Evernorth Holdings has updated its SEC filing to include new employment deals for three senior executives, featuring equity awards totaling nearly $10 million as it prepares for a Nasdaq debut and a $1 billion XRP public treasury.
The company disclosed that chief legal officer Jessica Jonas will receive an initial equity package valued at approximately $4.5 million, while chief business officer Sagar Shah and chief operating officer Meg Nakamura will each be granted awards worth about $2.8 million. These equity incentives fall under Evernorth's 2026 Omnibus Incentive Plan but still require shareholder and compensation committee approval.
Despite originally targeting a $1 billion XRP treasury, Evernorth’s XRP holdings have dropped to around $640 million due to declining XRP prices. The company is also advancing its merger with Armada Acquisition Corp II, planning to list on Nasdaq under the ticker XRPN. This move follows prior filings that set CEO Asheesh Birla’s compensation package at around $44 million, including stock awards tied to his ongoing employment and the transaction.
Evernorth’s latest filings show the firm ironing out governance and leadership pay structures ahead of completing its public listing. The substantial equity awards reflect confidence in the company’s growth prospects amid volatile XRP market conditions.
This article is for informational purposes and does not constitute financial advice.
