Summary by Moomoo AI
Riot Platforms, Inc., a Nevada-based company listed on the Nasdaq Capital Market under the trading symbol RIOT, has announced the appointment of Mr. Stephen Howell as the new Chief Operating Officer (COO), effective June 1, 2024. Mr. Howell, 48, brings extensive experience to the role, having previously served as CEO of Riot's subsidiary, ESS Metron, LLC, and in various leadership positions within the electrical distribution systems engineering and sales industry. His new responsibilities as COO include overseeing operations and strategic growth initiatives, such as the integration of new development projects and acquisitions. Concurrent with his appointment, Mr. Howell entered into an Executive Employment Agreement with Riot, which includes a $400,000 annual base salary, eligibility for annual cash incentives, equity compensation, and other benefits consistent with Riot's executive officers. Additionally, Mr. Howell is enrolled in the Long-Term Incentive Program (LTIP) with a contingent award of up to 373,927 shares of Riot's common stock, subject to vesting over a three-year term based on service and performance criteria.