Alvarium Tiedemann Holdings, Inc. appointed Michael Tiedemann as new CEO

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Executive Officers and Directors 

Upon the consummation of the Business Combination, and in accordance with the terms of the Business Combination Agreement, each executive officer of Cartesian ceased serving in such capacities, and Gregory Armstrong, Elias Diaz Sese, Bertrand Grabowski, and Daniel Karp ceased serving on the Company's board of directors.

Effective as of the consummation of the Business Combination, Ali Bouzarif, Nancy Curtin, Kevin T. Kabat, Timothy Keaney, Judy Lee, Spiros Maliagros, Hazel McNeilage, Craig Smith, Michael Tiedemann and Tracey Brophy Warson were appointed as directors of the Company, to serve until the end of their respective terms and until their successors are elected and qualified.

Effective as of the consummation of the Business Combination, Michael Tiedemann was appointed as the Company's Chief Executive Officer, Christine Zhao was appointed as the Company's Chief Financial Officer, Kevin Moran was appointed as Chief Operating Officer, Alison Trauttmansdorff was appointed as the Company's Chief Human Resources Officer, Laurie Birrittella (Jelenek) was appointed as the Company's Chief People Officer and Jed Emerson was appointed as the Company's Chief Impact Officer.

The directors and executive officers of the Company after the consummation of the Business Combination are described in the Proxy Statement/Prospectus in the sections entitled "Management of the Company Following the Business Combination-Board of Directors" and "Management of the Company Following the Business Combination-Executive Officers" beginning on pages 414 and 417, respectively, which are incorporated herein by reference.

The disclosure set forth in "Committees of the Board of Directors" above is incorporated into this Item 5.02 by reference.

Compensatory Arrangements for Directors 

Non-Employee Director Compensation

The disclosure set forth in "Director Compensation" above is incorporated into this Item 5.02 by reference.

2023 Plans 

In connection with the consummation of the Business Combination, and as further described in the Proxy Statement/Prospectus in the sections titled "Proposal No. 6 - The Equity Incentive Plan Proposal" and "Proposal No. 7 - The Employee Stock Purchase Plan Proposal" beginning on pages 227 and 233, respectively, the Company adopted the Alvarium Tiedemann Holdings, Inc. 2023 Stock Incentive Plan (the "Equity Incentive Plan"), under which the Company may make equity and other equity or cash-based incentive awards to officers, employees, directors and consultants of the Company and its subsidiaries, and the Alvarium Tiedemann Holdings, Inc. 2023 Employee Stock Purchase Plan (the "ESPP") to provide employees of the Company and its subsidiaries with an opportunity to acquire shares of Class A Common Stock and enable the Company to attract, retain and motivate valued employees.


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The Equity Incentive Plan became effective upon the consummation of the Business Combination. Subject to adjustment as set forth in the Equity Incentive Plan, there are 11,788,132 shares of Class A Common Stock available for the issuance of awards under the Equity Incentive Plan (the "Initial Limit"). The maximum aggregate number of shares of Class A Common Stock that may be issued upon exercise of incentive stock options under the Equity Incentive Plan will not exceed the Initial Limit.

The ESPP became effective upon the consummation of the Business Combination. Subject to adjustment as set forth in the ESPP, there are 1,813,559 shares of Class A Common Stock available for issuance under the ESPP. The ESPP provides that the number of shares of Common Stock that are reserved and available for issuance under the ESPP will automatically increase on January 1st of each year, beginning on January 1, 2023 and ending on and including January 1, 2032, by the least of 725,120 shares of Class A Common Stock, 0.5% of the outstanding number of shares of Class A Common Stock and Class B Common Stock on the immediately preceding December 31, and such lesser amount as determined by the Board.

The foregoing description of the Equity Incentive Plan and the ESPP contained in this Item 5.02 does not purport to be complete and is subject to and qualified in its entirety by reference to the Equity Incentive Plan and the ESPP, copies of which are attached hereto as Exhibits 10.3 and 10.4, respectively, and are incorporated herein by reference.