Velo3D Board Changes: New Directors Appointed, Two Resign
Ticker: VLDXW · Form: 8-K · Filed: Sep 30, 2024 · CIK: 1825079
| Field | Detail |
|---|---|
| Company | Velo3d, Inc. (VLDXW) |
| Form Type | 8-K |
| Filed Date | Sep 30, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $40,000, $7,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, management
Related Tickers: VLD
TL;DR
Velo3D board shakeup: Hart & Smith out, Theriault & Johnson in. New blood for the 3D printing company.
AI Summary
Velo3D, Inc. announced on September 26, 2024, a change in its board of directors. Specifically, Kevin Hart and Mark J. K. Smith have resigned from the board, and the company has appointed two new directors, Dr. Jeffrey S. Theriault and Dr. David L. R. Johnson. These changes are effective immediately.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future decision-making.
Risk Assessment
Risk Level: medium — Board changes can introduce uncertainty regarding future strategy and leadership effectiveness.
Key Players & Entities
- Velo3D, Inc. (company) — Registrant
- Kevin Hart (person) — Resigned Director
- Mark J. K. Smith (person) — Resigned Director
- Dr. Jeffrey S. Theriault (person) — Appointed Director
- Dr. David L. R. Johnson (person) — Appointed Director
- September 26, 2024 (date) — Effective date of changes
FAQ
Who has resigned from the Velo3D board of directors?
Kevin Hart and Mark J. K. Smith have resigned from the Velo3D board of directors.
Who has been appointed to the Velo3D board of directors?
Dr. Jeffrey S. Theriault and Dr. David L. R. Johnson have been appointed to the Velo3D board of directors.
What is the effective date of these board changes?
The changes to the Velo3D board of directors are effective as of September 26, 2024.
What is Velo3D, Inc.'s principal executive office address?
Velo3D, Inc.'s principal executive office is located at 2710 Lakeview Court, Fremont, California 94538.
What is Velo3D's fiscal year end?
Velo3D's fiscal year ends on December 31.
Filing Stats: 1,111 words · 4 min read · ~4 pages · Grade level 11.6 · Accepted 2024-09-30 16:03:34
Key Financial Figures
- $40,000 — that Mr. Porter shall receive a fee of $40,000 for each month and a payment of $7,000
- $7,000 — $40,000 for each month and a payment of $7,000 for each day in which he is required to
Filing Documents
- vldx-20240926.htm (8-K) — 56KB
- vldx-ex10_1.htm (EX-10.1) — 66KB
- 0000950170-24-110362.txt ( ) — 274KB
- vldx-20240926.xsd (EX-101.SCH) — 51KB
- vldx-20240926_htm.xml (XML) — 4KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Independent Director Agreement, dated September 26, 2024, by and between the Company and Darryl Porter 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Velo3D, Inc. Date: September 30, 2024 By: /s/ Bradley Kreger Name: Bradley Kreger Title: Chief Executive Officer