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):August 23, 2019
CBAK ENERGY TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
| Nevada | | 001-32898 | | 86-0442833 |
(State or other jurisdiction
of incorporation) | | (Commission File No.) | | (IRS Employer
Identification No.) |
BAK Industrial Park, Meigui Street
Huayuankou Economic Zone
Dalian, China, 116450
(Address, including zip code, of principal executive offices)
(86)(411)-3918-5985
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Securities registered or to be registered pursuant to Section 12(b) of the Act:
| Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
| Common Stock, $0.001 par value | | CBAT | | Nasdaq Capital Market |
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 (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| | |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| | |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| | |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company 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 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 23, 2019, pursuant to the CBAK Energy Technology, Inc. 2015 Equity Incentive Plan, the Board of Directors of CBAK Energy Technology, Inc. (the “Company”) granted an aggregate of 1,877,000 restricted share units (the “RSUs”), to certain employees, officers and directors of the Company. Each restricted share unit represents the contingent right to receive one share of the Company’s common stock upon vesting of the unit. Specifically, the Company granted the RSUs to the following executive officers and directors:
| Name and Position | | Amount | | | Vesting Schedule |
| Yunfei Li, CEO and Chairman | | | 400,000 | | | vest semi-annually in 6 equal installments over a three year period with the first vesting on September 30, 2019 |
| Xiangyu Pei, Interim CFO | | | 180,000 | | | vest semi-annually in 6 equal installments over a three year period with the first vesting on September 30, 2019 |
| Guosheng Wang, Director | | | 70,000 | | | vest semi-annually in 6 equal installments over a three year period with the first vesting on September 30, 2019 |
| Martha Agee, Director | | | 20,000 | | | vest semi-annually in 6 equal installments over a three year period with the first vesting on September 30, 2019 |
| Jianjun He, Director | | | 20,000 | | | vest semi-annually in 6 equal installments over a three year period with the first vesting on September 30, 2019 |
J. Simon Xue, Director | | | 20,000 | | | vest semi-annually in 6 equal installments over a three year period with the first vesting on September 30, 2019 |
Each recipient entered into a standard restricted share units award agreement with the Company. A form of such agreement was filed as Exhibit 10.1 to this Current Report and is incorporated herein by reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
SIGNATURE
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.
| | CBAK ENERGY TECHNOLOGY, INC. |
| | | |
| Date: August 29, 2019 | By: | /s/ Yunfei Li |
| | | Yunfei Li |
| | | Chief Executive Officer |
EXHIBIT INDEX
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