FREYR Battery Announces Board and Executive Compensation Changes
Ticker: TE-WT · Form: 8-K · Filed: Nov 18, 2024 · CIK: 1992243
| Field | Detail |
|---|---|
| Company | Freyr Battery, Inc. /De/ (TE-WT) |
| Form Type | 8-K |
| Filed Date | Nov 18, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $11.50, $800,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
TL;DR
FREYR Battery shakes up board, adjusts exec pay.
AI Summary
On November 18, 2024, FREYR Battery, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation. Specifically, the filing announced the election of new directors and adjustments to compensatory arrangements for certain officers, effective as of the report date.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future financial performance.
Risk Assessment
Risk Level: medium — Changes in board and executive compensation can indicate internal shifts that may impact future performance and strategy.
Key Players & Entities
- FREYR Battery, Inc. (company) — Registrant
- November 18, 2024 (date) — Report Date
FAQ
What specific changes were made to the board of directors?
The filing indicates the election of new directors, but the specific names and details of their appointments are not provided in the summary text.
Were there any changes to executive officer positions?
The filing mentions 'Departure of Directors or Certain Officers' and 'Appointment of Certain Officers', suggesting potential changes, but specific details are not in the provided text.
What is the nature of the 'Compensatory Arrangements' mentioned?
The filing notes 'Compensatory Arrangements of Certain Officers' but does not specify the details of these arrangements in the provided text.
What is the effective date of these reported changes?
The report states that the earliest event reported was on November 18, 2024, and the date as of change is also November 18, 2024.
What is FREYR Battery's primary business?
FREYR Battery, Inc. is in the business of 'ELECTRONIC COMPONENTS & ACCESSORIES' with SIC code 3670.
Filing Stats: 528 words · 2 min read · ~2 pages · Grade level 11.6 · Accepted 2024-11-18 16:05:09
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 FREY The New York Stock Exchange
- $11.50 — of Common Stock at an exercise price of $11.50 FREY WS The New York Stock Exchange
- $800,000 — lo agreed upon an annual base salary of $800,000 for the role as CEO of the Company, wit
Filing Documents
- ea0221697-8k_freyr.htm (8-K) — 30KB
- 0001213900-24-099639.txt ( ) — 242KB
- t2t-20241118.xsd (EX-101.SCH) — 4KB
- t2t-20241118_def.xml (EX-101.DEF) — 26KB
- t2t-20241118_lab.xml (EX-101.LAB) — 36KB
- t2t-20241118_pre.xml (EX-101.PRE) — 25KB
- ea0221697-8k_freyr_htm.xml (XML) — 6KB
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. On November 6, 2024, the Board of Directors (the "Board") of FREYR Battery, Inc., a Delaware corporation (the "Company"), announced the appointment of Daniel Barcelo as its CEO, effective immediately. On November 17, 2024, the Company and Mr. Barcelo agreed upon an annual base salary of $800,000 for the role as CEO of the Company, with such remuneration to be calculated effective November 4, 2024. The other terms of his compensation as CEO of the Company remain under discussion and will be separately disclosed when finalized. Mr. Barcelo will receive no compensation for his service as a director of the Board apart from his compensation as CEO.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1 SIGNATURE 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. FREYR Battery, Inc. Date: November 18, 2024 By: /s/ Daniel Barcelo Name: Daniel Barcelo Title: Chief Executive Officer and Chairman of the Board of Directors 2