Corporate GovernanceJul 1, 2026, 04:07 PM
Velo3D Grants CEO Performance Stock Option for 964,474 Shares
AI Summary
Velo3D's Compensation Committee granted CEO Arun Jeldi a performance-based stock option for 964,474 shares, exercisable at $18.40. The award vests upon achieving market capitalization milestones of $1 billion, $3 billion, $5 billion, and $10 billion within five years, contingent on Mr. Jeldi's continued service. Additionally, the company entered into Change in Control Agreements with the CEO, CFO, and CRO, providing severance benefits including a lump sum payment, accelerated equity vesting, and medical benefits under specific termination conditions following a change in control.
Key Highlights
- CEO Arun Jeldi granted performance-based stock option for 964,474 shares.
- Option exercise price set at $18.40, the closing price on grant date.
- Vesting tied to market capitalization milestones within five years.
- 10% vests at $1 billion market capitalization.
- Additional 20% vests at $3 billion market capitalization.
- Additional 30% vests at $5 billion market capitalization.
- Final 40% vests at $10 billion market capitalization.
- Change in Control Agreements signed with CEO, CFO, and CRO.
Price Impact
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