Evernorth Holdings, the largest XRP treasury preparing to debut on Nasdaq as XRPN, has unveiled hefty executive bonuses and equity awards amid its merger plans. The firm’s latest SEC filing reveals that key leaders are set to receive bonuses reaching half their annual salaries, alongside multimillion-dollar stock packages.
Executive pay tied to growth targets
The company disclosed these details in Amendment No. 5 of its Form S-4, showing aggressive compensation designed to drive expansion. Chief Legal Officer Jessica Jonas, for example, earns a $400,000 base salary plus $4.5 million in restricted stock units. Chief Growth Officer Sagar Shah and COO Megumi Nakamura each have $300,000 fixed pay and $2.8 million in equity awards.
Evernorth is finalizing a merger with Armada Acquisition Corp. II, a SPAC supported by Arrington Capital, positioning itself as the world’s largest publicly traded XRP treasury. This move comes as the crypto market remains challenging, with Evernorth holding a reserve of 473 million XRP tokens despite a $38 million paper loss recently.
The company raised over $1 billion in gross proceeds to build its position, betting on its Nasdaq listing to boost visibility and capital access. These executive incentives appear crafted to retain leadership during this key growth phase ahead of trading under the ticker XRPN.
This material is informational and not financial advice.
