The Arena Group Holdings Inc.
01/17/2025 | Press release | Distributed by Public on 01/17/2025 15:30
Amendments to Bylaws (Form 8-K)
| Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On January 13, 2025, the Board of Directors (the "Board") of The Arena Group Holdings Inc. (the "Company"), upon the recommendation of the Compensation Committee (the "Committee"), approved changes to the Company's non-employee director compensation to eliminate the cash retainer and annual restricted stock grants. Going forward, the Company's non-employee directors will only be eligible for the reimbursement of expenses incurred.
Upon the recommendation of the Committee, the Board also approved increases to the base salaries of its Chief Executive Officer and Principal Financial Officer by $5,000 and $25,000, respectively. Such increases are effective as of January 1, 2025.