AppTech Payments Corp. 8-K

What Happened On May 4, 2026, AppTech Payments Corp. announced that its Board designated Albert L. Lord as Executive Chairman. As a result, Mr. Lord will no longer be considered an independent director under applicable governance standards and will step down from the Compensation Committee. At the same Board meeting the company ratified employment arrangements formalizing continuing roles for Thomas DeRosa as Chief Executive Officer and Anthony Shall as Chief Operating Officer.

Key Details

• Board action date: May 4, 2026.
• Albert L. Lord designated Executive Chairman; loses independent director status and resigns from the Compensation Committee.
• Thomas DeRosa employment arrangement: continues as CEO, annual base salary $384,000, eligible for discretionary bonus and participation in equity incentive and employee benefit plans.
• Anthony Shall employment arrangement: continues as COO, annual base salary $240,000, eligible for discretionary bonus and participation in equity incentive and employee benefit plans.

Why It Matters The filing reflects a governance shift (an executive chair role and a reduction in the Board’s count of independent directors) and formalizes compensation and retention terms for the company’s top two executives. For investors, these actions clarify leadership structure and management cost commitments (salaries and bonus/equity eligibility) but do not disclose additional compensation amounts, severance, or term lengths. Monitor future filings (e.g., proxies or 10‑Q/10‑K) for further details on governance, independence, and any related executive compensation disclosures.