Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 17, 2025, eXp World Holdings, Inc. (the “Company”) announced the appointment of Jesse Hill as Interim Chief Financial Officer (“CFO”) and principal financial officer of the Company, effective April 1, 2025.
Mr. Hill, 37, has been a key member of the Company’s financial leadership team, currently serving as Vice President, International Finance & Corporate FP&A of eXp Realty, LLC, a wholly owned subsidiary of the Company, since November 2024. Prior to this role, Mr. Hill held several finance leadership positions at the Company, including Senior Director of Finance, eXp Global & Corporate FP&A (July 2021 – November 2024), Director of Finance, Virbela/FRAME (January 2021 – July 2021), Finance Manager, US Realty and Virbela/FRAME (March 2020 – January 2021), and Senior Financial Analyst, US Realty (March 2019 – March 2020). Before joining the Company, Mr. Hill was a Senior Financial Analyst at General Motors Company (April 2018 – March 2019), a Financial Analyst II at Nissan Motor Corporation (January 2016 – April 2018), and held multiple finance roles at The Walt Disney Company (June 2011 – September 2014). Mr. Hill holds a Bachelor of Science in Business Administration with a focus in Finance from the University of Central Florida.
Mr. Hill does not have any familial relationships with any executive officer or director of the Company. Mr. Hill is not a party to any transaction required to be disclosed under Item 404(a) of Regulation S-K, and there is no arrangement or understanding between Mr. Hill and any other person pursuant to which he was selected to serve as Interim CFO.
In connection with Mr. Hill’s appointment as the Company’s Interim CFO, the Board of Directors of the Company approved and the Company agreed to provide the following compensatory arrangements with Mr. Hill: annual base salary of $450,000, effective April 1, 2025; a one-time award of options to purchase common stock of the Company (“Common Stock”) with a grant date fair value of $150,000; and a one-time award of restricted stock units with a grant date fair value of $150,000 that, upon vesting, will settle in shares of Common Stock on a one-for-one basis. The option award and restricted stock unit award are expected to be granted on or around March 14, 2025. The option award will have an exercise price equal to the closing stock price of a share of Common Stock on the grant date (or, if there is no sale of Common Stock on such date, then on the trading day immediately preceding the grant date), will be eligible to vest in equal quarterly installments over a three-year period following the grant date, and will otherwise be subject to the term and conditions of the eXp World Holdings, Inc. 2024 Equity Incentive Plan (the “Plan”) [and the corresponding award agreement]. The restricted stock unit award will be eligible to vest in quarterly installments over a three-year period following grant date, with 30% of the award vesting over the first one-year period, 30% of the award vesting over the second one-year period, and the remaining 40% of the award vesting over the third one-year period. The restricted stock unit award will otherwise be subject to the term and conditions of the Plan [and the corresponding award agreement]. Vesting of options and restricted stock units under the awards are subject to Mr. Hill’s continued service through each applicable vest date.
Item 7.01Regulation FD Disclosure.
On March 17, 2025, the Company issued a press release announcing Jesse Hill’s appointment as Interim CFO of the Company. A copy of the Company’s press release is attached hereto as Exhibit 99.1.
The information in this Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing or other document by the Company under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing or document, except as expressly set forth by specific reference in such filing or document.
Item 9.01Financial Statements and Exhibits.
(d) Exhibits.
