Zedge signs new employment agreement with Jonathan Reich as COO

Zedge, Inc. has filed a Form 8-K with the Securities and Exchange Commission detailing a new three-year employment agreement for Jonathan Reich, who now serves as the company's President and Chief Operating Officer. The filing, dated October 19, 2026, outlines the specific financial terms and equity provisions governing Reich's role following his departure from the chief executive position.

The agreement establishes an annual base salary of $390,000, effective August 1, 2026. Under the terms of the contract, this base salary will increase by $15,000 on each July 31 throughout the three-year term, which runs from October 1, 2026, to September 30, 2029. The company is also obligated to pay an annual performance bonus of not less than $124,313 for each fiscal year, beginning with fiscal year 2026.

Reich's transition to the President and Chief Operating Officer role took effect on October 1, 2026. As previously disclosed in an August 31, 2026 filing, he ceased to serve as Chief Executive Officer on September 30, 2026. The new employment agreement formalizes his continued service in the senior leadership capacity with updated compensatory arrangements.

The contract includes provisions for separation pay that can amount to up to two years of base salary, along with a prorated portion of the minimum annual bonus for the fiscal year in which employment terminates. These payments depend on the specific circumstances of the termination, including whether the company terminates employment with or without cause, or if Reich resigns with or without good reason. The agreement also covers scenarios involving death or disability as defined within the contract.

Equity compensation is a significant component of the new deal. Zedge plans to grant Reich an award under its 2026 Equity Incentive Plan within 150 days of October 1, 2026. This award will consist of a combination of restricted stock and deferred stock units representing an aggregate of 100,000 shares of Class B common stock. One-twelfth of these shares will vest immediately on the grant date, while the remaining shares will vest in eleven substantially equal quarterly installments. The award will be fully vested by October 1, 2029.

In the event that Zedge terminates Reich's employment without cause or if he resigns for good reason, the vesting of this equity award will accelerate in full. The full text of the employment agreement is filed as Exhibit 10.1 to the current report and is incorporated by reference into the filing. The document was signed by Yi Tsai, Chief Financial Officer of Zedge, Inc.