PRE 14A

0001641172-25-004586 — Filed 2025-04-14

Form type: PRE 14A

Filing date: 2025-04-14

Report date: 2024-12-31

Accepted: 2025-04-14 20:47 UTC

Day change: +0.04% (2025-04-15)

Description: N/A

Document: formpre14a.htm

Format: html (XBRL)

Size: 898.8 KB

Download status: downloaded

AI Summary

AST SpaceMobile held its board election where founder and CEO Abel Avellan controls approximately 88% of voting power through Class C shares, allowing him to nominate seven of the eleven directors while major investors like AT&T, Vodafone, American Tower, and Rakuten Mobile each nominate one director. The company is amending its charter to permit stockholder written consent for director removal to comply with Delaware law after eliminating a problematic minority removal provision in its shareholder agreement, which the board believes will reduce costs of holding special stockholder meetings. Independent directors received annual cash retainers ranging from $50,000 to $82,500 plus approximately $150,000 in restricted stock units, while the company's named executive officers include newly promoted President Scott Wisniewski and recently hired Chief Financial Officer Andrew Johnson alongside long-serving executives.

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