NeoVolta Inc. 8-K

What Happened

• NeoVolta, Inc. filed an 8-K on May 14, 2026 announcing its financial results for the quarter ended March 31, 2026 (press release attached) and disclosing an executive change.
• The company announced Jing Nealis will become Chief Financial Officer effective May 18, 2026, succeeding Steve Bond, who will transition from the CFO role on that date. The Employment Agreement with Ms. Nealis is dated March 26, 2026.

Key Details

• New CFO compensation: annual base salary of $425,000 and a $35,417 sign‑on bonus (paid within 30 days of the effective date).
• Bonus & equity: target annual bonus equal to 80% of base salary (prorated for partial years); initial RSU grant of 1,000,000 shares (33% vest at 1 year, remaining 67% in eight quarterly installments thereafter); performance RSU (PSU) grant of 25,000 shares that vests if customer payments to NeoVolta Power LLC exceed $1,000,000.
• Change‑of‑control and severance: all unvested equity will accelerate on a Change of Control; if terminated without Cause (or resigns for Good Reason), Ms. Nealis gets accelerated vesting, nine months of base salary continuation and up to nine months of COBRA premium coverage (subject to release).
• Background: Ms. Nealis, 47, was CFO of SES AI Corporation (Mar 2021–Apr 2026) and held senior finance roles at View Inc., SunPower Systems International, Suntech and Deloitte.

Why It Matters

• Executive change: appointing an experienced renewable/clean‑energy finance executive as CFO is material for investors because it affects financial leadership and reporting continuity. Steve Bond is transitioning out of the CFO role effective May 18, 2026.
• Compensation and equity terms: the large initial RSU grant and performance PSU tie a significant portion of Ms. Nealis’s pay to future performance and retention, which could affect share dilution and executive incentives.
• Financial disclosure: the filing includes a press release with the company’s quarterly results; investors should review that press release (Exhibit 99.1) for the specific revenue, earnings, and operating metrics for the quarter ended March 31, 2026.