AmpliTech Group Appoints Shailesh “Sonny” Modi to Board of Directors

AmpliTech Group, Inc. (NASDAQ: AMPG) recently announced a significant change in its board composition. On January 17, 2025, the company saw the resignation of Mr. Matthew Kappers from his position as director, including roles in various committees within the company’s governance structure. Mr. Kappers stated personal reasons for his departure, emphasizing that it was not due to any disagreements with the management or operational practices of AmpliTech.

To fill the vacancy left by Mr. Kappers, the Board appointed Mr. Shailesh “Sonny” Modi, effective immediately. Mr. Modi brings a wealth of experience in finance and business, notably serving as the Chief Financial Officer and Treasurer of ShelterPoint Life Insurance Company. His appointment includes assuming the roles of Chairman of the Nominating and Corporate Governance Committee, as well as membership in the Audit and Compensation Committees.

Mr. Modi’s background includes leadership roles in various sectors such as finance, auditing, and strategy, with a strong foundation from Deloitte & Touche LLP and subsequent executive roles in the private sector. His expertise is expected to enhance AmpliTech’s strategic direction and governance.

In connection with Mr. Modi’s appointment, the Company entered into a Director Agreement on January 20, 2025, which outlines his compensation structure and responsibilities within AmpliTech. The agreement includes an annual compensation package of 15,000 Restricted Stock Units as part of the Amended and Restated 2020 Equity Incentive Plan, subject to specific terms.

On January 21, 2025, AmpliTech Group issued a press release officially announcing the appointment of Mr. Modi to its Board of Directors. The company expressed confidence in Mr. Modi’s abilities, citing his extensive experience and knowledge as valuable assets for steering AmpliTech towards its corporate objectives.

Shailesh “Sonny” Modi’s appointment signifies a strategic move by AmpliTech Group to strengthen its leadership team and benefit from the expertise of a seasoned professional in the financial and business domains. Investors and stakeholders are keen to observe the impact of this addition on the company’s future decisions and performance.

The full text of the Director Agreement and the press release can be found in the latest Form 8-K filing by AmpliTech Group with the Securities and Exchange Commission.

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

AmpliTech Group Company Profile

AmpliTech Group, Inc designs, engineers, and assembles micro-wave component-based amplifiers. The company’s products include radio frequency (RF) amplifiers and related subsystems, such as low noise amplifiers for use in receivers of various communication systems comprising Wi-Fi, radar, satellite, base station, cell phone, radio, etc.; and medium power amplifiers that provide enhanced output power and gain in transceiver chains.