Company: FEAV
Filing Date: 2025-03-05
Form Type: 8-K
Source: 0000950170-25-033824
Chunk: 2

Company: 5E Advanced Materials, Inc.
Filing Date: 2025-03-05
Form: 8-K
Item: Item 5.02
Chunk 2
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On the Exchange Effective Date, Paul Weibel notified the Company of his resignation from the Board of Directors of the Company (the “ Board”), effective on such date. Mr. Weibel will continue to serve as the Company’s Chief Executive Officer.

On the Exchange Effective Date, the Board appointed Curtis L. Hebert, Jr., as a director, effective immediately, to serve for a term expiring at the Company’s next annual meeting of stockholders and until his successor is duly elected and qualified or until his earlier death, resignation, disqualification or removal. Mr. Hebert was designated for appointment to the Company’s Board by Bluescape pursuant to the terms of the Fourth Amended and Restated Investor and Registration Rights Agreement, dated January 14, 2025, by and among the Company, Bluescape and Ascend, which provide each of Bluescape and Ascend the right to designate two directors to serve on the Company’s Board following the consummation of the Transactions for so long as each such party beneficially owns 25% of the Company’s common stock, and one director to serve on the Company's Board for so long as each such party beneficially owns 10% of the Company's common stock. Bluescape has also designated Graham van’t Hoff to continue to serve as its second designee on our Board, and Ascend has designated Barry Dick and Bryn Jones to continue to serve on our Board as its designees.

Mr. Hebert is eligible to participate in the Company’s Non-Employee Director Compensation Policy. Under the Policy, Mr. Hebert is eligible to receive an annual cash retainer of $50,000, earned on a quarterly basis based on a calendar quarter and paid in arrears not later than the fifteenth day following the end of each calendar quarter (prorated for the portion of the calendar quarter he actually served as a Non-Employee Director). Mr. Hebert is also eligible to receive a grant of restricted stock units (“ RSUs”) on the last day of each calendar quarter on which he is serving as a director, with value equal to the annual cash retainer divided by four, subject to any stockholder approvals required, with the number of RSUs determined by dividing the cash value by the average closing price of the Company’s common stock during the applicable calendar quarter (inclusive of the first and last day of such