CN Energy (CNEY) reaches settlement and final exit deal with ex-CEO

Rhea-AI Filing Summary

CN Energy Group Inc. has resolved its disputes with former CEO Steven Berman through a Mutual Settlement Agreement and Release. The agreement settles claims related to his service, prior complaints, paid and unpaid leave, internal investigation, and various financing and transaction matters.

Subject to Mr. Berman’s compliance with the agreement, the Company will pay his counsel a total gross amount of $25,000 in full and final settlement. Mr. Berman acknowledged receiving an aggregate of $277,000 during his paid leave and released any claims to additional amounts.

He also confirmed he is not entitled to further compensation or benefits and granted broad mutual releases with the Company. Effective June 3, 2026, Mr. Berman resigned from all positions with CN Energy and related entities. The agreement includes customary confidentiality, non-disparagement, no-publicity, cooperation, return-of-property, and no-reemployment provisions.

Key Figures

Settlement payment to counsel: $25,000 Paid leave compensation: $277,000 Resignation effective date: June 3, 2026

3 metrics

Settlement payment to counsel $25,000 Gross amount payable to Mr. Berman’s law firm in full settlement

Paid leave compensation $277,000 Aggregate amount Mr. Berman acknowledged receiving during paid leave

Resignation effective date June 3, 2026 Date Mr. Berman resigned from all positions with CN Energy

Key Terms

Mutual Settlement Agreement and Release, paid leave of absence, broad mutual releases of claims, non-disparagement, +1 more

5 terms

Mutual Settlement Agreement and Release legal

"entered into a Mutual Settlement Agreement and Release to fully, finally and forever resolve certain disputes"

paid leave of absence financial

"his period of paid leave of absence, and released any claim he may have with respect to such amount"

broad mutual releases of claims legal

"The agreement provides for broad mutual releases of claims by Mr. Berman and the Company"

non-disparagement legal

"The agreement also contains customary confidentiality, non-disparagement, no-publicity, cooperation"

A non-disparagement provision is a promise in an agreement that one party will not make negative public statements about the other, like a vow to avoid “badmouthing” a business or its leaders. Investors care because such promises protect reputation and can limit public criticism that might affect a company’s stock price, signal unresolved disputes, or introduce legal risk if enforcement leads to further costs or constrained disclosure.

no-reemployment legal

"return-of-property, no-reemployment, representations and warranties, and other provisions"

FAQ

What did CN Energy (CNEY) announce regarding former CEO Steven Berman?

CN Energy entered a Mutual Settlement Agreement and Release with former CEO Steven Berman, fully resolving disputes about his service, complaints, leave of absence, investigations, and related transactions, and documenting his resignation from all positions effective June 3, 2026.

How much is CN Energy (CNEY) paying under the settlement with Steven Berman?

CN Energy agreed to pay Mr. Berman’s counsel a total gross amount of $25,000. This payment is described as a full and final settlement of covered disputes, conditioned on his execution, non-revocation where applicable, and full compliance with the agreement’s terms.

What prior payments did Steven Berman receive from CN Energy (CNEY)?

Steven Berman acknowledged receiving an aggregate of $277,000 from CN Energy during his period of paid leave of absence. He released any claim concerning that amount and confirmed he is not entitled to additional compensation, severance, equity awards, benefits, or reimbursements from the Company.

What positions did Steven Berman resign from at CN Energy (CNEY)?

Effective June 3, 2026, Steven Berman resigned from all roles with CN Energy and related parties. This includes any positions as officer, director, employee, consultant, advisor, signatory, fiduciary, committee member, representative, or other authorized-person capacity with the Company.

What protections are included in CN Energy’s (CNEY) settlement with Steven Berman?

The settlement includes broad mutual releases of claims between CN Energy and Steven Berman. It also contains customary provisions such as confidentiality, non-disparagement, no-publicity, cooperation obligations, return-of-property, no-reemployment terms, representations and warranties, and other standard settlement-related clauses.

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Form 6-K: How Foreign Companies Report to the SEC →

Available on EDGAR 06/17/2026 - 04:50 PM Accepted by SEC EDGAR 06/17/2026 - 04:49 PM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the Month of June 2026

Commission file number: 001-39978

CN ENERGY GROUP. INC.

Building 2-B, Room 206, No. 268 Shiniu Road

Liandu District, Lishui City, Zhejiang Province

The People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Entry into Mutual Settlement Agreement and Release

As previously disclosed in the Report on Form 6-K furnished by CN Energy Group. Inc. (the “Company”) on May 16, 2024, on May 8, 2024, the Board of Directors of the Company decided to suspend indefinitely Mr. Steven Berman as Chief Executive Officer of the Company, pending an independent investigation by the special committee of the Board of Directors, which was formed on April 22, 2024 and comprised solely of independent directors, into various allegations made by Mr. Berman.

On June 3, 2026, the Company and Mr. Berman entered into a Mutual Settlement Agreement and Release to fully, finally and forever resolve certain disputes, claims, allegations, disagreements and potential claims between the parties arising on or before the effective date thereof, including matters relating to Mr. Berman’s service with the Company, prior complaints, paid and unpaid leave of absence, the internal investigation, access to financial information and bank account access, certain financing, investor relations, marketing and asset sale transactions, and related matters.

Pursuant to the agreement, subject to Mr. Berman’s execution, non-revocation, if applicable, and full compliance with the agreement, the Company agreed to pay the law firm of Franklin, Gringer, Cohen & Mosscrop, P.C., as counsel to Mr. Berman, the total gross amount of $25,000 in full and final settlement. Mr. Berman also acknowledged that he had received an aggregate of $277,000 from the Company during his period of paid leave of absence, and released any claim he may have with respect to such amount. Except for the settlement payment and the obligations expressly set forth in the agreement, Mr. Berman acknowledged that he is not entitled to any additional compensation, salary, severance, bonus, commission, equity, shares, warrants, options, benefits, reimbursements, fees, expenses, indemnification payments, attorneys’ fees, costs or other payments from the Company.

The agreement provides for broad mutual releases of claims by Mr. Berman and the Company. In addition, to the extent not already completed, Mr. Berman resigned, effective as of June 3, 2026, from all positions he holds or held with the Company and related parties, including any officer, director, employee, consultant, advisor, signatory, fiduciary, committee, representative or authorized-person role. The agreement also contains customary confidentiality, non-disparagement, no-publicity, cooperation, return-of-property, no-reemployment, representations and warranties, and other provisions.

The information set forth herein is being furnished and shall not be deemed “filed” for purposes of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except in the event that the Company expressly states that such information is to be considered filed under the Exchange Act or incorporates it by specific reference in such filing. The furnishing of this information hereby shall not be deemed an admission as to the materiality of any such information.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	CN Energy Group. Inc.
Date: June 17, 2026	By:	/s/ Wenhua Liu
	Name:	Wenhua Liu
	Title:	Interim Chief Executive Officer

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