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Two Greenidge (NASDAQ: GREE) directors resign as RSUs fully vest

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
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.

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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.
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
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.
Understanding 8-K Material Events →
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM 8-K
___________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

April 15, 2026
Date of Report (date of earliest event reported)
___________________________________
Greenidge Generation Holdings Inc.
(Exact name of registrant as specified in its charter)
___________________________________

Delaware
(State or other jurisdiction of
incorporation or organization)
001-40808
(Commission File Number)
86-1746728
(I.R.S. Employer Identification Number)
1159 Pittsford-Victor Road, Suite 240
Pittsford, New York 14534
(Address of principal executive offices and zip code)
(315) 536-2359
(Registrant's telephone number, including area code)
___________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Class A common stock, par value $.0001
GREE
The Nasdaq Global Select Market
8.50% Senior Notes due 2026
GREEL
The Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.
Emerging growth company   ☒ 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐







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

On April 15, 2026, each of Kenneth Fearn and Christopher Krug notified Greenidge Generation Holdings Inc. (the “Company”) of his resignation as a member of the Company’s Board of Directors (the “Board”), effective as of April 15, 2026 (the “Resignation Effective Date”). Mr. Fearn served as a member of the Board’s Audit Committee, and Mr. Krug served as a member of the Board’s Compensation Committee.

Neither Mr. Krug’s resignation nor Mr. Fearn’s resignation resulted from any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. The Board thanks Messrs. Fearn and Krug for their service and contributions to the Company.

In connection with the foregoing resignations, on April 15, 2026, the Compensation Committee of the Board approved the accelerated vesting in full, effective as of the Resignation Effective Date, of the outstanding and unvested restricted stock units (“RSUs”) held by the departing directors that were granted to them on April 17, 2025 and November 9, 2025. As a result of such approval, 174,107 RSUs held by each of Mr. Fearn and Mr. Krug vested in full as of the Resignation Effective Date, in each case in accordance with the terms of the Company’s Third Amended and Restated 2021 Equity Incentive Plan and the applicable award documentation.


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 hereunto duly authorized.


Greenidge Generation Holdings Inc.
By:
/s/ Jordan Kovler
Name:
Jordan Kovler
Title:
Chief Executive Officer

Date: April 16, 2026

Source: View Original Filing on SEC EDGAR

FAQ

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.

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