---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-009335"
form_type: "8-K"
ticker: "ZCAR"
cik: "0001854275"
company_name: "Zoomcar Holdings, Inc."
filed_at: "2024-02-02T23:59:59+00:00"
generated_at: "2026-06-06T10:09:31.140527+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Zoomcar grants lock-up release for 4.42M shares; director David Ishag resigns

## Summary
- Released 2,375,925 shares (ASJC Global) and 2,041,575 shares (Cohen Sponsor) from lock-up for 120 days.
- Consideration: cash fee of $0.50–$1.50 per share sold less legal fees up to $50,000, paid within 3 days after each 14-day period.
- Director David Ishag resigned January 30, 2024; not related to any disagreement with the company.
- Shares not sold during the 120-day period will have lock-up restrictions re-affixed; no fee due for those unsold shares.

## SEC filing metadata
- accession: 0001213900-24-009335
- form_type: 8-K
- ticker: ZCAR
- cik: 0001854275
- company_name: Zoomcar Holdings, Inc.
- filed_at: 2024-02-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1854275/000121390024009335/0001213900-24-009335-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854275/000121390024009335/ea192584-8k_zoomcar.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-009335
- JSON: https://secwatch.observer/filing/0001213900-24-009335.json
- Plain text: https://secwatch.observer/filing/0001213900-24-009335.txt

## Key facts
- Executive change
  David Ishag resigned as member of the board of directors at Zoomcar Holdings, Inc..
  - Action: resigned
  - Role: member of the board of directors
  source text: On January 30, 2024, David Ishag tendered his resignations as a member of the board of directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000121390024009335/0001213900-24-009335-index.htm
- Material Agreements
  Zoomcar Holdings, Inc. entered into Lock-Up Release Agreement with ASJC Global LLC – Series 24 and Cohen Sponsor LLC – A24 RS valued at cash fee to be paid by the Lock-Up Release Parties to the Company within 3 business days following e (effective 2024-02-01).
  - Action: entry
  - Agreement: lease
  - Counterparty: ASJC Global LLC – Series 24 and Cohen Sponsor LLC – A24 RS
  - Value: cash fee to be paid by the Lock-Up Release Parties to the Company within 3 business days following e
  - Effective: 2024-02-01
  source text: On February 1, 2024, the Company entered into an agreement (the “ Lock-Up Release Agreement ”) with two of the former members of the Sponsor, ASJC Global LLC – Series 24 (“ ASJC ”) and Cohen Sponsor LLC – A24 RS (“ Sponsor Investor ”, and together with ASJC, the “ Lock-Up Release Parties ”), pursuant to which the Company agreed to waive the lock-up restrictions provided for in the Letter Agreement with respect to the Lock-Up Release Parties for a period of 120 days (the “ Lock-Up Release Period ”) in exchange for a cash fee
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000121390024009335/0001213900-24-009335-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.