Microvast appoints Craig Webster as CFO, replaces Leon Zheng; Kelterborn named President

Microvast Holdings, Inc.

CFO Leon Zheng stepped down April 14, 2022; will remain on board and serve as senior advisor for up to 18 months at $25K/month.
Craig Webster, former Lead Independent Director, appointed CFO effective April 14; base salary $400K, 1M stock options vesting over 3 years.
Sascha Kelterborn promoted from Chief Revenue Officer to President; base salary $400K, 800K stock options vesting over 3 years.
Webster resigns from board committees but stays as non-independent director for transition period.
Zheng's termination not related to any disagreement with accounting or operating policies.

item 5.02 item 2.02 item 9.01

Executive movements

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Appointed

Craig Webster

Chief Financial Officer

MVST · Microvast Holdings, Inc.

Effective: 2022-04-14
Filed: April 19, 2022, 7:59 PM ET

On April 14, 2022, the Company and Mr. Craig Webster, who currently serves as a member on the Board and Lead Independent Director, agreed that Mr. Webster will join the Company immediately as Chief Financial Officer.

Departed

Yanzhuan (Leon) Zheng

Chief Financial Officer

MVST · Microvast Holdings, Inc.

Effective: 2022-04-14
Successor: Craig Webster
Filed: April 19, 2022, 7:59 PM ET

On April 14, 2022, Microvast Holdings, Inc. (the “Company”) and Mr. Yanzhuan (Leon) Zheng, Chief Financial Officer, agreed that, effective immediately, Mr. Zheng would cease to be the Company’s Chief Financial Officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Craig Webster was appointed as Chief Financial Officer at Microvast Holdings, Inc..

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

On April 14, 2022, the Company and Mr. Craig Webster, who currently serves as a member on the Board and Lead Independent Director, agreed that Mr. Webster will join the Company immediately as Chief Financial Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Yanzhuan (Leon) Zheng resigned as Chief Financial Officer at Microvast Holdings, Inc..

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

On April 14, 2022, Microvast Holdings, Inc. (the “Company”) and Mr. Yanzhuan (Leon) Zheng, Chief Financial Officer, agreed that, effective immediately, Mr. Zheng would cease to be the Company’s Chief Financial Officer.

View on SEC.gov

Microvast Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001760689-22-000014

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