Endovia Health Sciences Hires Interim CEO and COO with Equity, Bonus Plan

What Happened

• Endovia Health Sciences, Inc. (EDVA) filed an 8-K on August 26, 2026 announcing employment agreements for Brady Cobb (Interim CEO) and Michael Bondurant (Interim COO).
• Base salaries: Mr. Cobb at $300,000 per year and Mr. Bondurant at $275,000 per year.
• Each agreement includes cash and equity incentives tied to market-cap milestones and performance, plus option grants and potential restricted stock unit (RSU) awards (subject to shareholder approval).

Key Details

• Cash milestone bonuses: $50,000 if market capitalization increases by $5 million (measured on or before Oct 30, 2026 using the 3-day average closing price); an additional $50,000 if market capitalization increases by $10 million (measured on or before Dec 31, 2026 using the 3-day average).
• Additional market-cap bonus: 3% of all additional market capitalization above the $10 million threshold achieved during calendar 2026, with a maximum aggregate bonus of $300,000 (based on the highest 3-day average market cap from the agreement date through Dec 31, 2026).
• Equity grants: Mr. Cobb received 231,250 stock options; Mr. Bondurant received 200,000 stock options. Subject to shareholder approval, each will be entitled to receive RSUs equal to 7% of a 20% pool of the company’s fully diluted shares previously approved by the board.
• Vesting acceleration: if the executive is terminated without cause or a change of control occurs, all unvested options and/or RSUs issued to that executive will vest. Both may also be eligible for annual performance bonuses tied to revenue and profit targets.

Why It Matters

• Leadership and incentives: appointing interim CEO and COO is a material executive change; investors should note who is running day-to-day operations and how they are being compensated.
• Potential dilution and costs: the option grants, prospective RSU awards and the 20% share pool may dilute existing shareholders if exercised/issued; milestone and performance bonuses could increase near-term cash or equity compensation expense.
• Timing focus: several bonuses are tied to market-cap increases before year-end 2026, creating explicit near-term goals that could influence corporate actions or communications. The agreements also provide standard protection for executives on termination or change of control, which can affect the company’s obligations in such events.

Exhibits (filed): Employment Agreements for Brady Cobb and Michael Bondurant (Exhibits 10.1 and 10.2).