Item 5.02Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 2, 2021, Westwater Resources, Inc. (the "Company") appointed Chad M.
Potter as the Company's Chief Operating Officer.
Mr. Potter, 46, joins the Company from American Consolidated Industries, Inc., a
producer of steel products, where he served as Chief Operating Officer and Vice
President of Operations from April 2019 to August 2021. Prior to his time at
American Consolidated Industries, Inc., Mr. Potter served in various roles at
Nucor Steel Corporation (NYSE: NUE), a producer of steel and related products,
from July 2004 to February 2019, including as Chief Executive Officer for
Nucor-JFE Steel Mexico, a joint venture between Nucor Steel Corporation and JFE
Steel Corporation, and as Division Controller of Nucor Steel Decatur, LLC.
Before joining Nucor Steel Corporation, Mr. Potter held various operations and
accounting roles at Hobart Corporation (2001-2004), Park Electrochemical
Corporation (NYSE: PKE) (1999-2001) and Hypercom (1995-1999). Mr. Potter holds
an M.B.A. from Morehead State University and earned his B.S. in Business from
Wright State University.
There are no family relationships between Mr. Potter and any of the Company's
directors or executive officers. There have been no related party transactions
involving Mr. Potter (or any of his immediate family members) required to be
disclosed pursuant to Item 404(a) of Regulation S-K.
Upon the commencement of his role as Chief Operating Officer, Mr. Potter will be
entitled to an annual base salary of $250,000. Mr. Potter will also be eligible
to participate in the Company's short-term incentive plan and long-term
incentive plan for cash and equity bonuses, respectively, each equal to 40% of
his annual base salary, subject in part to the achievement of certain
performance goals.
Mr. Potter was awarded restricted stock units with a grant date fair value of
$55,000, which vest on the second anniversary of Mr. Potter's start date,
subject to continued service with the Company.
Item 7.01Regulation FD Disclosure.
On August 2, 2021, the Company issued a press release announcing the appointment
of Mr. Potter as the Company's Chief Operating Officer. A copy of the press
release is furnished with this Form 8-K as Exhibit 99.1.
The information in this Item 7.01, including the press release, shall not be
deemed "filed" for purposes of Section 18 of the Securities Exchange Act of
1934, as amended, nor shall it be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, except as shall be expressly set
forth by reference to such filing.
Item 9.01Financial Statements and Exhibits.
(d)Exhibits.
Exhibit No. Description
99.1 Press release, dated August 2 , 2021 .
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