# EDGAR Filing Document

**Accession Number:** 0000895419
**File Stem:** 0001193125-25-155874
**Filing Date:** 2025-7
**Character Count:** 48398
**Document Hash:** f5d7696e05930c44f0f79a1538d579f3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-155874.hdr.sgml**: 20250707

**ACCESSION NUMBER**: 0001193125-25-155874

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 19

**CONFORMED PERIOD OF REPORT**: 20250706

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250707

**DATE AS OF CHANGE**: 20250707

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WOLFSPEED, INC.
- **CENTRAL INDEX KEY:** 0000895419
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 561572719
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 0629

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40863
- **FILM NUMBER:** 251107035

**BUSINESS ADDRESS:**
- **STREET 1:** 4600 SILICON DR
- **CITY:** DURHAM
- **STATE:** NC
- **ZIP:** 27703
- **BUSINESS PHONE:** 9194075300

**MAIL ADDRESS:**
- **STREET 1:** 4600 SILICON DR
- **CITY:** DURHAM
- **STATE:** NC
- **ZIP:** 27703-8475

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CREE, INC.
- **DATE OF NAME CHANGE:** 20190808

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CREE INC
- **DATE OF NAME CHANGE:** 20000103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CREE RESEARCH INC /NC/
- **DATE OF NAME CHANGE:** 19940224

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 OR 15(d) of

#### The Securities Exchange Act of 1934

#### Date of Report (Date of Earliest Event Reported): July 6, 2025

## WOLFSPEED, INC.

#### (Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **North Carolina** | **001-40863** | **56-1572719** |
| **(State or other jurisdiction of**<br> **incorporation)** | **(Commission**<br> **File Number)** | **(I.R.S. Employer**<br> **Identification Number)** |

---

---

| | |
|:---|:---|
| **4600 Silicon Drive** |  |
| **Durham North Carolina** | **27703** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

(919) 407-5300

#### Registrant's telephone number, including area code

#### N/A

#### (Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

#### Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol** | **Name of each exchange**<br> **on which registered** |
| Common Stock, $0.00125 par value | WOLF | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

---

| | |
|:---|:---|
| **Item 5.02** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**  |

---

#### Appointment of Chief Financial Officer and Executive Vice President
On July 7, 2025, Wolfspeed, Inc. (the "Company") announced the appointment of Gregor van Issum to serve as the Company's Chief Financial Officer ("CFO") and Executive Vice President ("EVP"). Mr. van Issum's appointment was approved as of July 6, 2025 with his employment with the Company as CFO and EVP to become effective as of September 1, 2025 (such date, the "Commencement Date").

Mr. van Issum will succeed Kevin Speirits, who has been serving in an interim role as the Company's Chief Financial Officer since May 2025. Mr. Speirits will resume his previous position as Senior Vice President, Finance of the Company, beginning on the Commencement Date and will support Mr. van Issum during a transition period.

Mr. van Issum, age 46, has served as EVP, Group Controller and Chief Transformation and Performance Officer at ams-OSRAM AG (SIX: AMS), a light and sensor developer and producer and semiconductor manufacturer, and a member of the company's Executive Committee, since June 2020. He also served as Senior Vice President and Head of F&A at ams-OSRAM AG from March 2018 to June 2020. Mr. van Issum previously held various roles at NXP Semiconductors GmbH (Nasdaq: NXPI) from 2007 to 2018. He began his career at Royal Philips in 2002. Mr. van Issum holds a masters degree in Information Economics from Tilburg University in Tilburg, the Netherlands, and a degree in Executive Master of Finance and Control at the University of Maastricht in Maastricht, the Netherlands.

In his position as CFO and EVP, Mr. van Issum will report to the Company's Chief Executive Officer.

There was no arrangement or understanding between Mr. van Issum and any other person(s) pursuant to which he was selected to serve as CFO and EVP of the Company, and Mr. van Issum does not have any family relationships with any of the Company's executive officers or directors. Mr. van Issum is not a party to any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

#### Description of Compensation and Employment Terms with CFO and EVP
*Base Salary, Cash Incentive Compensation, and Other Benefits* 

In connection with his appointment, Wolfspeed Europe GmbH, a subsidiary of the Company, and Mr. van Issum entered into an employment agreement (the "Employment Agreement") providing for an annual base salary of $500,000. Mr. van Issum will be eligible to receive an annual performance bonus, with a target achievement of 75% of Mr. van Issum's then-current base salary. Payment of any such annual performance bonus will be based on the achievement of performance goals to be established by the Board or the Compensation Committee of the Board and pro-rated for any partial year of service.

