Beam Global Amends 8-K/A on Executive Compensation, Board Changes

TL;DR

**Beam Global just updated executive compensation and board details, watch for strategic shifts.**

AI Summary

Beam Global filed an amended 8-K/A on January 31, 2024, to revise Item 5.02, which pertains to the departure or election of directors and officers, and their compensatory arrangements. This amendment specifically updates information regarding common stock and warrants as of January 30, 2024. This matters to investors because changes in executive compensation or board composition can signal shifts in company strategy, financial health, or governance, potentially impacting future stock performance.

Why It Matters

This filing provides updated details on executive and board compensation, which can influence investor confidence and the company's operational stability. Changes in these arrangements often reflect strategic shifts or responses to performance.

Risk Assessment

Risk Level: low — This is an amendment to a previous filing, clarifying existing information rather than announcing a new, high-impact event.

Analyst Insight

Investors should review the full details of the original 8-K and this amendment to understand the specific changes to executive compensation or board structure, as these can influence long-term company direction, but this amendment itself is unlikely to cause immediate market reaction.

Key Players & Entities

• Beam Global (company) — the registrant filing the 8-K/A
• January 30, 2024 (date) — date of earliest event reported and the date for which common stock and warrants information is updated
• January 31, 2024 (date) — date the 8-K/A was filed
• Item 5.02 (other) — the specific item being revised in the 8-K/A

Forward-Looking Statements

• Beam Global's stock (BEEM) will experience minimal volatility due to this administrative amendment. (BEEM) — high confidence, target: 2024-02-07

FAQ

Key Financial Figures

• $250,000 — ed to pay Mr. Myers an annual salary of $250,000 per year. Mr. Myers is eligible for an
• $5.90 — mon stock at an exercise price equal to $5.90 which shall vest monthly over a four-ye

Filing Documents

• beam_8k.htm (8-K/A) — 32KB
• beam_ex9901.htm (EX-99.1) — 11KB
• 0001683168-24-000572.txt ( ) — 258KB
• beem-20240130.xsd (EX-101.SCH) — 3KB
• beem-20240130_def.xml (EX-101.DEF) — 26KB
• beem-20240130_lab.xml (EX-101.LAB) — 36KB
• beem-20240130_pre.xml (EX-101.PRE) — 25KB
• beam_8k_htm.xml (XML) — 5KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 30, 2024, Beam Global (the "Company") announced the appointment of Mark Myers, 48, as Chief Operating Officer. Prior to joining Beam Global on January 16, 2024, Mr. Myers was the Senior Director of Operations of thyssenkrupp Bilstein of America, leading manufacturing, supply chain, distribution, and quality for high-quality aftermarket shock absorbers and suspension systems. Prior to that, he was the Director of Manufacturing Operations for General Atomics Electromagnetic Systems, a Management Consultant at McKinsey & Co. and served as a Nuclear Navy Officer for the United States Navy. Mr. Myers holds a Master of Science in Executive Leadership from the University of San Diego, a Master of Science in Engineering Management from Old Dominion University in Norfolk, VA and a Bachelor of Science in Naval Architecture and Marine Engineering from the Webb Institute in Glen Cove, NY. Mr. Myers and the Company agreed to an offer letter dated December 19, 2023 whereby the Company agreed to pay Mr. Myers an annual salary of $250,000 per year. Mr. Myers is eligible for an annual bonus up to 50% of his base salary subject to performance metrics established by the Company. On January 16, 2024, the Company also granted Mr. Myers an option to purchase up to 50,000 shares of the Company's common stock at an exercise price equal to $5.90 which shall vest monthly over a four-year period commencing on January 31, 2024. Mr. Myers and the Company have not engaged in any related party transaction. Mr. Myers has no family relationships with any director or executive officer of the Company, or persons nominated or chosen by the Company to become directors or executive officers. There are currently no other arrangements or understandings with Mr. Myers with respect to his appointment as Chief Operations Officer.

01

Item 7.01 Regulation FD Disclosure A press release announcing the appointment of Mr. Myers was issued by the Company on January 30, 2024, which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Financial Statements and Exhibits

Financial Statements and Exhibits Exhibit No. Description 99.1 Press release dated January 30, 2024. 104 Cover Page Interactive Data File (formatted in inline XBRL, and included in exhibit 101). 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEAM GLOBAL Dated: January 31, 2024 By: /s/ Lisa A. Potok Name: Lisa A. Potok Title: Chief Financial Officer 3

View Full Filing

View this 8-K/A filing on SEC EDGAR