374Water Inc (NASDAQ:SCWO), a provider of organic waste destruction technology and services for industrial, municipal, and federal markets, announced that it has adopted a minimum equity ownership policy for its Board of Directors.
Under the new policy, each board member is required to purchase and maintain at least US$50,000 in 374Water shares.
This threshold includes any previously acquired shares, and directors must continuously hold the number of shares necessary to meet the minimum requirement regardless of changes in the company’s stock price.
“This new policy further aligns shareholder and director incentives and promotes long-term value creation for the company,” 374Water interim CEO Stephen Jones said in a statement.
“We believe 374Water is an exceptional company as we continue to commercialize our AirSCWO technology and focus on strategic partnerships and capital initiatives related to our Waste Destruction Services business model. Both the Board and management are committed to further unlocking this value for shareholders in the months and years ahead.”
Any future changes to the minimum ownership threshold will require approval from both the company and its board.