AYRO CEO Wittenschlaeger resigns; Silverman named Executive Chairman, Hollingsworth Interim President

Fabric.AI, Inc.

CEO Thomas Wittenschlaeger resigned Dec 13, 2023; no disagreement cited. Severance: 12 months base salary ($280K), $114,800 bonus, COBRA for up to 12 months.
Chairman Joshua Silverman appointed Principal Executive Officer and Executive Chairman, effective Dec 14, 2023, with no additional compensation.
CFO David Hollingsworth appointed Interim President of AYRO Operating Company; salary increased to $270K/year plus $25K one-time bonus.
Company reports $48M cash, 4.9M shares outstanding; focused on cost rationalization, partnerships, and minimizing cash burn.

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Thomas M. Wittenschlaeger

Chief Executive Officer

FABC · Fabric.AI, Inc.

Effective: 2023-12-13
Successor: Joshua Silverman
Filed: December 15, 2023, 6:59 PM ET

On December 11, 2023, Thomas M. Wittenschlaeger, who served as Chief Executive Officer of AYRO, Inc. (the “Company”) and as a member of the Company’s board of directors (the “Board”), tendered his resignation from his roles as an officer, employee and director of the Company, effective as of December 13, 2023

Appointed

Joshua Silverman

Principal Executive Officer and Executive Chairman

FABC · Fabric.AI, Inc.

Effective: 2023-12-13
Filed: December 15, 2023, 6:59 PM ET

On December 14, 2023, the Board appointed Joshua Silverman, the Company’s current Chairman of the Board, to the position of Principal Executive Officer and Executive Chairman, effective as of the Effective Date.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas M. Wittenschlaeger resigned as Chief Executive Officer at Fabric.AI, Inc..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On December 11, 2023, Thomas M. Wittenschlaeger, who served as Chief Executive Officer of AYRO, Inc. (the “Company”) and as a member of the Company’s board of directors (the “Board”), tendered his resignation from his roles as an officer, employee and director of the Company, effective as of December 13, 2023

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Joshua Silverman was appointed as Principal Executive Officer and Executive Chairman at Fabric.AI, Inc..

Action: appointed
Role: Principal Executive Officer and Executive Chairman

Exact text from the filing

On December 14, 2023, the Board appointed Joshua Silverman, the Company’s current Chairman of the Board, to the position of Principal Executive Officer and Executive Chairman, effective as of the Effective Date.

View on SEC.gov

Fabric.AI, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-044973

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