Ascent Solar appoints Jeffrey Max as CEO; Victor Lee resigns

Ascent Solar Technologies, Inc.

Victor Lee resigned as CEO on Sept 21, 2022; Jeffrey Max appointed immediately.
Max receives $850k base salary, $500k deferred until $10M new capital raised.
Max granted 3,534,591 RSUs; 20% vested now, 80% over 36 months; first settlement Sept 2024.
Severance upon qualifying termination: 12 months base salary, bonuses, Medicare, all equity accelerated.
Agreement includes 6-month non-compete and 12-month non-solicit obligations.

item 1.01 item 5.02 item 9.01

Executive movements

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Appointed

Jeffrey Max

Chief Executive Officer

ASTI · Ascent Solar Technologies, Inc.

Effective: 2022-09-21
Filed: September 27, 2022, 7:59 PM ET

On September 21, 2022, the Company’s board of directors appointed Jeffrey Max as the Company’s new Chief Executive Officer, effective immediately.

Departed

Victor Lee

Chief Executive Officer

ASTI · Ascent Solar Technologies, Inc.

Effective: 2022-09-21
Successor: Jeffrey Max
Filed: September 27, 2022, 7:59 PM ET

On September 21, 2022, Kong Hian Lee (aka Victor Lee) resigned from his position as Chief Executive Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jeffrey Max was appointed as Chief Executive Officer at Ascent Solar Technologies, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On September 21, 2022, the Company’s board of directors appointed Jeffrey Max as the Company’s new Chief Executive Officer, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Victor Lee resigned as Chief Executive Officer at Ascent Solar Technologies, Inc..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On September 21, 2022, Kong Hian Lee (aka Victor Lee) resigned from his position as Chief Executive Officer of the Company.

View on SEC.gov

Ascent Solar Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001079973-22-001173

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