OFA Group: CFO resigns and new CFO appointed

What happened

• The filing says the Board accepted Ernest Yeung’s resignation as the Company’s Chief Financial Officer, effective Sep 30, 2026.
• The filing says the Board approved the appointment of Eugene M. Johnston as the Company’s Chief Financial Officer, effective Oct 1, 2026, and that the Company entered into an Executive Employment Agreement dated Sep 30, 2026, effective Oct 1, 2026.

Key details

• The CFO Agreement has an initial term of 2 years from Oct 1, 2026, extendable for 1 year by mutual consent; Base Salary of $150,000; annual cash bonus eligibility of 0% to 20% of Base Salary beginning with the fiscal year ending Mar 31, 2027.
• Equity and benefits: initial option to purchase 60,000 Class A ordinary shares and eligibility for an annual option to purchase up to 50,000 Class A ordinary shares at the Compensation Committee’s discretion; participation in senior executive benefit plans and reimbursement of business expenses.
• Termination and other terms: Company may terminate for cause immediately; Mr. Johnston may resign for good reason with 30 days’ written notice; either party may terminate without cause with 30 days’ written notice; severance benefits are provided under stated conditions; the agreement contains customary confidentiality, intellectual property, and non-solicit provisions.
• Background: Mr. Johnston, age 62, has served as CFO of 1776 Acquisition Corp since Nov 2025 and as CFO of Mangoceuticals, Inc. since Oct 2022; prior roles include Manager at L&L CPAs, PA and Audit Manager at Greentree Financial Group, Inc. (Feb 2017 to Sep 2026) and owner of Johnston Consulting Group (Jan 2005 to Feb 2017).

Why it may matter

• The filing reports Item 5.02 (Departure of directors or certain officers; election of directors), which covers officer departures and appointments and related employment terms.
• This filing does not show why the insider traded or why the company acted.