NeoVolta Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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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. Maier Composites, Inc. from March 1, 2020 until June 1, 2021. Mr. Mendik holds a PhD in Natural Sciences and a Master's in Physics from the Swiss Federal Institute of Technology, Zurich, as well as an MBA from Robert Morris University, Pittsburgh.
The foregoing description of the Employment Agreement is subject to and qualified in its entirety by reference to the full text of the Employment Agreement, a copy of which is included as Exhibit 10.1 hereto, the terms of which are incorporated herein by reference.
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) |
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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
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