UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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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).
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Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On January 30, 2024, Beam Global (the “Company”) announced the appointment of Mark Myers, 48, as Chief Operating Officer. Prior to joining Beam Global on January 16, 2024, Mr. Myers was the Senior Director of Operations of thyssenkrupp Bilstein of America, leading manufacturing, supply chain, distribution, and quality for high-quality aftermarket shock absorbers and suspension systems. Prior to that, he was the Director of Manufacturing Operations for General Atomics Electromagnetic Systems, a Management Consultant at McKinsey & Co. and served as a Nuclear Navy Officer for the United States Navy. Mr. Myers holds a Master of Science in Executive Leadership from the University of San Diego, a Master of Science in Engineering Management from Old Dominion University in Norfolk, VA and a Bachelor of Science in Naval Architecture and Marine Engineering from the Webb Institute in Glen Cove, NY.
Mr. Myers and the Company agreed to an offer letter dated December 19, 2023 whereby the Company agreed to pay Mr. Myers an annual salary of $250,000 per year. Mr. Myers is eligible for an annual bonus up to 50% of his base salary subject to performance metrics established by the Company. On January 16, 2024, the Company also granted Mr. Myers an option to purchase up to 50,000 shares of the Company’s common stock at an exercise price equal to $5.90 which shall vest monthly over a four-year period commencing on January 31, 2024.
Mr. Myers and the Company have not engaged in any related party transaction. Mr. Myers has no family relationships with any director or executive officer of the Company, or persons nominated or chosen by the Company to become directors or executive officers. There are currently no other arrangements or understandings with Mr. Myers with respect to his appointment as Chief Operations Officer.
| Item 7.01 | Regulation FD Disclosure |
A press release announcing the appointment of Mr. Myers was issued by the Company on January 30, 2024, which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits |
|
Exhibit No. |
Description | |
| 99.1 | Press release dated January 30, 2024. | |
104 |
Cover Page Interactive Data File (formatted in inline XBRL, and included in exhibit 101). |
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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.
| BEAM GLOBAL | ||
| Dated: January 31, 2024 | By: | /s/ Lisa A. Potok |
| Name: | Lisa A. Potok | |
| Title: | Chief Financial Officer | |
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Exhibit 99.1
Beam Global Appoints Former Nuclear Navy Officer as COO
SAN DIEGO, CA – January 30, 2024 – Beam Global, (Nasdaq: BEEM, BEEMW), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, announced that former Nuclear Navy Officer Mark Myers has joined the Beam Global executive team as chief operating officer (COO).
Mr. Myers is a proven manufacturing and operations executive with over 20 years of experience leading lean transformations in design, manufacturing and logistics. He has a track record in scaling high-growth organizations with strong gains in efficiency while expanding and adding manufacturing facilities and entering new geographies. Previous senior management experience includes Thyssenkrupp Automotive, General Atomics, McKinsey & Co. and a leadership role as an officer in the United States Nuclear Navy. He has built and led teams of 200+ personnel and managed large-scale commercial and government projects with budgets of over $100 million.
“Mark‘s discipline in building and scaling lean manufacturing and operation organizations is perfectly suited and timed for our geographic and product expansion combined with our growth trajectory,” said Beam Global CEO Desmond Wheatley. “We now have three manufacturing facilities and hundreds of employees internationally. I believe his focus, experience and leadership can make a significant and sustainable impact on our profitability, efficiency, safety and quality. On a personal note, as someone who went to sea as a young man, I am delighted to have a tried and tested U.S. Navy officer working by my side and providing operational leadership to grow this fantastic company.”
The COO role has not previously been filled at Beam Global, however the Company has grown significantly in sales volume, product scope and geographic footprint making the benefits of an experienced operations leader evident. With engineering and manufacturing facilities in San Diego, Chicago and Europe, the COO will focus on profitability through process improvement, best practice standardization and unification of engineering, purchasing, transportation and administration resulting in significant opportunities for cost reduction and increased operating leverage.
“I am excited to expand, unify and refine Beam Global’s manufacturing and operations capabilities to support the mission of executing on our plan. I am impressed by the drive and passion of the Beam Team,” said Mark Myers, COO at Beam Global. “I will be laser focused on safety, quality, efficiency and profitability, and look forward to what we can achieve together in the near, mid and long-term future.”
Mr. Myers holds a Master of Science in Executive Leadership from the University of San Diego, a Master of Science in Engineering Management from Old Dominion University in Norfolk, VA and a Bachelor of Science in Naval Architecture and Marine Engineering from the Webb Institute in Glen Cove, NY. His distinguished naval career includes accolades and certifications in naval nuclear power, advanced system testing, field operations, Department of Defense engineering programs and a Highest Merit Prize in academic coursework.
About Beam Global
Beam Global is a clean technology innovator which develops and manufactures
sustainable infrastructure products and technologies. We operate at the nexus of clean energy and transportation with a focus on sustainable
energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage and vital energy security. With operations
in the U.S. and Europe, Beam Global develops, patents, designs, engineers and manufactures
unique and advanced clean technology solutions that power transportation, provide secure sources of electricity, save time and money and
protect the environment. Headquartered in San Diego with facilities in Chicago, Belgrade and Kraljevo, Beam
Global has a deep patent portfolio and is listed on Nasdaq under the symbols BEEM and BEEMW. For more information visit BeamForAll.com,
LinkedIn, YouTube and X (formerly Twitter).
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Forward-Looking Statements
This Beam Global Press Release may contain forward-looking statements. All statements in this Press Release other than statements
of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as “estimate,”
“project,” “predict,” “believe,” “expect,” “anticipate,” “target,”
“plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,”
or other words and similar expressions that convey the uncertainty of future events or results. These
statements relate to future events or future results of operations, including, but not limited to the following statements: statements
regarding the acquisition of Amiga, its expected benefits, and the anticipated future financial performance as a result of the acquisition. These
statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Beam Global's actual
results to be materially different from these forward-looking statements. Except to the extent required by law, Beam Global expressly
disclaims any obligation to update any forward-looking statements.
# # #
Media Contact:
Skyya PR
+1 651-335-0585
Press@BeamForAll.com
Investor Relations:
Core IR
+1 516-222-2560
IR@BeamForAll.com
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Cover |
Jan. 30, 2024 |
|---|---|
| Document Type | 8-K/A |
| Amendment Flag | true |
| Amendment Description | Revised for Item 5.02 |
| Document Period End Date | Jan. 30, 2024 |
| Entity File Number | 000-53204 |
| Entity Registrant Name | BEAM GLOBAL |
| Entity Central Index Key | 0001398805 |
| Entity Tax Identification Number | 26-1342810 |
| Entity Incorporation, State or Country Code | NV |
| Entity Address, Address Line One | 5660 Eastgate Drive |
| Entity Address, City or Town | San Diego |
| Entity Address, State or Province | CA |
| Entity Address, Postal Zip Code | 92121 |
| City Area Code | (858) |
| Local Phone Number | 799-4583 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Entity Emerging Growth Company | false |
| Common Stock [Member] | |
| Title of 12(b) Security | Common Stock |
| Trading Symbol | BEEM |
| Security Exchange Name | NASDAQ |
| Warrants | |
| Title of 12(b) Security | Warrants |
| Trading Symbol | BEEMW |
| Security Exchange Name | NASDAQ |