PetVivo Holdings, Inc. (OTCQB:PETV), a medical device company headquartered in Edina, Minnesota, has disclosed its non-employee director compensation policy for the upcoming year, as revealed in a recent 8-K filing with the Securities and Exchange Commission (SEC).
On Monday, the company’s Board of Directors approved the 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 retainer of $10,000, distributed in four equal quarterly payments. The initial 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 portions 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. Additional annual cash payments are allocated to the chairs of the Board and its committees, ranging from $5,000 to $10,000, also payable in quarterly installments.
The company estimates the total value of directors’ compensation for the year to be approximately $223,000, assuming a per share value of $0.55 for each RSU.
In other recent news, PetVivo Holdings has experienced significant developments. The company reported a surge in demand for its product, Spryng, resulting in a doubling of distributor sales and a reported revenue of $124,000 for the fiscal first quarter ending June 30.
This progress was accompanied by a robust gross margin of 89.5%. PetVivo Holdings also announced the passing of its Chairman of the Board, James Martin. His departure marks a transitional period as the company seeks to address the vacancy left on its board.
Additionally, PetVivo 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 is part of the company’s strategic direction. PetVivo is also focusing on market expansion, with plans to hire additional sales representatives and increase educational efforts for veterinary professionals.
The company anticipates revenue targets between $1.5 to $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 challenging financial conditions for the company. According to InvestingPro data, PetVivo’s revenue for the last twelve months as of Q1 2025 stood at $0.98 million, with a slight revenue growth of 5.6% in the most recent quarter. Despite this growth, the company is not currently profitable, as indicated by its negative EBITDA of $9.64 million for the same period.
InvestingPro Tips highlight that PetVivo’s stock price movements have been quite volatile, with a significant 27.57% return over the last week, contrasting with a 72.5% decline over the past year. This volatility aligns with the company’s current financial situation and may impact the value of the RSUs granted to non-employee directors as part of their compensation package.
Another relevant InvestingPro Tip notes that PetVivo’s short-term obligations exceed its liquid assets, which could pose challenges for the company’s financial stability. This information provides context to the company’s decision to structure director compensation with a mix of cash and equity, potentially preserving cash while aligning directors’ interests with long-term company performance.
For investors seeking 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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