Tigo Energy, Inc 8-K, filed Oct 7, 2024
Tigo Energy, Inc. (TYGO)
About this 8-K
Tigo Energy, Inc filed this 8-K on October 7, 2024.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
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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.
On October 7, 2024, Tigo Energy, Inc. (“Tigo” or the “Company”) announced that it appointed Anita Chang to serve as the Chief Operating Officer of the Company, effective October 7, 2024.
Ms. Chang, age 51, Ms. Chang served as the Senior Vice President of Global Manufacturing Operations of Tigo from May 2023 to October 2023, the Chief Operating Officer of Tigo from July 2020 to May 2023, and the Vice President of Operations & General Manager, China, at Tigo from 2015 to 2020. She was responsible for leading Tigo’s product delivery and fulfillment obligations worldwide. She came to Tigo with more than 17 years of experience in global Sales, Engineering, Quality Assurance, Product Management and Supplier Management roles across the consumer devices, optical storage, touch solutions, and data communication industries. Previously, Ms. Chang held various leadership positions at TE Connectivity, Quanta Storage Inc., and Taiwan Video & Monitor Corp. (part of TPK group).
The Company has entered into a letter agreement (the “Offer Letter”) with Ms. Chang which provides for an initial base salary of $260,000. In addition, pursuant to the Offer Letter and subject to Board approval, Ms. Chang is expected to receive the following awards in connection with her appointment as Chief Operating Officer, subject to the terms and conditions of the Company’s 2023 Equity Incentive Plan and forms of awards thereunder: (i) an option to purchase 250,000 shares of the Company’s common stock (“Options”), (ii) an award of 144,000 restricted stock units (“RSUs”) and (iii) an award of 71,000 performance stock units (“PSUs”). The PSUs will vest based on the achievement of performance goals over the applicable performance period, subject to continued service. The RSUs and Options will vest based on the vesting schedules included in the grant agreements, subject to continued service.
There are no other arrangements or understandings pursuant to Ms. Chang’s appointment as Chief Operating Officer. There are no family relationships among any of the Company’s executive officers, members of the Board and Ms. Chang, and there are no transactions with Ms. Chang that require disclosure pursuant to Item 404(a) of Regulation S-K.
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SIGNATURES
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.
Dated: October 7, 2024
| TIGO ENERGY, INC. | ||
| By: | /s/ Bill Roeschlein | |
| Name: | Bill Roeschlein | |
| Title: | Chief Financial Officer | |
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