TC Biopharm Awards Bonuses to CEO and CFO
Ticker: TCBWF · Form: 6-K · Filed: Oct 11, 2024 · CIK: 1872812
Sentiment: neutral
Topics: executive-compensation, bonus, management
TL;DR
TC BioPharm paying CEO & CFO $125k bonus each on Sept 2nd.
AI Summary
On September 2, 2024, TC Biopharm (Holdings) PLC's board of directors approved a one-time bonus of $125,000 for both CEO Bryan Kobel and CFO Martin Thorp. This decision was made in relation to their roles and the company's performance.
Why It Matters
This filing indicates a financial commitment to key executives, potentially reflecting confidence in leadership or a reward for past performance.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of executive compensation and does not present immediate financial or operational risks.
Key Numbers
- $125,000 — Bonus per Executive (One-time bonus granted to CEO and CFO.)
- $250,000 — Total Bonus Payout (Aggregate of bonuses for CEO and CFO.)
Key Players & Entities
- TC Biopharm (Holdings) PLC (company) — Registrant
- Bryan Kobel (person) — Chief Executive Officer
- Martin Thorp (person) — Chief Financial Officer
- $125,000 (dollar_amount) — Bonus amount per executive
- September 2, 2024 (date) — Date of board approval
FAQ
What was the specific reason for granting these bonuses?
The filing states the bonuses were granted 'in relation to their roles' but does not provide further specific details on the exact performance metrics or achievements that triggered the bonuses.
When was the decision to grant the bonuses made?
The board of directors agreed to grant the bonuses on September 2, 2024.
Who are the recipients of the bonuses?
The bonuses were granted to Bryan Kobel, the Chief Executive Officer, and Martin Thorp, the Chief Financial Officer.
What is the total amount of bonuses paid out?
The total amount paid out in bonuses to the CEO and CFO is $250,000 ($125,000 each).
Is this a recurring bonus or a one-time payment?
The filing specifies that this was a 'one time bonus'.
Filing Stats: 254 words · 1 min read · ~1 pages · Grade level 20 · Accepted 2024-10-11 16:05:26
Key Financial Figures
- $125,000 — agreed to (a) grant a one time bonus of $125,000 to each of Bryan Kobel and Martin Thorp
- $75,000 — Chair of the Compensation Committee, to $75,000 per year, effective during the quarter
- $65,000 — the Chairman of the Audit Committee, to $65,000 per year, effective during the quarter
Filing Documents
- form6-k.htm (6-K) — 16KB
- 0001493152-24-040893.txt ( ) — 17KB
From the Filing
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of September 2024 Commission File Number 001-41231 TC BIOPHARM (HOLDINGS) PLC (Translation of registrant’s name into English) Maxim 1, 2 Parklands Way Holytown, Motherwell, ML1 4WR Scotland, United Kingdom +44 (0) 141 433 7557 (Address of Principal Executive Offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F On September 2, 2024, the board of directors of TC Biopharm (Holdings) PLC (the “Company”) agreed to (a) grant a one time bonus of $125,000 to each of Bryan Kobel and Martin Thorp, the chief executive officer and chief financial officer of the Company, respectively, payable in the next routine payroll, (b) increase the compensation for Arlene Morris, the Chairwoman of the Board and Chair of the Compensation Committee, to $75,000 per year, effective during the quarter ended September 30, 2024 and (c) increase the compensation for James Culverwell, the Chairman of the Audit Committee, to $65,000 per year, effective during the quarter ended September 30, 2024. -2- Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. TC BIOPHARM (HOLDINGS) PLC By: /s/ Martin Thorp Name: Martin Thorp Title: Chief Financial Officer Date: October 11, 2024 -3-