22nd Century Group (XXII) Cuts Board Compensation

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Go back to 22nd Century Group (XXII) Cuts Board Compensation

22nd Century Group Announces Reduction in Board Compensation

February 13, 2024 4:17 PM EST

Reduced Cost Structure Expected to Save more than $1Million Annually in 2024, Aligns Board with Corporate-Wide Lean Operating Commitment

Mocksville, North Carolina--(Newsfile Corp. - February 13, 2024) - 22nd Century Group, Inc. (NASDAQ: XXII) (the "Company" or "22nd Century"), a biotechnology company focused on utilizing advanced plant technologies to improve health and wellness, today announced a reduction in board compensation expenses expected to save more than $1 million in annual cost for 2024. In addition to the newly reduced cash compensation structure going forward, the board has also waived any cash compensation due to non-employee directors for... More