09/30/2026 | Press release | Distributed by Public on 09/30/2026 15:01
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 29, 2026, the Board of Directors (the "Board") of Virtuix Holdings Inc. (the "Company") approved a supplemental, discretionary grant of 100,000 restricted stock units ("RSUs") to the Company's Chief Financial Officer, Thomas McGinnis, effective immediately (the "Date of Grant"), pursuant to the Virtuix Holdings Inc. 2025 Omnibus Incentive Plan (the "Equity Plan").
Under the applicable award agreement, the RSUs will vest over a four-year period, with 25% of the RSUs vesting on the first anniversary of the Date of Grant and the remaining 75% vesting in twelve substantially equal quarterly installments thereafter, in each case subject to Mr. McGinnis's continued service with the Company through the applicable vesting date. Unvested RSUs will be forfeited upon any termination of service and, if service is terminated for cause or Mr. McGinnis breaches any restrictive covenant, all RSUs (whether vested or unvested) will be forfeited. In the event of a change in control, the RSUs will be treated as provided in the Equity Plan. These RSUs, as a one-time, special award to recognize Mr. McGinnis's exemplary service, are not intended to impact the total target value of Mr. McGinnis's annual equity awards for 2026.