{"url_path":"/sec/ezra/8-k/2026-06-25/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 ****Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-25","source_url":"https://www.sec.gov/Archives/edgar/data/1812727/0001493152-26-030196-index.html","accession_number":"0001493152-26-030196","cik":"0001812727","ticker":"EZRA","issuer_name":"Reliance Global Group, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1812727/0001493152-26-030196-index.html","primary_entity_key":"0001812727","primary_entity_name":"Reliance Global Group, Inc."},"word_count":2452,"has_tables":true,"body_markdown":"** **\n\n**Item\n5.02****Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements\nof Certain Officers.**\n\n \n\nOn\nJune 18, 2026, the Board of Directors (the “Board”) of Reliance Global Group, Inc. (the “Company”) appointed\nJudah Korman as Chief Operating Officer of the Company and Zack Wilder as Chief Technology Officer of the Company, and promoted Mordy\nBeyman to Vice President of the Company, in each case effective June 18, 2026.\n\n \n\n**Judah\nKorman — Chief Operating Officer**\n\n \n\nMr.\nJudah Korman, age 34, was appointed to serve as the Company’s Chief Operating Officer. Mr. Korman has more than a decade of experience\nfounding, building and scaling consumer technology, marketplace and platform businesses, and in capital raising and investment activities\nacross the consumer technology, logistics, life sciences and real estate sectors. Since 2024, Mr. Korman has served as Founder and Chief\nExecutive Officer of Chatcast, a consumer media application. Since 2023, Mr. Korman has led capital-raising activities for Innervate\nRadiopharmaceuticals, a venture-backed biotechnology company. From 2018 to 2023, he served as Founder and Chief Investment Officer of\nJMK Capital, a real estate investment and development firm. From 2020 to 2023, he served as Founder and Chief Executive Officer of Famclub,\na creator mini-series platform. From 2013 until its acquisition in 2020, he served as Founder of Cinch Delivery Co., a mobile logistics\nand delivery marketplace. Earlier in his career, from 2016 to 2018, he served as a private equity analyst at Nashone Inc.\n\n \n\nMr.\nJudah Korman is the son of Scott Korman, a member of the Company’s Board of Directors. Other than as described below under “Related\nParty Transaction,” there are no other family relationships between Mr. Judah Korman and any director or executive officer of the\nCompany required to be disclosed under Item 401(d) of Regulation S-K.\n\n \n\n**Related\nParty Transaction.**In connection with his appointment, the Company has agreed to provide compensatory arrangements to Mr. Judah Korman\nas described below under “Compensatory Arrangements.” Because Mr. Judah Korman is an immediate family member of Scott Korman,\na director of the Company, his employment and the related compensation constitute a related party transaction for purposes of Item 404(a)\nof Regulation S-K. The aggregate value of Mr. Korman’s annual compensation arrangement, consisting of a base salary of $300,000\nand an annual equity award having a grant-date value of $300,000, exceeds $120,000. The terms of Mr. Korman’s appointment and compensation\nwere reviewed and approved by the disinterested members of the Board, with Scott Korman recusing himself from the deliberation and approval\nof the matter. In addition, Mr. Judah Korman serves as a manager of LifeSci Global Group LLC (“LifeSci Global”), a subsidiary\nof the Company’s EZRA International Group platform, in which the Company holds an investment and which is led by Scott Korman,\na director of the Company. Mr. Judah Korman holds no equity, membership or other financial interest in LifeSci Global, receives no compensation\nfor serving as a manager thereof, and disclaims beneficial ownership of, and any pecuniary interest in, the equity, assets and investments\nof LifeSci Global, including its investment in Innervate Radiopharmaceuticals.\n\n \n\n \n\n \n\n** **\n\n**Compensatory\nArrangements.