Nvidia and TSMC to unveil first domestic wafer for Blackwell chips, Axios reports
Zapata Quantum, Inc. (NASDAQ:ZPTA) announced a series of board appointments and compensatory arrangements, according to a statement filed with the Securities and Exchange Commission.
On October 8, the company appointed William Klitgaard to its Board of Directors and named him as the sole member of the Audit Committee. In connection with his appointment, Mr. Klitgaard received a grant of 1,000,000 stock options with a five-year term, vesting in equal monthly increments over two years at an exercise price of $0.08 per share. He will also receive annual cash compensation of $100,000 for his service as director and an additional $25,000 per year for chairing the Audit Committee, subject to continued service.
On October 9, Zapata Quantum appointed Clark Golestani, already a director, as Chairman of the Board. Mr. Golestani was granted 1,000,000 five-year stock options at an exercise price of $0.08 per share, vesting monthly over two years, contingent on continued service.
Also on October 9, the company appointed its Chief Executive Officer, Sumit Kapur, to the Board of Directors. Mr. Kapur was granted 1,000,000 five-year stock options with an exercise price of $0.08 per share, vesting monthly over two years. In addition, for his role as CEO, Mr. Kapur received 5,000,000 five-year stock options at the same exercise price, vesting in equal monthly installments over four years, subject to continued employment.
The company stated there were no arrangements or understandings with other persons regarding the selection of Mr. Klitgaard or Mr. Kapur as directors. There are no related party transactions between the company and either individual requiring disclosure under SEC regulations.
The unregistered sales of equity securities related to these option grants were made in reliance on exemptions provided by Section 4(a)(2) of the Securities Act of 1933 and Rule 506(b).
This information is based on a press release statement filed with the SEC.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.