Volcon (VLCN) has released an update to notify the public and investors about its officers.
John Kim has been appointed as the new CEO and president of a company, with an $800,000 base salary, a $250,000 annual bonus, and a significant annual option grant, subject to shareholder approval. Similarly, Greg Endo will continue as CFO and executive vice-president, with a reduced base salary of $238,500 until year-end and up to a 50% bonus, based on committee criteria. Both agreements have one-year terms with automatic renewals and include severance packages and potential bonuses linked to the company’s performance and change in control transactions. Additionally, Jordan Davis resigned as CEO and has a short-term consulting agreement to aid the transition.
For further insights into VLCN corporate activity, check out TipRanks’ Insiders Trading Activity page.
For a comprehensive understanding of the announcement, you can read the full document here.
