Earth Science Tech (OTCMKTS:ETST) Approves Board Expansion and Announces Executive Compensation Adjustments

Earth Science Tech, Inc. filed a Form 8-K with the Securities and Exchange Commission on December 30, 2024, detailing recent corporate governance changes and executive compensation adjustments.

In a significant move, a majority of shareholders at Earth Science Tech, Inc., a Florida Corporation, approved the expansion of the company’s Board of Directors from five members to seven members. Following this decision, Ernesto L. Flores and Victoria Losada were newly elected as members of the Board. As part of their appointment, both Flores and Losada are entitled to receive four thousand dollars for each board meeting attended.

Subsequently, on December 27, 2024, Earth Science Tech’s Board of Directors established a Compensation Committee, with Ernesto L. Flores appointed as its chair. The committee was also joined by Emiliano Curia, MD, and Victoria Losada. Additionally, Ernesto L. Flores was elected to the Audit Committee, taking over from Mario G. Tabraue. The Audit Committee now comprises Jeff P.H. Cazeau, Emiliano Curia, MD, and Ernesto L. Flores.

Moreover, on December 30, 2024, the CEO and COO of the company made amendments to their Employment Agreement dated August 26, 2024. Under the revised terms, the CEO is set to receive a monthly salary of two hundred thousand dollars, while the COO will receive a monthly salary of one hundred fifty thousand dollars, effective January 1, 2025. Additionally, apart from their base salaries, both executives will be eligible for quarterly performance bonuses, in place of stock compensation, given the current compensation structure. The CEO’s bonus will be ten percent of the company’s revenue from the previous quarter, and the COO’s bonus will be seven percent, subject to the company’s assets increasing by at least five percent quarter-over-quarter.

The Form 8-K also listed an Interactive Data File included as an exhibit.

In signing off on the report, Giorgio R. Saumat, the CEO and Chairman of the Board of Earth Science Tech, Inc., confirmed these recent changes in company governance and executive compensation.

This release encompasses the latest updates from Earth Science Tech in line with its commitment to transparency and compliance with SEC regulations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Earth Science Tech’s 8K filing here.

About Earth Science Tech

Earth Science Tech, Inc focuses on health and wellness industry. It operates men's health telemedicine platform under brand Peak name; and operates pharmacy. The company offers supplements and topicals products. The company was formerly known as Ultimate Novelty Sports, Inc and changed its name to Earth Science Tech, Inc in March 2014.