secwatch.observer — SEC 8-K summary
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Issuer:     NeoVolta Inc. (NEOV)
CIK:        0001748137
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0001683168-24-002627
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1748137/000168316824002627/0001683168-24-002627-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1748137/000168316824002627/neovolta_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-002627

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