EVgo Inc. Files 8-K: Board Changes and Officer Compensation

TL;DR

EVgo's board is changing, with new directors and officer pay details filed today.

AI Summary

EVgo Inc. announced on September 19, 2024, a change in its board of directors, with the election of new directors and the appointment of certain officers. The company also disclosed compensatory arrangements for its officers. This filing is a current report under the Securities Exchange Act of 1934.

Why It Matters

Changes in a company's board and executive compensation can signal shifts in strategy or governance, impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Board and officer changes, along with compensation disclosures, can sometimes precede significant strategic shifts or indicate internal dynamics that may affect the company's future.

Key Players & Entities

• EVgo Inc. (company) — Filer of the 8-K report
• September 19, 2024 (date) — Date of the earliest event reported

FAQ

Key Financial Figures

• $0.0001 — tered Shares of Class A common stock, $0.0001 par value EVGO Nasdaq Global Select
• $11.50 — A common stock at an exercise price of $11.50 EVGOW Nasdaq Global Select Market
• $400,000 — n will receive an annual base salary of $400,000 and will be eligible for an annual bonu
• $350,000 — units (" PSUs ) with a target value of $350,000 (with the number of shares underlying t
• $6 — ng a target share price (tranche one is $6 per share, tranche two is $8 per share
• $8 — che one is $6 per share, tranche two is $8 per share and tranche three is $10 per
• $10 — wo is $8 per share and tranche three is $10 per share, in each case calculated usin
• $116,666.67 — 3 rd. of the PSUs (i.e., PSUs valued at $116,666.67 (with the number of shares based on the
• $950,000 m — s of management, with a target value of $950,000 multiplied by a fraction, (x) the numerat

Filing Documents

• tm2424322d1_8k.htm (8-K) — 49KB
• tm2424322d1_ex10-1.htm (EX-10.1) — 134KB
• tm2424322d1_ex99-1.htm (EX-99.1) — 10KB
• 0001104659-24-101207.txt ( ) — 456KB
• evgo-20240919.xsd (EX-101.SCH) — 4KB
• evgo-20240919_def.xml (EX-101.DEF) — 26KB
• evgo-20240919_lab.xml (EX-101.LAB) — 37KB
• evgo-20240919_pre.xml (EX-101.PRE) — 25KB
• tm2424322d1_8k_htm.xml (XML) — 6KB

02 Departure of Directors or Certain Officers;

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 18, 2024, the Board of Directors (the " Board ") of EVgo Inc., a Delaware corporation (the " Company ") appointed Mr. Paul Dobson as its Chief Financial Officer, principal accounting officer and principal financial officer, in each case effective as of October 1, 2024 (the " Start Date "). Ms. Stephanie Lee will also step down from her role as Interim Chief Financial Officer to resume her prior role as the Company's Executive Vice President of Accounting and Finance as of such date. Mr. Dobson, age 58, joins the Company from Ballard Power Systems where he served as Senior Vice President & Chief Financial Officer since March 2021. He previously held senior financial and operating roles at Hydro One Inc. from July 2018 to May 2019 and at Direct Energy for 15 years, including as CFO and COO. Prior to that, Mr. Dobson served for 10 years at CIBC in various finance, strategy and business development roles. Mr. Dobson brings over 25 years of global financial, operations and leadership experience, including significant experience in the energy industry. Mr. Dobson holds an Honours Bachelor's degree from the University of Waterloo and an MBA from the Ivey Business School, Western University, and is a licensed CPA and CMA. He also currently serves on the board of directors of Methanex Corporation. In connection with his appointment, on September 18, 2024, (the " Effective Date "), Mr. Dobson entered into an at-will employment agreement with EVgo Services LLC, an affiliate of the Company (the " Employment Agreement "). Pursuant to the Employment Agreement, Mr. Dobson will receive an annual base salary of $400,000 and will be eligible for an annual bonus based on a target bonus opportunity of 75% (up to a maximum of 112.5%) of Mr. Dobson's annual base salary, prorated for the period of time he is employed

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. A copy of the Company's press release announcing the leadership transition and related matters is attached hereto as Exhibit 99.1. The information furnished herewith pursuant to this Item 7.01 of this Form 8-K shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits: ExhibitNo. Description 10.1 Employment Agreement dated September 18, 2024, between EVgo Services LLC and Paul Dobson. 99.1 Press Release issued by EVgo Inc. on September 19, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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. EVgo Inc. /s/ Francine Sullivan Date: September 19, 2024 Name: Francine Sullivan Title: Chief Legal Officer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR