AGNT, Inc. (Nasdaq: AGNT) announced a leadership transition on October 2, 2026, in which Glenn Sanford, the company's Chairman and Chief Executive Officer, recommended that Leo Pareja be appointed as the new Chief Executive Officer. The transition is effective October 8, 2026. Sanford will step down from his role as CEO but will continue to serve as Chairman of the Board.
On October 6, 2026, the Board of Directors acted by unanimous written consent to appoint Mr. Pareja as Chief Executive Officer. Mr. Pareja, age 44, has served as CEO of eXp Realty, a wholly owned subsidiary of AGNT, since April 2024. Prior to that, he served as President of Affiliated Services and Chief Strategy Officer at eXp Realty. Before joining eXp Realty in July 2022, Mr. Pareja was the co-founder, President, and CEO of Remine, Inc., a real estate technology company acquired by MLS Technology Holdings, LLC in October 2021.
On October 8, 2026, AGNT and Mr. Pareja entered into an Employment Agreement effective as of the transition date. The agreement has an initial five-year term, subject to earlier termination, and automatically renews for successive one-year terms unless either party provides at least 90 days' written notice of non-renewal. Under the agreement, Mr. Pareja’s annual base salary will increase to $1,800,000.
The compensation package includes a promotional equity grant consisting of (i) a stock option covering 1,060,814 shares of common stock at target, subject to performance-based vesting over a five-year period based on the Company’s total shareholder return relative to a peer group, and (ii) 573,588 restricted stock units vesting in equal quarterly installments over three years. Additionally, beginning with the 2027 calendar year, Mr. Pareja is eligible to receive an annual equity award with an aggregate grant-date value of $4,897,500 for that year, consisting of 50 percent stock options and 50 percent restricted stock units.
The Employment Agreement outlines severance terms for termination without cause or resignation for good reason, including 18 months of continued base salary and COBRA benefits. The agreement also details the treatment of Mr. Pareja’s equity awards in connection with a change in control of the Company.