------

Mr. van Issum will receive a cash sign-on bonus of $450,000 (the "Sign-on Bonus"), to be paid with the first regularly scheduled payroll following the Commencement Date. The Sign-On Bonus will be forfeited if Mr. van Issum voluntarily resigns (not caused by the Company's fault) or if the Company issues an ordinary or extraordinary termination for reasons of Mr. van Issum's conduct within 12 months of the Commencement Date. In such event, Mr. van Issum will be responsible to reimburse the Company for all of the expenses that the Company paid in relation to the Sign-On Bonus.

The Company will reimburse Mr. van Issum up to $150,000 for expenses incurred in connection with his relocation to the Durham, North Carolina area, grossed up for income and withholding taxes based on the marginal tax rate applicable to compensation disbursed at the time of payment.

Mr. van Issum is also entitled to participate in certain benefit plans of the Company and to paid time-off and such other benefits in accordance with the Company's policy for similarly situated senior management, as well as to be reimbursed for all reasonable business expenses incurred in connection with his services to the Company.

In connection with his appointment, Mr. van Issum will enter into the Company's standard form of indemnification agreement for directors and officers, a copy of which is filed as [Exhibit 10.1](http://www.sec.gov/Archives/edgar/data/895419/000089541910000063/exhibit10_1.htm) to the Company's Current Report on Form 8-K, dated October 25, 2010, as filed with the Securities and Exchange Commission (the "SEC") on October 29, 2010, and is incorporated herein by reference. As a condition of employment, Mr. van Issum must also enter into and abide by the terms of the Company's standard form of employee agreement regarding confidential information and intellectual property.

*Long-Term Incentive* 

As an inducement for Mr. van Issum to commence employment with the Company, the Company has agreed to grant to Mr. van Issum as soon as administratively practicable on or after the Commencement Date an award of restricted stock units ("RSUs") equal to $3,000,000, with one-fourth of the RSUs vesting on each of the first four anniversaries of the first day of the month following the Commencement Date.

In addition, the Company has agreed to grant the following annual equity awards to Mr. van Issum beginning as soon as administratively practicable on or after the Commencement Date:

(i) an award of RSUs equal to $800,000, with one-fourth of the RSUs vesting on each of the first four anniversaries of September 1, 2025; and

(ii) an award of performance stock units ("PSUs") equal to $1,200,000. Each PSU will constitute the right to be issued up to two shares of the Company's common stock upon vesting. The initial PSUs will vest on September 1, 2028 with the number of shares to be issued per PSU based on achievement of total stockholder return relative to a peer group.

------

*Termination* 

The Employment Agreement sets forth the obligations of the Company and Mr. van Issum in connection with a termination of Mr. van Issum's employment. The Employment Agreement may be terminated by either party without cause provided that the terminating party has given written notice at least three months prior to the end of a calendar month, unless applicable law calls for a longer period. Each party may terminate the employment without notice for cause.

Mr. van Issum will be eligible to participate in the Wolfspeed Severance Plan - Senior Leadership Team (the "SLT Plan"). The terms of the SLT Plan are described in the Company's [Definitive Proxy Statement](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0000895419/000089541924000078/wolf-20241017.htm) filed with the SEC on October 17, 2024 under the heading "Executive Compensation—Potential Payments upon Termination or Change in Control," which description is incorporated herein by reference.

The foregoing description of the Employment Agreement is not meant to be complete and is qualified in its entirety by reference to the Employment Agreement, which is included as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure.**  |

---

On July 7, 2025, the Company issued a press release announcing the appointment of Mr. van Issum as described in Item 5.02 above. A copy of the press release is furnished hereto as Exhibit 99.1 and incorporated into this Item 7.01 by reference.

The information in this Item 7.01, including the accompanying Exhibit 99.1, shall not be deemed "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that Section. Furthermore, the information in this Item 7.01 shall not be deemed incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.**  |

---

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit<br>No.** | **Description of Exhibit** |
| 10.1 | [Employment Agreement, dated July 6, 2025, between Wolfspeed Europe GmbH and Gregor van Issum](d98517dex101.htm) |
| 99.1 | [Press release dated July 7, 2025](d98517dex991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

#### SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| **WOLFSPEED, INC.** | **WOLFSPEED, INC.** |
| By: | /s/ Melissa Garrett |
|  | Melissa Garrett |
|  | Senior Vice President and General Counsel |

---

Date: July 7, 2025

## Exhibit 10.1

**Exhibit 10.1**![LOGO](g98517g0706005449466.jpg)

![LOGO](g98517dsp1.jpg)

**<u>PRIVATE & CONFIDENTIAL</u>**

Gregor van Issum

[\*\*\*]

[\*\*\*]

The Netherlands

Dear Gregor:

It is our pleasure to extend you an offer of employment by Wolfspeed Europe GmbH (the "Company"), a subsidiary of Wolfspeed, Inc. ("Wolfspeed"), as a **Chief Financial Offer and Executive Vice President**for Wolfspeed, subject to the terms and conditions of this employment contract.

