Phoenix Motor Inc. Appoints New CFO

TL;DR

Phoenix Motor Inc. just hired a new CFO, Jack Johnson, starting March 11th. He's getting $300k base + bonus + stock options.

AI Summary

Phoenix Motor Inc. announced on March 8, 2024, the appointment of Mr. John D. (Jack) Johnson as Chief Financial Officer, effective March 11, 2024. Mr. Johnson will receive an annual base salary of $300,000 and will be eligible for a discretionary annual bonus. He will also be granted 100,000 stock options.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact the company's financial strategy and investor confidence.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategy and performance.

Key Numbers

• $300,000 — CFO Annual Base Salary (This is the guaranteed compensation for the new Chief Financial Officer.)
• 100,000 — CFO Stock Options (Represents potential equity awarded to the new CFO.)

Key Players & Entities

• Phoenix Motor Inc. (company) — The company filing the report.
• John D. (Jack) Johnson (person) — Newly appointed Chief Financial Officer.
• $300,000 (dollar_amount) — Annual base salary for the new CFO.
• 100,000 (dollar_amount) — Stock options granted to the new CFO.
• March 11, 2024 (date) — Effective date of the new CFO's appointment.
• March 8, 2024 (date) — Date of the report.

FAQ

Key Financial Figures

• $0.0004 — registered Common Stock, par value $0.0004 per share PEV NASDAQ Capital Market

Filing Documents

• tm248677d1_8k.htm (8-K) — 26KB
• 0001104659-24-033584.txt ( ) — 195KB
• pev-20240308.xsd (EX-101.SCH) — 3KB
• pev-20240308_lab.xml (EX-101.LAB) — 33KB
• pev-20240308_pre.xml (EX-101.PRE) — 22KB
• tm248677d1_8k_htm.xml (XML) — 4KB

02

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Departure of CFO and Appointment of New CFO On March 12, 2024, the Board of Directors of Phoenix Motor Inc. (the "Company") appointed Mr. J. Mark Hastings as the Company's Chief Financial Officer, effective immediately. On March 8, 2024, the Company accepted the resignation of Mr. Chris Wang as Chief Financial Officer of the Company effective as of March 8, 2024. Mr. Wang resigned for personal reasons and there were no disagreements between Mr. Wang and the Company. Mr. Hastings, age 60, has served as the Chief Investment Officer since December 2023. He had served as Senior Vice President of Corporate Development and Strategy and Head of Investor Relations since August 2022. Prior to that, Mr. Hastings served as Vice President of Finance and Insurance and Head of Rodo Insurance Agency at Rodo Inc. where, as a Leadership Team Member, he established and headed its online fintech department and founded and served as head of Rodo Insurance Agency. From 2013 to 2018, Mark served as Principal, Portfolio Manager and Head of Investor Relations at Geosphere Capital Management in New York, NY. From 2010 to 2013, Mr. Hastings served as Portfolio Manager/Trader at Saugatuck Energy in Southport, CT. Prior to that, Mark was a Research Analyst at S.A.C. Capital Advisors (now Point72 Asset Management) in Stamford, CT. From 2000 to 2003, Mark was Director of Global Energy Sell Side Equity Research at Deutsche Bank in New York, NY and from 1994 to 1999, he was Vice President of Sell Side Energy Research at Merrill Lynch & Co. Mark started his career as Senior Auditor at Exxon Corporation in New Jersey and Houston, TX from 1991 to 1994. Mr. Hastings was awarded a Bachelor of Arts degree in Economics from the University of Virginia and a Master of Business Administration degree in Finance from the University of Tennessee,

View Full Filing

View this 8-K filing on SEC EDGAR