Greenidge directors resign; RSUs vest in full
Greenidge Generation Holdings Inc. reported that directors Kenneth Fearn and Christopher Krug resigned from the Board effective April 15, 2026.
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Form Type
8-K
Rhea-AI Filing Summary
Greenidge Generation Holdings Inc. reported that directors Kenneth Fearn and Christopher Krug resigned from the Board effective April 15, 2026. Fearn served on the Audit Committee and Krug on the Compensation Committee. The company stated their resignations did not result from any disagreement regarding operations, policies, or practices.
The Compensation Committee approved fully accelerated vesting of the outstanding, unvested restricted stock units granted to the departing directors on April 17, 2025 and November 9, 2025. As a result, 174,107 RSUs held by Fearn and 174,107 RSUs held by Krug vested in full under the company’s Third Amended and Restated 2021 Equity Incentive Plan.
8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Resignation effective date: April 15, 2026
RSUs vested for Kenneth Fearn: 174,107 RSUs
RSUs vested for Christopher Krug: 174,107 RSUs
+1 more
4 metrics
Resignation effective date
April 15, 2026
Effective date for both directors’ board resignations
RSUs vested for Kenneth Fearn
174,107 RSUs
Accelerated vesting upon resignation under 2021 Equity Incentive Plan
RSUs vested for Christopher Krug
174,107 RSUs
Accelerated vesting upon resignation under 2021 Equity Incentive Plan
Senior Notes coupon
8.50%
Coupon on Greenidge 8.50% Senior Notes due 2026 listed on Nasdaq
Key Terms
restricted stock units, Third Amended and Restated 2021 Equity Incentive Plan, Audit Committee, Compensation Committee, +1 more
5 terms
restricted stock units financial
"accelerated vesting in full, effective as of the Resignation Effective Date, of the outstanding and unvested restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Third Amended and Restated 2021 Equity Incentive Plan financial
"in accordance with the terms of the Company’s Third Amended and Restated 2021 Equity Incentive Plan"
Audit Committee financial
"Mr. Fearn served as a member of the Board’s Audit Committee"
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
Compensation Committee financial
"Mr. Krug served as a member of the Board’s Compensation Committee"
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What board changes did Greenidge Generation (GREE) disclose on April 15, 2026?
Greenidge Generation disclosed that directors Kenneth Fearn and Christopher Krug resigned from its Board effective April 15, 2026. Fearn served on the Audit Committee and Krug on the Compensation Committee, creating two vacancies in key governance roles.
Did the Greenidge (GREE) director resignations involve a disagreement with the company?
The company stated that neither resignation resulted from any disagreement about operations, policies, or practices. This language signals routine governance turnover rather than a dispute-driven departure, according to the company’s own characterization in the disclosure.
How many restricted stock units vested for each departing Greenidge (GREE) director?
Each departing director, Kenneth Fearn and Christopher Krug, had 174,107 restricted stock units vest in full. These RSUs were granted in 2025 and became fully vested upon resignation under the company’s equity incentive plan and award agreements.
What compensation decision did Greenidge’s Compensation Committee make for the departing directors?
The Compensation Committee approved accelerated vesting of all outstanding, unvested RSUs granted to the departing directors. This decision caused 174,107 RSUs for each director to vest as of the resignation date, consistent with the company’s Third Amended and Restated 2021 Equity Incentive Plan.
Which Greenidge (GREE) board committees were affected by these resignations?
The resignations affected the Audit Committee and the Compensation Committee. Kenneth Fearn served on the Audit Committee, while Christopher Krug served on the Compensation Committee, so their departures require the Board to address committee composition and oversight responsibilities.
Under what plan did the Greenidge (GREE) RSUs for the departing directors vest?
The RSUs vested under Greenidge’s Third Amended and Restated 2021 Equity Incentive Plan. The accelerated vesting followed the Compensation Committee’s approval and conformed to the applicable award documentation tied to grants made in April and November 2025.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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