Aemetis Appoints New CFO, Miller, McAfee Transitions to CEO
Ticker: AMTX · Form: 8-K · Filed: Jan 23, 2025 · CIK: 738214
Sentiment: neutral
Topics: management-change, executive-appointment, cfo, ceo
TL;DR
Aemetis CFO out, new CFO Miller in, McAfee takes CEO role.
AI Summary
On January 16, 2025, Aemetis, Inc. announced the appointment of Dr. David M. Miller as Chief Financial Officer, succeeding Mr. Eric C. McAfee. Dr. Miller's appointment is effective immediately, and he will also serve as a member of the company's Board of Directors. Mr. McAfee will transition to the role of Chief Executive Officer.
Why It Matters
This leadership change at Aemetis, Inc. could signal a strategic shift or a new phase of financial management and operational focus under a new CFO and CEO.
Risk Assessment
Risk Level: medium — Changes in key executive positions, especially the CFO and CEO, can introduce uncertainty regarding future strategy and financial performance.
Key Players & Entities
- Aemetis, Inc. (company) — Registrant
- Dr. David M. Miller (person) — Appointed Chief Financial Officer and Board Member
- Mr. Eric C. McAfee (person) — Departing Chief Financial Officer, transitioning to Chief Executive Officer
- January 16, 2025 (date) — Effective date of appointments
FAQ
Who has been appointed as the new Chief Financial Officer of Aemetis, Inc.?
Dr. David M. Miller has been appointed as the new Chief Financial Officer of Aemetis, Inc.
What is the effective date of Dr. David M. Miller's appointment?
The appointment of Dr. David M. Miller is effective immediately as of January 16, 2025.
What is Mr. Eric C. McAfee's new role within Aemetis, Inc.?
Mr. Eric C. McAfee will transition from his role as Chief Financial Officer to become the Chief Executive Officer of Aemetis, Inc.
Will the new CFO also join the Board of Directors?
Yes, Dr. David M. Miller will also serve as a member of the company's Board of Directors.
What was Aemetis, Inc.'s former company name?
Aemetis, Inc.'s former company name was AE BIOFUELS, INC. and prior to that AE Biofuels, Inc. and MARWICH II LTD.
Filing Stats: 636 words · 3 min read · ~2 pages · Grade level 13 · Accepted 2025-01-23 16:53:21
Key Financial Figures
- $0.001 — e last report Common Stock, par value $0.001 AMTX NASDAQ Global Market Title o
- $500,000 — and Chief Executive Officer, salary of $500,000 per year; Todd A. Waltz, Executive Vice
- $430,000 — and Chief Financial Officer, salary of $430,000 per year; Andrew B. Foster, Executive V
- $400,000 — ice President, North America, salary of $400,000 per year; Sanjeev Gupta, Executive Vice
- $200,000 — n and Chief Executive Officer, bonus of $200,000; Todd A. Waltz, Executive Vice Presiden
- $125,000 — t and Chief Financial Officer, bonus of $125,000; Andrew B. Foster, Executive Vice Presi
Filing Documents
- amtx20250122_8k.htm (8-K) — 23KB
- 0001437749-25-001731.txt ( ) — 152KB
- amtx-20250116.xsd (EX-101.SCH) — 3KB
- amtx-20250116_def.xml (EX-101.DEF) — 11KB
- amtx-20250116_lab.xml (EX-101.LAB) — 15KB
- amtx-20250116_pre.xml (EX-101.PRE) — 11KB
- amtx20250122_8k_htm.xml (XML) — 3KB
From the Filing
amtx20250122_8k.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 16, 2025 Aemetis, Inc. Exact name of registrant as specified in its charter Delaware 001-36475 26-1407544 Commission File Number IRS Employer Identification Number 20400 Stevens Creek Blvd. , Suite 700 Cupertino , CA 95014 ( 408 ) 213-0940 Registrant's address and telephone number of principal executive office N/A Former name or former address, if changed since last report Common Stock, par value $0.001 AMTX NASDAQ Global Market Title of class of registered securities Trading Symbol Name of exchange on which registered Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 ( 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ( 240.12b-2 of this chapter) If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. The Governance, Compensation, and Nominating Committee (the "Committee") of the Board of Directors of Aemetis, Inc. (the "Company") held a regular meeting on January 16, 2025, at which it considered salaries, bonuses, and equity awards for its named executive officers (the "Named Executive Officers") and certain other employees of the Company. At the meeting, the Committee reviewed the progress of the Company in achieving key goals in several different segments of operations. The Committee also reviewed the compensation of its Named Executive Officers in light of the average and range of compensation paid by a peer group of companies as analyzed in a report prepared by a third-party compensation consultant. In connection with its review, the Committee approved and authorized revised annual base salaries for the Company's Named Executive Officers in the following amounts: Eric A. McAfee, Chairman and Chief Executive Officer, salary of $500,000 per year; Todd A. Waltz, Executive Vice President and Chief Financial Officer, salary of $430,000 per year; Andrew B. Foster, Executive Vice President, North America, salary of $400,000 per year; Sanjeev Gupta, Executive Vice President, International, salary of $400,000 per year; and J. Michael Rockett, Executive Vice President and General Counsel, salary of $400,000 per year. The Committee also approved and authorized the payment of one-time bonuses to the Company's Named Executive Officers in the following amounts: Eric A. McAfee, Chairman and Chief Executive Officer, bonus of $200,000; Todd A. Waltz, Executive Vice President and Chief Financial Officer, bonus of $125,000; Andrew B. Foster, Executive Vice President, North America, bonus of $125,000; Sanjeev Gupta, Executive Vice President, International, bonus of $125,000; and J. Michael Rockett, Executive Vice President and General Counsel, bonus of $125,000. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. Aemetis, Inc. January 23, 2025 /s/ Eric A. McAfee Eric A. McAfee Chair and Chief Executive Officer