{"url_path":"/sec/frgt/10-k/2026/item-6","section_key":"item-6","section_title":"Item 6 DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1687542/0001493152-26-023206-index.html","accession_number":"0001493152-26-023206","cik":"0001687542","ticker":"FRGT","issuer_name":"Freight Technologies, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1687542/0001493152-26-023206-index.html","primary_entity_key":"0001687542","primary_entity_name":"Freight Technologies, Inc."},"word_count":4000,"has_tables":true,"body_markdown":"** **\n\nITEM\n6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES\n\n \n\n**6.A.\nDirectors and Senior Management**\n\n \n\nThe\nfollowing table sets forth certain information regarding our directors and executive officers.\n\n \n\n**Name**\n \n**Age**\n \n**Position**\n\nJavier\nSelgas\n \n41\n \nChief\nExecutive Officer and Director\n\nDonald\nQuinby\n \n51\n \nChief\nFinancial Officer\n\nLuisa\nIrene Lopez Reyes\n \n54\n \nChief\nOperating Officer\n\nNicholas\nH. Adler\n \n50\n \nDirector,\nChairman of the Board\n\nMarc\nUrbach\n \n53\n \nDirector\n\nLeilei\nNie\n \n44\n \nDirector\n\nAndres\nGonzalez\n \n45\n \nDirector\n\nPaul\nFreudenthaler\n \n61\n \nSecretary\n\n \n\n**Javier\nSelgas,**Chief Executive Officer and Director, joined the Company in March 2020, initially serving as Fr8App’s Chief Technology\nOfficer from March to September 2020, responsible for Fr8App’s technologies and products. From May 2017 to March 2020, Mr. Selgas\nwas the Country Manager for Osigu, a healthcare technology company, leading their operations in Spain. From February 2013 to May 2017,\nhe headed AJE Group’s IT division in the Asia Pacific region playing a key role in the development of strategic IT growth and supplier\nrelationships. Prior to joining AJE Group, Mr. Selgas served as an IT consultant to large enterprise corporations in Spain such as Endesa\nand Ibermatica. He earned a Master’s Degree from Barcelona University, and a Bachelor of Science degree in Software Engineering\nfrom European University.\n\n \n\n**Donald\nQuinby**, Chief Financial Officer, joined Fr8Tech in January 2024. Mr. Quinby was previously, starting February 2018, a Finance\nDirector covering financial planning and analysis and investor relations at Nextracker Inc., a leader in utility scale solar tracker\nand software solutions company. From 2016 to 2018, Mr. Quinby was a Finance Director for a smart-home residential solar business at Flex,\npreceded by being a Senior Manager of Financial Planning & Analysis for SunEdison’s Residential and Small Commercial solar\nbusiness from 2015 to 2016. Mr. Quinby was a Senior Manager of Business Finance at Dolby Laboratories from 2009 to 2015. From 2004 to\n2008, he was a Senior Manager, then Director with KPMG, LLP’s Transaction Services, providing Mergers and Acquisitions advisory\nservices on numerous deals for private equity and corporate clients. Mr. Quinby received an MBA from the University of California at\nDavis and a BA from Colby College. He has been a Chartered Financial Analyst charter holder since 2007.\n\n \n\n**Luisa\nIrene Lopez Reyes**, Chief Operating Officer, joined Fr8App in August 2021. From December 2017 to July 2021, Ms. Lopez helped start\nLandstar operations in Mexico and to develop business for domestic and cross border divisions. From October 2015 to November2017 she\nserved as an Operations Director for the School and Personnel Transportation Division of GRUPO TRAXION. Ms. Lopez previously served as\nan operational leader for several international companies, including Editorial Televisa from 2015 to 2017, Danone Water Division in 2014,\nPriceShoes from 2009 to 2013, ConAgra Foods from 2006 to 2009, and Nestlé from 2000 to 2006. During her professional career, she\nhas received awards for best logistics provider from WM and DHL for innovation and IT platforms implementation achieving efficiencies\nin logistics processes. Ms. Lopez has Business Coaching Masters, Supply Chain Management Certification and a Bachelor’s Degree\nin Public Relations.