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Form 8-K

sec.gov

8-K — ZeroStack Corp.

Accession: 0001062993-26-002358

Filed: 2026-05-06

Period: 2026-05-05

CIK: 0001790169

SIC: 5122 (WHOLESALE-DRUGS PROPRIETARIES & DRUGGISTS' SUNDRIES)

Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

Item: Financial Statements and Exhibits

Documents

8-K — form8k.htm (Primary)

EX-10.1 — EXHIBIT 10.1 (exhibit10-1.htm)

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ZeroStack Corp.

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2026-05-05

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

May 5, 2026

ZEROSTACK CORP.

(Exact name of registrant as specified in its charter)

Ontario

001-40397

Not Applicable

(State or other jurisdiction

(Commission

(IRS Employer

of incorporation)

File Number)

Identification No.)

40 King Street West, Suite 2400

Toronto, Ontario, Canada

M5H 3Y2

(Address of principal executive offices) (ZIP Code)

Registrant’s telephone number, including area code: (954) 842-4989

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbols

Name of each exchange on which registered

Common Shares, no par value

ZSTK

NASDAQ Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).

Emerging growth company ☑

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On May 5, 2026, the independent members of the board of directors (the "Board") of ZeroStack Corp. (the "Company") granted (i) 500,000 stock options to Daniel Reis-Faria, Chief Executive Officer of the Company (the "Reis-Faria Options"), (ii) 250,000 stock options to Mr. Dany Vaiman, Chief Financial Officer of the Company (the "Vaiman Options") and (iii) 500,000 stock options to Mr. Michael Heinrich, the Executive Chairman of the Board (the "Heinrich Options" and together with the Reis-Faria Options and Vaiman Options, the "Stock Options").

The Stock Options are (a) unexercisable until seven calendar days after the closing of the transactions contemplated by the Share Exchange Agreement by and among the Company, Texas Blocker Corp. and stockholders of Texas Blocker Corp. named on Schedule A thereto and (b) subject to forfeiture, unless the Company's shareholders approve the grant of Stock Options at the Company's annual and special meeting of shareholders to be held on or about July 13, 2026.

The Stock Options will be exercisable at $5.10 per share and have a term of 10 years from issuance. The Stock Options will vest based on the volume weighted average price of the Company's Common Shares as follows:

Percentage of Options Vested

At or above the following VWAP on any trading day

20%

$7.65

20%

$10.20

20%

$12.75

20%

$15.30

20%

$17.85

The Form of Stock Option Agreement for the Stock Options is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The description of the Stock Options in this Current Report on Form 8-K is only a summary and is qualified in its entirety by reference to the actual terms of the Form of Stock Option Agreement.

Item 9.01. Exhibits.

Exhibit

Description

10.1

Form of Stock Option Agreement, dated May 5, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ZEROSTACK CORP.

(Registrant)

Dated: May 6, 2026

By: /s/ Dany Vaiman

Dany Vaiman

Chief Financial Officer

EX-10.1 — EXHIBIT 10.1

EX-10.1

Filename: exhibit10-1.htm · Sequence: 2

ZeroStack Corp.: Exhibit 10.1 - Filed by newsfilecorp.com

ZEROSTACK CORP.

Stock Option Award Agreement

A. ZeroStack Corp. (f/k/a Flora Growth Corp.) (the "Company") desires to award options to [●] ("Optionee") pursuant to this Stock Option Award Agreement (this "Agreement") in exchange for Optionee's valuable services to the Company.

B. The options awarded pursuant to this Agreement are not awarded under the ZeroStack Corp. 2022 Incentive Compensation Plan, as amended (the "Plan"), and as such, any options awarded under this Agreement do not reduce the number of Shares available for issuance under Section 4(a) of the Plan.

C. Notwithstanding the foregoing, this Agreement and the options issued hereunder are subject to the terms and conditions of the Plan, unless otherwise provided in this Agreement.  All capitalized terms in this Agreement shall have the meaning assigned to them in the Plan, except where otherwise defined.

NOW, THEREFORE, it is hereby agreed as follows:

1. Grant of Option.

(a) The Company hereby grants to Optionee, as of the Grant Date, an option to purchase no more than the number of Option Shares specified below.  The Option Shares shall be purchasable from time to time during the Option Term and at the Exercise Price specified below.

