Knightscope, Inc. appointed new CEO

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


On December 1, 2023, Mallorie Burak, President and Chief Financial Officer of Knightscope, Inc. (the "Company") and its principal financial officer and principal accounting officer, resigned from her positions at the Company to pursue another professional opportunity, effective as of January 10, 2024 (the "Effective Date"). As of the Effective Date, William Santana Li, the Company's Chairman and Chief Executive Officer will, in addition to his existing duties, re-assume the position of President of the Company.


Apoorv S. Dwivedi has accepted the position of Executive Vice President and Chief Financial Officer of the Company, effective as of January 15, 2024, or on a mutually agreed date, and is expected to be appointed as the Company's principal financial officer and principal accounting officer at that time. Mr. Dwivedi most recently served as the Chief Financial Officer of Nxu, Inc. from January 2022 until his resignation in December 2023. Prior to his CFO role at Nxu, Dwivedi served as Director of Finance for Cox Automotive from 2019 to January 2022 where he successfully ran the Manheim Logistics business. From 2018 to 2019, he was the Director of Presales within the finance solutions group at Workiva, and from 2010 to 2017 Mr. Dwivedi served in several corporate finance roles of increasing responsibility at the General Electric Company across both the GE Capital and GE Industrial businesses. Mr. Dwivedi began his career at ABN-AMRO, N.A. and was instrumental in building one of the first data analytics teams at Sears Holdings Company. Mr. Dwivedi earned his Bachelors in Finance from Loyola University - Chicago and his MBA from Yale School of Management.


Following his commencement of employment, Mr. Dwivedi will be entitled to receive an annual base salary of $350,000, and will be eligible to receive an annual bonus based upon performance objectives or other criteria as determined by the Company's Board of Directors (the "Board") or its Compensation Committee (the "Compensation Committee") in their sole discretion. Additionally, Mr. Dwivedi will be eligible to receive an initial equity award to be determined by the Board or the Compensation Committee and additional equity awards pursuant to plans or arrangements the Company may have in effect from time to time, as determined in the Board's discretion. Upon a termination of Mr. Dwivedi's termination without cause by the Company or resignation for good reason within one year of a change in control (the "Change in Control Period"), Mr. Dwivedi will be eligible to receive (a) a lump sum severance payment in an amount of cash equal to 1.0 times annual base salary, (b) a single lump sum payment equal to 100% of his target bonus, (c) Company paid COBRA continuation coverage until the earlier of twelve months, the date that coverage is resumed under similar plans, or the date that he ceases to be eligible for coverage, and (d) full vesting of his outstanding and unvested equity awards. Upon a termination of Mr. Dwivedi's employment without cause or his death or disability outside a Change in Control Period, Mr. Dwivedi will be eligible to receive (a) continuing payments of severance pay of his base salary for six months, and (b) Company paid COBRA continuation coverage until the earlier of six months, the date that coverage is resumed under similar plans, or the date that he ceases to be eligible for coverage.