You will report to **Robert Feurle – Chief Executive Officer** (or such other person as the Company may from time to time designate), and you will perform such work as your manager may assign or delegate to you from time to time. In general, your duties include, but are not limited to, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Top executive responsible for overseeing the global financial strategy and organization of an independent
corporation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Works with senior executives and the Board of Directors to establish financial and strategic goals for the
company, and financial and investing strategies to meet specific business objectives, and legal, regulatory and securities reporting requirements

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Responsibilities include long-range financial planning and policies, accounting practices and procedures and the
company's relationship with the financial and shareholder communities

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Oversees all aspects of financial planning and reporting, including the controller function, accounting,
treasury, and tax on a global basis to ensure compliance with financial reporting standards, shareholder requirements and regulatory requirements

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• May also direct the functions of business planning, legal, human resources, and/or information systems.

We reserve the right to assign other or additional reasonable and at least equivalent tasks to you without changing your remuneration and in accordance with your knowledge and skills. You will not have the authority to bind the Company in any way or to enter any contracts or commitments on its behalf in writing or otherwise without specific additional written authority from the Company.

Your employment and this agreement shall be governed by German law. The terms and conditions of your employment are as follows:

<u>1.</u> <u>Parties</u> 

This contract is concluded between Wolfspeed Europe GmbH, Einsteinstraße 12, 85716 Unterschleißheim, Germany, further called "the Company",

And

Gregor van Issum, [\*\*\*], [\*\*\*], The Netherlands, further called "Employee".

---

| | |
|:---|:---|
| 4600 Silicon Drive<br> Durham, NC 27703 USA<br> Main: (919) 313-5300 | ![LOGO](g98517g0706005449750.jpg) |

---

------

![LOGO](g98517g0706005449466.jpg)

![LOGO](g98517dsp1.jpg)

<u>2.</u> <u>Commencement Date</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. Your commencement date will be 1 September 2025, provided that you and the Company have completed any
mandatory prerequisites to your employment by such date. Both parties will proceed diligently to complete such prerequisites by 1 September 2025, provided that the Company, in its sole option, may delay the commencement date if all
prerequisites are not timely completed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. This offer is subject to your demonstrating to the Company's satisfaction that you are not bound by the
terms of any agreement with any entity in any capacity (including as an employee, independent contractor or stockholder) that might prohibit or materially limit your employment by the Company in the aforementioned position. You will promptly provide
copies of any non-competition agreements that you have signed.

<u>3.</u> <u>Compensation</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. <u>Annual Base Pay</u> 

Your starting gross annual basic salary for all your services rendered will be €435,000.00 gross, payable in monthly installments (pro-rated for any partial month). Your base salary will be paid at the end of each calendar month.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. <u>Incentive Pay</u> 

You will be eligible to participate in the Wolfspeed Bonus Plan with a target award of 75% of your base salary, which is prorated for time in plan for the current FY. The payout of this plan will be based on the Company meeting its established financial goals and other factors which may include job grade, full-time/part-time status, and/or individual performance. All bonus payments and calculations are subject to the terms of the formal plan document and management discretion, with the ability to overperform and receive a higher bonus in line with the applicable policy and guidelines in place and approved by the Board at that time. The bonus is due as soon as the Company is able to determine the relevant degree of target achievement. This is typically the case in October at the latest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 <u>Sign-on Bonus</u> 

As an incentive to join Wolfspeed, you will receive the amount of €391,500.00 gross. This payment will be made in your first paycheck.

The Sign-On Bonus will be forfeited if you voluntarily resign (not caused by the Company's fault) or if the Company issues an ordinary or extraordinary termination for reasons of your conduct within twelve (12) months of your start date. In such event, you will be responsible to pay back to the Company all (100%) of the expenses that the Company paid in relation to your Sign-On Bonus.

![LOGO](g98517g0706005450151.jpg)

------

![LOGO](g98517g0706005449466.jpg)

![LOGO](g98517dsp1.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | USD |  | | Euros | Euros |
|  | $500000.00 | Base Salary |  | € | 435000.00 |
| 75% | $375000.00 | Target Bonus |  | € | 326250.00 |
|  | $**875000.00** | Total Cash Target |  | **€** | **761250.00** |
|  | $450000.00 | Sign-on cash bonus |  | € | 391500.00 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.87 |  |  |
|  |  |  | conversion rate | conversion rate | conversion rate |

---

The above-mentioned payments shall be made non-cash to a bank account you specify.

