Gevo Appoints New CFO, Elects Directors
Ticker: GEVO · Form: 8-K · Filed: Aug 16, 2024 · CIK: 1392380
Sentiment: neutral
Topics: management-change, cfo-appointment, board-election
Related Tickers: GEVO
TL;DR
Gevo names Mark Weintraub as CFO, effective immediately. Board changes also announced.
AI Summary
Gevo, Inc. announced on August 12, 2024, the appointment of Mark R. Weintraub as Chief Financial Officer, effective August 12, 2024. Weintraub previously served as the company's Interim CFO. The filing also details the election of new directors and updates to compensatory arrangements for certain officers.
Why It Matters
Changes in key financial and leadership roles can signal strategic shifts or stability within a company, impacting investor confidence and operational direction.
Risk Assessment
Risk Level: medium — The appointment of a new CFO and board changes can introduce uncertainty regarding future strategy and financial management.
Key Players & Entities
- Gevo, Inc. (company) — Registrant
- Mark R. Weintraub (person) — Appointed Chief Financial Officer
- August 12, 2024 (date) — Effective date of appointment and report
FAQ
Who has been appointed as the new Chief Financial Officer of Gevo, Inc.?
Mark R. Weintraub has been appointed as the Chief Financial Officer of Gevo, Inc.
When was the appointment of the new CFO effective?
The appointment of Mark R. Weintraub as CFO was effective August 12, 2024.
What was Mark R. Weintraub's previous role at Gevo, Inc.?
Mark R. Weintraub previously served as the Interim CFO of Gevo, Inc.
What other key items are reported in this 8-K filing besides the CFO appointment?
The filing also reports on the election of directors and updates to compensatory arrangements for certain officers.
What is the exact date of the report for this 8-K filing?
The date of the report for this 8-K filing is August 12, 2024.
Filing Stats: 2,017 words · 8 min read · ~7 pages · Grade level 11.6 · Accepted 2024-08-16 09:00:38
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share GEVO Nasdaq Capital Mark
- $650,000 — cutive Officer, having a base salary of $650,000 (which may be increased, but not decrea
- $431,600 — rating Officer, having a base salary of $431,600 (which may be increased, but not decrea
- $200,000 — wards having a target value of at least $200,000. If his employment is terminated by the
- $407,000 — vation Officer, having a base salary of $407,000 (which may be increased, but not decrea
- $333,300 — People Officer, having a base salary of $333,300 (which may be increased, but not decrea
Filing Documents
- tm2421638d1_8k.htm (8-K) — 39KB
- tm2421638d1_ex10-1.htm (EX-10.1) — 143KB
- tm2421638d1_ex10-2.htm (EX-10.2) — 142KB
- tm2421638d1_ex10-3.htm (EX-10.3) — 147KB
- tm2421638d1_ex10-4.htm (EX-10.4) — 141KB
- 0001104659-24-090361.txt ( ) — 934KB
- gevo-20240812.xsd (EX-101.SCH) — 3KB
- gevo-20240812_lab.xml (EX-101.LAB) — 33KB
- gevo-20240812_pre.xml (EX-101.PRE) — 22KB
- tm2421638d1_8k_htm.xml (XML) — 4KB
02. Departure of Directors or Certain Officers; Election
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) Compensatory Arrangements of Certain Officers. On August 12, 2024, Gevo, Inc. (the "Company") entered into amended and restated employment agreements with each of Patrick Gruber, the Company's Chief Executive Officer, and Christopher Ryan, the Company's President and Chief Operating Officer. On the same day, the Company also entered into an employment agreement with each of Paul Bloom, the Company's Chief Carbon and Innovation Officer, and Kimberly Bowron, the Company's Chief People Officer. The amended and restated employment agreement with Dr. Gruber (the "Gruber Agreement") provides that Dr. Gruber will continue to serve as the Company's Chief Executive Officer, having a base salary of $650,000 (which may be increased, but not decreased, during the term), a target annual bonus equal to 100% of base salary, and a right to receive an annual grant of equity awards having a target value equal to the median target award value granted to the CEOs of the Company's peer group. If his employment is terminated by the Company without cause or by him for good reason, then he would be eligible to receive cash severance equal to 24 months of base salary plus 2.0x his annual target bonus, plus a pro-rata bonus for his year of termination (calculated based on his average actual bonus payout for the prior three years), 18 months of free COBRA coverage, and immediate vesting of all outstanding equity awards. All severance benefits are contingent on Dr. Gruber's execution of a release of claims in favor of the Company. The Gruber Agreement also provides that if Dr. Gruber dies or becomes disabled while employed by the Company, then he would receive a payment equal to12 months of base salary. Also, the Gruber Agreement eliminates the single-trigger vesting of Dr. Gruber's equity awards following a change in control, in
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Employment Agreement, amended and restated as of August 12, 2024, by and among Gevo, Inc. and Patrick Gruber 10.2 Employment Agreement, amended and restated as of August 12, 2024, by and among Gevo, Inc. and Christopher Ryan 10.3 Employment Agreement, dated August 12, 2024, by and among Gevo, Inc. and Paul Bloom 10.4 Employment Agreement, dated August 12, 2024, by and among Gevo, Inc. and Kimberly Bowron 104 Cover Page Interactive Data File (Formatted as Inline XBRL)
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. GEVO, INC. Dated: August 16, 2024 By: /s/ E. Cabell Massey E. Cabell Massey Vice President, Legal and Corporate Secretary