ConnectM Technology Solutions, Inc. (CNTM): director Leonardo Riera elected to the board

Events in this filing

Item 5.02 as filed

Item 5.02.
Departure of Directors or Certain Officers;
Election of Directors;
Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers .
On October 27, 2026, ConectM Technology Solutions, Inc. (the “Company”) announced that Leonardo Riera was appointed as Lead
Independent Director of the Board of Directors of the Company (the “Board”) for an initial term beginning on October 21, 2026
(the “Effective Date”) and continuing to the Company’s next annual meeting of shareholders, when all directors will
be subject to election by shareholders. In connection with the appointment of Mr. Riera to the Board, the Company increased the size of
the Board from five (5) to six (6) members. As of the Effective Date, Mr. Riera will serve as a member of the Audit Committee and the
Compensation Committee, and Chairman of the Nominating and Corporate Governance Committee of the Board of Directors.
Mr. Riera has more than
40 years of experience in investment banking and fund management. His experience includes more than 10 years as Executive Director and
Country Head for Bankers Trust in Caracas, Venezuela, as well as service as Head of Mergers and Acquisitions for Citicorp Investment Bank
in Caracas. Mr. Riera has served on the board of directors of Sidus Space Inc. (NASDAQ: SIDU) since April 2023 where he also acted as
Chairman and Lead Independent Director. Since August 2024 he serves as Director of Katmai Tech, Inc and as Chair of their Audit Committee;
Since January 2021, Mr. Riera has served as a director and Chair of the Audit Committee of FenixOro Gold Corp., a Canadian junior mining
company focused on acquiring and exploring gold projects. Since 1988, Mr. Riera has owned and served as Chief Executive Officer
of Latin American Advisors Inc., through which he provides mergers and acquisitions, investment advisory, private equity and strategic
planning services. He was a consultant with McKinsey & Co. from 1984 through 1986 and served three terms as President of the International
Banking Association of Venezuela. He also served as Head of Asset Structuring and Credit for a $2 billion emerging market debt fund based
in Florida, where he was responsible for investments in Russia, Ukraine, Kazakhstan, Mexico, China, Nigeria, Singapore, Angola and Brazil.
Mr. Riera holds a degree in Economics from Universidad Católica Andrés Bello and an MBA from the Wharton School of the University
of Pennsylvania. He also completed the Strategic Valuations course for senior executives at the Harvard Business School.
In connection with his service on the Board, Mr. Riera
will be entitled to receive the standard annual cash and equity compensation paid to all non-employee directors of the Company, including
cash compensation of $20,000 per quarter, with the first quarter’s cash compensation being accrued, and equity compensation of $20,000
in common stock per quarter, issued at the beginning of each quarter, with the number of shares would be determined using the average
VWAP over the last five trading days of the preceding quarter.
There are no arrangements
or understandings between Mr. Riera and any other person pursuant to which he was elected as a director. There are no transactions in
which Mr. Riera has an interest requiring disclosure under Item 404(a) of Regulation S-K.
A press release announcing these matters is
filed as Exhibit 99.1 to this Form 8-K.