<u>4.</u> <u>Hours of Work</u> 

Subject to the Company's policies and the working requirements of your position from time to time, the Company's usual working hours are 40 hours per week, Monday to Friday. Due to the international nature of the Company's business, from time to time it will be necessary for you to work on weekends and during evening hours as permitted under German law. The rest periods and rest breaks regulated in the Working Hours Act shall apply, the timing of which you are free to determine, taking into account operational needs and the legal requirements of the Working Hours Act. You are obliged to work overtime, at the request of the respective supervisor, in compliance with the applicable statutory provisions if this is required for business reasons. Any overtime work shall be deemed compensated by the incentive pay you are eligible to.

<u>5.</u> <u>Place of Work; Travel Requirement; Travel Expenses.</u> 

You will be assigned to work at the Company's Munich area office (Einsteinstrasse 12, 85716 Unterschleißheim). In addition, we anticipate that to the extent required, but not habitually, you may work from time to time from Wolfspeed's headquarters in Durham, North Carolina, USA. From time to time the Company may also require you to carry out your duties at other locations, none of which travel shall incur or require additional compensation. Travel expenses will be reimbursed in accordance with Company policy. We reserve the right to transfer you to another place of work, at reasonable discretion, taking into account your interests, if this is necessary for business reasons.

<u>6.</u> <u>Relocation</u> 

You will work from the Munich, German office initially. Upon receipt of a valid work Visa, the parties agree that you will relocate to North Carolina, United States as soon as practicable. In order to facilitate these moves, you will be provided with relocation benefits per the Relocation Agreement **Annex E** of this contract.

<u>7.</u> <u>Vacations and Holidays</u> 

You will be entitled to thirty (30) business days paid leave each calendar year (prorated for any partial year). A business day for this purpose excludes Saturdays, Sundays and Public Holidays. Such annual vacation is comprised as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 20 working days of statutory minimum vacations plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 10 working days of contractually agreed additional vacation.

![LOGO](g98517g0706005450151.jpg)

------

![LOGO](g98517g0706005449466.jpg)

![LOGO](g98517dsp1.jpg)

Contractual vacation may only be taken if statutory vacation has been taken in full. You must apply for the vacation in good time in the calendar year. The Company shall grant the leave at the time requested by you if this does not conflict with operational concerns or the leave requests of other employees. The statutory minimum vacation and the contractual additional leave must be taken in the respective calendar year. The statutory provisions apply to the forfeiture of the statutory minimum vacation. Contractual additional leave is forfeited if it is not taken by December 31 of the respective calendar year. The forfeiture shall take place irrespective of whether the Company had requested that the additional contractual vacation be taken or whether the Company had separately explained the possibility of forfeiture. Upon termination of the employment relationship, only the remaining minimum statutory vacation shall be compensated. Remaining contractual vacation shall lapse.

Scheduling of paid leave is subject to approval by your manager in advance. You also will be entitled to the number of paid public holidays in the state of Bavaria.

<u>8.</u> <u>Annual Salary Review</u> 

The Company regularly reviews salaries for employees on an annual basis for employees who have completed at least five (5) months of service as of such review date. Salary increases are awarded in the Company's absolute discretion and are based, in part, upon your responsibilities and position in the Company and the Company's assessment of your performance, including your general conduct at work and your attendance record throughout the year.

<u>9.</u> <u>Code of Conduct and Disciplinary Procedures</u> 

You will be required to sign a Certificate of Acknowledgment regarding the Wolfspeed Code of Conduct (**Annex B**) during your onboarding with the Company, which collectively form an integral part of this Employment Contract. The Code of Conduct describes the commitment of Wolfspeed and its related entities to lawful and ethical conduct in all of their business affairs, along with each employee's obligation to observe the code to the maximum extent, subject to applicable law.

<u>10.</u> <u>Confidentiality</u> 

You are required to sign the attached Employee Agreement Regarding Confidential Information and Intellectual Property ("Employee Agreement"), which forms an integral part of this Employment Contract, before your first day of work. A copy is attached as **Annex C** for your review. You will also be required to read and sign the attached Memorandum Concerning Protection of Confidential Information **(Annex D)**, which states the Company's policy against your disclosure or use of confidential information and trade secrets of any of your previous employers. All such policies and the Code of Conduct are binding to the maximum extent permitted by applicable law.

