Faraday Future finalizes ousted CEO Breitfeld's exit; severance includes salary through Mar 3, health, option extension

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Lump-sum severance equals base salary from Dec 27, 2022 to Mar 3, 2023 at $1,687,500 annual rate.
Company will pay monthly health insurance contributions through Mar 31, 2023.
Post-termination exercise period for vested stock options extended to Mar 26, 2023.
Breitfeld required to cooperate with transition and adhere to non-disparagement and confidentiality obligations.
Original removal as CEO disclosed in Nov 28, 2022 8-K; amendment finalizes separation agreement signed Jan 30, 2023.

item 5.02 item 9.01

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Departed

Carsten Breitfeld

Global Chief Executive Officer

FFAI · FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Effective: 2022-11-26
Filed: February 1, 2023, 6:59 PM ET

voted to remove Dr. Carsten Breitfeld as Global Chief Executive Officer of the Company on November 26, 2022.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Carsten Breitfeld was removed as Global Chief Executive Officer at FARADAY FUTURE INTELLIGENT ELECTRIC INC..

Action: removed
Role: Global Chief Executive Officer

Exact text from the filing

voted to remove Dr. Carsten Breitfeld as Global Chief Executive Officer of the Company on November 26, 2022.

View on SEC.gov

FARADAY FUTURE INTELLIGENT ELECTRIC INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-006706

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