Company: CENN
Filing Date: 2025-06-27
Form Type: DEF 14A
Source: 0001140361-25-023970
Chunk: 33

Company: Cenntro Inc.
Filing Date: 2025-06-27
Form: DEF 14A
Chunk 33
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 not have any formal policy or practices that requires us to grant, or avoid granting, equity awards at particular times. Equity awards are discretionary and are periodically granted to our named executive officers upon approval of our Compensation Committee. We do not schedule the grant of our equity awards in anticipation of the release of material nonpublic information (“ MNPI”), nor do we time the release of MNPI based on actual or anticipated equity grant dates.Furthermore, we do not time the disclosure of MNPI for the purpose of affecting the value of executive compensation. Our Compensation Committee did not grant any stock options to our named executive officers during 2024. Our Compensation Committee did not take MNPI into account when determining the timing and terms of any equity awards granted during 2024. During 2024, no grants were made to any of our named executive officers in the period beginning four business days before (i) the filing of a Form 10-Q or Form 10-K, or (ii) the filing or furnishing of a Form 8-K that discloses MNPI, and ending one business day after the filing or furnishing of any such report. Agreements with Our Named Executive Officers Below are descriptions of the material terms of the employment agreements and offer letters with Cenntro’s Named Executive Officers. Employment Agreement with Peter Z. Wang On August 20, 2017, CAG entered into an employment agreement with Mr. Wang to serve as Chief Executive Officer of CAG. The initial term of the employment agreement expires on August 19, 2022 and is automatically renewed for successive one-year periods unless terminated by either party prior to the expiration of any extended term. The employment agreement provides that Mr. Wang is entitled to an annual base salary (which is currently $350,000). Mr. Wang is not entitled to any cash severance under his employment agreement. Mr. Wang’s employment agreement contains customary restrictions on competition, solicitation and the disclosure of confidential information. Employment Agreement with Edward Ye On March 1, 2024, the Board appointed Edward Ye, the corporate controller of the Company to serve as the Company’s acting CFO with annual compensation of US$91,555 to fill the vacancy created by Mr. Cheng effective as of March 1, 2024. Mr. Ye, age 34, is a seasoned financial executive who joined the Company in 2019 as Financial Director to the Company before becoming acting CFO. Prior to joining the Company, Mr. Ye was a Senior Associate at Deloitte Tou