Upon termination of your employment, or upon request in the case of extended paid leave or absence or suspension, you shall: (a) immediately deliver to the Company any Confidential Information within your possession; (b) if such information is contained within any data processing apparatus owned by you, delete such information and demonstrate such deletion to the Company; (c) if such information is recorded in physical media (e.g., a diary), deliver that media (by whomever owned) to the Company for deletion/removal of such information; and (d) complete such declaration as may be reasonably required by the Company to confirm your compliance with the requirements under this clause.

<u>11.</u> <u>Inability to Perform Duties</u> 

You are obliged to inform your supervisor or the Company's Human Resources Department without undue delay of any inability to perform your duties and the expected duration. Upon request, you shall inform the Company of the reasons for such absence.

![LOGO](g98517g0706005450151.jpg)

------

![LOGO](g98517g0706005449466.jpg)

![LOGO](g98517dsp1.jpg)

In case of sickness lasting longer than three calendar days, you are obliged to obtain a medical certificate on your incapacity for work and its prospective duration not later than on the following working day. The Company is entitled to demand an earlier submission of the medical certificate. If your absence continues longer than indicated in the medical certificate, you are obliged to submit a new medical certificate within three days after the end of the certified period of your incapacity for work. In this case, too, you are obliged to inform the Company without undue delay of the continuation of the indicated absence due to your incapacity for work. The notification may be given by telephone call. If you are not a member of the statutory health insurance or if your doctor is not a member of the Association of Statutory Health Insurance Physicians, you are obliged to provide the Company with the medical certificate of incapacity for work and its expected duration at the above-mentioned times.

If you have compensation claims against third parties due to the loss of your earnings, caused by the incapacity for work, you shall assign such claims to the Company in the amount of the continued payment of salary.

<u>12.</u> <u>Other Activities</u> 

You shall devote your full working time and capacity to the Company's business. For the term of this Employment Contract, all other activities for remuneration as well as activities that would normally be remunerated, including any part-time work or self-employed work, are prohibited unless the Company has explicitly given its prior written consent. The Company will grant such consent if business interests/concerns are not affected by the activities.

<u>13.</u> <u>Applicability of Additional Terms</u> 

If nothing to the contrary is stated in this Employment Contract, the policies, rules, procedures and regulations applicable at the Company or an affiliate of the Company in force from time to time shall apply to the employment relationship. The current policies, rules, procedures and regulations can be found at the platform 'accessHR'. From time to time, you will be advised of other rules, procedures and regulations relating to the Company's operations and the manner in which you will be required to perform your responsibilities. These may be advised to you by way of internal memo or circular or drawn to your attention by your supervisors. The contents of such documents and communications form part of the terms and conditions of your employment.

As used herein, "affiliate" of the Company means an entity that controls, is controlled by, or is under common control with the Company, where "control" means ownership of a majority of the outstanding capital stock or other equity interests with voting rights with respect to the election of the board of directors or similar governing authority of the controlled entity.

<u>14.</u> <u>Alterations, Termination, Release from Work</u> 

This employment contract constitutes the written terms and conditions governing your employment with the Company. To the fullest extent permitted by German law, the Company may unilaterally change these terms and conditions, and in such event, you will be notified of any changes. Neither this employment contract nor the Employee Agreement constitutes a commitment by the Company to employ you for any specific term.

The employment contract may be terminated by either party without cause provided that the terminating party has given written notice at least three (3) months prior to the end of a calendar month, unless applicable law calls for a longer period. Each party may terminate the employment without notice for cause. Notice of termination must be given in writing.

![LOGO](g98517g0706005450151.jpg)

------

![LOGO](g98517g0706005449466.jpg)

![LOGO](g98517dsp1.jpg)

You may file a claim before the competent local labour court for protection against unfair dismissal within three weeks after receipt of the notice of termination according to Secc. 4, 5, 7 of the German Protection against Dismissal Act ("Kündigungsschutzgesetz").

If one of the parties has given notice of termination, the Company is entitled to revocably or irrevocably release you from your obligation to work at any time until the end of the notice period while continuing to pay the contractual remuneration. The right to such release will exist, in particular, if, for business and/or organizational reasons, your position has become redundant, if the relationship of trust has been disturbed, to protect other employees, to protect customer relations as well as for reasons of protecting and securing operational and business secrets and other confidential company matters. Any vacation claims still open at the time you leave the Company shall be deemed to be compensated by such period of irrevocable release. The open vacation shall begin as of the first day after the release and continue without interruption. After the vacation, any earnings you receive due to other employment of your labour and any salary you maliciously refrain from earning shall be set off against your salary. You must inform the Company, at your own initiative, about any remuneration you obtain apart from the salary you receive from the Company under your Employment Contract. This duty to inform also includes the amount of the remuneration. If the Company so requires, you must provide corresponding evidence by presenting auditable records.

