Aptera Motors Corp (SEV): CFO Tom DaPolito compensation terms

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.
The
Board of Directors of Aptera Motors Corp. (the “Company”) approved an amendment (the “Amendment”), effective
as of October 16, 2026, to the engagement letter, dated August 25, 2025, by and between the Company and Tom DaPolito, the Company’s
Interim Chief Financial Officer (the “Engagement Agreement”).
The
Amendment: (i) extends the term of the Engagement Agreement through October 16, 2027, unless terminated earlier in accordance with its
terms; (ii) provides that all of Mr. DaPolito’s outstanding and unvested stock options will vest in full immediately upon a change
of control of the Company, whether or not his engagement is terminated; and (iii) extends the period during which Mr. DaPolito may exercise
his vested stock options to three years (but not beyond the original expiration date) following any termination of his engagement, other
than a termination by the Company for Cause (as defined in the Engagement Agreement). All other terms of the Engagement Agreement remain
in full force and effect.
The
foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text
of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.