\n\n \n\n**Nicholas\nH. Adler**, Chairman of the Board, is a practicing attorney in Nashville, Tennessee specializing in defense litigation, bankruptcy,\nforeclosure, and real estate matters. He has been a partner at Brock & Scott PLLC since 2012. Mr. Adler is admitted to practice law\nin New York and Tennessee as well as all Federal districts within Tennessee. After his graduation from law school, Nick practiced with\na large international firm in New York specializing in securities regulation. Since 2005, his practice has focused on the representation\nof national and regional credit grantors in Tennessee. He is also active in real estate development and asset management in Nashville.\nNick earned his B.A. in political science from Vanderbilt University and his J.D. from The Washington and Lee University School of Law.\n\n \n\n**Marc\nUrbach**, a current member of Fr8App’s Board of Directors and Chairman of the Audit Committee, is the owner of Doorstep Delivery\nLogistics LLC and has served as its Chief Executive Officer since August 2020, and consultant at OTS Ventures Inc. since January 2017.\nPrior to that, he was the President/CFO and board member of Ideanomics, Inc. (formerly known as YOU On Demand Holdings, Inc.). Mr. Urbach\nhas been an executive at various private and public companies in the past 25 years. He earned a B.S. in Accounting from Babson College.\n\n \n\n**Leilei\nNie**, a current member of Fr8App’s Board of Directors, is a Strategy and Business Project Management professional with over\n17 years of experience in financial services and fintech. She has been leading project management at X Star Technology, a leading non-bank\ncar financing institution in Singapore since January 2025. Previously, Ms. Nie was a Senior Project Manager at Fidelity Fund Management\n(China) from May 2022 to June 2024 and a Senior Manager at Accenture from July 2021 to April 2022, focusing on financial services in\nGreater China. From December 2016 to June 2021, she served as Deputy Director in the Strategy and CEO Office at OneConnect Financial\nTechnology, the fintech arm of Ping An Group in China. Her earlier roles include Strategy Manager at Commonwealth Bank of Australia (China)\nfrom January 2014 to December 2016 and Senior Associate at Z-Ben Advisors from June 2012 to December 2013, advising global asset managers\non China market entry. Ms. Nie began her career in marketing roles at iFast Financial and Prudential Asset Management in Singapore from\nJune 2005 to July 2010. Ms. Nie earned an MBA from China Europe Business School in April 2012 and a Bachelor’s degree in Computing\nfrom the National University of Singapore in May 2005. Ms. Nie is a Singaporean citizen.\n\n \n\n51\n\n \n\n \n\n**Andres\nGonzalez**, a member of Fr8App’s Board of Directors, has served as the Chief Executive Officer of Futura Reserva, an investment\nmanagement company focused on the development and investment of residential, mixed-use, industrial, and hospitality real estate projects\nin Mexico since 2024. Prior to joining Futura Reserva, Mr. González served as Executive Vice President and Managing Director of\nCapital Natural (now CREO) from October 2014 to May 2024. From February 2013 to October 2014, Mr. González had held senior management\npositions at Grupo MRP and Promologistics, where he was responsible for the oversight of infrastructure, shopping center, and logistics\nprojects at a national level. Mr. González currently serves as an independent board member of Terra Energy and has been an active\nparticipant in organizations such as Young Presidents Organization since October 2021 and ECO since January 2025. He has also served\nas a faculty member for the Master’s in Finance program at Egade Business School, teaching at both the Monterrey and Santa Fe campuses\nfrom July 2021 to July 2023. Mr. Gonzalez earned a Bachelor’s degree in Accounting and Finance from Tec de Monterrey in December\n2004 and later obtained an MBA with a specialization in Finance from Egade Business School in December 2016. Mr. Gonzalez has also completed\nleadership and management courses at Kellogg School of Management in May 2024, Columbia Business School in November 2018, and Babson\nCollege in 2015.