Datavault AI Appoints Christopher Hardt and Establishes Advisory Arrangements for Resigning Directors

On October 1, 2026, Datavault AI Inc. (Nasdaq: DVLT) announced the approval of advisory arrangements for non-employee directors who resign from the board in connection with specific transactions. The company’s board determined these arrangements in consultation with Compensation Venture Group. Under the terms, any resigning director will have their outstanding and unvested equity awards fully vested on the effective date of resignation. Additionally, directors who have served for at least two years are eligible for a one-year advisory contract. This contract provides for $72,000 in cash compensation, paid in monthly installments of $6,000, subject to the effectiveness of a registration statement. The director is also eligible to receive a restricted stock award of 120,000 shares, fully vesting one year after the resignation, unless terminated without cause prior to the term's end.

The filing also details the resignation of Robert Tobias, who tendered his resignation on October 2, 2026, effective at 11:59 p.m. Mr. Tobias served on the board for over two years and was a member of the Compensation Committee and Chair of the Nominating and Corporate Governance Committee. His resignation was in connection with the company’s acquisition of NYIAX, which the board classified as a triggering transaction. Mr. Tobias will serve as an Advisor under the newly approved arrangements.

In a related move, the board appointed Christopher R. Hardt to the board on October 2, 2026. Mr. Hardt was designated by NYIAX as a Merger Partner Designee pursuant to the merger agreement. The board appointed him to serve on the Audit Committee and the Nominating and Corporate Governance Committee. The company determined that Mr. Hardt qualifies as an independent director and an audit committee financial expert under applicable Nasdaq and SEC rules.

Mr. Hardt brings more than 30 years of experience, having retired as an audit partner from PwC LLP in July 2021. Previously, he served as the Chief Financial Officer and Director of Abri SPAC 2, Inc. (Nasdaq: ASPP) from August 2021 to May 2026. As a director, Mr. Hardt is entitled to an annual cash compensation of $60,000 and $2,500 for his service on the Audit Committee. The board approved a restricted stock award of 125,000 shares under the company’s 2018 Long-Term Stock Incentive Plan, which will vest in two installments over 90 days following the grant date. The grant is contingent upon the filing and effectiveness of a Form S-8 registration statement.