Greenidge Generation Holdings Inc.
04/16/2026 | Press release | Distributed by Public on 04/16/2026 14:00
Management Change/Compensation (Form 8-K)
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Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On April 15, 2026, each of Kenneth Fearn and Christopher Krug notified Greenidge Generation Holdings Inc. (the "Company") of his resignation as a member of the Company's Board of Directors (the "Board"), effective as of April 15, 2026 (the "Resignation Effective Date"). Mr. Fearn served as a member of the Board's Audit Committee, and Mr. Krug served as a member of the Board's Compensation Committee.
Neither Mr. Krug's resignation nor Mr. Fearn's resignation resulted from any disagreement with the Company on any matter relating to the Company's operations, policies or practices. The Board thanks Messrs. Fearn and Krug for their service and contributions to the Company.
In connection with the foregoing resignations, on April 15, 2026, the Compensation Committee of the Board approved the accelerated vesting in full, effective as of the Resignation Effective Date, of the outstanding and unvested restricted stock units ("RSUs") held by the departing directors that were granted to them on April 17, 2025 and November 9, 2025. As a result of such approval, 174,107 RSUs held by each of Mr. Fearn and Mr. Krug vested in full as of the Resignation Effective Date, in each case in accordance with the terms of the Company's Third Amended and Restated 2021 Equity Incentive Plan and the applicable award documentation.
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