Business Context and Reporting Period
This Form 8-K Current Report is filed by NextTrip, Inc., a Nevada corporation, on March 13, 2026. The report discloses events occurring on March 11, 2026, specifically regarding the execution of a new employment agreement with the Company's Chief Financial Officer.
Key Financial Metrics
This filing does not contain standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation terms.
Material Changes
The primary material change disclosed is the new employment agreement with Frank Orzechowski, effective retroactively to February 10, 2026. Key terms include:
- Base Salary: $250,000 annually.
- Equity Component: $50,000 of the base salary for the period September 1, 2025, through March 31, 2026, will be paid in fully vested common stock shares based on the closing price on February 10, 2026.
- Equity Grant: A bonus grant of 10,000 shares of Common Stock under the 2023 Equity Incentive Plan.
- Cash Bonus: A guaranteed cash bonus of $13,500 for the 2026 calendar year.
- Performance Bonus: Eligibility for an annual performance bonus with a target range of $50,000 to $150,000.
- Severance: Six-month severance payment in cases of involuntary termination or resignation for good reason.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary on business operations. No specific risks or contingencies are detailed beyond the standard legal disclaimer that the summary is subject to the full Employment Agreement attached as Exhibit 10.1.
Investor Verification Checklist
- Verify the exact number of shares issued for the $50,000 salary component based on the February 10, 2026, closing price.
- Review the specific performance objectives required to achieve the $50,000–$150,000 performance bonus in Exhibit 10.1.
- Confirm the vesting schedule and restrictions for the 10,000-share equity bonus grant.
- Assess the impact of the new compensation structure on the Company's cash burn rate and equity dilution.