Reliance: a six-month DAT adviser paid in shares, followed by contract-term expiry and a zero digital-asset balance.
Reliance Global Group, now trading under the EZRA ticker, supplies a useful short-duration strategic-adviser control. The filed November 2025 agreement appointed Convergence Strategy Partners to chair the Crypto Advisory Board and advise on the DAT program for six months. Compensation was almost entirely equity. By June 30, 2026, the issuer reported no digital assets on its balance sheet.
Agreement snapshot
| Field | Publicly disclosed term |
|---|---|
| Issuer | Reliance Global Group, Inc. — ticker changed from RELI to EZRA in January 2026 |
| Adviser | Convergence Strategy Partners, LLC; its president Blake Janover was to serve as Chairperson of the Crypto Advisory Board |
| Role | Strategic advisory services for the DAT program, capital-markets strategy and management of the advisory-board process; the agreement expressly limits the adviser from executing trades or handling company assets |
| Effective date | November 18, 2025 |
| Term | Six months; filed agreement says it terminates automatically upon expiration of the term unless ended earlier |
| Compensation | 450,000 common shares in aggregate: 315,000 initial shares and 135,000 subsequent shares scheduled for the final day of the term, subject to specified forfeiture mechanics |
| Ordinary termination | Either party may terminate for any reason or no reason on 30 days' written notice |
| Currentness control | The six-month filed term reaches May 18, 2026. No amendment or extension was located in the reviewed SEC record through September 16, 2026. |
| Treasury status | The June 30, 2026 Form 10-Q reports no digital assets at period end and $118,176 of digital-asset sale proceeds during the first half of 2026 |
The adviser was not the discretionary asset manager
The agreement is explicit that Convergence Strategy Partners was a strategic adviser and Crypto Advisory Board chair, not a licensed investment adviser for the issuer's treasury assets. Its listed limitations prohibit executing trades or handling assets on the company's behalf. It also contains a specific restriction against Solana-related treasury activity.
The equity compensation has different vesting and survival behavior
The agreement states that 450,000 shares are the service compensation. Seventy percent, or 315,000 shares, were to be issued as soon as practicable after execution and were described as fully earned and irrevocably vested on execution for termination purposes. The remaining 135,000 shares were scheduled for the last day of the six-month term, with forfeiture applying in specified early-termination circumstances.
The contract also provides a fallback cash mechanism if required shareholder approval for compensation could not be obtained within six months, using fair market value determined from the effective-date closing price. That makes the compensation stack more than a simple “450,000 shares” headline: timing, forfeiture, approval and fallback mechanics all matter.
The filed term ended before the latest reported zero-asset balance
A six-month term from November 18, 2025 reaches May 18, 2026. The filed agreement says the contract terminates automatically upon expiration of its term. A review of later SEC filings through September 16, 2026 did not locate a filed extension or replacement Convergence advisory agreement.
The company's June 30, 2026 Form 10-Q then reports that it held no digital assets at period end and shows $118,176 of digital-asset sale proceeds in the first half. The same filing does not mention Convergence or the Crypto Advisory Board by name.
Why this case matters
Reliance is a compact control for three errors that appear repeatedly in provider research: treating all DAT advisers as asset managers, collapsing equity compensation into one number without vesting/forfeiture mechanics, and inferring provider status from the treasury balance rather than the actual contract term.
Primary public sources
November 21, 2025 Form 8-K — advisory agreement summary
Filed Advisory Agreement — scope, compensation, term and termination mechanics
June 30, 2026 Form 10-Q — zero digital-asset balance and sale proceeds
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Public-source factual commercial research only. No legal interpretation of enforceability, no fairness or arm's-length conclusion, no fiduciary, accounting or investment opinion, and no recommendation concerning any provider or agreement.