Aptera Motors Corp 8-K, filed Oct 21, 2026
Aptera Motors Corp (SEV)
About this 8-K
Aptera Motors Corp filed this 8-K on October 21, 2026, reporting on events of October 16, 2026.
Aptera Motors Corp. extended Tom DaPolito’s interim CFO engagement through October 16, 2027, accelerated unvested options upon termination without Cause or a change of control, and allowed vested options three years to exercise after other termination, not beyond original expiration. AI summary
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The Board of Directors of Aptera Motors Corp. (the “Company”) approved an amendment (the “Amendment”), effective as of October 16, 2026, to the engagement letter, dated August 25, 2025, by and between the Company and Tom DaPolito, the Company’s Interim Chief Financial Officer (the “Engagement Agreement”).
The Amendment: (i) extends the term of the Engagement Agreement through October 16, 2027, unless terminated earlier in accordance with its terms; (ii) provides that all of Mr. DaPolito’s outstanding and unvested stock options will vest in full immediately upon a change of control of the Company, whether or not his engagement is terminated; and (iii) extends the period during which Mr. DaPolito may exercise his vested stock options to three years (but not beyond the original expiration date) following any termination of his engagement, other than a termination by the Company for Cause (as defined in the Engagement Agreement). All other terms of the Engagement Agreement remain in full force and effect.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
The following exhibits are filed herewith:
| Exhibit No. | Description | |
| 10.1# | Amendment No. 1 to Engagement Agreement, effective October 16, 2026, by and between the Company and Tom DaPolito. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
# Management contract or compensatory plan or arrangement.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Aptera Motors Corp. | ||
| By: | /s/ Chris Anthony | |
| Name: | Chris Anthony | |
| Title: | Co-Chief Executive Officer | |
| Date: October 21, 2026 | ||
Exhibit 10.1
AMENDMENT NO. 1 TO INTERIM CHIEF FINANCIAL OFFICER ENGAGEMENT LETTER
This Amendment No. 1 (this “Amendment”), effective as of October 16, 2026, is entered into by and between Aptera Motors Corp., a Delaware corporation (the “Company”), and Tom DaPolito (“Consultant”), and amends the Interim Chief Financial Officer Engagement Letter between the parties dated August 25, 2025 (the “Existing Letter”). Capitalized terms used but not defined in this Amendment have the meanings given to them in the Existing Letter.
The Existing Letter is scheduled to expire on October 16, 2026. The parties wish to renew and extend the engagement for an additional one-year term on its existing terms, and to add the equity provisions set forth below. The parties therefore agree as follows:
1. Renewal and Extension of Term
The term of the Existing Letter is renewed and extended for an additional one (1) year, through October 16, 2027, unless earlier terminated in accordance with the Existing Letter or superseded by a successor engagement or employment agreement approved by the Compensation Committee. During the extended term, all existing terms of the engagement — including the monthly cash retainer, quarterly equity grants, independent-contractor status, and termination provisions — shall continue unchanged.
2. Equity Award Vesting Upon Termination Without Cause
In the event the Company terminates the engagement without Cause, the vesting of any and all outstanding and unvested stock option awards then held by Consultant shall accelerate in full, such that they become immediately and fully vested and exercisable as of the effective date of termination.
3. Change of Control
Upon the occurrence of a Change of Control of the Company (as defined in the Plan), all outstanding and unvested option awards then held by Consultant shall accelerate in full and become immediately vested and exercisable immediately prior to the closing of such Change of Control (single-trigger acceleration), without regard to whether the engagement is continued, assumed, or terminated in connection with the transaction. In connection with any Change of Control, Consultant’s vested options shall be treated no less favorably than the options of the Company’s other executive officers.
4. Extended Post-Termination Exercise Period
Notwithstanding any shorter post-termination exercise period set forth in the Stock Option and Incentive Plan or in any applicable award agreement, in the event the engagement terminates for any reason other than a termination by the Company for Cause (including, for the avoidance of doubt, a voluntary resignation by Consultant and a termination by the Company without Cause), each vested option then held by Consultant (whether granted before or after the date of this Amendment) shall remain exercisable for a period of three (3) years following the effective date of such termination (but in no event beyond the original expiration date of the option), and shall not be forfeited, cancelled, or terminated earlier by reason of the termination of the engagement.
5. No Other Changes; Approval
Except as expressly modified by this Amendment, all terms and conditions of the Existing Letter remain in full force and effect. This Amendment constitutes a compensatory arrangement with an executive officer and is entered into subject to the review and approval of the Compensation Committee of the Board of Directors. This Amendment shall be governed by the laws of the State of Delaware.
| APTERA MOTORS CORP. | ||
| By: | /s/ Chris Anthony | |
| Name: | Chris Anthony | |
| Title: | Co-Chief Executive Officer | |
| CONSULTANT | ||
| By: | /s/ Tom DaPolito | |
| Name: | Tom DaPolito | |