Research Reports

Key takeaways

Amended employment agreement with Chairman and CEO Matthew Schatzman effective April 15, 2026, replacing 2017 agreement.

Initial term through April 15, 2029, with automatic one-year renewals unless 90-day non-renewal notice.

Annual base salary of $1,000,000, target bonus of 130% of base ($1.3 million), and long-term incentives at Board discretion.

Severance without Cause/Good Reason: 24 months base + 200% target bonus + prorated bonus + 24 months benefits.

Enhanced post-Change of Control severance: 36 months base + 300% target bonus + accelerated equity vesting.

Includes non-compete, non-solicit, and confidentiality covenants.

Full analysis

The amended employment agreement with CEO Matthew Schatzman locks in leadership stability through April 2029 with potential automatic renewals, providing a $1M base salary and 130% target bonus tied to Board-set performance goals. Long-term incentives under the Omnibus Incentive Plan offer flexibility for equity alignment. Severance protections are robust, doubling to 36 months pay and adding equity acceleration if termination follows a Change of Control, which could impact dilution or costs in M&A scenarios. Standard restrictive covenants safeguard Company interests. This update signals confidence in Schatzman's leadership amid strategic initiatives.

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