KULR Technology Group Ratifies Issuance of Non-Convertible Series A Voting Preferred Stock to CEO

KULR Technology Group, Inc. recently filed an 8-K report with the Securities and Exchange Commission indicating a new development within the company. On January 16, 2025, the Board approved, authorized, and ratified the issuance of 270,000 shares of Non-Convertible Series A Voting Preferred Stock to the Chairman and Chief Executive Officer, Michael Mo. This issuance is subject to particular limitations aimed at ensuring the voting power tied to these shares remains connected to active leadership within the company. Specifically, the Board holds the right to revoke or cancel these shares if Michael Mo is removed or resigns from any position within KULR Technology Group.

The Board’s decision has been described by Independent Board Members as strategically pivotal, enhancing the company’s flexibility and negotiation capabilities in various engagements. This move also supports their defense strategy against potential third-party threats. The shares were issued in compliance with exemptions from registration as provided by specific regulations.

In another development, adjustments were made to the executive officers’ cash compensation and restricted stock units (RSUs). These adjustments reflect a comprehensive review by the Compensation Committee, ensuring alignment with market standards while acknowledging the officers’ dedication and leadership through challenging market conditions. Notably, the Chief Executive Officer’s salary was increased to $450,000, accompanying the grant of 2,000,000 RSUs.

KULR Technology Group has filed a Certificate of Designation of Preferences, Rights, and Limitations of the Non-Convertible Series A Voting Preferred Stock with the Secretary of State of Delaware. This filing designates a total of 1,000,000 shares of preferred “A” stock, each having significant voting rights but no conversion or liquidation value entitlements.

These recent updates underscore KULR Technology Group’s commitment to aligning with long-term interests, reinforcing their leadership structure, and enhancing strategic capabilities for the future. For more detailed information, interested parties can refer to the company’s recent 8-K filing with the SEC available on the commission’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read KULR Technology Group’s 8K filing here.

KULR Technology Group Company Profile

KULR Technology Group, Inc, through its subsidiary, KULR Technology Corporation, develops and commercializes thermal management technologies for electronics, batteries, and other components applications in the United States. It provides lithium-ion battery thermal runaway shields; automated battery cell screening and test systems; cellchecks; safecases; fiber thermal interface materials; phase change material heat sinks; internal short circuit devices; and CRUX cathodes.