Global Gas Corp
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 2025
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Item 11. Executive Compensation
Global Gas is considered an emerging growth company for purposes of the SEC’s executive compensation disclosure rules. In accordance with such rules, Global Gas is required to provide tabular disclosure of summary compensation and outstanding equity awards at fiscal year end, as well as limited narrative disclosures. In general, this disclosure is required for each individual who served as principal executive officer during the year and the company’s two most highly compensated executive officers other than the principal executive officer whose total compensation for the applicable year exceeded $100,000 and who were serving as executive officers as of the applicable year end.
Summary Compensation Table
The following table presents summary information regarding the total compensation paid by Global Gas for the years ended December 31, 2024 and 2023, for the named executive officers of the Company.
| Name and Principal Position | Year | Salary ($) | Bonus ($) | Stock Awards ($) | Non-Equity Incentive Plan Compensation ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|---|---|
| William Nance | 2024 | - | - | - | - | - | - |
| Former Chief Executive Officer | 2023 | 43,750 | - | - | - | - | 43,750 |
| Shachi Shah | 2024 | - | - | 37,525 | - | - | - |
| Chief Financial Officer | 2023 | - | - | - | - | - | - |
Outstanding Equity Awards at Fiscal Year End
The following table presents information regarding the outstanding stock awards held by the Company’s named executive officers at December 31, 2024.
| Number of Shares of Stock That have not | Market Value of Shares That have not | |
|---|---|---|
| Name | Vested | Vested |
| William Nance | -- | $ |
| Shachi Shah | 100,000 | $30,000 |
The following table sets forth compensation earned during the year ended December 31, 2024 by each director who is not a “named executive officer” (as defined in Item 402(m) of Regulation S-K under the Exchange Act) and served during the year ended December 31, 2024.
| Fees · Restricted Stock | ||||
|---|---|---|---|---|
| Name · Earned · Awards(1) · Totals | ||||
| Jeron Smith | $ | -- | $60,000 | $ |
| Michael Castaldy | $ | -- | $60,000 | $ |
| Ben Coates | $ | -- | $60,000 | $ |
| (1) | The amounts reported under “Option Awards” are the estimated grant date fair value of restricted stock granted under the 2023 Equity Incentive Plan, with such amount as determined under Financial Accounting Standards Board (“FASB”) Accounting Standard Codification Topic 718, Stock-Based Compensation (“ASC 718”), with respect to accounting for stock-based compensation. Such estimated fair value amounts do not necessarily correspond to the potential actual value realized of such restricted stock. The assumptions made in computing the estimated fair value of such restricted stock are disclosed in the notes to the Company’s consolidated financial statements for the fiscal year ended December 31, 2024. |
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