Zedge, Inc.: president and chief operating officer employment agreement

What happened Zedge, Inc. filed an 8-K reporting that Jonathan Reich ceased to serve as Chief Executive Officer effective Sep 30, 2026, and, effective Oct 1, 2026, commenced service as President and Chief Operating Officer and entered into an employment agreement with the Company effective Oct 1, 2026. The agreement has a term of 3 years, from Oct 1, 2026 through Sep 30, 2029.

Key details

• annual base salary of $390,000, effective Aug 1, 2026, with an increase of $15,000 on each Jul 31 during the term.
• annual performance bonus of not less than $124,313 for each fiscal year beginning with fiscal year 2026.
• separation pay of up to 2 years of base salary plus a prorated portion of his minimum annual bonus, depending on termination circumstances; full acceleration of vesting of the equity award if terminated by the Company without Cause or if he resigns for Good Reason.
• equity award to be granted within 150 days following Oct 1, 2026, consisting of restricted stock and deferred stock units representing 100,000 shares of Class B common stock; 1/12 vests on the date of grant and the remainder vests in 11 substantially equal quarterly installments, fully vested on Oct 1, 2029.

Why it may matter This report was filed as Item 5.02: Departure of directors or certain officers; election of directors, which covers changes in officers and related employment agreements. The filing does not show why the insider traded or why the company acted.