Starfighters Space: reports CEO raise to $350,000 and CFO to $300,000

What happened Starfighters Space reported that on Sep 28, 2026 the compensation committee and the board approved increases to the annual base salaries of Tim Franta, the chief executive officer, and David Whitney, the chief financial officer, and approved related back pay amounts. The filing states Mr. Franta's base salary was increased from $108,000 to $350,000 and Mr. Whitney's base salary was increased from $180,000 to $300,000.

Key details

• Mr. Franta's new annual base salary: $350,000; maximum annual bonus: up to 50% of the new base salary.
• Mr. Whitney's new annual base salary: $300,000; maximum annual bonus: up to 30% of the new base salary.
• Any portion of a maximum bonus payable in excess of $75,000 shall be paid 65% in cash and 35% in restricted share units (RSUs), with such RSUs vesting in equal installments over 3 years from the grant date.
• The committee and the board approved back pay equal to the difference between amounts actually paid and amounts that would have been payable at the new salaries: for Mr. Franta from Mar 1, 2026 through Sep 28, 2026, and for Mr. Whitney from Jun 24, 2026 through Sep 28, 2026.

Why it may matter This Item 5.02 filing reports departures or elections of directors or certain officers and related compensation actions; here it covers approval of increased executive compensation and approved back pay amounts. The filing does not show why the insider traded or why the company acted.