TEN Holdings, Inc.: CFO resigns; interim CFO appointed

What happened TEN Holdings, Inc. filed an 8-K reporting that on Sep 30, 2026 Mr. Virgilio D. Torres and the board mutually agreed Mr. Torres would step down as Chief Financial Officer, principal financial officer and principal accounting officer of the Company, effective immediately, in order to focus on his responsibilities as Chief Executive Officer of the Company. The filing says Mr. Torres’ resignation was not due to any disagreement with the Company, its management, or the Board on any matter relating to the Company’s operations, policies or practices.

The filing reports the board appointed Mr. Ian Lawson, a Managing Director at Everest Advisors LLC (“Everest”), to serve as Interim Chief Financial Officer, principal financial officer and principal accounting officer of the Company, effective Sep 30, 2026. The Company entered into a consulting agreement dated Sep 30, 2026 with Everest under which the Company will pay Everest $4,000 per month and will reimburse Mr. Lawson directly for reasonable travel and other incidental expenses consistent with the other executives of the Company and subject to the Company’s expense reimbursement policy. The consulting agreement may be terminated by the Company or Everest upon 30 days written notice.

Key details

• Resignation and appointment effective Sep 30, 2026.
• Departing officer: Virgilio D. Torres; new interim officer: Ian Lawson (Managing Director, Everest Advisors LLC).
• Consulting Agreement dated Sep 30, 2026: $4,000 per month plus reimbursement of reasonable travel and incidental expenses.
• Consulting Agreement may be terminated by either party upon 30 days written notice; a copy is filed as Exhibit 10.1 to the Form 8-K.

Why it may matter This Form 8-K reports Item 5.02 (departure of certain officers and appointment of an interim officer) and Item 1.01 (entry into a material definitive agreement) describing the Consulting Agreement for interim CFO services. The filing does not show why the insider traded or why the company acted.