Apex Treasury Corp 8-K

What Happened

• Apex Treasury Corp (APXT) announced that director David Mikulecky resigned effective March 9, 2026. On March 13, 2026 the Board appointed Stephen CuUnjieng, age 66, as a Class I director (term expiring at the company’s first annual meeting). Mr. CuUnjieng was named to the Audit and Compensation Committees and has been determined to be an independent director under Nasdaq rules. The company entered into an indemnity agreement, a letter agreement and a joinder to the registration rights agreement with Mr. CuUnjieng in connection with his appointment.

Key Details

• Resignation: David Mikulecky notified the company of his resignation effective March 9, 2026; he reported no disagreement with the company on operational matters.
• Appointment: Stephen CuUnjieng appointed March 13, 2026 as Class I director; committee assignments — Audit and Compensation.
• Compensation and agreements: Mr. CuUnjieng will receive 30,000 Class B ordinary shares from the Sponsor and has executed an indemnity agreement, a director letter agreement, and a joinder to the company’s October 27, 2025 registration rights agreement (copies filed as Exhibits 10.1–10.3).
• Background: Mr. CuUnjieng has extensive Asia-focused finance and board experience (e.g., Lead Independent Director at First Philippine Holdings since Sept 2025; Chair of Investment Committee at Maharlika Investment Fund since July 2025; former Chairman & CEO of Evercore Asia, 2011–2020).

Why It Matters

• Governance: The Board replacement maintains an independent director and places Mr. CuUnjieng on the Audit and Compensation Committees, which oversee financial reporting and executive pay — areas material to investors.
• Experience: His Asia and investment banking background may shape board oversight and strategic perspectives, particularly for dealings or opportunities tied to that region.
• Investor impact: The filing reflects routine governance changes rather than operational or financial developments; the share grant and registration rights are part of standard director onboarding following the company’s recent IPO-related arrangements.