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VisionWave Holdings, Inc. (NASDAQ:VWAV), a small-cap technology company with a market capitalization of $7.65 million, announced Tuesday it has entered into new employment agreements with three executives: Elad Shoval as Chief Revenue Officer, David Allon as Chief Operating Officer, and Jaz Williman as Senior Systems Engineer – UGV. According to InvestingPro analysis, the company currently shows concerning financial health indicators, with a negative Altman Z-Score and a Piotroski Score of 1. The agreements, effective September 2, have an initial term of three years and will automatically renew for one-year periods unless terminated by either party with at least thirty days’ notice.
According to a press release statement based on a recent SEC filing, each executive will receive an initial base salary of $120,000 per year. For Mr. Shoval and Mr. Allon, the base salary increases to $240,000 if the company achieves $10 million in revenue during any 90-day period, and to $360,000 if revenue reaches $60 million in a 90-day period. Mr. Williman’s base salary increases to $200,000 and $300,000 at the same revenue thresholds. Annual performance bonuses are tied to net revenue or net income as stated in the company’s financial statements, with Mr. Shoval eligible for a bonus targeted at 0.05% of net revenue, Mr. Allon at 0.5% of net income, and Mr. Williman at 0.35% of net income.
The agreements also provide for four weeks of paid vacation, participation in company benefit plans, and reimbursement of business expenses. The executive compensation packages come at a critical time for VisionWave, which has seen its stock decline 14.5% over the past year, according to InvestingPro data. If an executive is terminated without cause or resigns for good reason, they are entitled to severance equal to the greater of $600,000 or twice their current base salary, payable within six months, subject to a general release. In the event of a change in control followed by termination within three months, all outstanding equity awards vest immediately and severance is payable.
Each executive also entered into agreements covering proprietary information, inventions assignment, non-solicitation, non-competition, and arbitration.
Under the 2025 Omnibus Equity Incentive Plan, subject to shareholder approval, Mr. Shoval and Mr. Allon were granted options to purchase 500,000 shares each of common stock, and Mr. Williman received options for 250,000 shares. The exercise price is $9.09 per share, with options vesting in twelve equal quarterly installments over four years following shareholder approval of the plan. With the current stock price at $9.55, slightly above the exercise price, and trading at a P/E ratio of -8.03, investors seeking deeper insights into VisionWave’s valuation metrics and growth potential can access comprehensive analysis through InvestingPro, which offers over 30 additional financial metrics and exclusive ProTips.
This information is based on a statement in a press release and an SEC filing.
In other recent news, VisionWave Holdings, Inc. has announced a significant joint venture with Israel-based AIPHEX LTD to develop defense and space technologies. The joint venture, valued internally at approximately $5 billion, will be equally owned by VisionWave and AIPHEX, with smaller stakes held by GBT Tokenize Corp. and GBT Technologies. VisionWave is also exploring opportunities in India’s defense sector, engaging in discussions with local entities to participate in the country’s defense modernization efforts. These discussions aim to tap into India’s substantial defense budget, which exceeds $80 billion annually. In leadership changes, VisionWave’s Chief Operating Officer, Yossi Attia, has resigned for personal reasons. The company has not yet disclosed plans for his replacement. Additionally, the joint venture with AIPHEX and others highlights VisionWave’s strategic focus on defense and technology projects.
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