<u>15.</u> <u>Choice of Law; Jurisdiction and Language</u> 

This employment contract shall be governed by German law. Any dispute between you and the Company that cannot be resolved amicably shall be subject to the exclusive jurisdiction of the competent courts in Germany. This letter is prepared and agreed in the English language, in the event that an official translation is required for any purpose and in the event any inconsistency occurs, the English version shall control for all purposes.

<u>16.</u> <u>Final Provisions/Cut off clause/Written Form Clause</u> 

This Agreement represents the entire agreement and understanding of the parties. The parties have not concluded any other oral or written agreements.

If a provision of this Agreement is or becomes wholly or partially invalid, the validity of the remaining provisions of this Agreement shall not be affected.

All claims of you and of the Company arising from this Employment Contract and relating to this Employment Contract or its termination shall be forfeited unless they are asserted within **three months** after they have become due in writing vis-à-vis the Company or you, **text form** shall suffice for such assertion. In case the asserted claims should be rejected by the respective other party in text form, or in case of the respective other party's failure to act on the assertion within **two weeks** in text form, the claims must be asserted in court within another three months after rejection or the lapse of the two weeks-period. After the lapse of the specified time limits, the claims shall be **forfeited**. The aforementioned exclusion clauses shall not apply to non-forfeitable claims including entitlements to the statutory minimum wage, liability due to intention and gross negligence and liability for damage from injury to life, body or health.

If these employment terms are satisfactory to you, please indicate your acceptance by electronically signing below. We look forward to working with you and anticipate that you will make a significant contribution to the growth of the Company and its affiliates.

![LOGO](g98517g0706005450151.jpg)

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![LOGO](g98517g0706005449466.jpg)

![LOGO](g98517dsp1.jpg)

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| | |
|:---|:---|
| Yours sincerely, |  |
| For and on behalf of |  |
| WOLFSPEED EUROPE GMBH | Confirmed and accepted by: |
| /s/ Robert Feurle | /s/ Gregor van Issum |
| Robert Feurle | Gregor van Issum |
| Date: <u>July 6, 2025</u> | Date: <u>6<sup>th</sup> of July 2025</u> |

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**Documents for Reference:** 

Annex A – Code of Conduct

Annex B – Code of Conduct Certificate of Acknowledgement

Annex C – Employee Agreement Regarding Confidential Information and Intellectual Property

Annex D – Memorandum Regarding Protection of Confidential Information

Annex E – Relocation Agreement

Firm Name: **Wolfspeed Europe GmbH**

Registration: Munich HRB 180803

![LOGO](g98517g0706005450151.jpg)

## Exhibit 99.1

**Exhibit 99.1**![LOGO](g98517g0706235151834.jpg)

**Transformation and Strategic Financing Expert, Gregor van Issum,** 

**Appointed Chief Financial Officer at Wolfspeed** 

*Former NXP Semiconductors and ams-OSRAM Leader Has Over 20 Years of Experience Navigating Dynamic Business Cycles* 

*Appointment Bolsters Wolfspeed's Leadership as It Drives Toward Profitability and Expands in High-Growth Markets* 

***DURHAM, N.C.*** *July 7, 2025 —* Wolfspeed, Inc. (NYSE: WOLF) ("Wolfspeed" or the "Company") today announced the appointment of Gregor van Issum as Chief Financial Officer (CFO), effective September 1, 2025, following a comprehensive review of internal and external candidates. Van Issum succeeds Kevin Speirits, who is serving as Interim Chief Financial Officer and will remain with Wolfspeed to support the Company and ensure a smooth transition. He will be relocating to North Carlina and be based at company headquarters in Durham, NC, reporting to Wolfspeed CEO, Robert Feurle.

Van Issum brings more than 20 years of experience in transformational restructuring and strategic financing positions across the technology industry. Through senior roles at semiconductor manufacturers ams-OSRAM AG and NXP Semiconductors N.V., he gained an in-depth understanding of how to lead organizations through dynamic business cycles. Most recently, van Issum served as Executive Vice President, Group Controller at ams-OSRAM, where he was deeply involved in driving the financial performance of this multi-billion Euro revenue company. He also led ams-OSRAM's cost savings programs and sales initiatives in his dual role as the company's Chief Transformation and Performance Officer.

"We are excited to welcome Gregor to our team as Wolfspeed enters a new era," said Robert Feurle, Chief Executive Officer. "I witnessed Gregor's strong analytical and leadership skills firsthand during our time working together at ams-OSRAM. Gregor has helped lead large, multibillion euro businesses with complex manufacturing operations, which will be invaluable to Wolfspeed as we unlock the potential of our purpose-built 200mm platform. The Board and I look forward to collaborating with Gregor as we position Wolfspeed for long-term growth and profitability."

