Tessera Defense and Homeland Security Inc.

Tessera Defense and Homeland Security Inc. announced an employment agreement with Chief Executive Officer Michael Oster that grants him options to purchase up to 1,000,000 shares at $1.15 per share, 1,000,000 restricted stock units vesting over three years, and 400,000 fully vested shares in recognition of his service since March 2026. A portion of the equity is performance-based: for FY 2027 Oster receives 200,000 shares if EBITDA per share exceeds $0.05, plus an additional 100,000 shares for each full cent above that level, up to a maximum of 500,000 shares, with the same structure applying for FY 2028 above a $0.10 threshold. All awards, including the fully vested shares, are subject to corporate approvals, including stockholder approval of an increase in shares available under the company's equity incentive plan and NYSE American approval of the listing of the underlying shares. Tessera also said it has raised more than $6 million in net proceeds through its at-the-market offering program at an average net price of approximately $1.15 per share, as adjusted for its one-for-ten reverse stock split, and that an existing financing source recently agreed to increase available resources by $5 million through a line of credit. The equity awards are conditioned on stockholder approval of the amendment to the 2026 Equity Incentive Plan at a Special Meeting of Stockholders to be held on October 20, 2026.