08/24/2026 | Press release | Distributed by Public on 08/24/2026 14:06
Item 5.02. Compensatory Arrangements of Certain Officers.
On August 21, 2026, the Compensation Committee of the Board of Directors (the "Committee") of Twin Vee PowerCats Co. ("Company") revised the base salary of Joseph Visconti, the Company's Chief Executive Officer and President, to $250,000.
Additionally, Mr. Visconti shall be eligible to receive a bonus payment of $150,000 related to the successful completion and closing of the Agreement and Plan of Merger with USFM Corporation dated July 12, 2026 ("Merger Agreement"). In the event the Merger Agreement is successful and closes, the Company shall pay this bonus within ten (10) days of closing.