Van Issum gained valuable M&A and IT experience at ams-OSRAM, where he was responsible for executing and delivering on the business targets for the transactions and managing the strategic direction of the company's systems. He previously served as Vice President, Strategy of NXP Semiconductors' Secure Transactions and Identification Solutions segment and served as the CFO of the Secure Identification Solutions and Analog Mixed Signal units.

"In this new role, my priority will be providing Wolfspeed's investors with transparency and clarity, especially during this transformative period," said van Issum. "Building on recent steps to restructure Wolfspeed's balance sheet, I will draw on my experience navigating complex business cycles to help create a capital structure that offers agility to respond to rapid shifts in the market. My background in transformation and restructuring also positions me to support Wolfspeed's strategic focus on improving profitability. At this pivotal time in the Company's life cycle, I am honored to help guide Wolfspeed as it leverages its competitive advantages—world-class facilities, exceptional talent, and robust intellectual property—to advance the incredible progress that Robert and the Wolfspeed team have made in recent months and solidify its leadership in silicon carbide technology."

Van Issum's appointment follows the addition of Dr. David Emerson, who joined Wolfspeed in May in the newly created role of Chief Operating Officer. With a refreshed leadership team, Wolfspeed is well positioned to navigate near-term market dynamics and seize opportunities to expand its leadership in silicon carbide technologies.

**About Wolfspeed, Inc.** 

Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of silicon carbide technologies that power the world's most disruptive innovations. As the pioneers of silicon carbide, and creators of the most advanced semiconductor technology on earth, we are committed to powering a better world for everyone. Through silicon carbide material, Power Modules, Discrete Power Devices and Power Die Products targeted for various applications, we will bring you The Power to Make It Real.<sup>TM</sup> Learn more at **<u>www.wolfspeed.com</u>.**

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**Forward-Looking Statements** 

This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause Wolfspeed's actual results to differ materially from those indicated in the forward-looking statements. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, including estimates, forecasts, and projections about possible or assumed future results of Wolfspeed's business, financial condition, liquidity, results of operations, plans, and objectives and Wolfspeed's industry and market growth. Words such as "could," "will," "may," "assume," "forecast," "position," "predict," "strategy," "expect," "intend," "plan," "estimate," "anticipate," "believe," "project," "budget," "potential," "forward" or "continue" and similar expressions are used to identify forward-looking statements. All statements in this press release that are not historical are forward-looking statements, including statements regarding Wolfspeed's restructuring and the potential for its profitability and growth. Actual results could differ materially due to a number of factors, including but not limited to, risks and uncertainties associated with voluntary petitions filed by Wolfspeed under Chapter 11 of the U.S. Bankruptcy Code (the "Chapter 11 Cases") in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the "Court"); the effects of the Chapter 11 Cases on Wolfspeed and Wolfspeed's relationship with its various stakeholders, including vendors and customers; Wolfspeed's ability to develop and implement the transactions contemplated by Wolfspeed's chapter 11 plan of reorganization (the "Plan") and whether the Plan will be approved by the Court and the ultimate outcome of the Chapter 11 Cases in general; the length of time Wolfspeed will operate under the Chapter 11 Cases; the potential adverse effects of the Chapter 11 Cases on Wolfspeed's liquidity and results of operations; Wolfspeed's ability to confirm and consummate the Plan; the timing or amount of recovery, if any, to Wolfspeed's stakeholders; uncertainty regarding Wolfspeed's ability to retain key personnel; the diversion of management's attention as a result of the Chapter 11 Cases; increased administrative and legal costs related to the Chapter 11 Cases; changes in Wolfspeed's ability to meet its financial obligations during the Chapter 11 Cases and to maintain contracts that are critical to its operations; the effectiveness of the overall restructuring activities pursuant to the Chapter 11 Cases and any additional strategies that Wolfspeed may employ to address its liquidity and capital resources and achieve its stated goals; the actions and decisions of equity holders, creditors, regulators, and other third parties that have an interest in the Chapter 11 Cases, which may interfere with the ability to confirm and consummate the Plan; risks relating to the potential delisting of Wolfspeed's common stock from the New York Stock Exchange and future quotation of the common stock; ongoing uncertainty in global economic and geopolitical conditions, such as the ongoing military conflict between Russia and Ukraine and the ongoing conflicts in the Middle East; changes in progress on infrastructure development or changes in customer or industrial demand that could negatively affect product demand, including as a result of an economic slowdown or recession, collectability of receivables and other related matters if consumers and businesses defer purchases or payments, or default on payments; risks associated with Wolfspeed's expansion plans, including design and construction delays, cost overruns, the timing and amount of government incentives actually received, including, among other things, any direct grants and tax credits, issues in installing and qualifying new equipment and ramping production, poor production process yields and quality control, and potential increases to Wolfspeed's restructuring costs; Wolfspeed's ability to obtain additional funding, including, among other things, from government funding, public or private equity offerings, or debt financings, on favorable terms and on a timely basis, if at all; the risk that Wolfspeed does not meet its production commitments to those customers who provide Wolfspeed with capacity reservation deposits or similar payments; the risk that Wolfspeed may experience production difficulties that preclude it from shipping sufficient quantities to meet customer orders or that result in higher production costs, lower yields and lower margins; Wolfspeed's ability to lower costs; the risk that Wolfspeed's results will suffer if it is unable to balance fluctuations in customer demand and capacity, including bringing on additional capacity on a timely basis to meet customer demand or scaling back its manufacturing expenses or overhead costs quickly enough to correspond to lower than expected demand; the risk that longer manufacturing lead times may cause customers to fulfill their orders with a competitor's products instead; product mix; risks associated with the ramp-up of production of Wolfspeed's new products, and Wolfspeed's entry into new business channels different from those in which it has historically operated; Wolfspeed's ability to convert customer design-ins to design-wins and sales of significant volume, and, if customer design-in activity does result in such sales, when such sales will ultimately occur and what the amount of such sales will be; the risk that the markets for Wolfspeed's products will not develop as it expects, including the adoption of Wolfspeed's products by electric vehicle manufacturers and the overall adoption of electric vehicles; the risk that the economic and political uncertainty caused by the tariffs imposed or announced by the United States on imported goods, and corresponding tariffs and other retaliatory measures imposed by other countries (including China) in response, may continue to negatively impact demand for Wolfspeed's products; the risk that Wolfspeed or its channel partners are not able to develop and expand customer bases and accurately anticipate demand from end customers, including production and product mix, which can result in increased inventory and reduced orders as Wolfspeed experiences wide fluctuations in supply and demand; risks related to international sales and purchases; risks resulting from the concentration of Wolfspeed's business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the risk that Wolfspeed's investments may experience periods of significant market value and interest rate volatility causing it to recognize fair value losses on Wolfspeed's investment; the risk posed by managing an increasingly complex supply chain (including managing the impacts of supply constraints in the semiconductor industry and meeting