Grant Date: May 5, 2026

Exercise Price: $[●] per share

Number of Option Shares: [●]

Expiration Date: 10 years from Grant Date

Type of Option: Non-Qualifying Stock Option

Vesting Schedule:

The Options will vest based on the Company's volume weighted average price ("VWAP") of the Company's Common Shares as follows:

Percentage of Options Vested

At or Above the Following VWAP on Any Trading Day

20%

$[●]

20%

$[●]

20%

$[●]

20%

$[●]

20%

$[●]

1

(b) In addition to the foregoing, this option shall (i) remain unexercisable until seven calendar days after the closing of the transactions contemplated by the Share Exchange Agreement by and among ZeroStack Corp., Texas Blocker Corp. and stockholders of Texas Blocker Corp. named on Schedule A thereto and (ii) be subject to forfeiture, unless the Company's shareholders approve the grant of this option at the Company's annual and special meeting of shareholders to be held on or about July 13, 2026.

2. Option Term.  This option shall expire on the Expiration Date, unless sooner terminated in accordance with the Plan or this Agreement (the "Option Term").

3. Limited Transferability.

(a) Except as otherwise provided in this Section 3, this option shall be neither transferable nor assignable by Optionee other than by will or the laws of descent and distribution following Optionee's death and may be exercised, during Optionee's lifetime, only by Optionee.

(b) This option may be assigned in whole or in part during Optionee's lifetime to the extent permitted under Section 9(b) of the Plan.

4. Dates of Exercise.  This option shall become exercisable for the Option Shares as specified in Section 1.  If the option is exercisable in installments, then as the option becomes exercisable for such installments, those installments shall accumulate, and the option shall remain exercisable for the accumulated installments until the Expiration Date or sooner termination of the option pursuant to the Plan or this Agreement.

5. Post-Termination Exercise Period

(a) Should Optionee's Continuous Service cease for any reason other than termination for Cause, then this option shall remain exercisable until the earlier of (i) the twelve-month anniversary of the date Optionee's Continuous Service ceased or (ii) the Expiration Date.

(b) Should Optionee be terminated for Cause, as determined by the Committee, then this option shall terminate immediately with respect to all Option Shares.

(c) If the Company terminates the Optionee's Continuous Service for any reason other than for Cause or if Optionee's Continuous Service terminates on account of death or Disability, any unvested Options shall vest immediately.

(d) If Optionee terminates his Continuous Service with the Company other than on account of death or Disability, no additional Option Shares shall vest, except as otherwise specifically provided by the Committee in its sole discretion pursuant to a written agreement with Optionee.  Upon the expiration of such limited exercise period or (if earlier) upon the Expiration Date, this option shall terminate and cease to be outstanding for any Option Shares for which the option has not been exercised.

6. Other Transactions.  Should any change be made to the Shares by reason of any stock split, reverse stock split, stock dividend, recapitalization or other transaction described in Section 9(c) of the Plan, appropriate adjustments shall be made in accordance with Section 9(c) to (a) the number and/or class of securities subject to this option and (b) the Exercise Price in order to reflect such change and thereby preclude a dilution or enlargement of benefits hereunder.

2

7. Shareholder Rights.  The holder of this option shall not have any shareholder rights with respect to the Option Shares until such person shall have exercised the option, paid the Exercise Price and become the holder of record of the purchased Option Shares.

8. Manner of Exercising Option.

(a) In order to exercise this option with respect to all or any part of the Option Shares for which this option is at the time exercisable, Optionee (or any other person or persons permitted to exercise the option) must take the following actions:

(i) Pay the aggregate Exercise Price for the purchased shares in one or more of the following forms:

(A) cash or check made payable to the Company;

(B) in Option Shares withheld by the Company equivalent in value to the Exercise Price (a "cashless net exercise"), calculated using the Fair Market Value of the Option Shares on the date of exercise.

