PetVivo Holdings, Inc. revealed (OTCQB:PETV), a medical device company headquartered in Edina, Minnesota, announced its non-employee director compensation policy for next year, as disclosed in its recent 8-K filing with the Securities and Exchange Commission (SEC).
The company’s board of directors on Monday approved compensation for non-employee directors for the period from October 1, 2024 through September 30, 2025. Each non-employee director will receive an annual cash payment of $10,000, distributed over four equal quarters. Payments. The first payment was made on October 1, 2024.
In addition to cash compensation, non-employee directors are granted 35,000 restricted stock units (RSUs) annually. These RSUs will vest in four equal parts of 8,750 each quarter, with the vesting price based on the volume weighted average price (VWAP) on the vesting date.
Directors will also receive $500 for each committee meeting attended during the year. Council chairs and committees are allocated additional annual cash payments ranging from $5,000 to $10,000, also paid in quarterly installments.
The company estimates the total value of director compensation for this year at approximately $223,000, assuming a per-share value of $0.55 per RSU.
In other recent news, PetVivo Holdings has seen significant developments. The company reported an increase in demand for its Spryng product, doubling distributor sales and generating revenue of $124,000 for its fiscal first quarter ended June 30.
This progress was accompanied by a strong gross margin of 89.5%. PetVivo Holdings also announced the death of its Chairman, James Martin. His departure represents a period of transition as the company seeks to address the vacancy on its board of directors.
Additionally, PetVivo has expanded its Board of Directors with the appointment of Mike Eldred, a new independent director with extensive experience in the animal health sector. This expansion comes within the framework of the company’s strategic direction. PetVivo is also focused on market expansion, with plans to hire additional sales representatives and increase educational efforts for veterinary professionals.
The company expects targeted revenue to be between $1.5 million and $2 million and is considering potential expansion into human studies with Spryng.
InvestingPro Insights
PetVivo Holdings’ recent disclosure of its non-employee director compensation policy comes amid difficult financial circumstances for the company. According to InvestingPro data, PetVivo’s revenue for the trailing 12 months as of Q1 2025 was $0.98 million, with a slight revenue growth of 5.6% in the last quarter. Despite this growth, the company is not currently profitable, as evidenced by its negative EBITDA of $9.64 million for the same period.
InvestingPro tips highlight that PetVivo share price movements have been very volatile, with a huge return of 27.57% over the past week, in contrast to a decline of 72.5% over the past year. This volatility is consistent with the company’s current financial condition and may affect the value of RSUs granted to non-employee directors as part of their compensation package.
Another related InvestingPro tip notes that PetVivo’s short-term liabilities exceed its liquid assets, which could pose challenges to the company’s financial stability. This information provides context for a company’s decision to structure director compensation with a mix of cash and equity, which may conserve cash while aligning directors’ interests with the company’s long-term performance.
For investors looking for a more comprehensive analysis, InvestingPro offers 5 additional tips for PetVivo Holdings, providing deeper insights into the company’s financial health and market position.
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