Microvast CAO resigns; CEO, President, COO get base salary increases and equity grants

Microvast Holdings, Inc.

CAO Lu Gao resigns effective Dec 1, 2024 for personal reasons; stays through Jan 31, 2025 or earlier.
CEO Yang Wu base salary increased to $564,480; President Isida Tushe base to $450,000 (from $200k); COO Dr. Wu base to $400,000 (from $250k).
Tushe and Dr. Wu each granted 1,000,000 stock options at $1.29 exercise price, vesting over 3 years; CEO Wu granted 500,000 RSUs fully vested at grant.
Tushe and Dr. Wu also receive one-time cash bonuses of $125,000 and $93,750 respectively, payable by March 15, 2025.

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