Data Storage Corporation amended employment agreements for CEO Charles M. Piluso and CFO Chris Panagiotakos, extending terms to December 31, 2028 with new compensation packages, and reported the resignation of President Harold Schwartz. These changes establish long-term executive retention and incentive structures tied to company performance and acquisitions.
Key takeaways
CEO Charles M. Piluso received a 2025 annual bonus including 160,600 restricted stock units vesting May 20, 2026.
Amended employment agreements for CEO Piluso and CFO Panagiotakos are effective January 1, 2026 with three-year terms extending to December 31, 2028.
CEO Piluso's new base salary is $275,000 annually with annual cash bonus target of 100% of base salary (0-200% range).
CFO Panagiotakos's new base salary is $270,000 annually with annual cash bonus target of 50% of base salary (0-200% range).
President Harold Schwartz resigned effective February 12, 2026 due to his position with the acquiror of a divested entity.
CEO Piluso received one-time equity awards of 250,000 stock options and 60,000 RSUs vesting over three years ending May 20, 2029.