Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously reported in a Current Report on Form 8-K, Sherri Baker will join
Hyliion Holdings Corp. (the "Company") as Chief Financial Officer on February 8,
2021. As part of the transition to Ms. Baker, Greg Van de Vere notified the
Company of his intention to resign as Chief Financial Officer, Principal
Financial Officer and Principal Accounting Officer at a later date. Effective
January 15, 2021, Mr. Van de Vere notified the Company of his resignation and
retirement as of such date. Accordingly, on January 22, 2021, the Board of
Directors of the Company appointed Mr. Greg Standley, current Vice President of
Finance and Accounting to serve as the Company's interim Chief Financial
Officer, Principal Accounting Officer and Principal Financial Officer until Ms.
Baker assumes such roles and responsibilities per her previously disclosed
appointment and Employment Agreement.
Greg Standley, age 49, was appointed as our interim Chief Financial Officer on
January 22, 2021. Since September 2020, Mr. Standley has been serving as our
Vice President of Finance and Accounting. Previously, from July 2008 to
September 2020, Mr. Standley held various finance and accounting roles at
EZCorp, Inc., most recently as Vice President of Accounting and Finance
Transformation from October 2018 to September 2020, and prior thereto as Senior
Director and Global Corporate Controller from September 2014 to September 2018.
Mr. Standley has a B.S. in Accounting from Oklahoma State University and is a
licensed C.P.A. in Texas.
Mr. Standley's compensation is set forth in his employment offer letter dated
August 3, 2020, which provides for an initial annual base salary of $230,000,
paid semi-monthly per the Company's normal payroll practices. Mr. Standley is
also entitled to receive equity awards under the Company's equity compensation
plans, and is eligible for discretionary bonuses from time to time under the
Company's employee bonus programs. Mr. Standley's employment offer letter
provides for at-will employment. Mr. Standley was not awarded any additional
compensation in connection with this interim appointment.
The foregoing is only a brief description of the above-specified compensatory
arrangements, which does not purport to be a complete description of the rights
and obligations of the parties thereunder and is qualified in its entirety by
reference to the employment offer letter that will be filed as an exhibit to the
Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, as
well as the 2020 Equity Incentive Plan and the forms of award agreements
thereunder that were previously filed as exhibits to the Company's reports with
the U.S Securities and Exchange Commission.
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