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purchase commitments under take-or-pay arrangements with certain suppliers) that has the ability to supply a sufficient quantity of raw materials, subsystems and finished products with the required specifications and quality; risks relating to outbreaks of infectious diseases or similar public health events, including the risk of disruptions to Wolfspeed's operations, supply chain, including its contract manufacturers, or customer demand; the risk Wolfspeed may be required to record a significant charge to earnings if its remaining goodwill or amortizable assets become impaired; risks relating to confidential information theft or misuse, including through cyber-attacks or cyber intrusion; Wolfspeed's ability to complete development and commercialization of products under development; the rapid development of new technology and competing products that may impair demand or render Wolfspeed's products obsolete; the potential lack of customer acceptance for Wolfspeed's products; risks associated with ongoing litigation; the risk that customers do not maintain their favorable perception of Wolfspeed's brand and products, resulting in lower demand for its products; the risk that Wolfspeed's products fail to perform or fail to meet customer requirements or expectations, resulting in significant additional costs; risks associated with strategic transactions; the risk that Wolfspeed is not able to successfully execute or achieve the potential benefits of Wolfspeed's efforts to enhance its value; the substantial doubt about Wolfspeed's ability to continue as a going concern; and other factors discussed in Wolfspeed's filings with the Securities and Exchange Commission (the "SEC"), including Wolfspeed's report on Form 10-K for the fiscal year ended June 30, 2024, and subsequent reports filed with the SEC. These forward-looking statements represent Wolfspeed's judgment as of the date of this press release. Except as required under the U.S. federal securities laws and the rules and regulations of the SEC, Wolfspeed disclaims any intent or obligation to update any forward-looking statements after the date of this press release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.

Wolfspeed<sup>®</sup> is a registered trademark of Wolfspeed, Inc.

Contact:

**Media Relations:** 

Bridget Johnson

Head of Corporate Marketing and Communications

847-269-2970

media@wolfspeed.com

**Investor Relations:** 

Tyler Gronbach

VP of External Affairs

919-407-4820

<u>investorrelations@wolfspeed.com</u> 

Source: Wolfspeed, Inc.