Summary by Moomoo AI
On June 3, 2024, Mangoceuticals, Inc., a company listed on the Nasdaq Capital Market under the trading symbol MGRX, reported significant corporate activities through a Form 8-K filing with the SEC. The company issued 192,308 shares of restricted common stock to a third-party consultant for professional relations and consulting services, with an agreement lasting until May 23, 2025. The consultant will also receive $15,000 monthly and additional stock compensation after six and nine months of service. These transactions are exempt from registration under the Securities Act due to the private nature of the offering and the accredited status of the recipient. Furthermore, Mangoceuticals granted 1,250,000 fully-vested shares to certain officers, an employee, and directors as part of their 2022 Equity Plan. CEO and Chairman Jacob D. Cohen received the largest share allocation with 800,000 shares. The equity awards are a bonus for services rendered in 2024. The company's actions reflect its ongoing compensation strategy and commitment to its executive team and board members.
