Mawson Infrastructure Group Inc. (NASDAQ:MIGI) has announced the appointment of Kaliste Saloom as its General Counsel and Corporate Secretary, effective June 28, 2024. Saloom, who was serving as the Corporate Secretary and acting General Counsel, has now been confirmed in the role and will receive an annual salary of $225,000. He is also eligible for a performance bonus and an annual grant of restricted stock units valued at $50,000, subject to the discretion of the Company and its Board.
In addition to his compensation, Saloom will accrue 20 days of paid time off and 10 days of paid sick leave annually, and will observe company holidays. The Board also approved equity compensation awards for several executive officers on July 1, 2024, including Saloom, who received 144,093 restricted stock units (RSUs). These RSUs are set to vest in four equal installments over the next four years.
Other executives, including Chief Financial Officer William ‘Sandy’ Harrison, received 792,508 RSUs and 16,424 stock options, while CEO and President Rahul Mewawalla was awarded 2,881,845 RSUs and 1,750,000 stock options. Chief Development Officer Craig Hibbard was granted 31,142 RSUs. These grants are part of the Company’s 2024 Omnibus Equity Incentive Plan, and the stock options have specific vesting conditions based on the company’s stock price performance.
In other recent news, Mawson Infrastructure Group Inc. has made significant strides in its corporate development and expansion plans. The digital infrastructure provider recently appointed Anurag Gandhi as Head of Corporate Strategy and Vikram Murali as Head of Corporate Development, as part of efforts to enhance strategic growth and explore merger and acquisition opportunities. Both appointees bring a wealth of experience from their previous roles in renowned companies and institutions.
Further, Mawson Infrastructure has announced a 20 MW expansion of its Midland, Pennsylvania facilities. This move is expected to support approximately 38,810 miners, an increase from the existing 32,930, and is a response to the growing demand for the company's digital infrastructure services.
In addition, the company named former U.S. Congressman Ryan Costello as the new Chair of its Board of Directors. Costello's appointment is aimed at guiding the company through the volatile digital infrastructure sector. These are just a few of the recent developments within Mawson Infrastructure Group Inc., as it continues to navigate and grow in the digital infrastructure market.
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