Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective as of January 5, 2023, the Board of Directors (the "Board") of Gevo,
Inc. ("Gevo" or the "Company") approved the appointment of Carol J. Battershell
to the Board as a Class III director, with a current term that will expire at
the annual meeting of stockholders to be held in 2025. Ms. Battershell will
receive an annual cash retainer of $85,000 and an equity grant valued at $52,000
for service as a non-employee director, subject to the Company's compensation
policy for non-employee directors as specified from time to time by the Board.
The equity award will be made pursuant to the Company's Amended and Restated
2010 Stock Incentive Plan. Ms. Battershell will also be eligible to receive
annual grants of equity and other compensation consistent with the Company's
compensation policy for her service as a non-employee director, as specified
from time to time by the Board. Ms. Battershell also entered into the Company's
customary form of indemnification agreement upon her appointment to the Board.
There are no understandings or arrangements with any person pursuant to which
Ms. Battershell was selected as a director, and Ms. Battershell is not party to
any related party transaction required to be reported pursuant to Item 404(a) of
Regulation S-K.
The Board considered the independence of Ms. Battershell under The Nasdaq Stock
Market LLC ("Nasdaq") listing standards and concluded that Ms. Battershell is an
independent director under the applicable Nasdaq standards.
Item 7.01. Regulation FD.
The Company issued the press release attached hereto as Exhibit 99.1 in
connection with the appointment of Ms. Battershell to the Board.
The information included in this Current Report under Item 7.01, including
Exhibit 99.1, is deemed to be "furnished" and shall not be "filed" for purposes
of Section 18 of the Exchange Act, or otherwise subject to the liabilities of
that section, and is not incorporated by reference into any filing under the
Securities Act or the Exchange Act.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press Release , dated January 5 , 202 3
104 Cover Page Interactive Data File (Formatted as Inline XBRL)
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses