NeoVolta appoints Ardes Johnson as CEO effective April 29, 2024; founder Willson remains Chairman and CTO

NeoVolta Inc.

Johnson receives base salary $350k, target bonus 100% of base (max 150%), and annual equity target $660k.
RSU grant of 1,280,000 shares vesting over 4 years as new hire award.
Initial term through June 30, 2027 with automatic one-year renewals.
Severance: 6 months base salary plus prorated bonus if terminated without cause or for good reason.
Performance goal for FY2025: sale of 1,200 units (excluding a specified distributor).

item 5.02 item 9.01

Executive movements

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Appointed

Ardes Johnson

Chief Executive Officer

NEOV · NeoVolta Inc.

Effective: 2024-04-29
Filed: April 24, 2024, 7:59 PM ET

On April 19, 2024, NeoVolta, Inc. (the “Company”) entered into an employment agreement (the “Employment Agreement”) with Ardes Johnson pursuant to which Mr. Johnson agreed to serve as the Company’s chief executive officer commencing April 29, 2024.

Role change

Brent Willson

Chairman of the Board and Chief Technology Officer

NEOV · NeoVolta Inc.

Effective: 2024-04-29
Successor: Ardes Johnson
Filed: April 24, 2024, 7:59 PM ET

Brent Willson, the founder of the Company and former chief executive officer will remain as Chairman of the Board and chief technology officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Ardes Johnson was appointed as Chief Executive Officer at NeoVolta Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On April 19, 2024, NeoVolta, Inc. (the “Company”) entered into an employment agreement (the “Employment Agreement”) with Ardes Johnson pursuant to which Mr. Johnson agreed to serve as the Company’s chief executive officer commencing April 29, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.8

Brent Willson changed role as Chairman of the Board and Chief Technology Officer at NeoVolta Inc..

Role: Chairman of the Board and Chief Technology Officer

Exact text from the filing

Brent Willson, the founder of the Company and former chief executive officer will remain as Chairman of the Board and chief technology officer.

View on SEC.gov

NeoVolta Inc. filing history →

Source: SEC EDGAR

accession 0001683168-24-002627

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