NeoVolta Inc. Files 8-K: Director Changes & Compensation Details
Ticker: NEOVW · Form: 8-K · Filed: Jan 6, 2025 · CIK: 1748137
| Field | Detail |
|---|---|
| Company | Neovolta Inc. (NEOVW) |
| Form Type | 8-K |
| Filed Date | Jan 6, 2025 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $200,000, $40,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, management-change, filing
TL;DR
NeoVolta's board is changing, with new directors coming in and compensation details being disclosed.
AI Summary
NeoVolta, Inc. filed an 8-K on January 6, 2025, reporting events as of December 31, 2024. The filing primarily concerns the departure of directors, election of new directors, appointment of officers, and details about compensatory arrangements. It also includes financial statements and exhibits.
Why It Matters
This filing indicates potential shifts in the company's leadership and governance structure, which could impact strategic direction and operational oversight.
Risk Assessment
Risk Level: medium — Changes in board composition and executive appointments can signal strategic shifts or internal adjustments that may carry inherent risks.
Key Players & Entities
- NeoVolta, Inc. (company) — Registrant
- Nevada (jurisdiction) — State of Incorporation
FAQ
What specific changes occurred regarding directors and officers?
The filing indicates the departure of directors, the election of new directors, and the appointment of certain officers, along with details on compensatory arrangements.
What is the reporting date for this 8-K filing?
The earliest event reported is as of December 31, 2024, and the filing date is January 6, 2025.
What are the main items covered in this 8-K?
The filing covers the departure of directors, election of directors, appointment of officers, compensatory arrangements, and financial statements and exhibits.
What is NeoVolta Inc.'s state of incorporation?
NeoVolta Inc. is incorporated in Nevada.
What is the SIC code for NeoVolta Inc.?
The Standard Industrial Classification code for NeoVolta Inc. is 3690 (MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES).
Filing Stats: 803 words · 3 min read · ~3 pages · Grade level 11.3 · Accepted 2025-01-06 17:25:09
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share NEOV The NASDAQ Stock Mark
- $200,000 — mpensation consisting of base salary of $200,000, a cash bonus of $40,000 upon the achie
- $40,000 — ase salary of $200,000, a cash bonus of $40,000 upon the achievement of an operational
Filing Documents
- neovolta_8k.htm (8-K) — 30KB
- neovolta_ex1001.htm (EX-10.1) — 73KB
- 0001683168-25-000117.txt ( ) — 336KB
- neov-20241231.xsd (EX-101.SCH) — 3KB
- neov-20241231_def.xml (EX-101.DEF) — 29KB
- neov-20241231_lab.xml (EX-101.LAB) — 36KB
- neov-20241231_pre.xml (EX-101.PRE) — 26KB
- neovolta_8k_htm.xml (XML) — 5KB
02 Departure
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 31, 2024, James Amos, a member of the board of directors (the "Board") of NeoVolta, Inc. (the "Company") resigned from his position as member of the Board and all committees of the Board. Gen Amos' resignation was not due to any disagreement with the Company on any matter relating to the Company's operations, policies or practices. Gen Amos will continue to be an advisor to the Company. On January 2, 2025, Chandler Weeks was appointed to the Board of Directors of the Company. Mr. Weeks has also been appointed to the Audit Committee, Compensation Committee and Nominating and Governance Committee of the Board and will serve as Chairperson of the Nominating and Governance Committee. Mr. Weeks will participate in the Company's standard compensation program for non-employee directors. On January 1, 2025, the Company entered into an employment agreement (the "Employment Agreement") with Michael Mendik pursuant to which Mr. Mendik agreed to serve as the Company's chief operating officer. The Employment Agreement provides for compensation consisting of base salary of $200,000, a cash bonus of $40,000 upon the achievement of an operational goal, and an annual equity grant based on the achievement of certain goals. Pursuant to the Employment Agreement, Mr. Mendik received a restricted stock unit award for 150,000 shares of Company common stock that will vest over a three-year period. The Employment Agreement provides for an initial term of three years through December 31, 2027, which will be automatically renewed for additional one-year terms unless either party chooses not to renew the agreement. Mr. Mendik, age 51, served as the Country Manager / General Manager of GoodWe, a global solar and storage inverter manufacturer, from June 1, 2021 until December 31, 2024 and as CEO / General Manager of C.F. Ma
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit No. Exhibit Description 10.1 Employment Agreement between the Company and Michael Mendik, dated January 1, 2025 104 Cover page Interactive Data File (embedded within the Inline XBRL document) 2 SIGNATURE 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. NeoVolta, Inc. By: /s/ Steve Bond Steve Bond Chief Financial Officer Dated: January 6, 2025 3