secwatch.observer — SEC 8-K summary
======================================

Issuer:     Velo3D, Inc. (VELO)
CIK:        0001825079
Form:       8-K
Filed at:   2025-04-28T23:59:59+00:00
Accession:  0001641172-25-006362
Event type: leadership
Sentiment:  negative
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Velo3D appoints directors Lloyd and Thieneman; Idelchik, Kreger resign; Thieneman entities hold $15M notes
--------------------------------------------------------------------------------

- Bradley Kreger (COO) and Michael Idelchik resigned as directors on April 22, 2025; no disagreement with company.
- Appointed Jason Lloyd (retired Navy Rear Admiral, VP at TotalTek) and Kenneth Thieneman (CEO Thieneman Construction) effective April 24, 2025.
- Thieneman-related entities hold $15M in secured convertible notes: $5M Jan Note ($750k interest paid) and $10M Feb Note (~$3M annual interest, unpaid as of April 25).
- Lloyd to serve on Audit, Compensation, and Nominating Committees; Thieneman's appointment gives creditor board representation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825079/000164117225006362/0001641172-25-006362-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825079/000164117225006362/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-006362

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer