TruGolf Holdings, Inc. 8-K

What Happened TruGolf Holdings, Inc. announced it entered an employment letter on May 1, 2026 with Steven Passey to serve as the Company’s Chief Financial Officer effective May 15, 2026. The agreement sets an initial annual base salary of $225,000 for the first three months, which will increase to $250,000 thereafter. Mr. Passey is eligible for annual equity grants under the Company’s stock incentive plans and will participate in standard executive benefits and expense reimbursement.

Key Details

• Effective date: May 15, 2026; Employment letter dated May 1, 2026.
• Compensation: $225,000 annual base salary for initial three months, then $250,000 annually; equity grants subject to Compensation Committee approval.
• Background: Mr. Passey, age 64, is a CPA with a B.S. in Accounting from the University of Utah; recent roles include Group Controller – International Operations at Blackrock Neurotech (Oct 2025–May 2026) and multiple prior CFO/controller positions.
• Disclosures: No related-party transactions or family relationships requiring disclosure were reported.

Why It Matters A new CFO is a material leadership change that affects the company’s financial management, reporting and investor communications. The hire provides experienced financial leadership with both CFO and controller experience across industries, and equity grant eligibility aligns his potential compensation with shareholder outcomes. Investors should note the effective date and compensation terms for context on near-term corporate governance and expense impacts.