\n\n \n\n**Paul\nFreudenthaler**, Secretary, joined Fr8Tech in September 2020, and served as Chief Financial Officer until January 19, 2024. He\nsubsequently served as a member of the Board from January 19, 2024 until February 14, 2025. Prior to joining Fr8Tech, Mr. Freudenthaler\nserved as the chief financial officer for several leading companies in both the U.S. and Mexico. From August 2015 to April 2016, he was\nthe chief financial officer for EZ Corp., the Mexico division of Crediamigo, a payroll discount lender. Mr. Freudenthaler served the\nchief financial officer of Ascentium Capital, an independent small business lender in the U.S., from November 2016 to August 2020, of\nOld Mutual in Latin America from June 2012 to July 2015, of Macquarie in Mexico City from June 2009 to May 2012, and of Irwin Union Bank\nin the United States from August 2005 to August 2008. Mr. Freudenthaler earned an MBA in Finance from The Wharton School of Business,\na CPA License from Texas State Board of Public Accounting, and a Bachelor of Commerce in Accounting and Economics from the University\nof Calgary, Canada.\n\n \n\n6.B.\nCompensation of Board Members and Executives\n\n \n\nThe\nfollowing table sets forth information concerning all cash and non-cash compensation awarded to, earned by or paid to the named persons\nfor services rendered in all capacities during the noted periods. No other executive officers received total compensation in excess of\n$100,000.\n\n \n\nName and Principal Position \nYear  \n\n**Salary**\n\n**($)**\n  \n\n**Bonus**\n\n**($)**\n  \n\n**Stock Awards**\n\n**($)**\n  \n\n**Option Awards**\n\n**($)**\n  \n\n**All Other Compensation**\n\n($)\n  \n\n**Total**\n\n**($)**\n \n\nJavier Selgas \n 2025  \n 275,000  \n 22,917  \n -  \n -  \n 16,647  \n 314,564 \n\n(Chief Executive Officer) \n 2024  \n 275,000  \n 16,297  \n -  \n -  \n 41,465  \n 332,762 \n\nDonald Quinby \n 2025  \n 250,000  \n -  \n -  \n -  \n 10,000  \n 260,000 \n\n(Chief Financial Officer) \n 2024  \n 224,038  \n -  \n -  \n -  \n 4,327  \n 228,365 \n\nLuisa Irene Lopez Reyes \n 2025  \n 151,986  \n 12,953  \n -  \n -  \n 17,544  \n 182,484 \n\n(Chief Operating Officer) \n 2024  \n 151,722  \n 12,930  \n -  \n 72,800  \n 30,313  \n 194,965 \n\nPaul Freudenthaler \n 2025  \n 3,422  \n -  \n -  \n -  \n -  \n 3,422 \n\n(Secretary) \n 2024  \n 8,654  \n -  \n -  \n -  \n -  \n 8,654 \n\n \n\n**Employment\nAgreements and Indemnification Agreements**\n\n \n\nOur\ncurrent Chief Executive Officer, Javier Selgas, joined Fr8Tech in March 2020 as its Chief Technology Officer, and became our Chief Executive\nOfficer in September 2020. Our Chief Financial Officer, Donald Quinby, joined Fr8Tech in January 2024. Our Chief Operating Officer, Luisa\nIrene Lopez Reyes, joined Fr8Tech in August 2021. Set forth below are compensation arrangements based on their current employment agreements\nwith the Company. All employment agreements were continued under the same terms at the time of the Merger and all options and equity\ncompensation items adjusted consistent with the exchange ratio related the Merger.\n\n \n\n52\n\n \n\n \n\nUnder\nthe employment agreement between Mr. Selgas and Fr8Tech, Mr. Selgas serves as Fr8Tech’s Chief Executive Officer, receives an annual\nbase salary of $250,000 and is eligible for benefits and a discretionary bonus payable in the first fiscal quarter after the end of each\nfiscal year. In April 2023, he was awarded a stock option grant for 440 ordinary shares of Fr8Tech at $455.00 per share, vesting over\nfour years starting in April 2023. In the event Mr. Selgas is terminated without cause or for good reason, he will be entitled to receive\ncontinued payment of his base salary for six months immediately following the termination date.