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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Gevo, Inc.    GEVO

GEVO, INC.

(GEVO)
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GEVO, INC. : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

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11/15/2019 | 09:07am EST

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 9, 2019, Lynn Smull was named as Chief Financial Officer of Gevo, Inc. (the "Company") and was also designated as the Company's principal financial officer for Securities and Exchange Commission reporting purposes, in each case effective as of December 16, 2019.

Mr. Smull, age 58, has served as Chief Financial Officer of One Energy Enterprises, a distributed-generation wind energy developer and owner using utility-scale turbines, from March 2018 to August 2019. From September 2016 to March 2018, he served as President of WElink Energy US, LLC, an international investor and provider of renewable energy and low-carbon housing solutions. Prior to WElink Energy US, LLC, Mr. Smull served as Head of Foresight Group US, LLC, an independent infrastructure and private equity investment manager from March 2015 to August 2016, and as a consultant with LLS Consulting, providing advisory services to private equity firms on large power and infrastructure investments and transactions, from 2013 to March 2015.

In connection with his employment, the Company entered into an offer letter agreement with Mr. Smull (the "Offer Letter), which provides for an initial base salary of $300,000, subject to annual adjustment by the Board of Directors of the Company (the "Board"), and he will receive a signing bonus of $25,000, paid on or about his first day of work. He will be eligible to participate in the Company's bonus and equity programs at the discretion of the Board. Mr. Smull will also participate in the benefit programs generally provided to other employees of the Company. If Mr. Smull's employment is terminated by the Company for any reason, he will be entitled to receive severance in the amount of three months of his base salary.

In connection with his appointment as Chief Financial Officer, the Company also agreed to grant Mr. Smull an equity award valued at $150,000 to be issued under the Company's Amended and Restated 2010 Stock Incentive Plan. The equity award will be issued to Mr. Smull sometime after his employment with the Company begins.

The foregoing description of the Offer Letter does not purport to be complete and is subject to, and is qualified in its entirety by, the full text of the Offer Letter, a copy of which is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated herein by reference.



Item 9.01.   Financial Statements and Exhibits.



(d) Exhibits.




Exhibit No.       Description

   10.1             Offer Letter, dated November 9, 2019, by and between Gevo, Inc.
                  and L. Lynn Smull.











--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

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