Twenty One Capital CEO Jack Mallers resigns; board appoints Raphael Zagury as successor

Filed July 21, 2026 · Period ending July 15, 2026 · ~1 min read

Key Changes

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  Jack Mallers resigned as CEO and director effective July 20, 2026, with no disagreements on operations or financial matters. He receives in cash payments and retains 1,522,407 vested stock options exercisable within 90 days.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
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  Board appointed Raphael Zagury as CEO effective July 20, 2026. Zagury founded Elektron Energy (Bitcoin mining) and previously held executive roles at Goldman Sachs, Merrill Lynch, and Deutsche Bank. Compensation: $600K base salary plus up to $700K annual performance bonus (50% cash, 50% stock).

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
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  Company abandoned previously announced Strike acquisition but continues evaluating Elektron Energy combination. New CEO Zagury is CEO of Elektron Enterprises LLC, which provides management services to Elektron Energy, creating a related-party transaction with undetermined dollar value.

  Item 8.01 — Other Events verify on EDGAR →