Tonya Stevens joins Navitas Semiconductor (NVTS) as new CFO with $4.5M RSU grant
Rhea-AI Filing Summary
Navitas Semiconductor Corporation appointed Tonya Stevens as Chief Financial Officer and Treasurer, effective March 30, 2026, succeeding Todd Glickman after a planned transition. Stevens brings over 30 years of global finance and accounting experience, most recently as Chief Accounting Officer and Interim CFO at Lattice Semiconductor.
Under her offer letter, Stevens will receive an annual base salary of $425,000 and is eligible for an annual bonus targeted at 65% of base salary, with a 2026 bonus formula tied to actual pay and performance. She will also receive a one-time $4,500,000 time-based RSU recruitment award vesting over four years, plus annual long-term equity awards expected to total about $1,000,000 in 2026 and $1,500,000 from 2027, split between RSUs and stock options with multi‑year vesting.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 11, 2026, Navitas Semiconductor Corporation (the “Company”) announced that Tonya Stevens, age 54, will be appointed the Company’s Chief Financial Officer and Treasurer, effective March 30, 2026 (the “Transition Date”). Todd Glickman, who is currently the Company’s Senior Vice President, Chief Financial Officer and Treasurer, previously agreed to remain with the Company through the Transition Date to ensure continuity and a smooth transition of the leadership of the Company’s finance and accounting function before he departs to pursue new opportunities.
Ms. Stevens, who has more than three decades of global finance and accounting experience in the semiconductor, technology, and manufacturing sectors, joins the Company from Lattice Semiconductor Corporation (Nasdaq: LSCC) (“Lattice”), where she served as Corporate Vice President, Chief Accounting Officer. She held this position and other key finance leadership positions since joining Lattice in May 2019, including when she served as Lattice’s Interim Chief Financial Officer from October 2024 to February 2025. While at Lattice, Ms. Stevens led key strategic transformations that helped Lattice optimize its operations and strengthen its financial foundation. Prior to Lattice, Ms. Stevens held senior finance leadership roles at a variety of companies, including Intel Corp. and PricewaterhouseCoopers LLP. Ms. Stevens holds a B.S. in Accounting, magna cum laude, from the University of Oregon and is a Certified Public Accountant.
Ms. Stevens has entered into an offer letter with the Navitas Semiconductor USA, Inc., a subsidiary of the Company, dated March 11, 2026 (the “Offer Letter”), which sets forth the terms of her employment. Pursuant to the Offer Letter, Ms. Stevens will be paid an annual base salary of $425,000. Ms. Stevens is eligible to participate in the Company’s annual bonus plan, with a target bonus opportunity of 65% of her annual base salary to the extent earned based on achievement of the applicable performance goals, as determined by the board of directors (the “Board”) of the Company or the compensation committee (the “Compensation Committee”) of the Board. For calendar year 2026, Ms. Stevens’ annual bonus incentive will equal the greater of (a) 65% of the aggregate amount of gross base salary (before deductions for taxes or benefits) actually paid to her during 2026; and (b) a pro-rata share of the bonus amount determined based on actual performance against predetermined corporate financial goals to be determined in good faith by the Committee and Board. Subject to Board or Committee approval, Ms. Stevens will also receive a one-time equity award (the “Recruitment Award”) of $4,500,000 time-based restricted stock units (“RSUs”), which will vest in four equal annual installments on each of the first, second, third and fourth anniversaries of the 20th day of the last completed calendar month preceding the Transition Date. The number of RSUs granted pursuant to the Recruitment Award will be calculated using the weighted average closing price of the Company’s Class A Common Stock, par value $0.0001 per share (the “Common Stock”), on each trading day during the sixty calendar days prior to the Transition Date. In addition, beginning with the Company’s 2026 award cycle, and for each fiscal year thereafter during Ms. Stevens’ employment, she will be eligible to receive annual long-term incentive equity awards (“Annual Awards”), which are currently expected to have an aggregate value on the grant date equal to approximately $1,000,000 for 2026 and approximately $1,500,000 beginning in 2027. For convenience purposes, the Company will issue Ms. Stevens’ Annual Award for 2026 at the same time as her Recruitment Award. The Annual Awards will be in the form of (x) time-based RSUs, which vest in equal annual installments over four years following the grant date (or in the case of the Annual Award for 2026, the applicable vesting date for the Recruitment Award) and (y) non-qualified stock options (“NSOs”), which will vest over four years with 25% vesting on the one year anniversary of the applicable grant or vesting date, and the remainder vesting pro-rata on a quarterly basis thereafter. The terms and conditions of each RSU and NSO award described above for the Recruitment Award and each Annual Award, including the vesting schedule, performance metrics (if applicable), option exercise price and duration, and other applicable provisions, will be subject to the approval of the Board or Committee, will be set forth in the applicable award agreement and will be subject to the terms and conditions of the Navitas Semiconductor Corporation 2021 Equity Incentive Plan (or successor plan adopted by the Board) and other applicable policies of the Company as in effect from time to time, including ownership guidelines and insider trading policies. Ms. Stevens is eligible to participate in employee benefit plans and programs generally available to the Company’s senior executives, including group medical, dental, vision, disability and life insurance, and is entitled to paid vacation time. She also will enter into a customary indemnification agreement with the Company and is eligible for participation in the Navitas Semiconductor Executive Severance Plan consistent with the Company’s other senior executives. The foregoing description of the terms of Ms. Stevens’ employment relationship with the Company are qualified in their entirety to the actual text of the Offer Letter, a copy of which is attached hereto as Exhibit 10.1 and incorporated by reference.
