Evernorth Updates SEC Filing Amid Nasdaq Listing Push

Evernorth Holdings has updated its SEC filing for its planned $1B XRP treasury after finalizing employment terms for three senior executives. The company is working towards a Nasdaq listing and a merger with Armada Acquisition Corp II, trading under the ticker XRPN.

The amended Form S-4 registration statement includes new employment agreements for chief legal officer Jessica Jonas, chief business officer Sagar Shah, and chief operating officer Meg Nakamura. Each executive is eligible for an annual bonus equal to 50% of their base salary, as well as restricted stock units and employee benefits.

Jonas would receive an initial equity award valued at approximately $4.5 million, while Shah and Nakamura would each receive awards worth about $2.8 million. The agreements complete the company's disclosed compensation arrangements for its main leadership team.