Streamex Corp. 8-K

What Happened

• Streamex Corp. filed an 8‑K (May 4, 2026) reporting that on April 28, 2026 the board appointed Mitchell Young Williams (the Company’s Chief Investment Officer) as a non‑independent director through the 2026 annual meeting.
• The company also amended employment agreements for three executives: Mitchell Young Williams (effective April 6, 2026), CEO Karl Henry McPhie (effective May 1, 2026), and Interim Executive Chairman Morgan Lekstrom (effective May 1, 2026). Key compensation terms include base salaries, incentive awards, and severance/benefits provisions.

Key Details

• Mitchell Y. Williams: annual base salary $350,000; 2026 minimum bonus $100,000; granted 1,250,000 restricted stock units (RSUs) + 1,000,000 special‑incentive RSUs. RSUs vest in 16 equal quarterly installments starting July 1, 2026 and accelerate on protected termination or change in control. If terminated without cause or for good reason, Williams receives 12 months’ salary, 12 months’ health coverage, prorated bonus and accelerated vesting.
• Karl H. McPhie (CEO): annual base salary $350,000 (effective April 1, 2026) plus $31,250 one‑time adjustment for Jan–Apr 2026; up to 50% of salary may be paid in GLDY. Awarded 1,500,000 Performance Stock Units (5 tranches of 300,000) that vest on cumulative GLDY sales milestones of $250M, $500M, $1B, $2B and $3B; tranches vest on protected termination or change in control and forfeit after 10 years. Minimum 2026 bonus $100,000; market‑cap milestone bonuses also included (large one‑time payouts and share awards if market cap thresholds of $50B, $100B or $500B are achieved), subject to plan limits and law.
• Morgan Lekstrom (Interim Executive Chairman): mirror terms to McPhie — $350,000 annual base (effective Feb 9, 2026), up to 50% payable in GLDY, 1,500,000 PSUs with same GLDY milestones and market‑cap bonus structure, similar severance and protections.

Why It Matters

• These actions affect corporate governance (CIO added to the board) and executive incentives. Large equity awards (RSUs and PSUs) and market‑cap milestone bonuses could create future dilution if they vest or are paid in shares.
• PSUs tie executive pay to GLDY sales milestones and extreme market‑cap targets, aligning management incentives with product sales growth but also creating potentially significant contingent compensation obligations.
• Severance and change‑in‑control acceleration provisions increase potential near‑term cash and equity costs in the event of terminations or a sale. The full agreements are filed as exhibits to the 8‑K for investors who want complete terms.