Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Resignation of Director
On May 13, 2020, Vinder Sokhi submitted his resignation from his position as a
member of the Board of Directors (the "Board") of alpha-En Corporation (the
"Company"), effective immediately. Mr. Sokhi did not resign as a result of any
disagreement with the Company on any matter relating to the Company's
operations, policies or practices.
Resignation of Chief Financial Officer
On May 13, 2020, Mr. Nat Wasserman informed the Board that he was resigning from
his position as Chief Financial Officer, effective immediately (the "CFO
Resignation").
Appointment of Chief Financial Officer
On May 13, 2020, in connection with the CFO Resignation, the Board appointed Mr.
Thomas A. Suppanz as the Company's Chief Financial Officer, effective
immediately.
Thomas A. Suppanz, age 66. Mr. Suppanz has served as the Company's Managing
Director of Finance since June 2016, following a 35-year career on Wall Street
as an Investment Banker with firms such as Oppenheimer and National Securities.
Mr. Suppanz began his career as the Chief Accountant at VOEST Alpine USA, the
U.S. subsidiary of a major European steel conglomerate. Mr. Suppanz holds a
Masters Degree in Business from the Karl-Franzens University of Graz, Austria.
There is no arrangement or understanding between Mr. Suppanz and any other
persons pursuant to which Mr. Suppanz was selected as an officer. There are no
family relationships between Mr. Suppanz and any director, executive officer or
person nominated or chosen by the Company to become a director or executive
officer of the Company within the meaning of Item 401(d) of Regulation S-K under
the Securities Act ("Regulation S-K").
Since the beginning of the Company's last fiscal year, the Company has not
engaged in any transaction in which Mr. Suppanz had a direct or indirect
material interest within the meaning of Item 404(a) of Regulation S-K.
No arrangements have been made yet between Mr. Suppanz and the Company
pertaining to his compensation as CFO. Mr. Suppanz was compensated for his
services as Managing Director of Finance of the Company at a rate of $4,000 per
month, and he shall continue to be compensated at the same rate until such
arrangements are made.
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