Virtuix Holdings Inc. granted Chief Financial Officer Thomas McGinnis a supplemental award of 100,000 restricted stock units on September 29, 2026, a move the company characterized as a one-time recognition of exemplary service. The grant, approved by the Board of Directors under the Virtuix Holdings Inc. 2025 Omnibus Incentive Plan, carries a four-year vesting schedule and does not alter the target value of McGinnis's annual equity awards for 2026. The company filed an 8-K with the Securities and Exchange Commission on September 30, 2026, detailing the compensation arrangement alongside governance changes following its annual meeting.
The restricted stock units will vest with 25% released on the first anniversary of the grant date and the remaining 75% distributed in twelve equal quarterly installments. Continued service is required for vesting, with unvested units forfeited upon termination. If service ends for cause or if McGinnis breaches restrictive covenants, all units, whether vested or unvested, are forfeited. In the event of a change in control, the award will be treated according to the terms of the Equity Plan.
These disclosures accompanied the results of Virtuix's 2026 Annual Meeting of Stockholders, held on September 24, 2026. As of the July 29, 2026 record date, the company had 29,907,526 shares of Class A common stock and 4,000,000 shares of Class B common stock outstanding. Each Class B share carries 20 votes per matter. A total of 86,072,228 votes were represented at the meeting, accounting for 78.31% of the voting power of all shares entitled to vote.
Stockholders approved both proposals presented at the meeting. The first proposal elected three Class I directors to serve until the 2029 Annual Meeting: Ugo de Charette, John Cunningham, and Melissa Mohr. De Charette received 82,530,594 votes in favor and 420,906 withheld. Cunningham received 82,870,817 votes in favor and 80,683 withheld. Mohr received 82,870,753 votes in favor and 80,747 withheld. Each director faced 3,120,728 broker non-votes.
The second proposal sought advisory approval to retain EisnerAmper LLP to audit the company's financials for the fiscal year concluding on March 31, 2027. Stockholders voted in favor by a margin of 85,819,980 to 58,370 against, with 193,878 abstentions and no broker non-votes.
Following the annual meeting, the Board appointed Randolph C. Read as Lead Independent Director effective immediately. Read has served as an independent board member since August 2025 and currently chairs the Audit Committee while serving on the Acquisition Committee. The role is designed to provide additional independent leadership and facilitate communication among independent directors and between them and the Chairman and Chief Executive Officer. The Board also appointed Melissa Mohr to serve as a member of the Audit Committee effective immediately.