Loop Industries appoints Spencer Hart as CFO; receives 1M options at $1.02

Loop Industries, Inc.

Spencer Hart appointed CFO effective Jan 15, 2026; remains board member.
Base salary $200,000; annual cash incentive up to 75% of base salary.
Received 1M stock options at $1.02; vests over 5 years with acceleration if India plant produces 12,500 MT quarterly.
Severance: 10 months base salary, prorated bonus, full option vesting if terminated without cause.
Board loses independent majority; company qualifies as controlled company under Nasdaq rules.

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