Evernorth Holdings Reveals 50% Top-Manager Bonuses Ahead of Nasdaq Listing

Evernorth Holdings, the XRP fund gearing up for a Nasdaq listing under the ticker XRPN, has revealed its executive compensation structure. The company's key executives received contracts that include target bonuses equal to 50% of their salaries and multimillion-dollar equity packages.

The move is intended to motivate the team during this stage as the company finalizes its merger with Armada Acquisition Corp. II, a SPAC platform backed by Arrington Capital.

According to Amendment No. 5 to its Form S-4 filed with the SEC, Chief Legal Officer Jessica Jonas received a base salary of $400,000 and an RSU package worth $4.5 million. Chief Growth Officer Sagar Shah and Chief Operating Officer Megumi Nakamura each received $300,000 in fixed annual compensation and $2.8 million in equity awards.

The company currently holds 473 million XRP tokens and has recognized a $38.4 million impairment loss on its digital assets due to the recent decline in the token's price.