Company: MYND
Filing Date: 2025-03-26
Form Type: 20-F
Source: 0001628280-25-014832
Chunk: 52

Company: Mynd.ai, Inc.
Filing Date: 2025-03-26
Form: 20-F
Item: Item 6
Chunk 52
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 the U. S. and approximately 249 of our employees were located outside of the U. S.

We believe we offer our employees competitive compensation packages and a merit-based work environment that encourages proactivity and responsibility, and, as a result, we have generally been able to attract and retain qualified personnel.

We believe that we maintain a good working relationship with our employees, and we have not experienced any major labor disputes. Other than a Works Council established for the benefit of our employees in Germany and except for a small number of employees located in France, none of our employees are represented by labor unions.

E. Share Ownership

For information regarding share ownership, please see Item 7. A below.

F. Disclosure of registrant’s action to recover erroneously awarded compensation

As set forth in greater detail in Note 2 to our consolidated financial statements, in connection with the preparation of the Company’s financial statements for the year ended December 31, 2024 included elsewhere in this Annual Report, we determined that we had previously understated certain expenses during the periods of 2019 through 2024. As a result of restating our financial statements for the years ended December 31, 2023 and 2022, we have determined that we erroneously awarded an aggregate of $ 193,959

Tab l e of contents

The Erroneously Awarded Compensation was paid out during the first quarter of 2024 and was based (a) 50% on the Company’s achievement of certain targeted revenues and (b) 50% based on the Company’s achievement of certain targeted Adjusted EBITDA under the Company’s historical International Financial Reporting Standards (“ IFRS”) reporting standard. By virtue of the accounting restatement, we have determined that while our revenues remain unchanged, our Adjusted EBITDA for the year ended December 31, 2023 was lower than originally calculated, resulting in the Erroneously Awarded Compensation.

As of December 31, 2024, the full amount of the Erroneously Award Compensation remained outstanding. In accordance with our Clawback Policy, we have since recouped substantially all of the Erroneously Awarded Compensation from the recipients by cancelling 201,655 183,515 94.5

Pursuant to the terms of the Company’s Clawback Policy, we determined that the Company was not required to recoup any compensation received by its executive officer for any fiscal year prior to the year ended December 31, 2023.

ITEM 7