$IQST iQSTEL Executives Convert $631,500 Unpaid Sa
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Posted On: 07/07/2025 10:14:06 PM
$IQST iQSTEL Executives Convert $631,500 Unpaid Salaries to Series B Preferred Stock. This highlights the executives' commitment to the company's long-term prospects!
Link: https://www.panabee.com/news/iqstel-executive...rred-stock
Jun 26, 2025
iQSTEL (Nasdaq: IQST), a telecommunications company, recently announced amended employment agreements for its top executives, allowing them to convert accrued and unpaid compensation into company stock. This move signals a significant shift in executive compensation for CEO Leandro Iglesias and CFO Alvaro Quintana Cardona, potentially reflecting a strategic alignment of management incentives with shareholder interests.
On June 23, 2025, the company's board approved the updated agreements, which grant Messrs. Iglesias and Quintana the option to convert any unpaid monthly remuneration into either common stock or Series B Preferred Stock. For common stock conversions, the number of shares is calculated based on the average share price on the Nasdaq Capital Market over the last 10 days, subjected to a 25% discount. For Series B Preferred Stock, the same discounted average common stock price is used, with the resulting share count then divided by 12.5.
Following these amendments, on June 24, 2025, both executives elected to convert $631,500 of their accrued and unpaid salaries into 6,571 shares of Series B Preferred Stock. This decision to take equity over cash for a substantial portion of their earnings is a notable development, highlighting the executives' commitment to the company's long-term prospects, while also potentially indicating current liquidity management strategies within iQSTEL.
Link: https://www.panabee.com/news/iqstel-executive...rred-stock
Jun 26, 2025
iQSTEL (Nasdaq: IQST), a telecommunications company, recently announced amended employment agreements for its top executives, allowing them to convert accrued and unpaid compensation into company stock. This move signals a significant shift in executive compensation for CEO Leandro Iglesias and CFO Alvaro Quintana Cardona, potentially reflecting a strategic alignment of management incentives with shareholder interests.
On June 23, 2025, the company's board approved the updated agreements, which grant Messrs. Iglesias and Quintana the option to convert any unpaid monthly remuneration into either common stock or Series B Preferred Stock. For common stock conversions, the number of shares is calculated based on the average share price on the Nasdaq Capital Market over the last 10 days, subjected to a 25% discount. For Series B Preferred Stock, the same discounted average common stock price is used, with the resulting share count then divided by 12.5.
Following these amendments, on June 24, 2025, both executives elected to convert $631,500 of their accrued and unpaid salaries into 6,571 shares of Series B Preferred Stock. This decision to take equity over cash for a substantial portion of their earnings is a notable development, highlighting the executives' commitment to the company's long-term prospects, while also potentially indicating current liquidity management strategies within iQSTEL.
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