Volcon Appoints New CFO, Elects Director
Ticker: EMPD · Form: 8-K · Filed: Jul 29, 2024 · CIK: 1829794
| Field | Detail |
|---|---|
| Company | Volcon, INC. (EMPD) |
| Form Type | 8-K |
| Filed Date | Jul 29, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.00001, $50,000, $100,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-election, executive-appointment
TL;DR
Volcon shakes up finance and board with new CFO and director appointments.
AI Summary
Volcon, Inc. announced on July 29, 2024, the appointment of Kevin Roy as Chief Financial Officer and the election of Michael D. Smith to its Board of Directors. The company also disclosed compensatory arrangements for its officers. These changes are effective as of July 29, 2024.
Why It Matters
Changes in key financial and board leadership can signal shifts in company strategy and financial oversight, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in executive and board positions can introduce uncertainty regarding future strategy and financial management.
Key Players & Entities
- Volcon, Inc. (company) — Registrant
- Kevin Roy (person) — Appointed Chief Financial Officer
- Michael D. Smith (person) — Elected to Board of Directors
- July 29, 2024 (date) — Effective date of appointments and election
FAQ
Who has been appointed as the new Chief Financial Officer of Volcon, Inc.?
Kevin Roy has been appointed as the new Chief Financial Officer of Volcon, Inc.
Who was elected to the Board of Directors of Volcon, Inc.?
Michael D. Smith was elected to the Board of Directors of Volcon, Inc.
What is the effective date of these appointments and elections?
The effective date for the appointment of Kevin Roy and the election of Michael D. Smith is July 29, 2024.
What other information is disclosed regarding officers in this filing?
The filing also discloses compensatory arrangements of certain officers.
What is the principal executive office address for Volcon, Inc.?
The principal executive office address is 3121 Eagles Nest Street, Suite 120, Round Rock, TX 78665.
Filing Stats: 498 words · 2 min read · ~2 pages · Grade level 10.8 · Accepted 2024-07-29 16:38:54
Key Financial Figures
- $0.00001 — h registered Common Stock , par value $0.00001 per share VLCN NASDAQ Indicate by
- $50,000 — hich provides for an annual cash fee of $50,000. Mr. Solgaard will also receive an opti
- $100,000 — hares of Company common stock valued at $100,000 using a Black-Scholes model calculation
Filing Documents
- volcon_8k.htm (8-K) — 27KB
- 0001683168-24-005112.txt ( ) — 195KB
- vlcn-20240729.xsd (EX-101.SCH) — 3KB
- vlcn-20240729_lab.xml (EX-101.LAB) — 33KB
- vlcn-20240729_pre.xml (EX-101.PRE) — 22KB
- volcon_8k_htm.xml (XML) — 4KB
02 Departure of Directors or Certain Officers; Election of
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 29, 2024, the Board of Directors of Volcon, Inc. (the "Company") appointed Adrian Solgaard as an independent member of the Company's Board of Directors effective on such date. Mr. Solgaard was also appointed to serve on the audit committee, compensation committee and nominating and governance committee of the Board of Directors. Mr. Solgaard will participate in the Company's standard compensation program for non-employee directors, which provides for an annual cash fee of $50,000. Mr. Solgaard will also receive an option to purchase shares of Company common stock valued at $100,000 using a Black-Scholes model calculation vesting over one year, subject to the approval by the Company's shareholders of an increase in the number of shares available for issuance under the Volcon 2021 Stock Plan. 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Volcon, Inc. (Registrant) Date: July 29, 2024 /s/ Greg Endo Greg Endo Chief Financial Officer 3