Signs CEO, COO employment agreements with revenue-doubling bonus targets

What did DUOS TECHNOLOGIES GROUP, INC. announce?

Duos disclosed employment agreements with CEO Doug Recker ($650,000 salary, 125% target bonus) and COO Dipan Patel ($375,000 salary, 80% target bonus), effective retroactively to their earlier appointment dates.

Key details

• Recker's three-year term runs through March 31, 2029, with $650,000 base salary, a 125% target bonus ($812,500) and a maximum of 200% of target; no proration for fiscal 2026.
• Bonus scorecard is 60% revenue on a 'revenue-doubling scale' and 40% EBITDA margin, with stated targets of $54M revenue/10% margin (FY26), $108M/20% (FY27) and $216M/30% (FY28).
• Recker holds 1,280,000 restricted shares (400,000 existing plus 880,000 new tranches); the term sheet cites an indicative $8.30 VWAP, about $10.6 million for the full award, with no stock-price hurdle.
• Patel's three-year term runs through June 14, 2029, with a 200,000-share restricted stock grant vesting in a three-year cliff on June 30, 2029.

Why it matters

This 8-K reports a change in the executive team at DUOS TECHNOLOGIES GROUP, INC.. The likely share-price reaction reads as neutral.