Company: CENN
Filing Date: 2025-12-31
Form Type: 8-K
Source: 0001140361-25-047061
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Company: Cenntro Inc.
Filing Date: 2025-12-31
Form: 8-K
Item: Item 5.02
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Item 5.02.      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain  

On December 22, 2025, Mr. Gang “ Gavin” Lin, the independent director of the Company notified the Board of Directors (the “ Board”) of Cenntro Inc., a
Nevada Corporation (the “ Company”) of his decision to resign his position as an independent director and a member of the Audit Committee of the Board, effective on December 23, 2025. Mr. Lin’s decision was made solely for personal reasons and not due
to any disagreement with the Company or the Board on any matter relating to the Company’s operations, policies, or practices.

To fill the vacancy created by Mr. Lin’s resignation until the Company’s next annual general meeting called for the election of directors, the Board
appointed Charles Athle Nelson to serve as an independent director and a member of the Audit Committee of the Board, effective on December 23, 2025.

Mr. Charles Athle Nelson has been active in the capital markets for the past 35 years. He began his financial career as a market representative with
American International Group and in 1979 joined Dean Witter Reynolds as a Financial Advisor, working with high net worth and institutional clients. In 1980, he joined Drexel Burnham and Lambert, and subsequently, at Ladenberg Thalmann and then at
Auerbach Pollack and Richardson originated equity and investment banking transactions. Over the last 20 years, Mr. Nelson has been involved with financing companies in the fintech, healthcare and bio-pharma spaces through private equity and public
financing including listings on the Nasdaq and the NYSE. Mr. Nelson holds a bachelor’s degree in arts from Villanova University and an MBA from Rutgers University.

There are no arrangements or understandings between Mr. Nelson and any other persons pursuant to which he was selected as a director, and there are no
related party transactions involving Mr. Nelson requiring disclosure pursuant to Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended. The Board has determined that Mr. Nelson is an “independent director” as defined
under Nasdaq Listing Rule 5605(a)(2).

The Company agrees to pay Mr. Nelson an annual compensation of US$25,000, payable in arrears, in equal installments quarterly. The director offer letter
also