SmartKem approved a transaction retention bonus plan for CEO Ian Jenks, CFO Barbra Keck, and four independent directors to incentivize efforts through the consummation of its merger with Ferrox Critical Minerals and the filing of the Form S-4. The aggregate bonus pool is up to $750,000, split into two tranches: Tranche 1 became payable upon Board approval on September 16, 2026, while Tranche 2 is payable upon the Form S-4 filing. Recipients face a 100% clawback if they resign before the earlier of the transaction closing or June 30, 2027. Specific allocations include $200,000 for Jenks and $150,000 for Keck in Tranche 1. SmartKem operates in the critical minerals sector, focusing on lithium extraction technologies.