\n\n \n\nUnder\nthe employment agreement between Mr. Donald and Fr8Tech, Mr. Donald Quinby receives an annual base salary of $250,000, paid in periodic\ninstallments, subject to payroll deductions and other tax withholdings in accordance with the Company’s customary payroll practices\nand applicable wage payment laws, but no less frequently than monthly. Mr. Quinby is eligible to receive a discretionary bonus based\non performance as determined by our board of directors. Pursuant to his Employment Agreement with the Company, the Company will grant\nMr. Quinby such number of options to purchase Company shares under Freight Technologies, Inc. 2022 Equity Incentive Plan representing\n$220,000 in intrinsic value.\n\n \n\nUnder\nthe employment agreement between Ms. Luisa and Fr8Tech, Ms. Luisa Irene Lopez Reyes serves as Fr8Tech’s and Freight App de Mexico’s\nChief Operating Officer, receives an annual base salary of MXN$3,000,000 and is eligible to receive a discretionary bonus payable within\nthe first 2-1/2 months after the end of the applicable fiscal year. In April 2023, she was awarded a stock option grant for 160 ordinary\nshares of Fr8Tech at $455.00 per share, vesting over four years starting in April 2023. In the event that Ms. Reyes is terminated without\ncause or for good reason, she will be entitled to receive continued payment of her base salary for three months immediately following\nthe termination date.\n\n \n\nMr.\nPaul Freudenthaler served as Fr8Tech’s Chief Financial Officer from September 2020 to January 2024. Under his Employment Agreement\nwith Fr8Tech, he received an annual base salary of $250,000 and was eligible to receive a discretionary bonus payable in the first fiscal\nquarter after the end of each fiscal year. In April 2023, he was awarded a stock option grant for 440 ordinary shares of Fr8Tech at $455.00\nper share, vesting over four years starting in April 2023. On January 19, 2024, Mr. Freudenthaler resigned as Fr8Tech’s Chief Financial\nOfficer, after which he continued serving as Secretary and began serving as a member of the Board of Directors. Mr. Freudenthaler’s\nEmployment Agreement terminated upon his resignation. In connection with his appointment as director, Mr. Freudenthaler entered into\na Board Services Agreement with the Company. Pursuant to such Board Services Agreement, the Company paid Mr. Freudenthaler a quarterly\ncompensation of $5,000 for his services as a Board Director. Mr. Freudenthaler resigned from his director position on the board in February\n2025. He continues to serve as Secretary for which he is paid $1,000 per quarter.\n\n \n\nEach\nexecutive officer has agreed to hold, both during and after the termination or expiry of his or her employment agreement, in strict confidence\nand not to use, except as required in the performance of his or her duties in connection with the employment or pursuant to applicable\nlaw, any of our confidential information or trade secrets, any confidential information or trade secrets of our clients or prospective\nclients, or the confidential or proprietary information of any third party received by us and for which we have confidential obligations.\nThe executive officers have also agreed to disclose in confidence to us all inventions, designs and trade secrets which they conceive,\ndevelop or reduce to practice during the executive officer’s employment with us and to assign all right, title and interest in\nthem to us, and assist us in obtaining and enforcing patents, copyrights and other legal rights for these inventions, designs and trade\nsecrets.\n\n** **\n\n****\n\n53\n\n \n\n** **\n\n**Outstanding\nEquity Awards at Fiscal Year-End**\n\n \n\nThe\nexecutive officers named above had the following unexercised options, stock that has not vested, or equity incentive plan awards outstanding\nas of December 31, 2025.