ADOMANI Announces Chief Financial Officer Resignation and Appointment

On December 26, 2024, ADOMANI (OTCMKTS:ADOM) revealed in an 8-K filing with the Securities and Exchange Commission that Franklin Lim, the Chief Financial Officer of Envirotech Vehicles, Inc., a Delaware corporation affiliated with ADOMANI, intends to resign from his position due to health reasons. Lim’s resignation, effective as of December 31, 2024, will lead him to provide consulting services to the company upon terms to be mutually determined.

Simultaneously, the board of directors announced the appointment of William C. Miller as the new Chief Financial Officer effective January 1, 2025. Prior to joining Envirotech Vehicles, Miller, aged 49, ran his own public accounting firm, William C. Miller, LLC, since 2017. He also served as the Director of Internal Audit for the Office of the Arkansas Lottery from August 2019 to December 2024.

Miller’s professional experience spans over 25 years in accounting and finance within private companies and public accounting firms. Holding certifications as a Certified Public Accountant (CPA) and Chartered Global Management Accountant, he received his Bachelor of Business Administration from Henderson State University in 1997.

Per the Offer Letter extended by the company, Miller will receive an annual base salary of $150,000 as Chief Financial Officer. Additionally, he is granted a stock option under the 2017 Equity Incentive Plan to purchase 100,000 shares of common stock, vesting ratably over 24 months. Further, after 90 days of employment, he will qualify for the company’s employee benefit programs, including health, vision, and dental insurance.

The 8-K filing highlighted that there were no pre-existing agreements or affiliations between Miller and any person prior to his appointment. Furthermore, there are no familial relationships between Miller and the company’s directors and executive officers, nor any transactions requiring disclosure under Item 404(a) of Regulation S-K.

For full details regarding the agreement between ADOMANI and William C. Miller, interested parties are directed to refer to the complete Offer Letter filed as Exhibit 10.1 attached to the Current Report on Form 8-K.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read ADOMANI’s 8K filing here.

About ADOMANI

Envirotech Vehicles, Inc engages in the design, manufacture, and installation of zero-emission electric drivetrain systems for fleet vehicles. Its products and services include zero-emission vehicles and chassis; e-trikes; and Neighborhood Electric Vehicles that are enclosed vehicles with seatbelts, climate control, and fold-down rear seats.