Form 4: Ryvyl Inc. Director Ben Errez Awarded 380,000 Restricted Stock Units

Ben Errez, Chairman of the Board of Directors at Ryvyl Inc., received two grants of restricted stock units totaling 380,000 shares.

Summary

• On April 8, 2025, Ben Errez, Chairman of the Board of Directors at Ryvyl Inc., was granted 380,000 restricted stock units.
• The grants were approved by the Board of Directors in accordance with the Amended and Restated 2023 Equity Incentive Plan.
• The first grant of 190,000 restricted stock units vests over three years with a five-quarter cliff vesting on May 15, 2025, and will be fully vested on March 15, 2027.
• The second grant of 190,000 restricted stock units also vests over three years with a one-quarter cliff vesting on May 15, 2025, and will be fully vested on February 15, 2028.
• The price of the restricted stock units was $0.79.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard executive compensation practice. The vesting schedule suggests a long-term commitment, which is generally viewed positively.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.

Industry Context

Equity compensation is a common practice in publicly traded companies to incentivize and retain key personnel. The vesting schedules are designed to align the interests of the recipients with the long-term performance of the company.

Comparison to Industry Standards

• Granting restricted stock units to directors is a standard practice among publicly listed companies, such as Ryvyl Inc., to align their interests with shareholders.
• Companies like Block, Inc. and PayPal Holdings, Inc. also utilize equity-based compensation for their executives and directors.
• The vesting schedules, typically spanning three to four years, are designed to incentivize long-term commitment and performance, similar to industry norms.

Stakeholder Impact

• Shareholders may view the grant positively as it aligns the director's interests with the company's long-term success.
• Employees may see this as a positive sign of the company's commitment to its leadership.

Key Dates

Keywords

restricted stock units, equity incentive plan, beneficial ownership, Form 4, Ryvyl Inc., RVYL, Errez, Director