SharonAI Holdings Inc. has filed a Current Report on Form 8-K disclosing a variation to the employment agreement of co-founder and former Chief Operating Officer Andrew Leece. Effective September 7, 2026, Mr. Leece’s position has been changed from Chief Operating Officer to Head of Strategic Partnerships. The change was formalized through a Deed of Release entered into on September 8, 2026, between SharonAI Holdings Inc., its wholly-owned subsidiary SharonAI Pty Ltd, and Mr. Leece.
The filing details the specific terms of this role variation. Mr. Leece will continue to receive an annual base salary of AUD$563,380, with a USD equivalent of approximately US$400,000 based on an exchange rate of 0.71. He is also set to receive a fixed short-term incentive outcome of AUD$422,535 for his service as Chief Operating Officer, payable after December 31, 2026. Additionally, he remains eligible for a variable incentive of up to 6,416 restricted stock units (RSUs), contingent upon the achievement of key performance indicators.
In terms of equity, Mr. Leece will retain an aggregate of 151,219 unvested RSUs granted under the 2024 and 2025 Omnibus Equity Incentive Plans. These retained RSUs will continue to vest according to Schedule 1 of the Deed of Release, provided Mr. Leece remains in compliance with the restrictive covenants. All other RSUs previously granted to Mr. Leece other than the retained amount have been forfeited as of the Variation Date. The filing notes that Mr. Leece’s existing Indemnification Agreement remains in full force and effect.
The Leece Employment Agreement has been varied to become a fixed-term agreement continuing until March 31, 2027. The agreement will terminate automatically on that date without the need for notice or payment in lieu of notice, though the parties may mutually agree to extend the term. The Deed of Release also includes mutual releases of claims, non-disparagement obligations, and confidentiality obligations between the parties.
