Reliance Global Group, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Reliance Global Group, Inc. (RELI) on July 18, 2025. The filing discloses Item 5.02 events regarding the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements. The Company is incorporated in Florida and trades on The NASDAQ Capital Market.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on compensation adjustments and equity awards.
Material Changes and Compensation Adjustments
Effective July 18, 2025, the Compensation Committee approved the following changes:
- Director Cash Compensation: The base annual cash retainer for non-employee directors increased to $52,000. Committee chairs receive additional fees.
- Director Equity Awards: Each of the four non-employee directors received a grant of 66,486 Restricted Stock Units (RSUs) with a grant date value of $98,000. These RSUs vested in full on July 23, 2025.
- Executive Equity Awards: Named executive officers received RSUs under the 2025 Equity Incentive Plan with time-based vesting. No new bonuses or salary adjustments were approved.
| Recipient | Role | Grant Date Value | RSUs Granted | Vesting Schedule |
|---|---|---|---|---|
| Scott Korman | Audit Committee Chair | $66,000 (Cash) | 66,486 (Equity) | Immediate (Equity) |
| Ben Fried | Compensation Committee Chair | $63,000 (Cash) | 66,486 (Equity) | Immediate (Equity) |
| Sheldon Brickman | Nominating Committee Chair | $60,000 (Cash) | 66,486 (Equity) | Immediate (Equity) |
| Alex Blumenfrucht | Director | $52,000 (Cash) | 66,486 (Equity) | Immediate (Equity) |
| Ezra Beyman | CEO | $1,058,000 | 717,775 | Bi-monthly installments (Oct 2025 - Jan 2026) |
| Joel Markovits | CFO | $315,000 | 213,704 | Bi-monthly installments (Oct 2025 - Jan 2026) |
| Yaakov Beyman | VP, Insurance Operations | $275,000 | 186,567 | Bi-monthly installments (Oct 2025 - Jan 2026) |
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on operations, or discussion of risks and contingencies. The equity awards to executives are subject to time-based vesting, with the first installment scheduled for October 15, 2025.
Key Facts for Investor Verification
- Verify the impact of the immediate vesting of director RSUs on the Company's share count and potential dilution.
- Confirm the total cash outflow increase for director compensation (approx. $27,000 total increase across four directors).
- Review the vesting schedule for executive RSUs to understand future dilution exposure over the next 16 months.
- Check the Nasdaq Minimum Price used to calculate the RSU grant values to ensure accuracy of the share counts.