Charles & Colvard board approves $406,189 reimbursement for activist proxy fight expenses

Reuters03-04

Charles & Colvard board approves $406,189 reimbursement for activist proxy fight expenses

Charles & Colvard Ltd. said disinterested board members on Feb. 19, 2026 approved reimbursing Riverstyx Fund, LP and director Duc Pham $406,188.72 for reasonable and necessary expenses tied to a previously disclosed proxy solicitation related to the company’s 2025 annual shareholder meeting. The filing noted Riverstyx is affiliated with director Benjamin Franklin IV, who recused himself along with other interested directors, and said payment was approved on a deferred basis until the company is in a stronger financial position.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Charles & Colvard Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-023052), on March 04, 2026, and is solely responsible for the information contained therein.

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The filing noted Riverstyx is affiliated with director Benjamin Franklin IV, who recused himself along with other interested directors, and said payment was approved on a deferred basis until the company is in a stronger financial position.\n      \n\n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Charles & Colvard Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. 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