Current Report Filing (8-k)
January 03 2018 - 8:02AM
Edgar (US Regulatory)
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): January 2, 2018
Gevo, Inc.
(Exact name of registrant as specified in its charter)
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Delaware
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001-35073
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87-0747704
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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345 Inverness Drive South, Building C, Suite 301
Englewood, CO 80112
(Address of principal executive offices)(Zip Code)
Registrants
telephone number, including area code: (303)
858-8358
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth
company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2
of the Securities Exchange Act of 1934
(§240.12b-2
of this chapter).
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.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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In connection with its strategic review of options to improve the cash flow profile of its business, on January 2,
2018, Gevo, Inc. (the Company) entered into an agreement (the Separation Agreement) with Mike Willis, the Companys Chief Financial Officer, pursuant to which Mr. Willis will resign from his position with the
Company, effective January 5, 2018 or such other date as mutually agreed (the Termination Date).
Pursuant to the Separation
Agreement, Mr. Willis will be entitled to a lump sum payment of $200,000 from the Company and another lump sum payment equal to one hundred percent (100%) of the cost to continue his Company health care coverage pursuant to COBRA through
June 30, 2018. The Separation Agreement also contemplates that the Company and Mr. Willis may enter into a consulting agreement pursuant to which Mr. Willis will provide certain advisory services to the Company.
Mr. Willis shall forfeit all restricted stock unit and stock option awards to the extent that his interests therein have not vested on or before the
Termination Date. With respect to vested stock options that Mr. Willis is entitled to exercise, Mr. Williss right to exercise such stock options shall cease ninety (90) days after the Termination Date.
In addition, in connection with the Companys cost reduction efforts, the Companys Chief Executive Officer, Dr. Patrick Gruber, has
volunteered and elected to reduce his 2018 annual base salary by 30% to $350,000 and will forgo any potential 2017 annual cash bonus.
The
foregoing description of the Separation Agreement does not purport to be complete and is subject to, and is qualified in its entirety by, the full text of the Separation Agreement, a copy of which is attached hereto as Exhibit 10.1 to this
Current Report on
Form 8-K,
and is incorporated herein by reference.
Item 9.01.
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Financial Statements and Exhibits.
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(d)
Exhibits
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SIGNATURES
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.
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GEVO, INC.
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Dated: January 3, 2018
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By:
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/s/ Geoffrey T. Williams, Jr.
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Geoffrey T. Williams, Jr.
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General Counsel and Secretary
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