News

8-K — Pineapple Financial Inc.

Pineapple Financial Inc. filed an 8-K form on February 5, 2026, announcing new employment agreements for its CEO and President, each with $280,000 annual salaries and 3-year terms. The company also approved a new director agreement for Chairman Drew Green with a $20,000 monthly board fee.

Summary

Pineapple Financial Inc., a Canadian company trading on NYSE American under ticker PAPL, filed a Form 8-K current report detailing significant executive compensation changes effective February 5, 2026. The Board of Directors, upon recommendation from the Compensation Committee, approved new employment agreements for two key executives: CEO and Director Shubha Dasgupta, and President/COO/Director Kendall Marin. These new agreements supersede all prior employment contracts and establish 3-year terms with automatic renewal options if both parties agree in writing at least 30 days before expiration. Both executives will receive identical base salaries of $280,000 per annum. Additionally, the Board approved a new director agreement for Chairman Drew Green, establishing a monthly board fee of $20,000. Green's appointment continues subject to shareholder re-election at annual meetings and has a maximum term of five years from the effective date. The company has classified itself as an emerging growth company and maintains its principal executive offices in North York, Ontario. All relevant employment and director agreements have been filed as exhibits to this 8-K report.

Key Insights

  • Pineapple Financial standardized executive compensation by setting identical $280,000 annual salaries for both the CEO and President/COO positions
  • The company structured executive employment agreements with 3-year initial terms and built-in renewal mechanisms requiring mutual written agreement 30 days before expiration
  • The Board established a substantial monthly compensation of $20,000 for the Chairman position, totaling $240,000 annually
  • The new agreements completely supersede all previous employment contracts with the named executives, indicating a comprehensive restructuring of compensation arrangements
  • The company tied the Chairman's tenure to shareholder approval through required re-election at annual meetings, while capping the maximum term at five years

Topics

executive compensationemployment agreementsboard governanceSEC filing

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