AIRWA INC.
For the period ended Apr 30, 2026. Filed Sep 21, 2026.
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FY2026 · Filed Sep 21, 2026
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Item 11. Executive Compensation
Summary Compensation Table
The table below summarizes all compensation awarded to, earned by, or paid to our named executive officers (our principal executive officer and our two most highly compensated executive officers other than our principal executive officer) for the fiscal years ended April 30, 2026 and 2025 for all services rendered in all capacities to us.
| Name and Principal Position · Year ended April 30 · Salary ($) · Bonus ($) · Share Awards ($) · Non-Equity Incentive Plan Compensation ($) · All other compensation ($) · Total ($) | |||||
|---|---|---|---|---|---|
| Thomas Tarala (1) | 2026 | 720,000 | 720,000 | ||
| 2025 | 320,000 | 1,300,000 | 1,620,000 | ||
| Guibao Ji (1) | 2026 | 250,000 | 250,000 | ||
| 2025 | 111,111 | 111,111 | |||
| Mike Ballardie (3) | 2025 | 600,000 | 300,000 | 900,000 | |
| Yonah Kalfa (3) | 2025 | 340,150 | 85,000 | 425,150 | |
| Judah Honickman (3) | 2025 | 178,000 | 44,500 | 222,500 | |
| (1) | On November 22, 2024, in connection with the completion of the Acquisition, Thomas Tarala was appointed Chief Executive Officer and Guibao Ji was appointed Chief Financial Officer. |
| (2) | As of September 18, 2026, the amounts listed for Mr. Tarala are currently owed to him and have not yet been paid. |
| (3) | On November 21, 2024, in connection with the completion of the acquisition of what was then known as Connexa Sports Technologies Inc. (the “Acquisition”), Mike Ballardie, Judah Honickman, and Yonah Kalfa, resigned from their respective positions with the Company, effective immediately. |
Outstanding Equity Awards at Fiscal Year-End
None of the current directors and officers have been awarded any equity awards as of April 30, 2026.
Employment Agreements
The Company is a party to service agreements with each of its executive officers.
Thomas Tarala
On February 12, 2025, the Company approved an employment agreement with Mr. Tarala as the Company’s Chief Executive Officer. The agreement has a term of five years and may be terminated by the Company upon 180 days’ prior written notice. In such a case, all of his unvested stock, warrant, and option compensation of any nature will vest without any further action required on his part. The agreement also contains change of control provisions that accelerate the vesting of unvested equity awards.
Mr. Tarala’s compensation as Chief Executive Officer of the Company includes (i) a base salary of $720,000 annually and (ii) a signing bonus of $300,000 in the form of the Company’s common stock. Mr. Tarala is also entitled to an annual bonus, earned as of the end of each fiscal year and as of the date of termination of his employment agreement, of at least 100% of his then-current base salary. In addition, Mr. Tarala is due a bonus of $1,000,000 in cash and/or securities (with the form of payment to be agreed by and between Mr. Tarala and the Board) as a success fee for his role in the merger of Connexa Sports Technologies Inc. with YYEM and the successful listing of the combined company on Nasdaq, which fee has not yet been paid.
Guibao Ji
On February 12, 2025, the Company approved an employment agreement with Guibao Ji as the Company’s Chief Financial Officer. Mr. Ji has been serving in such capacity since November 21, 2024.
Mr. Ji’s Employment Agreement may be terminated by either party on one month’s written notice. Mr. Ji’s compensation as Chief Financial Officer of the Company includes (i) an annual salary of $250,000 and (ii) a discretionary bonus to be based on the Company’s overall business performance.
Director Compensation
The following table sets forth director compensation for the years ended April 30, 2026 and 2025:
| Name · Year Ended April 30 · Fees earned or paid in cash ($) · Stock Awards ($) · Total ($) | |||
|---|---|---|---|
| Thomas Tarala (1) | 2026 | 60,000 | 60,000 |
| Guibao Ji (2) | 2026 | - | - |
| Bini Zhu | 2026 | 42,500 | 42,500 |
| Hai Bin Cui (3) | 2026 | 29,348 | 29,348 |
| Alejandro Quiles (2) | 2026 | - | - |
| Chenlong Liu (1)(4) | 2026 | 60,000 | 60,000 |
| Hongyu Zhou (1)(5) | 2026 | 60,000 | 60,000 |
| Kong Liu (1)(6) | 2026 | 20,000 | 20,000 |
| Warren Andrew Thomson (1)(7) | 2026 | 7,087 | 7,087 |
| (1) | On November 22, 2024, in connection with the Acquisition, Thomas Tarala, Hongyu Zhou, Warren Thomson, Chenlong Liu, and Kong Liu were appointed as directors of the Company. |
| (2) | Guibao Ji and Alejandro Quiles were appointed on July 15, 2026, after the end of the financial year ended April 30, 2026. |
| (3) | Hai Bin Cui was appointed on September 17, 2025. |
| (4) | On July 10, 2026, Chenlong Liu resigned from the board of directors of the Company and all committees thereof, effective immediately. |
| (5) | On June 2, 2026, Hongyu Zhou resigned from the board of directors of the Company and all committees thereof, effective immediately. |
| (6) | On September 1, 2025, Kong Liu resigned from the board of directors of the Company and all committees thereof, effective immediately. |
| (7) | On June 12, 2025, Warren Andrew Thomson resigned from the board of directors of the Company and all committees thereof, effective immediately. |
Stock Options/SAR Grants
None.
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