Ascent Solar Technologies, Inc. 8-K

What Happened
Ascent Solar Technologies, Inc. announced on December 31, 2025 that it entered into new employment agreements with CEO Paul Warley, COO Bobby Gulati and CFO Jin Jo, effective January 1, 2026. The agreements replace prior contracts that expired on December 31, 2025 and set base salaries, bonus opportunity, severance and other standard benefits and protections.

Key Details

• Paul Warley (CEO): $450,000 annual base salary; discretionary annual bonus up to 150% of base if targets met. Termination without cause, change in control, or good-reason resignation triggers (i) 24 months of base salary, (ii) 12 months paid COBRA health coverage, and (iii) full acceleration of outstanding equity awards. Up to $30,000 moving allowance if relocating primary residence to Colorado; Company to purchase $1 million life insurance naming spouse beneficiary.
• Bobby Gulati (COO) and Jin Jo (CFO): each $255,000 annual base salary; discretionary annual bonus up to 100% of base if targets met. Termination without cause, change in control, or good-reason resignation triggers (i) 12 months of base salary, (ii) 12 months paid COBRA health coverage, and (iii) full acceleration of outstanding equity awards.
• All three executives are eligible for the Company’s equity incentive and standard benefit plans, must maintain confidentiality, and are subject to customary 12‑month non‑competition and non‑solicitation restrictions after termination.

Why It Matters
These agreements set near‑term compensation and potential severance liabilities that investors should note: higher bonus caps and severance protections can increase cash compensation and potential one‑time payments on termination or change in control. Full acceleration of equity awards upon certain terminations can affect share dilution and the timing of equity vesting. The non‑compete and confidentiality provisions aim to protect company IP and customer relationships.