filing on SEC EDGAR