**In connection with his appointment as Chief Operating Officer, the Company agreed to provide Mr. Korman with an annual\nbase salary of $300,000 and an annual equity award having a grant-date value of $300,000, with the number of underlying shares to be\ndetermined based on the grant-date value of the Company’s common stock and the awards to be granted under, and subject to the terms\nof, the Company’s 2025 Equity Incentive Plan, as amended (the “2025 Plan”). As an initial tranche of such annual equity\naward, on June 24, 2026 the Compensation Committee of the Board granted Mr. Korman 21,941 shares of restricted Common Stock under the\n2025 Plan, vesting in substantially equal installments on July 1, July 15, August 4, August 18, September 1 and September 15, 2026. As\nof the date of this Current Report, the Company and Mr. Korman have not entered into a written employment agreement with respect to the\nforegoing arrangement. If the Company and Mr. Korman enter into a written agreement in the future, the Company will file or incorporate\nsuch agreement as required and disclose its material terms.\n\n \n\nThere\nare no arrangements or understandings between Mr. Judah Korman and any other persons pursuant to which he was selected as an officer,\nother than as described above. Except as described above, there are no transactions involving Mr. Judah Korman that would require disclosure\nunder Item 404(a) of Regulation S-K.\n\n \n\n**Zack\nWilder — Chief Technology Officer**\n\n \n\nMr.\nZack Wilder, age 39, was appointed to serve as the Company’s Chief Technology Officer. Mr. Wilder is a software engineer with experience\nbuilding and leading the development of consumer-facing and developer-facing software platforms in the financial technology sector. From\nSeptember 2025 to June 2026, Mr. Wilder served as a Frontend Tech Lead at Capital One, a diversified financial services company, where\nhe led the architecture and implementation of card-based authentication products and related developer tools. From April 2021 to April\n2024, Mr. Wilder served as a Software Engineer at Coinbase, a cryptocurrency exchange and developer platform, where he designed and implemented\nfrontend infrastructure for the Coinbase Developer Platform, including automated testing and metrics frameworks. From April 2024 to September\n2025, Mr. Wilder was not employed on a full-time basis and devoted his time to independent software development projects. Earlier in\nhis career, Mr. Wilder served as a Software Engineer at Blink Health, a healthcare technology company, from December 2018 to March 2020,\nand at Simplifeye, a healthcare software company, from April 2018 to November 2018. Mr. Wilder does not currently serve, and has not\nduring the past five years served, as a director of any company with a class of securities registered under the Securities Exchange Act\nof 1934, as amended, or subject to the requirements of Section 15(d) thereof, or of any registered investment company.\n\n \n\n**Family\nRelationships.**There are no family relationships between Mr. Wilder and any director or executive officer of the Company required\nto be disclosed under Item 401(d) of Regulation S-K.\n\n \n\n**Related\nParty Transactions.**There are no transactions involving Mr. Wilder that would require disclosure under Item 404(a) of Regulation\nS-K.\n\n \n\n**Compensatory\nArrangements.**In connection with his appointment as Chief Technology Officer, the Company agreed to provide Mr. Wilder with an annual\nbase salary of $300,000 and an annual equity award in the form of restricted Common Stock having a grant-date value of $300,000, with\nthe number of underlying shares to be determined based on the grant-date value of the Company’s common stock and the awards to\nbe granted under, and subject to the terms of, the 2025 Plan. No shares were granted to Mr. Wilder in the Compensation Committee’s\nJune 24, 2026 grant described below, and the number of shares underlying, and the vesting schedule for, Mr. Wilder’s equity award\nremain to be determined. As of the date of this Current Report, the Company and Mr. Wilder have not entered into a written employment\nagreement with respect to the foregoing arrangement. If the Company and Mr. Wilder enter into a written agreement in the future, the\nCompany will file or incorporate such agreement as required and disclose its material terms.