Nu Ride Inc. Files 8-K Under 'Other Events'

TL;DR

NU RIDE INC. filed an 8-K for an 'Other Event' on 5/13. Details TBD.

AI Summary

Nu Ride Inc. (formerly Lordstown Motors Corp.) filed an 8-K on May 16, 2024, reporting an event that occurred on May 13, 2024. The filing is categorized under 'Other Events' and does not provide specific details about the nature of the event in the provided text.

Why It Matters

This filing indicates a material event has occurred for Nu Ride Inc., requiring disclosure to investors. The lack of detail in the provided text necessitates further investigation into the specific event.

Risk Assessment

Risk Level: medium — The filing is under 'Other Events' without specific details, creating uncertainty about the nature and impact of the reported event.

Key Players & Entities

• NU RIDE INC. (company) — Registrant
• Lordstown Motors Corp. (company) — Former company name
• DiamondPeak Holdings Corp. (company) — Former company name
• May 13, 2024 (date) — Date of earliest event reported
• May 16, 2024 (date) — Filing date
• 1700 Broadway, 19th Floor New York , New York 10019 (address) — Principal executive offices
• 212-202-2200 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.0001 — tered Class A common stock, par value $0.0001 per share NRDE OTC Pink Indicate
• $12,000 — receive (i) a quarterly cash stipend of $12,000, which will be paid in advance on or ab
• $8,000 — ts ("RSUs") with a fair market value of $8,000 per quarter ($96,000 in the aggregate),
• $96,000 — air market value of $8,000 per quarter ($96,000 in the aggregate), based on the closing

Filing Documents

• tm2414637d1_8k.htm (8-K) — 23KB
• 0001104659-24-062557.txt ( ) — 189KB
• ride-20240513.xsd (EX-101.SCH) — 3KB
• ride-20240513_lab.xml (EX-101.LAB) — 33KB
• ride-20240513_pre.xml (EX-101.PRE) — 22KB
• tm2414637d1_8k_htm.xml (XML) — 3KB

01

Item 8.01 Other Events. Following a review by, and upon the recommendation of, the Compenation Committee of the Board of Directors (the "Board") of Nu Ride Inc. (the "Company"), on May 13, 2024, the Board adopted a modified director compensation plan that includes the payment of cash and equity consideration to outside directors for service on the Board. Accordingly, each director will receive (i) a quarterly cash stipend of $12,000, which will be paid in advance on or about the first day of each calendar quarter, and (ii) a three-year grant under the Company's 2020 Equity Compensation Plan of restricted stock units ("RSUs") with a fair market value of $8,000 per quarter ($96,000 in the aggregate), based on the closing price per share of the Company's common stock on May 13, 2024. The RSUs granted cover service on the Board through the first quarter of 2027 and vest quarterly through January 30, 2027, subject to acceleration on the occurrence of certain events. The amount of quarterly director compensation of $12,000 cash and $8,000 equity remains the same as previously approved by the Board and disclosed in the Company's Form 8-K filed on March 15, 2024, but the cash portion will be paid in advance rather than in arrears and the equity portion consists of a single grant of RSUs for up to twelve quarters of service rather than as quarterly issuances of shares of common stock.

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. NU RIDE INC. By: /s/ William Gallagher Name: William Gallagher Date: May 16, 2024 Title: Chief Executive Officer, President, Secretary, and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR