KULR's Compensation Committee Approved A Voluntary Request By CEO Michael Mo To Reduce The Cash Component Of His Compensation By 33%; In Q1 2024, KULR Reduced Operating And Investment Cash Usage By 23% From Q1 Of 2023
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KULR Technology Group, Inc. (NYSE:KULR) announced that its CEO, Michael Mo, voluntarily requested a 33% reduction in the cash component of his compensation, opting instead for an equity incentive grant. Additionally, KULR reduced its operating and investment cash usage by 23% in Q1 2024 compared to Q1 2023.
May 23, 2024 | 12:46 pm
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KULR Technology Group's CEO Michael Mo has voluntarily reduced his cash compensation by 33%, opting for an equity incentive grant. The company also reported a 23% reduction in operating and investment cash usage in Q1 2024 compared to Q1 2023.
The CEO's decision to reduce his cash compensation and opt for equity incentives demonstrates strong confidence in the company's future. Additionally, the significant reduction in cash usage indicates improved financial management, which is likely to positively impact investor sentiment.
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