(ii) Furnish to the Company appropriate documentation that the person or persons exercising the option (if other than Optionee) have the right to exercise this option;

(iii) Execute and deliver to the Company such written representations as may be requested by the Company in order for it to comply with the requirements of applicable securities laws; and

(iv) The Company and any Related Entity are authorized to withhold from any payment relating to this option, including from a distribution of Shares, or any payroll or other payment to the Optionee, amounts of withholding and other taxes due or potentially payable in connection with any transaction involving this option, and to take such other action as the Committee may deem advisable to enable the Company or any Related Entity and the Optionee to satisfy obligations for the payment of withholding taxes and other tax obligations relating to this option.  This authority shall include authority to withhold or receive Shares or other property and to make cash payments in respect thereof in satisfaction of the Optionee's tax obligations, either on a mandatory or elective basis in the discretion of the Committee.  The amount of withholding tax paid with respect to this option by the withholding of Shares otherwise deliverable pursuant to this option or by delivering Shares already owned shall not exceed the maximum statutory withholding required with respect to this option.

(b) In no event may this option be exercised for any fractional shares.

3

9. Clawback of Benefits.  For avoidance of doubt, this option is subject to the clawback provisions of Section 9(g) of the Plan.

10. Compliance with Laws and Regulations.

(a) The exercise of this option and the issuance of the Option Shares upon such exercise shall be subject to compliance by the Company and Optionee with all applicable requirements of law relating thereto and with all applicable regulations of any applicable stock exchange or quotation system on which the Shares may be traded or listed for trading at the time of such exercise and issuance.

(b) The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company to be necessary to the lawful issuance and sale of any Shares pursuant to this option shall relieve the Company of any liability with respect to the non-issuance or sale of the Shares as to which such approval shall not have been obtained.

11. Successors and Assigns.  Except to the extent otherwise provided in this Agreement, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns and Optionee, Optionee's permitted assigns, the legal representatives, heirs and legatees of Optionee's estate, whether or not any such person shall have become a party to this Agreement or has agreed in writing to join herein and be bound by the terms hereof.

12. Notices.  Any notice required to be given or delivered to the Company under the terms of this Agreement shall be addressed to the Company at its principal corporate offices.  Any notice required to be given or delivered to Optionee shall be addressed to Optionee at the address indicated below Optionee's signature line on this Agreement or at such other address as Optionee may designate by ten days advance written notice to the Company.  Any notice required to be given under this Agreement shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed telex or facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt.

13. Entire Agreement.  The Plan is hereby incorporated by reference.  This Agreement (and any addendum hereto) and the Plan constitute the entire agreement between the parties hereto with regard to the subject matter hereof.  All decisions of the Committee with respect to any question or issue arising under this Agreement or the terms and conditions of the Plan incorporated by reference into this Agreement shall be binding on all persons having an interest in this option.

14. Governing Law.  The interpretation, performance and enforcement of this Agreement shall be governed by the laws of the Province of Ontario without giving effect to that State's choice-of-law or conflict-of-law rules.

15. Consultation With Professional Tax and Investment Advisors.  Optionee acknowledges that the grant, issuance, exercise, vesting or any payment with respect to any options granted or shares issued under the Plan, and the sale or other taxable disposition of the shares acquired pursuant to the Plan, may have tax consequences pursuant to the Code or under local, state or international tax laws.  Optionee further acknowledges that he or she is relying solely and exclusively on his or her own professional tax and investment advisors with respect to any and all such matters (and is not relying, in any manner, on the Company or any of its employees, agents or representatives).  Finally, Optionee understands and agrees that any and all tax consequences resulting from the options granted or shares issued under the Plan and their grant, issuance, exercise, vesting or any payment with respect thereto, and the sale or other taxable disposition of the shares acquired pursuant to the Plan, is solely and exclusively the responsibility of Optionee without any expectation or understanding that the Company or any of its employees, agents or representatives will pay or reimburse Optionee for such taxes or other items.

4

[Remainder of Page Left Blank Intentionally]

5

Dated: May 5, 2026

ZEROSTACK CORP.:

By:

Edward Woo

Its:

Chair, Compensation Committee

OPTIONEE:

Signature:

Printed Name:

Address:

[Signature Page to ZeroStack Corp. Stock Option Award Agreement]

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