TEN Holdings corrected executive award disclosures after its 1-for-15 reverse stock split, including Virgilio D. Torres’ option adjustment to 21,592 shares at a $5.40 exercise price. The changes matter to investors because they clarify the number, pricing and vesting schedule of Equity awards held by senior executives.

Key Highlights

  • Virgilio D. Torres’ option was adjusted to 21,592 shares with a $5.40 exercise price after the reverse split.
  • Randolph Wilson Jones III received total compensation of $395,263 in 2025.
  • Torres’ option vests in stages beginning June 30, 2026, with monthly vesting starting July 30, 2026.

Chief Executive Officer and Director Randolph Wilson Jones III received total compensation of $395,263 for 2025, while Chief Financial Officer, Secretary and Director Virgilio D. Torres received $353,832. The revised disclosures also adjust option counts, exercise prices and grant-date values for certain awards.

2025 Executive Pay Totals

Jones received a salary of $300,000 and a Bonus of $95,263 in 2025, producing total compensation of $395,263. His 2024 total was $4,752,257, including salary of $298,077, bonus of $132,536 and option awards valued at $4,321,644. Torres received salary of $265,000, a $33,125 bonus and option awards valued at $55,707 in 2025. His total compensation was $353,832. John M. Orobono Jr. the former Chief Financial Officer, Secretary and Director, received $265,000 in 2025. That amount included salary of $220,000 and $45,000 in other compensation. Orobono resigned on May 9, 2025, and the $45,000 represented severance connected with that resignation.

Reverse Split Reshapes Options

The reverse split reduced Jones’ option from 1,381,750 shares to 92,117 shares and increased the exercise price from $0.46 per share to $6.90 per share. The award’s grant-date value was approximately $3.13 per share before adjustment and approximately $46.91 per share after adjustment. Orobono’s option was reduced from 276,500 shares to 18,433 shares, with the exercise price adjusted to $6.90 per share. The option had vested as to 69,125 shares when he resigned, and the vested portion was returned on August 7, 2025 under the award’s vesting and forfeiture terms.

Torres Award Starts Vesting

Torres received an option covering 323,884 shares at an exercise price of $0.36 per share. After the reverse split, the award covered 21,592 shares at a $5.40 exercise price. The option has a ten (NASDAQ: XHLD)-year contractual term. One third of the underlying shares vests on June 30, 2026, with the remainder vesting in equal monthly installments beginning July 30, 2026. The award’s grant-date value was approximately $55,707. The board appointed Torres as Chief Financial Officer and director on June 30, 2025. The award’s stated expiration date is June 30, 2035.

Jones Award Runs Through 2034

Jones’ option became subject to the post-split count of 92,117 shares and a $6.90 exercise price. The remaining 40% followed a one-year cliff and monthly vesting arrangement beginning November 2025, with all shares scheduled to vest by October 2027. The option expires October 10, 2034. An aggregate option grant made to directors and employees covered 2,640,250 shares at an exercise price of $0.46 per share before the reverse split. The adjusted number of shares was 176,017, with an exercise price of $6.90 per share. The Options have a ten-year contractual term, and the total value of that grant was approximately $8.3 million as of its grant date.