Company: SOBR
Filing Date: 2025-06-13
Form Type: PRE 14A
Source: 0001477932-25-004596
Chunk: 30

Company: SOBR Safe, Inc.
Filing Date: 2025-06-13
Form: PRE 14A
Chunk 30
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 | $ |            232,842 |     | $ |            882,268 |   |     | $ |          8,578,997 |     | $ |         2,790,147 |     | $ |         8,834,042 |

| 17 |

Since 2019 the Company has been developing products leveraging proprietary transdermal (touch-based) technology to identify the presence of alcohol quickly and hygienically. During 2022, the Company raised approximately $19.5M in support of the first product sales, continued product development, sales force deployment and its operational structure to support future sales growth. During 2024, the Company raised approximately $13.5M to further commercial product and software development, support initial consumer and enterprise marketing campaigns, augment our sales force and continue to develop the corporate structure to support operational and sales growth initiatives.

As a result of the Company’s transition in 2022 from a development stage level of operations to initial product sales, the PEOs’ and non-PEO NEOs’ level of compensation is consistent with the necessary experience required to raise capital, develop products, launch to customer markets and generate revenue. The comparison of the decline in investment value and losses incurred to the PEO and non-PEO NEO compensation are reflective of the Company moving from a limited shareholder base and trading volumes, and the required investments for product and market development to generate revenue.

Employment Contracts

David Gandini. On January 30, 2023, we entered into an employment agreement with Mr. Gandini to continue to serve as our Chief Executive Officer through December 31, 2025 (the “Term”). The Term will automatically renew for additional terms of one year unless written notice not to renew is otherwise given by either Mr. Gandini or the Company.

Under the terms of the employment agreement, Mr. Gandini will receive an annual base salary of $300,000. For each subsequent calendar year of the Term and renewal terms, Mr. Gandini will receive salary adjustments as recommended by the Compensation Committee and approved by the Company’s Board of Directors (the “Board”). Mr. Gandini is also entitled to participate in the Company’s Annual Bonus Plan and any and all other incentive payments available to executives of the Company. Mr. Gandini may also be provided with regular equity grants commensurate with his role and as awarded by the Board pursuant to the Company’s 2019 Equity Incentive Plan.

Chris Whitaker. On May