ETST 8-K
Earth Science Tech, Inc. (ETST)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported):
Commission
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(I.R.S. Employer Identification No.) |
(Address of principal executive offices, zip code)
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8950 SW 74th CT
Suite 101
Miami, FL 33156, USA
(Former name, former address and former fiscal year, if changed since last report)
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Item 5.02(d) Election of Directors
On December 26, 2024, a majority of shareholders of Earth Science Tech, Inc., a Florida Corporation (the “Company”), acting by written consent without a meeting, approved the expansion of the Company’s Board of Directors from five to seven members. In connection with this action, Ernesto L. Flores and Victoria Losada were elected as new members of the Board. As part of their appointment, both Flores and Losada will receive compensation of four thousand dollars for each Board meeting attended.
On December 27, 2024, the Company’s Board of Directors established a Compensation Committee and appointed Ernesto L. Flores as its chair. The committee will also include Emiliano Curia, MD, and Victoria Losada. Additionally, the Board elected Ernesto L. Flores to the Audit Committee, succeeding Mario G. Tabraue. The Audit Committee now consists of Jeff P.H. Cazeau, Emiliano Curia, MD, and Ernesto L. Flores.
Item 5.02(e) Compensatory Arrangements of Certain Officers
On December 30, 2024, the Company’s CEO and COO amended the Employment Agreement originally dated August 26, 2024. Under the amended terms, the CEO will receive a monthly salary of two hundred thousand dollars, and the COO will receive a monthly salary of one hundred fifty thousand dollars, effective January 1, 2025. In addition to their base salaries and in lieu of stock compensation (which the Company does not offer), both the CEO and COO will be eligible for quarterly performance bonuses. The CEO will receive a bonus equal to ten percent of the Company’s revenue for the preceding quarter, while the COO will receive a bonus equal to seven percent. These bonuses are contingent upon the Company’s assets increasing by at least five percent quarter-over-quarter.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
Description | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| EARTH SCIENCE TECH, INC. | ||
| Dated: December 30, 2024 | By: | /s/ Giorgio R. Saumat |
| Giorgio R. Saumat | ||
| Its: | CEO and Chairman of the Board | |