Spruce Power Holding Corp 8-K, filed Nov 24, 2021
Spruce Power Holding Corp (SPRU)
About this 8-K
Spruce Power Holding Corp filed this 8-K on November 24, 2021, reporting on events of November 20, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers
On November 20, 2021, Dimitri Kazarinoff resigned from the Company’s Board of Directors and he and the Company entered into a separation agreement pursuant to which, provided that Mr. Kazarinoff does not revoke the agreement on or prior to November 27, 2021 and thereafter complies with its terms, Mr. Kazarinoff’s employment as the Company’s Chief Executive Officer will end effective December 1, 2021 and he will receive (i) severance pay equal to twelve months of his current annual base salary, payable as continued salary in accordance with the Company’s regular payroll dates, (ii) acceleration of the vesting of all of his stock options that are outstanding as of December 1, 2021 by twelve months, and (iii) the extension of the period for the exercise of his stock options from three months to twenty four months post-termination.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
| XL FLEET CORP. | ||
| Date: November 24, 2021 | By: | /s/ Jim Berklas |
| Name: | Jim Berklas | |
| Title: | General Counsel | |
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