Microvast Holdings announced that Chief Accounting Officer Lu Gao will resign for personal reasons, effective January 31, 2025. Gao will remain with the company during a transition period, with her departure unrelated to any disagreements on company operations or policies.The Board approved significant compensation adjustments for key executives on December 5, 2024. CEO Yang Wu's base salary increased to $564,480, President and General Counsel Isida Tushe's to $450,000, and COO Dr. Shengxian Wu's to $400,000. Additionally, Tushe and Dr. Wu received one-time cash bonuses of $125,000 and $93,750 respectively.The compensation package includes equity awards: CEO Wu received 500,000 fully-vested RSUs, while Tushe and Dr. Wu each received 1,000,000 stock options at $1.29 exercise price, vesting equally over 2025-2027. These awards are subject to continued employment and specific termination conditions under the 2021 Equity Incentive Plan.

Microvast Holdings announced that Chief Accounting Officer Lu Gao will resign for personal reasons, effective January 31, 2025. Gao will remain with the company during a transition period, with her departure unrelated to any disagreements on company operations or policies.The Board approved significant compensation adjustments for key executives on December 5, 2024. CEO Yang Wu's base salary increased to $564,480, President and General Counsel Isida Tushe's to $450,000, and COO Dr. Shengxian Wu's to $400,000. Additionally, Tushe and Dr. Wu received one-time cash bonuses of $125,000 and $93,750 respectively.The compensation package includes equity awards: CEO Wu received 500,000 fully-vested RSUs, while Tushe and Dr. Wu each received 1,000,000 stock options at $1.29 exercise price, vesting equally over 2025-2027. These awards are subject to continued employment and specific termination conditions under the 2021 Equity Incentive Plan.