Powerus Corp (PUSA): CAO Leah Lunger appointed

Events in this filing

Item 5.02 as filed

Item 5.02 Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
On
October 17, 2026, Powerus Corporation (the “Company”) entered into an employment agreement with Leah Lunger to be its Chief
Accounting Officer, with an expected start date of November 16, 2026.
Ms.
Lunger, 36, brings extensive finance, accounting and public company reporting experience. She joins the Company from Lunger Consulting
LLC, where she has provided public company financial consulting services since April 2026. Prior to this, Ms. Lunger spent five years
with Red Cat Holdings, Inc. (“Red Cat”), a drone and robotic systems company, including as its Chief Financial Officer from
2024 to 2025, its Vice President of Finance from 2023 to 2024 and its Corporate Controller from 2020 to 2023. From 2017 to 2020, Ms.
Lunger served as the Controller of Fat Shark Holdings, a provider of equipment to the drone industry, which was subsequently acquired
by Red Cat. Ms. Lunger is a Certified Public Accountant and has a B.S. degree in Public Accountancy and B.A. degree in French from Calvin
College.
In
connection with her employment, the Company and Ms. Lunger have entered into an employment agreement, to be effective November 16, 2026,
with an initial base salary of $235,000. Ms. Lunger will be eligible for target annual incentive award opportunities pursuant to the
Company’s bonus program or cash incentive plan and will participate in employee benefit plans in effect from time to time. As part
of her hiring, Ms. Lunger will receive a grant of 150,000 non-qualified stock options and a grant of 50,000 restricted stock units, in
each case vesting in quarterly increments over the four-year period beginning three months after her start date. If her employment is
terminated without cause, Ms. Lunger will be entitled to severance equal to three months of base salary.
The
description of the employment agreement with Ms. Lunger does not purport to be complete and is qualified in its entirety by reference
to the full text of the agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Ms.
Lunger has no family relationships with any of the Company’s directors or executive officers, and she is not a party to, and does
not have any direct or indirect material interest in, any transaction requiring disclosure under Item 404(a) of Regulation S-K. There
are no arrangements or understandings between Ms. Lunger and any other persons pursuant to which she was selected as an executive officer.