Former CEO's Equity Grant Reduced Following Resignation

summarizeSummary

Charles Ferry, who recently resigned as CEO of Duos Technologies Group, had his unvested equity grant reduced by 261,444 shares, valued at approximately $1.77 million, as part of his departure terms.

check_boxKey Events

• Equity Grant Adjustment

  Charles Ferry, former CEO and current Director, had 261,444 unvested shares from a 2021 equity incentive plan removed from his grant.

• Resignation Impact

  This adjustment, valued at approximately $1.77 million, is directly tied to his resignation as Chief Executive Officer, effective April 1, 2026.

• Remaining Director Role

  Mr. Ferry continues to serve as a Director of the company, with his remaining 261,445 shares from the grant still subject to cliff vesting on December 31, 2027.

auto_awesomeAnalysis

This Form 4 details the financial implications of Charles Ferry's resignation as CEO, which was announced in a concurrent 8-K filing. The reduction of his unvested equity grant by 261,444 shares, valued at approximately $1.77 million, is a direct consequence of his departure. While not an open-market sale, this disposition of potential future shares represents a significant adjustment to his compensation package and provides clarity on the financial terms of the executive transition. Investors should view this as a follow-up to the CEO change announcement, providing specific details on the former CEO's equity holdings.