Corporate GovernanceApr 29, 2026, 10:31 AM
NRDE Details New Board, CEO, Compensation Post-Bankruptcy
AI Summary
NU RIDE INC. filed an Amendment No. 1 to its Form 10-K, providing detailed information on its corporate governance, executive compensation, and security ownership following its emergence from Chapter 11 bankruptcy on March 14, 2024. The filing outlines the appointment of a new board of directors and Alexander C. Matina as CEO, President, Treasurer, and Secretary effective September 26, 2025. It also details compensation for executive officers and non-employee directors for 2025, along with significant shareholder information and related party transactions.
Key Highlights
- NU RIDE INC. emerged from Chapter 11 bankruptcy on March 14, 2024, with a new board.
- Alexander C. Matina appointed CEO, President, Treasurer, and Secretary effective September 26, 2025.
- CEO Alexander Matina's 2025 total compensation was $227,181; annual base salary set at $415,000.
- Former CEO William Gallagher's 2025 compensation was $261,096 via M3 Partners.
- Non-employee directors received cash and stock awards; Chairman Andrew Sole received $384,082 in 2025.
- Hon Hai Precision Industry Co., Ltd. holds 15.5% beneficial ownership of Class A common stock.
- Company incurred $0.9 million in fees to M3 Partners in 2025 for executive support services.
- BDO USA, P.C. appointed as independent registered public accounting firm effective April 17, 2024.