UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) Material Compensatory Plan, Contract or Arrangement
On March 14, 2025, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of RYVYL Inc. (the “Company”), approved and ratified, pursuant to a unanimous written consent, the following material compensatory plan, contract or arrangement: (i) salary increase to $375,000, retroactive to January 1, 2025, for Mr. George Oliva, the Chief Financial Officer of the Company; and (ii) a one-time grant of restricted stock unit awards (the “RSAs”) of the Company’s common stock, par value $0.001 per share, to each of Mr. Ben Errez, the Executive Vice President and Chairman, for 380,000 RSAs, Mr. Fredi Nisan, the Chief Executive Officer, for 380,000 RSAs, and Mr. Oliva, for 272,000 RSAs, amongst other employees of the Company, pursuant to the Company’s 2023 Amended and Restated Equity Incentive Plan. The RSAs were granted on April 8, 2025, vest over a period between May 15, 2025, and February 18, 2028, and have a grant date value of $300,200, $300,200, and $214,880, for each of Mr. Errez, Mr. Nisan, and Mr. Oliva, respectively.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: April 10, 2025 | RYVYL Inc. | ||
| By: | /s/ Fredi Nisan | ||
| Name: | Fredi Nisan | ||
| Title: | Chief Executive Officer | ||
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