\n\n \n\n  \nOption Awards \nStock Awards\n\nName \nNumber of\nsecurities\nunderlying\nunexercised options\n(#) exercisable \nNumber of\nsecurities\nunderlying\nunexercised\noptions\n(#)\nunexercisable  \nEquity\nincentive\nplan\nawards:\nNumber of\nsecurities\nunderlying\nunexercised\nunearned\noptions\n(#)  \nOption\nexercise\nprice\n($)  \nOption\nexpiration date \nNumber\nof shares\nor units\nof stock\nthat have\nnot\nvested\n(#) \nMarket\nvalue\nof\nshares\nof units\nof\nstock\nthat\nhave\nnot\nvested\n($) \nEquity\nincentive\nplan\nawards:\nNumber\nof\nunearned\nshares,\nunits or\nother\nrights\nthat have\nnot\nvested\n(#)  \nEquity\nincentive\nplan\nawards:\nMarket\nor\npayout\nvalue of\nunearned\nshares,\nunits or\nother\nrights\nthat have\nnot\nvested\n($) \n\nJavier Selgas \n36 \n 10  \n 46  \n $9,100 -$130,070  \n9/30/2030 – 4/18/2033 \n- \n- \n -  \n - \n\nPaul Freudenthaler \n36 \n 10  \n 46  \n $9,100 -$130,070  \n9/30/2030 – 4/18/2033 \n- \n- \n -  \n - \n\nLuisa Irene Lopez Reyes \n12 \n 4  \n 16  \n $9,100 -$130,070  \n7/1/2031 – 4/18/2033 \n- \n- \n -  \n - \n\n* *\n\n**Director\nCompensation**\n\n \n\nEach\nof the Company’s independent directors have entered into an Independent Director Agreement with the Company (each, an “Independent\nDirector Agreement”) in February 2025. Under each Independent Director Agreement, each independent director will receive an annual\ncash fee. We will pay the annual cash compensation fee to each independent director in four equal installments in arrears to the preceding\nquarter for service, no later than the seventh business day of each calendar quarter commencing in the first quarter following the date\nof their Agreement. The cash fee to be paid to each independent director will be $24,000 per year in cash, plus $24,000 per year in cash\nfor as long as the director serves as chairman of the audit committee, or $12,000 per year in cash for as long as the director serves\nas a chairman of the board. The Company will reimburse each independent director for pre-approved reasonable business-related expenses\nincurred in good faith in connection with the performance of the director’s duties for us. As also required under each Independent\nDirector Agreement, we have separately entered into a standard indemnification agreement with each of our directors.\n\n \n\nThe\ndirectors of the Company were compensated for services as directors during the fiscal year ended December 31, 2025 as follows:\n\n \n\nName \n\n**Fees Earned or Paid in Cash**\n\n**($)**\n  \n\n**Stock Awards**\n\n**($)**\n  \n\n**Option Awards**\n\n**($)**\n  \n\n**Non-Equity Incentive Plan Compensation**\n\n**($)**\n  \n\n**Nonqualified Deferred Compensation Earnings**\n\n**($)**\n  \n\n**All Other Compensation**\n\n**($)**\n  \n\n**Total**\n\n**($)**\n \n\nNicholas H. Adler \n 30,800  \n -  \n -  \n -  \n -  \n -  \n 30,800 \n\nMarc Urbach \n 41,067  \n -  \n -  \n -  \n -  \n -  \n 41,067 \n\nLeilei Nie \n 20,667  \n -  \n -  \n -  \n -  \n -  \n 20,667 \n\nAndres Gonzalez \n 20,667  \n -  \n -  \n -  \n -  \n -  \n 20,667 \n\n \n\n**Indemnification\nAgreements and Directors and Officers Liability Insurance**\n\n \n\nWe\nhave entered into a standard indemnification agreement with each of our executive officers and directors. We have also obtained standard\npolicies of insurance under which coverage is provided (a) to our directors and executive officers against loss rising from claims made\nby reason of breach of duty or other wrongful act, and (b) to us with respect to payments which we may make to such executive officers\nand directors pursuant to the indemnification agreements referred to above, the Articles of Incorporation and the Bylaws, or otherwise\nas a matter of law.\n\n \n\n54\n\n \n\n \n\n6.C.