ESG Inc. 8-K filed 2026 · insiderdelta

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers.

On May 21, 2026, Joseph F. Rossetti notified ESG Inc. (the “Company”)
of his resignation as a member of the Company’s Board of Directors, effective immediately. Mr. Rossetti’s resignation also
included his resignation from all committees of the Board on which he served. Mr. Rossetti confirmed that his resignation was not the
result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices.

On May 21, 2026, the remaining members of the Board of Directors of the
Company appointed Richard Xie to the Company’s Board of Directors, effective immediately, to fill the vacancy created by Mr. Rossetti’s
resignation.

Mr. Xie, 55, has substantial experience in finance, fund management,
corporate finance and investment management in both China and the United States. Mr. Xie currently serves as Chief
Executive Officer of Kapital Max Inc. Mr. Xie previously served as an investment project manager at an investment management firm, where
he managed and oversaw investment projects and contributed to the development of the company’s asset portfolio. Mr. Xie also
served as an executive officer of KM International, where he directed multiple companies through initial public offerings and OTC
market upgrades and provided strategic guidance on corporate finance and investment management. Mr. Xie holds a Doctorate in
Accounting from Jinan University and credentials as a Certified Chinese Tax Accountant and CFA charterholder.

The Board of Directors determined that Mr. Xie qualifies as an independent
director under the applicable standards of the OTCQB Market. The Board of Directors also determined that Mr. Xie is financially sophisticated
and qualified to serve on the Audit Committee of the Board.

Effective upon his appointment to the Board, Mr. Xie was also appointed
as a member of the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee of the Board. Mr. Xie was
further appointed as Chair of the Audit Committee and Chair of the Compensation Committee.

There are no arrangements or understandings between Mr. Xie and any other
persons pursuant to which Mr. Xie was appointed as a director of the Company. There are no family relationships between Mr. Xie and any
director or executive officer of the Company. Since the beginning of the Company’s last fiscal year, there have been no transactions
involving the Company and Mr. Xie that would require disclosure under Item 404(a) of Regulation S-K.

Mr. Xie has not at this time entered into any compensatory arrangement
with the Company in connection with his service as a director. Any future compensatory arrangement, if entered into, will be disclosed
as required by applicable law.

Esg Inc. - 8-K

Item 5.02 - Departure/Election of Directors or Certain Officers

Item 9.01 - Financial Statements and Exhibits