On May 12, COO Richard Estalella resigned effective immediately. He will continue to serve as MusclePharm's (MSLP -0.8%) President. Jim Greenwell resigned from the Board of Directors effective immediately to assume the COO role on May 16.
The company will pay Mr. Greenwell a base salary of $275K, a bonus of up to $300K and 100K shares of stock.
The BOD extends the employment agreements of Brad Pyatt and Cory Gregory to December 31, 2018. As a sweetener, Mr. Pyatt receives 500K shares of stock and Mr. Gregory 100K shares. Both vest 20%/year.