AGNT, Inc.: CEO transition announced

What happened

• The filing reports that on Oct 2, 2026 Glenn Sanford confirmed he recommended Leo Pareja to be appointed chief executive officer to facilitate planned leadership succession, and that Mr. Sanford intends to transition from his role as chief executive officer and from all employment positions with the company and its subsidiaries, effective Oct 8, 2026. Mr. Sanford will continue to serve as chairman of the board.
• The board acted by unanimous written consent on Oct 6, 2026 to appoint Leo Pareja as chief executive officer, effective Oct 8, 2026. The company furnished a press release issued Oct 8, 2026.

Key details

• Employment agreement: effective Oct 8, 2026, initial term of 5 years, automatic 1-year renewals unless either party gives at least 90 days’ notice of non-renewal.
• Compensation: annual base salary of $1,800,000; promotional equity grant of a stock option covering 1,060,814 shares at target with performance-based vesting over a 5-year period (0% to 200% of target based on total shareholder return relative to peers) and 573,588 restricted stock units vesting in equal quarterly installments over 3 years.
• Annual equity awards: beginning in 2027, annual award split 50% stock options and 50% restricted stock units; the 2027 annual award has an aggregate grant-date value of $4,897,500; the 2027 option portion is tied to an annual earnings before interest and taxes target.
• Severance and benefits: if terminated by the company without cause or if Mr. Pareja resigns for good reason (other than death or disability), he is entitled to 18 months of continued base salary and COBRA benefits for up to 12 months; certain vesting acceleration and pro-rata vesting provisions apply on change in control, death, disability, or qualifying termination. The company will reimburse reasonable legal fees for negotiation of the agreement and will provide customary senior executive benefits and indemnification.
• Glenn Sanford: upon cessation of employment, Mr. Sanford will be eligible to participate in the company’s non-employee director compensation program on the same terms generally applicable to independent directors; the company anticipates entering a consulting services agreement with Mr. Sanford, which would be disclosed if entered.

Why it may matter

• This filing was made under Item 5.02 (Departure of directors or certain officers; election of directors), which covers changes in officers and directors and related agreements and compensation arrangements. A filing does not show why the insider traded or why the company acted.