James

Mawson Infrastructure Group has taken a firm stand against nondisclosure, withholding 1.35 million restricted stock units (RSU) from their former CEO James Manning. The decision came in the wake of an <a href="https://ultramining.com/news/en/large-scale-cryptocurrency-mining-farm-uncovered-in-dagestans-kizilyurtovsky-district/">investigation</a> revealing that Manning did not adequately disclose related party transactions amounting to $1.3 million. The Pennsylvania-based bitcoin mining firm's Audit Committee made the call, underscoring the importance of transparency in corporate governance, according to <a href="https://theminermag.com/news/2024-02-25/mawson-bitcoin-mining-related-party-transaction-ceo/">TheMinerMag</a>. 
Manning, who stepped down as CEO and president on May 22, 2023, was also set to receive $1.3 million in cash benefits under his separation agreement. However, his failure to disclose transactions with entities where he held significant shares led to the Board's resolution on February 19, 2024, to cancel the equity grants. These grants, at Mawson's current stock value, would be worth approximately $2.2 million. 
Although his May resignation was reportedly amicable, the company later revealed an ongoing investigation into Manning's disclosure practices. The inquiry focused on nearly $1.3 million worth of dealings in the third quarter related to Mawson's administrative expenses. 
Mawson's recent filing emphasized Manning's persistent refusal to fully disclose or verify the accuracy of his related party transactions.&nbsp;

Mawson Pulls Plug on Stock Units for Ex-CEO Over Undisclosed Deals

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