UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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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 April 21, 2026, the Compensation Committee of the Board of Directors (the “Committee”) of Twin Vee PowerCats Co. (the “Company”) approved an increase in the base salary of Preston Yarborough, the Company’s Vice President, to $250,000 per annum.
On April 22, 2026, the Company entered into an amendment (the “Yarborough Amendment”) to the employment agreement, effective as of July 23, 2021, by and between the Company and Mr. Yarborough, reflecting the increase in base salary and terminating that certain previous amendment, dated as of June 27, 2024.
The foregoing summary of the Yarborough Amendment does not purport to be complete and is subject to and qualified in its entirety by reference to the full text of the Yarborough Amendment, attached as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits |
The following exhibits are furnished with this Current Report on Form 8-K:
| Exhibit Number | Exhibit Description | |
| 10.1 | Amendment to Employment Agreement by and between Twin Vee PowerCats Co. and Preston Yarborough, dated April 22, 2026 | |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within in the inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: April 23, 2026 | TWIN VEE POWERCATS CO. | |
| By: | /s/ Joseph Visconti | |
| Name: | Joseph Visconti | |
| Title: | Chief Executive Officer, Interim Chief Financial Officer and President | |
EXHIBIT 10.1
AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment (this “Amendment”) dated as of April 22, 2026 (the “Effective Date”) amends the Employment Agreement, effective as of July 23, 2021 (the “Agreement”) by and between Twin Vee PowerCats Co. (the “Corporation”) and Preston Yarborough (“Executive”). Capitalized terms used herein without definition shall have the meanings assigned in the Agreement.
WHEREAS, the Corporation desires to amend the Agreement to change Executive’s Base Salary.
NOW THEREFORE, for the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree to amend the Agreement as follows:
1. Amendment.
Section 4(a) of the Agreement is hereby deleted in its entirety and replaced with the following:
“(a) Base Salary. During the Term of this Agreement, Executive shall receive a base salary at a gross rate of Two Hundred Fifty Thousand Dollars ($250,000) per annum (the “Base Salary”), payable in substantially equal installments in accordance with the Company’s normal payroll practices for payment of its employees, as in effect from time to time. Executive’s Base Salary shall be subject to upward adjustment from time to time, as determined by the Board (or a committee thereof) in its sole discretion, but shall not be adjusted downward.
2. Previous Amendment. The Amendment to Employment Agreement by and between Corporation and Executive dated June 27, 2024 is hereby terminated in favor of this Amendment.
3. Severability. The provisions of this Amendment are severable and if any part or it is found to be unenforceable the other paragraphs shall remain fully valid and enforceable.
4. No Other Amendments; Confirmation. All other terms of the Agreement shall remain in full force and effect. The Agreement, as amended by this Amendment, constitutes the entire agreement between the parties with respect to the subject matter thereof.
5. Counterparts. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original but both of which together shall constitute one and the same instrument.
6. Choice of Law. This Amendment shall be construed and interpreted in accordance with the internal laws of the State of Florida without regard to its conflict of laws principles.
[Signature page follows]
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year first written above.
| Corporation: | ||
| TWIN VEE POWERCATS CO. | ||
| By: | /s/ Joseph C. Visconti | |
| Name: | Joseph C. Visconti | |
| Title: | Chief Executive Officer, Interim Chief Financial Officer and President | |
| Executive: | ||
| /s/ Preston Yarborough | ||
| Preston Yarborough | ||