\n\n \n\nThere\nare no arrangements or understandings between Mr. Wilder and any other persons pursuant to which he was selected as an officer.\n\n \n\n \n\n \n\n \n\n**Mordy\nBeyman — Vice President**\n\n \n\nMr.\nMordy Beyman, age 29, was promoted to serve as a Vice President of the Company. Mr. Beyman has served with the Company since September\n2024, most recently as its Director of Business Development in which capacity he has focused on business development and strategic initiatives\nfor the Company. Prior to joining the Company, Mr. Beyman devoted himself to full-time religious and academic study, attending the Mir\nYeshiva in Jerusalem, Israel, and Beth Medrash Govoah in Lakewood, New Jersey, from 2019 through 2024. Mr. Beyman does not currently\nserve, and has not during the past five years served, as a director of any company with a class of securities registered under the Securities\nExchange Act of 1934, as amended, or subject to the requirements of Section 15(d) thereof, or of any registered investment company.\n\n \n\n**Family\nRelationship.**Mr. Mordy Beyman is the son of Ezra Beyman, the Chairman of the Board and Chief Executive Officer of the Company. Other\nthan as described below under “Related Party Transaction,” there are no other family relationships between Mr. Mordy Beyman\nand any director or executive officer of the Company required to be disclosed under Item 401(d) of Regulation S-K.\n\n \n\n**Related\nParty Transaction.**In connection with his promotion, the Company has agreed to provide compensatory arrangements to Mr. Mordy Beyman\nas described below under “Compensatory Arrangements.” Because Mr. Mordy Beyman is an immediate family member of Ezra Beyman,\nthe Chairman of the Board and Chief Executive Officer of the Company, his employment and the related compensation constitute a related\nparty transaction for purposes of Item 404(a) of Regulation S-K. The aggregate value of Mr. Mordy Beyman’s annual compensation\narrangement, consisting of a base salary of $150,000 and an annual equity award having a grant-date value of $150,000, exceeds $120,000.\nThe terms of Mr. Mordy Beyman’s promotion and compensation were reviewed and approved by the disinterested members of the Board,\nwith Ezra Beyman recusing himself from the deliberation and approval of the matter.\n\n \n\n**Compensatory\nArrangements.**In connection with his promotion to Vice President, the Company agreed to provide Mr. Mordy Beyman with an annual base\nsalary of $150,000 and an annual equity award in the form of restricted Common Stock having a grant-date value of $150,000, with the\nnumber of underlying shares to be determined based on the grant-date value of the Company’s common stock and the awards to be granted\nunder, and subject to the terms of, the 2025 Plan. As an initial tranche of such annual equity award, on June 24, 2026 the Compensation\nCommittee of the Board granted Mr. Mordy Beyman 7,314 shares of restricted Common Stock under the 2025 Plan, vesting in substantially\nequal installments on July 1, July 15, August 4, August 18, September 1 and September 15, 2026. As of the date of this Current Report,\nthe Company and Mr. Mordy Beyman have not entered into a written employment agreement with respect to the foregoing arrangement. If the\nCompany and Mr. Mordy Beyman enter into a written agreement in the future, the Company will file or incorporate such agreement as required\nand disclose its material terms.\n\n \n\n \n\n \n\n \n\nThere\nare no arrangements or understandings between Mr. Mordy Beyman and any other persons pursuant to which he was selected as an officer,\nother than as described above. Except as described above, there are no transactions involving Mr. Mordy Beyman that would require disclosure\nunder Item 404(a) of Regulation S-K.