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Reliance Global Group, Inc. (NASDAQ:RELI) approved adjustments to director compensation and granted equity awards to executive officers, according to a statement released in a recent SEC filing. The company, which generated revenue of $14.21 million in the last twelve months, currently operates with challenging financial metrics according to InvestingPro data, showing an overall weak financial health score of 1.5 out of 5.
On July 18, the Compensation Committee of the Board of Directors increased annual cash compensation for non-employee directors. Each outside director will now receive a base annual cash retainer of $52,000, effective immediately. Additional annual fees are provided for committee chairs, bringing the total annual cash compensation to $66,000 for Scott Korman (Audit Committee Chair), $63,000 for Ben Fried (Compensation Committee Chair), $60,000 for Sheldon Brickman (Nominating Committee Chair), and $52,000 for Alex Blumenfrucht (non-chair). These figures represent increases from previous annual compensation levels, which ranged from $45,000 to $51,000.
Each of the four non-employee directors was also granted 66,486 restricted stock units (RSUs) under the company’s 2025 Equity Incentive Plan, with a grant date value of $98,000. The RSUs vested in full on July 23.
The Compensation Committee also approved equity awards for the company’s named executive officers on July 18. The following RSU grants were made under the 2025 Equity Incentive Plan: Ezra Beyman, Chief Executive Officer, received RSUs with a grant date value of $1,058,000, representing 717,775 units; Joel Markovits, Chief Financial Officer, received RSUs valued at $315,000, totaling 213,704 units; and Yaakov Beyman, Vice President of Insurance Operations, was granted RSUs valued at $275,000, totaling 186,567 units. The RSUs for executive officers vest in eight equal bi-monthly installments from October 15, 2025, through January 31, 2026.
No bonuses, salary adjustments, or other new compensatory arrangements were approved in connection with these grants, except as previously disclosed.
The information in this article is based on a statement from Reliance Global Group, Inc. filed with the Securities and Exchange Commission. With a current market capitalization of just $4.12 million and negative EBITDA of $2.46 million, these compensation decisions come at a crucial time for the company. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional key insights available to subscribers. For deeper analysis, investors can access the comprehensive Pro Research Report, part of the extensive coverage available for over 1,400 US stocks on InvestingPro.
In other recent news, Reliance Global Group reported a notable financial improvement for the first quarter of 2025, with a net loss reduction of 68%, from $5.3 million in Q1 2024 to $1.7 million in Q1 2025. The company’s adjusted EBITDA also showed positive growth, moving from a negative $74,000 to a positive $145,000. In a separate announcement, Reliance Global Group increased its credit facility with YES Americana Group to $2 million, up from the previous $600,000. This amendment included a revision of the Revolving Note, setting the principal amount payable as the greater of $1,075,064 or the total loans outstanding.
Additionally, Reliance Global Group filed financial statements related to its proposed acquisition of Spetner Associates, providing both audited and unaudited financials for recent years and quarters. The company also signed a non-binding Letter of Intent to sell Fortman Insurance Agency for $5 million in cash, a price that exceeds the original acquisition cost. Furthermore, Reliance Global Group withdrew its S-1 registration, indicating it will not pursue a public offering at this time. These developments reflect the company’s ongoing strategic and financial adjustments.
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