\nBoard Practices\n\n \n\n**Director\nTerm of Office**\n\n \n\nOur\nboard of directors (the “Board of Directors” or the “Board”) currently consists of five directors, who were elected\nto serve until they resign, are removed or otherwise leave offices. Eligible directors may be elected by shareholders at any general\nmeeting by a majority of votes cast assuming properly proposed or nominated in accordance with our memorandum and articles of association.\n\n \n\nAny\nmember or the Board may propose any person for election as a director. Where any person, other than a director retiring at the meeting\nor a person proposed for re-election or election as a director by the Board, is to be proposed for election as a director, notice must\nbe given to the Company of the intention to propose him and of his willingness to serve as a director. Such notice must be given not\nlater than 10 days following the earlier of the date on which notice of the general meeting was posted to the shareholders or the date\non which public disclosure of the date of the next general meeting was made. Where the number of persons validly proposed for re-election\nor election as a director is greater than the number of directors to be elected, the persons receiving the most votes (up to the number\nof directors to be elected) shall be elected as directors, and an absolute majority of the votes cast shall not be a prerequisite to\nthe election of such directors.\n\n \n\nEach\ndirector so elected holds office for the term, if any, as may be specified in the resolution appointing him or until his earlier death,\ndisqualification, resignation or removal. The directors may appoint one or more directors to fill a vacancy on the Board. We do not have\nany contracts with our directors providing for benefits upon termination of employment.\n\n \n\nOur\nexecutive officers are appointed by our Board of Directors. The executive officers shall hold office until their successors are duly\nelected and qualified, but any officer elected or appointed by the directors may be removed at any time, with or without cause, by a\nmajority vote of the directors.\n\n \n\nThere\nare no service contracts between the Company and any member of our board of directors providing for the accrual of benefits, compensation\nor otherwise, upon termination of their employment or service.\n\n \n\n**Board\nCommittees**\n\n \n\nOur\nboard established the Company’s Audit Committee of the Board of Directors (the “Audit Committee”), Compensation Committee\nof the Board of Directors (the “Compensation Committee”), and Nominating Committee of the Board of Directors (the “Nominating\nCommittee”), each with its own charter approved by the board. Each committee’s charter is also available on our website at:\nhttps://www.fr8technologies.com/governance/\n\n \n\n*Audit\nCommittee*\n\n \n\nThe\npurpose of the Audit Committee is to assist the board of directors in monitoring the integrity of the annual, quarterly and other financial\nstatements of the Company, independent auditor’s qualifications and independence, the performance of the Company’s independent\nauditor, and the compliance by the Company with legal and regulatory requirements. The Audit Committee also reviews and approves all\nrelated-party transactions.\n\n \n\nThe Audit Committee members are Marc Urbach, Nicholas\nH. Adler and Leilei Nie. Our board of directors has determined that each of the Audit Committee members satisfies the “independence”\nrequirements of Rule 10A-3 under the Exchange Act and the requirements of the Audit Committee members under the Nasdaq Listing Rules.\nMr. Urbach serves as the Audit Committee Chairman. Our board has determined that Mr. Urbach qualifies as an “audit committee financial\nexpert” as defined by Item 407(d)(5) of Regulation S-K promulgated by the SEC. The Audit Committee Charter is available on our website\nat https://www.fusion-fuel.eu/.