JanOne Inc. (Nasdaq: JAN) is pleased to announce that it has appointed Mr. Vay Tham as its Chief Revenue Officer and President of ALT5 Sigma, Inc., its wholly-owned subsidiary. Mr. Tham brings extensive experience in capital markets, particularly in technology sectors, spanning over 25 years. His career includes roles in research, investment banking, and finance, notably and most recently as Managing Director and Head of Technology Investment Banking at PI Financial Corp. (Ventum Financial).
Vay Tham's expertise will be pivotal in leading ALT5 Sigma's go-to-market strategy to educate customers on how to enhance their digital financial ecosystem. He has a background in Electrical Engineering, graduating from the University of Waterloo in 1999, and has previously founded, grown, and successfully sold his own fund, managing over $300 million in assets at the time.
In this role, Vay will lead ALT5 Sigma's go-to-market strategy, with a focus on expanding the market share of ALT5's leading digital financial ecosystem. Vay Tham, who most recently served as PI Financial Corp.'s (Ventum Financial), Managing Director, Head of Technology Investment Banking, has over 25 years' experience in capital markets. Vay's career has spanned research, investment banking, and finance roles. In addition, Mr. Tham previously founded, grew, and sold his own fund, which had over $300 million of assets under management. Vay has predominantly focused on technology companies throughout his career.
"Bringing on Vay Tham, a veteran of the financial markets and a technologist at heart, will help drive revenue growth as he focuses on aiding customers in digitizing their legacy financial ecosystems," said Tony Issac, CEO of JanOne. He added, "As our new Chief Revenue Officer, the first in our Company's history, Vay's expertise will be invaluable as we educate our end-users on the breadth of the ALT5 portfolio. Together, with the ALT5 team, we are confident Vay will help us reach new heights."
Mr. Tham commented, "I am delighted to join JanOne and ALT5. In my 25-year career, I have advised and worked with dozens of corporate entities that would benefit from ALT5's product suite. I look forward to forging new partnerships and building on an already impressive customer base on the ALT5 platform and introducing ALT5 to new opportunities."
In addition, the Company today announced that, as an inducement grant, on June 25, 2024, our Board of Directors and our Compensation Committee granted Mr. Tham 400,000 restricted stock units (the "RSUs"). The RSUs will vest over two years, subject to certain "Change of Control" accelerators as defined in JanOne's 2023 Plan. Although granted as inducement awards outside of JanOne's 2023 Plan, the RSUs are subject to the terms of that Plan. The RSUs are intended to be inducement awards under Rule 5635(c)(4) of the Nasdaq Stock Market Listing Rules and were granted outside of JanOne's 2023 Plan.
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