FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI): auditor change — Faraday Future restates financials for FY2022 and Q1-Q3 2022; appoints Jonathan Maroko as interim CFO

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Non-reliance on prior financials for FY2022, Q1 2023, and Q3 2022 due to fair value error on convertible notes.
Yun Han resigns as interim CFO, remains CAO; Jonathan Maroko appointed interim CFO effective July 24, 2023.
Maroko receives $400k base salary, $200k signing bonus, $250k annual bonus potential, and equity grants.
Restatement not expected to affect FF 91 2.0 Futurist Alliance delivery timeline.
Audit committee determined errors stemmed from a non-cash, non-operating item related to note conversion.

item 4.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change (interim)

Yun Han

Interim Chief Financial Officer

FFAI · FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Effective: 2023-07-05
Successor: Jonathan Maroko
Filed: July 11, 2023, 7:59 PM ET

On July 5, 2023, Yun Han notified the Company of her decision to resign from her positions as Interim Chief Financial Officer, principal financial officer and principal accounting officer effective immediately.

Appointed (interim)

Jonathan Maroko

Interim Chief Financial Officer

FFAI · FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Effective: 2023-07-24
Filed: July 11, 2023, 7:59 PM ET

On July 11, 2023 the Board appointed Jonathan Maroko as Interim Chief Financial Officer, principal financial officer and principal accounting officer effective July 24, 2023.

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

FARADAY FUTURE INTELLIGENT ELECTRIC INC. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Mazars USA LLP

Exact text from the filing

that the Company’s previously issued financial statements included in the Company’s Annual Report on Form 10-K for the period ended December 31, 2022 and Quarterly Reports on Form 10-Q for the periods ended March 31, 2023 and September 30, 2022 (the “Affected Periods”) should no longer be relied upon due to errors identified in the affected periods primarily due to an error stemming from a non-cash and non-operating item related to the change in the fair value upon conversion of the notes issued under the Company’s Securities Purchase Agreements.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Yun Han resigned as Interim Chief Financial Officer at FARADAY FUTURE INTELLIGENT ELECTRIC INC..

Action: resigned
Role: Interim Chief Financial Officer

Exact text from the filing

On July 5, 2023, Yun Han notified the Company of her decision to resign from her positions as Interim Chief Financial Officer, principal financial officer and principal accounting officer effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jonathan Maroko was appointed as Interim Chief Financial Officer at FARADAY FUTURE INTELLIGENT ELECTRIC INC..

Action: appointed
Role: Interim Chief Financial Officer

Exact text from the filing

On July 11, 2023 the Board appointed Jonathan Maroko as Interim Chief Financial Officer, principal financial officer and principal accounting officer effective July 24, 2023.

View on SEC.gov

6 auditor changes filed in the last 30 days. Browse all auditor changes →

FARADAY FUTURE INTELLIGENT ELECTRIC INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-056255

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