\n\n \n\n*Compensation\nCommittee*\n\n \n\nThe\npurposes of the Compensation Committee are, among other things, making recommendations to the board of directors relating to the compensation\nof the Company’s chief executive officer, if any, and other executive officers of the Company, and administering or delegating\nthe power to administer the Company’s incentive compensation and equity-based compensation plans.\n\n \n\nThe\nCompensation Committee members are Nicholas H. Adler, Andres Gonzalez and Marc Urbach. Our board of directors has determined that each\nof the Compensation Committee members satisfies the “independence” and other requirements of Compensation Committee members\nunder the Nasdaq Listing Rules. Mr. Adler serves as the Compensation Committee Chairman.\n\n \n\n55\n\n \n\n \n\n*Nominating\nCommittee*\n\n \n\nThe\npurpose of the Nominating Committee is, among other things, to discharge the responsibilities of the board of directors relating to the\nappropriate size, functioning, and needs of the board of directors including, but not limited to, recruitment and retention of high quality\nboard members and committee composition and structure.\n\n \n\nThe\nNominating Committee members are Nicholas H. Adler, Andres Gonzalez, and Leilei Nie. Our board of directors has determined that each\nof the Nominating Committee members satisfies the “independence” and other requirements of Nominating Committee members under\nthe Nasdaq Listing Rules. Mr. Gonzalez serves as the Nominating Committee Chairman.\n\n \n\n6.D.\nEmployees\n\n \n\n**Employees**\n\n \n\nAs\nof December 31, 2025, we had a total of 66 employees, 48 of them based in Mexico, with the remaining in the U.S. and other virtual locations\nand 18 contract-based employees. None of our employees are represented by a labor union or covered by a collective bargaining agreement.\nFr8Tech considers its relationship with its employees to be good. Fr8Tech has three principal executives, including its CEO, CFO and\nCOO. Fr8Tech has the following number of employees and contractors, including its executives, in each of its departments as follows:\n\n \n\nEmployees by Department \nDecember 31, 2025  \nDecember 31, 2024  \nDecember 31, 2023 \n\nFinance, HR and Administration \n 11  \n 14  \n 18 \n\nCarrier Sales & Support \n 4  \n 19  \n 18 \n\nShipper Sales & Marketing \n 7  \n 12  \n 11 \n\nIT and Product Development \n 21  \n 26  \n 6 \n\nOperations and Support \n 23  \n 29  \n 25 \n\nTotal \n 66  \n 100  \n 78 \n\n \n\nThe increase in the number of employees from the year ended December 31,\n2023, to December 31, 2024, was primarily to invest in software development and operations and support for expanded Fr8Fleet dedicated\nservice, while reducing administrative costs. Headcount reductions over the year ended December 31, 2025, were primarily to reduce costs\nand focus the Company’s strategy on development and sales of software and AI-enabled technologies.\n\n \n\nRelationships\nwith employees are stable and favorable. Fr8App’s Chief Executive Officer, Javier Selgas, initially joined Fr8Tech as Chief Technology\nOfficer and has over a dozen years of experience in developing technology and digital marketing. Fr8Tech’s Chief Financial Officer,\nDonald Quinby, joined Fr8Tech in January of 2024 and has more than 20 years of experience in finance and has held leading finance roles\nwith several public companies. Fr8Tech’s Secretary, Paul Freudenthaler, has over 30 years of financial experience and has been\nChief Financial Officer for several leading companies in both the U.S. and Mexico. Previously, Paul Freudenthaler served as Fr8Tech’s\nChief Financial Officer from September 2020 until his resignation on January 19, 2024, after which he continued his position as Secretary\nand was appointed as a board director. Fr8Tech’s Chief Operating Officer, Luisa Lopez, has over 25 years of experience within the\nlogistics and supply chain industry across North America.\n\n \n\nNone\nof our employees are represented by labor unions.\n\n \n\n6.E.\nShare Ownership\n\n \n\nSee"}