Ms. Stevens does not have any family relationships with any other director or officer of the Company, and she is not a party to related party transactions with the Company or that would otherwise require disclosure.
| Item 7.01. | Regulation FD Disclosure. |
On March 11, 2026, the Company issued a press release announcing the appointment of Ms. Stevens. A copy of the press release is attached hereto as Exhibit 99.1.
The information furnished pursuant to Item 7.01 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit Number |
Description |
| 10.1† | Offer Letter, dated March 11, 2026, between Navitas Semiconductor USA, Inc. and Tonya Stevens |
| 99.1 | Press release, dated March 11, 2026 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
† Management contract or compensatory arrangement.
SIGNATURES
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.
| NAVITAS SEMICONDUCTOR CORPORATION | ||
| Dated: March 11, 2026 | ||
| By: | /s/ Chris Allexandre | |
| Chris Allexandre | ||
| President and Chief Executive Officer | ||
Exhibit 99.1
Navitas Semiconductor Bolsters Leadership with Appointment of Tonya Stevens as Chief Financial Officer
Seasoned Finance Executive Brings Over 30 Years of Expertise to Lead Financial Strategy,
Drive Profitable Growth and Enable Scaling and Operational Excellence as Part of the Navitas 2.0 Transformation to High Power Markets
TORRANCE, Calif., Mar. 11, 2026 – Navitas Semiconductor, (Nasdaq: NVTS), an industry leader in next-generation GaNFast™ gallium nitride (GaN) and GeneSiC™ silicon carbide (SiC) power semiconductors, today announced the appointment of Tonya Stevens as Chief Financial Officer (CFO), effective March 30, 2026. With more than three decades of global finance and accounting experience in the semiconductor, technology and manufacturing sectors, Stevens will oversee Navitas' financial strategy, investor relations, treasury and the global finance organization as well as lead the path to profitability as the Company continues to drive the revolution in energy-efficient GaN and high-voltage SiC technologies.
Stevens joins Navitas from Lattice Semiconductor, where she served as Chief Accounting Officer and previously as Interim CFO. In these roles, she managed comprehensive financial operations, including SEC reporting, global accounting, tax, treasury, forecasting, internal controls and investor relations. Prior to Lattice, Stevens held senior finance leadership positions at Intel Corporation, Acumed and American Veterans Security. She began her career at PricewaterhouseCoopers, focusing on audit, financial risk management and capital markets transactions for multinational clients. Stevens holds a B.S. in Accounting, magna cum laude, from the University of Oregon and is a Certified Public Accountant.
"What drew me to Navitas was not only the Company's pivotal role in transforming power management with essential technologies for high-power markets driven by the AI catalyst, but also the executive team's profound commitment to innovation, scale, transformation and execution," said Tonya Stevens, CFO of Navitas Semiconductor. "My primary focus will be on reinforcing our financial foundation and discipline, instilling operational rigor and ensuring strategic alignment to enable the business to scale with velocity, ultimately delivering sustained long-term value to our customers and shareholders."
"I am super thrilled to welcome Tonya Stevens to our executive team as our new CFO. Tonya's exceptional track record of financial leadership in the semiconductor industry—spanning executive roles at Lattice Semiconductor and Intel—brings the depth of expertise and strategic insight we need at this exciting stage of Navitas' growth and transformation,” said Chris Allexandre, President and CEO of Navitas. “Her proven ability to lead key strategic transformations that helped companies optimize its operations and foster investor confidence will be instrumental as we scale our operations to a larger, profitable company as part of Navitas 2.0. Tonya is an exceptional addition to our world-class team, a great leader that I look forward to partnering closely with to execute our vision of electrifying the world with more efficient and sustainable power solutions and deliver scale through growth in our high power markets of AI data centers, grid and energy infrastructures, performance computing and industrial electrification."
About Navitas
Navitas Semiconductor (Nasdaq: NVTS) is a next-generation power semiconductor leader in gallium nitride (GaN) and IC integrated devices, and high-voltage silicon carbide (SiC) technology, driving innovation across AI data centers, energy and grid infrastructure, performance computing and industrial electrification. With more than 30 years of combined expertise in wide bandgap technologies, GaNFast™ power ICs integrate GaN power, drive, control, sensing, and protection, delivering faster power delivery, higher system density, and greater efficiency. GeneSiC™ high-voltage SiC devices leverage patented trench-assisted planar technology to provide industry-leading voltage capability, efficiency, and reliability for medium-voltage grid and infrastructure applications. Navitas has over 300 patents issued or pending and is the world’s first semiconductor company to be CarbonNeutral®-certified.
Navitas Semiconductor, GaNFast, GaNSense, GeneSiC, and the Navitas logo are trademarks or registered trademarks of Navitas Semiconductor Limited and affiliates. All other brands, product names, and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
Investor Relations Contacts:
Shelton Group
Leanne Sievers | Brett Perry
nvts-ir@sheltongroup.com
Cautionary Statement Regarding Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are attempts to predict or indicate future events or trends or similar statements that are not a reflection of historical fact. Forward-looking statements may be identified by the use of words such as “we expect” or “are expected to be,” “estimate,” “plan,” “project,” “forecast,” “intend,” “anticipate,” “believe,” “seek,” or other similar expressions. Forward-looking statements are based on current expectations of the management of Navitas and are not predictions of actual future performance. Our businesses are subject to certain risks that could materially and adversely affect our respective business, financial condition, results of operations, or the value of our securities. You are encouraged to review these and other risk factors set forth in the Risk Factors section of our most recent annual report on Form 10-K, as updated in our most recent quarterly report on Form 10-Q, and in other documents we file with the SEC.
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FAQ
What leadership change did Navitas Semiconductor (NVTS) announce on March 11, 2026?
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How will the $4.5 million recruitment RSU award for NVTS CFO Tonya Stevens vest?
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