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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): June 30, 2025
EXP WORLD HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware |
001-38493 |
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98-0681092 |
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(State or other jurisdiction |
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(Commission |
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(IRS Employer |
of incorporation) |
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File Number) |
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Identification No.) |
2219 Rimland Drive, Suite 301, Bellingham, WA |
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98226 |
(Address of principal executive offices) |
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(Zip Code) |
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(360) 685-4206 | ||
(Registrant’s telephone number, including area code) | ||
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 |
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Trading Symbol(s) |
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Name of each exchange on which registered |
Common Stock, $0.00001 par value per share |
EXPI |
The Nasdaq Stock 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 June 30, 2025, eXp World Holdings, Inc. (the “Company”) announced that Jesse Hill has been appointed as the Company’s permanent Chief Financial Officer (and, in such capacity, the “principal financial officer” and “principal accounting officer” of the Company), effective immediately. The information specified in Item 5.02(c)(2) of Form 8-K with respect to Mr. Hill is set forth in the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on March 17, 2025, and is incorporated herein.
Mr. Hill does not have any familial relationships with any executive officer or director of the Company. Mr. Hill is not a party to any transaction required to be disclosed under Item 404(a) of Regulation S-K, and there is no arrangement or understanding between Mr. Hill and any other person pursuant to which he was selected to serve as the Company’s Chief Financial Officer.
In connection with his appointment as the Company’s Chief Financial Officer, the Company’s Board of Directors, upon recommendation of the Board’s Compensation Committee, approved an updated compensation package for Mr. Hill as follows:
| ● | An annual base salary of $600,000, effective June 30, 2025; |
| ● | An equity grant under the Company’s 2024 Equity Incentive Plan (the “Plan”), consisting of: |
| o | Restricted stock units (“RSUs”) with a fair market value of $230,938, vesting in equal quarterly installments over a three-year period following the grant date and, upon vesting, settling in shares of the Company’s common stock on a one-for-one basis; and |
| o | An option to purchase shares of the Company’s common stock with a fair market value of $692,812, vesting in equal quarterly installments over a three-year period following the grant date and having an exercise price equal to the closing price of the Company’s common stock on the date of grant. |
The RSUs and options are expected to be granted on the first trading day following the expiration of the Company’s current trading blackout period and will be subject to the terms and conditions of the Plan and the Company’s standard grant agreements. Vesting of the RSUs and options are subject to Mr. Hill’s continued service through each applicable vest date.
Item 7.01Regulation FD Disclosure
On July 2, 2025, the Company issued a press release announcing Jesse Hill’s appointment as permanent Chief Financial Officer of the Company. A copy of Company’s press release is attached hereto as Exhibit 99.1.
The information in this Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing or other document by the Company under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing or document, except as expressly set forth by specific reference in such filing or document.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit No. |
Exhibit Description |
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99.1 |
Press release issued by eXp World Holdings, Inc. on July 2, 2025 |
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104 |
Inline XBRL for the cover page of this Current Report on Form 8-K |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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eXp World Holdings, Inc. |
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(Registrant) |
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Date: July 2 2025 |
/s/ James Bramble |
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James Bramble |
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Chief Legal Counsel |
Exhibit 99.1
eXp World Holdings Appoints Jesse Hill as CFO as Company Continues Next Phase of Growth
Veteran Finance Executive to Drive Long-Term Financial Strategy and Shareholder Value
BELLINGHAM, WA – July 2, 2025 – eXp World Holdings, Inc. (Nasdaq: EXPI), the holding company for eXp Realty®, FrameVR.io and SUCCESS® Enterprises today announced that Jesse Hill has been appointed Chief Financial Officer, effective immediately.
Hill has served as the Company’s Interim CFO and principal financial officer since April 2025. His permanent appointment follows a highly effective transitional period during which he demonstrated exceptional financial leadership, operational excellence, and strategic vision aligned with the company’s mission to be the most agent-centric real estate brokerage on the planet. Recognized as a 2025 Finance Leader by HousingWire, Hill brings extensive experience in financial management and has been instrumental in eXp’s international expansion efforts.
“Jesse Hill has done an outstanding job leading our finance organization through a period of focused investment and global growth,” said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. “Under his financial leadership, our International Realty segment has expanded into eight new markets, nearly quintupled revenue, and significantly improved operating margins. Jesse brings deep knowledge of our business model, a clear long-term financial vision, and a steadfast commitment to our agent-centric values. I’m excited to officially welcome him as our permanent CFO as we enter our next phase of strategic growth and value creation.”
During his time as Interim CFO and previously as VP of International Finance & Corporate FP&A, Hill led major initiatives that contributed to record growth in eXp’s international business.
“It’s an honor to step into this role at such a pivotal moment in eXp’s evolution,” said Hill. “I am incredibly proud of how we have scaled with discipline and purpose, always keeping our agents at the center. I look forward to advancing our focus on financial strength, global expansion, and long-term value creation for our agents, employees, and shareholders.”
About Jesse Hill
Hill joined eXp in 2019 and has held a series of strategic finance leadership roles. Prior to eXp, he held financial positions at The Walt Disney Company, Nissan Motor Corporation, and General Motors. In 2025, he was named a Finance Leader by HousingWire in recognition of his impact on the real estate and mortgage sectors.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) (the “Company”) is the holding company for eXp Realty® and SUCCESS® Enterprises. eXp Realty is the largest independent real estate brokerage in the world, with over 81,000 agents across 27 countries. As a cloud-based, agent-centric brokerage, eXp Realty provides real estate agents industry-leading commission splits, revenue share, equity ownership opportunities, and a global network that empowers agents to build thriving businesses.
For more information about eXp World Holdings, Inc., visit: expworldholdings.com.
SUCCESS® Enterprises, anchored by SUCCESS® magazine, has been a trusted name in personal and professional development since 1897. As part of the eXp ecosystem, it offers agents access to valuable resources to enhance their skills, grow their businesses, and achieve long-term success. For more information about SUCCESS, visit success.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company’s and its management’s current expectations but involve known and unknown risks and uncertainties that could impact actual results materially. These statements include, but are not limited to, impact of leadership changes on operational results, and the future profitability, expansion, and cash flows of the Company. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include the successful integration of new leadership, real estate market fluctuations, competitive pressures, and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Reports on Form 10-Q and Annual Report on Form 10-K. We do not undertake any obligation to update these statements except as required by law.
Media Relations Contact:
eXp World Holdings, Inc.
mediarelations@expworldholdings.com
Investor Relations Contact:
Denise Garcia, Managing Partner
Hayflower Partners
investors@expworldholdings.com