Global Clean Energy Holdings Inc.
07/19/2024 | Press release | Distributed by Public on 07/19/2024 11:24
Management Change/Compensation Form 8 K
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 15, 2024, Martin Wenzel resigned as a member of the Board of Directors (the "Board") of Global Clean Energy Holdings, Inc. ("we," "us," "our" and the "Company"), effective as of that date. There were no disagreements between the Company and Mr. Wenzel relative to his resignation.
On July 15, 2024, Noah Verleun, the Company's President & interim Chief Executive Officer, was appointed to the Board to fill the vacancy created by Mr. Wenzel's resignation. As an employee of the Company, Mr. Verleun will not receive any separate compensation for his service on the Board, nor will he serve on any committee of the Board. Biographical information for Mr. Verleun can be found in the Company's Annual Report on Form 10-K under Part III, Item 10, "Executive Officers", filed with the Securities and Exchange Commission on April 16, 2024, which such information is incorporated herein by reference.
There are no arrangements or understandings between Mr. Verleun and any other persons pursuant to which he was appointed to the Board. Mr. Verleun does not have any family relationships subject to disclosure under Item 401(d) of Regulation S-K or any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
In connection with previously announced departures from the Board and Mr. Verleun's appointment, as permitted by the Company's bylaws the Board reduced the number of directors on the Board from seven to five.