American Picture House Corp
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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FY2023 · Filed Mar 28, 2024
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Item 11. Executive Compensation
| ITEM 11. | EXECUTIVE COMPENSATION |
|---|
On January 11, 2024, the Company’s Board of Directors issued 250,000 options to each of its nine board members, 1,673,250 options to advisors, 662,983 options to Mr. Macgregor, and 497,238 options to Mr. Blanchard for an aggregate of 5,083,471 options with the rights to purchase common shares of the Company at an exercise price of $0.0125 per share.
We have entered into a consulting agreement with our CEO, Michael MacGregor, for a fee of Five Thousand dollars ($5,000) per month in 2022. For 2023, the CEO received $20,000/month for the months of September through December for a total of $80,000. The agreement calls for the promotion of the quality of the Company’s products and services with attention to the maintenance of the standards and procedures of the Company. Additionally, the CEO is seeking to enhance and develop the Company’s relationships with the entertainment industry and technology developers.
| Name and principal position · Year · Salary ($) · Bonus ($) · Stock awards ($) · Option awards ($) · Non-equity incentive plan compensation ($) · Change in pension value and nonqualified deferred compensation earnings ($) · All other compensation ($) · Total ($) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Bannor Michael MacGregor | 2022 | $60,000 | (1) | - | - | - | - | - | - | $60,000 |
| Bannor Michael MacGregor | 2023 | $80,000 | - | - | - | - | - | - | $80,000 | |
| 1. | Mr. MacGregor earned consulting compensation of $5,000 per month in 2022 of which $60,000 was accrued and unpaid as of December 31, 2022. On January 1, 2023, the $60,000 of accrued 2022 consulting fees payable to Mr. MacGregor were exchanged for options to purchase 480,000 shares of Common Stock at $0.125 per share. |
Except as disclosed above, no Directors were paid in excess of $100,000 in the year 2022.
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