Company: VLDXW
Filing Date: 2025-01-10
Form Type: 8-K
Source: 0001493152-25-001591
Chunk: 3

Company: Velo3D, Inc.
Filing Date: 2025-01-10
Form: 8-K
Item: Item 3.02
Chunk 3
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Item
3.02 Unregistered Sales of Equity Securities.

The
information included in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03 of this Current
Report on Form 8-K.

Item
5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.

Offer
Letter with Chief Executive Officer

As
previously disclosed, on December 24, 2025 the Board of Directors of the Company (the “ Board”) appointed Arun Jeldi to serve
as Chief Executive Officer of the Company. In connection with his appointment as Chief Executive Officer, Mr. Jeldi entered into an offer
letter dated January 8, 2025 (the “ Offer Letter”) with the Company. Pursuant to the terms of the offer letter, Mr. Jeldi
will receive an annual base salary of $425,000 and his target bonus for fiscal 2025 will be 80% of his base salary.

The
Offer Letter provides for a term that is at-will, with termination at the election of either party.

The
Offer Letter also contains customary restrictive covenants in favor of the Company relating to confidentiality and non-competition.

The
foregoing descriptions of the Offer Letter does not purport to be complete and is qualified in its entirety by the full text of the Offer
Letter, a copy of which is filed as exhibit 10.3 to this Current Report on Form 8-K and incorporated herein by reference.

Approval
of Chief Operating Officer Salary

On
January 7, 2025, the Board approved an annual base salary of $400,000 for Bradley Kreger, the Company’s Chief Operating Officer.

Item
9.01. Financial Statements and Exhibits.

(d)
Exhibits.

  Exhibit      Description                                                                                              
                                                                                                                        
   Number                                                                                                               
     10.1      Senior Secured Convertible Promissory Note, dated as of January 7, 2025                                  
     10.2      Secured Guaranty, dated as of January 7, 2025, by Velo3D US, Inc. in favor of Thieneman Properties, LLC  
     10.3      Offer Letter, dated as of January 8, 2025, by and between Velo3D, Inc. and Arun Jeldi                    
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