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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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Item 1.01 Entry into a Material Definitive Agreement.
On August 19, 2025, Global Gas Corporation (the “Company”) entered into a settlement agreement (the “Settlement Agreement”) by and among (i) the Company, Global Hydrogen Energy LLC (“Global Hydrogen”) and Dune Acquisition Holdings LLC (collectively referred to as the “Global Parties”) and (iii) William Bennet Nance, Jr., Sergio Martinez, Barbara Guay Martinez, and Pan American Enterprises, Inc. (collectively referred to as the “Pan Am Parties”).
Pursuant to the Settlement Agreement, among other things, William Nance agreed to forfeit 2,000,000 shares of the Company’s Class B common stock, Sergio Martinez agreed to forfeit 350,000 shares of the Company’s Class B shares of common stock, and Barbara Guay Martinez agreed to forfeit 350,000 shares of the Company’s Class B common stock.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In a Current Report on Form 8-K filed by the Company on June 21, 2024, the Company announced that it terminated William Nance for “Cause,” as defined in the Employment Agreement, dated as of May 14, 2023, as amended, between Mr. Nance and Global Hydrogen Energy LLC (the “Employment Agreement”). Attached as Exhibit 99.1 to this Current Report on Form 8-K is Mr. Nance’s response to that filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number | Description of Exhibit | |
| 99.1 | Response from William Nance | |
| 104 | Cover page interactive data file (embedded within the Inline XBRL document). |
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SIGNATURES
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.
| GLOBAL GAS CORPORATION | ||
| Date: August 20, 2025 | By: | /s/ Michael Castaldy |
| Name: | Michael Castaldy | |
| Title: | Director, Authorized Signatory | |
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