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Posted 05 April, 2024

EXP World Holdings, Inc. appointed Leo Pareja as new CEO

Nasdaq:EXPI appointed new Chief Executive Officer Leo Pareja in a 8-K filed on 05 April, 2024.


  On April 5, 2024, eXp World Holdings, Inc. (the "Company"), appointed Leo Pareja as Chief Executive Officer, eXp Realty, LLC, effective immediately.  

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Overview of EXP World Holdings, Inc.
Media/Entertainment • Publishing
eXp World Holdings, Inc. operates as a cloud-based real estate brokerage firm. It focuses on the development and use of cloud-based technologies in order to grow an international brokerage without the burden of physical brick and mortar offices and redundant staffing costs. The firm offers software subscriptions to customers to access its virtual reality software platform through VirBELA. The company was founded by Glenn Darrel Sanford on July 30, 2008 and is headquartered in Bellingham, WA.
Market Cap
$1.93B
View Company Details
EXP World Holdings, Inc. by TradingView
Relevant filing section
Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers


On April 5, 2024, eXp World Holdings, Inc. (the "Company"), appointed Leo Pareja as Chief Executive Officer, eXp Realty, LLC, effective immediately. As part of this appointment, the Board of Directors of the Company approved the following compensatory arrangements with Mr. Pareja: annual base salary of $750,000; annual bonus opportunity targeted at 50% of annual base salary; an award of options to purchase common stock of the Company ("Common Stock"), with a fair value of $1,300,000 under generally accepted accounting principles ("Fair Value"); and four awards of restricted stock units covering Common Stock, each with a Fair Value of $325,000. The option award and first restricted stock unit award will be granted effective on the first trading day following the Company's current quarterly blackout period (or as soon as reasonably practicable thereafter) (the "Initial Grant Date"). Each of the remaining three restricted stock unit awards will be granted effective on the first, second, and third anniversaries of the Initial Grant Date. The option award will be eligible to vest in equal quarterly installments over a four-year period following the Initial Grant Date and will otherwise be subject to the terms and conditions of the Company equity compensation plan under which it is granted. Each restricted stock unit award will be eligible to vest in equal quarterly installments over a one-year period following its effective grant date and will otherwise be subject to the terms and conditions of the Company equity compensation plan under which it is granted. Each award is subject to Mr. Pareja's continued service through the effective grant date. The option award will have an exercise price at least equal to the closing stock price of a share of Common Stock on the trading day immediately preceding the Initial Grant Date. The option award will have an exercise price at least equal to the closing stock price of a share of Common Stock on the trading day immediately preceding the Initial Grant Date. Each award is subject to Mr. Pareja's continued service through the effective vesting date.