Microvast CFO Craig Webster transitions to Special Advisor; equity awards to vest upon separation

Microvast Holdings, Inc.

CFO Craig Webster ceased role effective Apr 10, 2024; will serve as Special Advisor to CEO through Apr 10, 2025.
Receives monthly salary of $16,666.67, $48,000 lump sum, and prorated 2024 short-term incentive pay.
Unvested RSUs (50,000), PSUs (75,000), and stock options (666,667) will vest in full after Separation Date.
Transition not related to any disagreement with accounting or operating policies.
Transition services limited to 20 hours per month on a remote basis.

item 5.02 item 9.01

Executive movements

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Role change

Craig Webster

Chief Financial Officer

MVST · Microvast Holdings, Inc.

Effective: 2024-04-10
Filed: April 12, 2024, 7:59 PM ET

On April 10, 2024 (the “Transition Date”), Microvast Holdings, Inc. (the “Company”) and Mr. Craig Webster, Chief Financial Officer, agreed that, effective as of the Transition Date, Mr. Webster would cease to be the Company’s Chief Financial Officer and would transition to the non-executive role of Special Advisor to the Company’s Chief Executive Officer.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Craig Webster changed role as Chief Financial Officer at Microvast Holdings, Inc..

Action: transitioned from Chief Financial Officer to Special Advisor
Role: Chief Financial Officer

Exact text from the filing

On April 10, 2024 (the “Transition Date”), Microvast Holdings, Inc. (the “Company”) and Mr. Craig Webster, Chief Financial Officer, agreed that, effective as of the Transition Date, Mr. Webster would cease to be the Company’s Chief Financial Officer and would transition to the non-executive role of Special Advisor to the Company’s Chief Executive Officer.

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Microvast Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000947871-24-000372

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