\n\n \n\n**Compensation\nof Chief Executive Officer**\n\n \n\nOn\nJune 25, 2026, the Compensation Committee of the Board, comprised solely of independent directors, approved the compensation of Ezra\nBeyman, the Company’s Chairman and Chief Executive Officer, effective July 1, 2026. As approved, Mr. Beyman’s annual compensation\nconsists of: (i) an annual base salary of $513,000; (ii) a target annual cash bonus of $593,000, payable in monthly installments and\ndetermined by the Compensation Committee in its discretion based on its evaluation of the performance of the Company and its business\nlines; (iii) a fully vested stock award having an aggregate grant-date value of $1,058,000, to be issued under the 2025 Plan, with the\nnumber of shares to be determined by reference to the closing price of the Company’s common stock on the applicable grant date;\nand (iv) payment by the Company of the annual premium, in the amount of $45,000, on a $1,000,000 life insurance policy on Mr. Beyman’s\nlife, payable in monthly installments. The components of Mr. Beyman’s compensation are unchanged from those in effect during the\nprior year, other than the addition of the life insurance premium described in clause (iv).\n\n \n\nThe 151,575\nshares of restricted Common Stock granted to Mr. Beyman on June 24, 2026, described under “Equity Grants to Directors and\nOfficers” below, were granted as a component of, and are reflected in, the overall compensation approved by the Compensation\nCommittee on June 25, 2026 as described above. The net remaining fully vested stock award described in clause (iii) above had\nnot been granted as of the date of this Current Report. In approving Mr. Beyman’s compensation, the Compensation\nCommittee reviewed and relied upon the written analysis and market benchmarking data of Meridian Compensation Partners, LLC, an\nindependent compensation consultant engaged by the Compensation Committee, which concluded that the compensation is reasonable and\nwithin market norms. As Mr. Beyman’s compensation relates to the Company’s principal executive officer, who is also a\ndirector, it was approved by the Compensation Committee without the participation of any interested director.\n\n \n\n**Equity\nGrants to Directors and Officers**\n\n \n\nOn\nJune 24, 2026, the Compensation Committee of the Board approved, and the Company granted, awards of restricted shares of Common Stock\nunder the 2025 Plan to certain of the Company’s directors, officers and employees, in consideration of services rendered to the\nCompany, at a grant-date closing price of $3.455 per share. Each such award vests in installments on July 1, July 15, August 4, August\n18, September 1 and September 15, 2026, except as otherwise noted below. The number of shares granted to, and the approximate grant-date\nvalue of the award received by, each of the Company’s directors and executive officers is set forth in the following table:\n\n \n\nName \nPosition \n\nShares\n\nGranted\n  \nApproximate Grant-Date Value \n\nEzra Beyman \nChairman and Chief Executive Officer \n 151,575  \n$523,691 \n\nJoel Markovits \nChief Financial Officer \n 23,039  \n$79,600 \n\nYaakov Beyman \nExecutive Vice President, Insurance Division \n 20,113  \n$69,490 \n\nJudah Korman \nChief Operating Officer \n 21,941  \n$75,806 \n\nMordy Beyman \nVice President \n 7,314  \n$25,270 \n\nScott Korman \nDirector \n 7,168  \n$24,765 \n\nBen Fruchtzweig \nDirector \n 7,168  \n$24,765 \n\nSheldon Brickman \nDirector \n 7,168  \n$24,765 \n\nAlex Blumenfrucht \nDirector \n 7,168  \n$24,765 \n\n \n\n \n\n \n\n \n\nThe\nshares granted to Mr. Scott Korman vested in full on July 1, 2026. The grants to Mr. Judah Korman and Mr. Mordy Beyman represent the\ninitial tranches of the annual equity awards described above under their respective biographies. The Compensation Committee, which is\ncomposed solely of independent directors (Messrs. Fruchtzweig, Brickman and Blumenfrucht), approved the foregoing grants. Because each\nof Ezra Beyman, Yaakov Beyman, Mordy Beyman and Judah Korman is an executive officer who is an immediate family member of the Chairman\nand Chief Executive Officer or of a director, and because Scott Korman is a director, the equity awards to such persons constitute related\nparty transactions for purposes of Item 404(a) of Regulation S-K. The Company also granted restricted shares of Common Stock under the\n2025 Plan on June 24, 2026 to certain non-executive employees, which grants are not required to be, and are not, separately disclosed\nherein."}