Twin Vee shifts CEO to at-will after 2026

Twin Vee PowerCats Co. reported a change in its CEO’s contract structure.

Rhea-AI Filing Summary

Twin Vee PowerCats Co. reported a change in its CEO’s contract structure. On May 17, 2026, the company delivered a notice that it will not renew the Employment Agreement with Joseph Visconti that became effective on July 23, 2021. The agreement’s Initial Term will continue unchanged until it expires on July 23, 2026, and all existing terms remain in effect until that date.

The company stated that the non-renewal was not due to any disagreement between Mr. Visconti and the company on any matter. After July 23, 2026, Mr. Visconti will continue serving as Chief Executive Officer, Interim Chief Financial Officer and President on an at-will basis, rather than under a fixed-term contract.

Insights

Corporate governance analyst

CEO contract shifts from fixed term to at-will with role continuity.

The company is allowing Joseph Visconti’s Employment Agreement to run its course through the Initial Term ending on July 23, 2026, without renewal. This keeps all existing contractual protections and obligations in place until that expiration date.

The filing clarifies that the non-renewal is not driven by any disagreement, which reduces concern about immediate conflict or instability. After the Initial Term, Mr. Visconti will continue as Chief Executive Officer, Interim Chief Financial Officer and President on an at-will basis, giving the board more flexibility around future leadership decisions.

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

Employment Agreement effective date: July 23, 2021 Initial Term expiration: July 23, 2026 Non-renewal notice date: May 17, 2026

3 metrics

Employment Agreement effective date July 23, 2021 Effective date of Joseph Visconti’s Employment Agreement

Initial Term expiration July 23, 2026 Expiration date of the Employment Agreement’s Initial Term

Non-renewal notice date May 17, 2026 Date the company delivered the non-renewal notice

Key Terms

Employment Agreement, Initial Term, at-will basis, emerging growth company

4 terms

Employment Agreement financial

"pursuant to the terms of the Employment Agreement, effective as of July 23, 2021"

Initial Term financial

"beyond the Initial Term (as defined in the Employment Agreement), which will remain in full force"

at-will basis financial

"Mr. Visconti will continue to serve as the Company’s Chief Executive Officer, Interim Chief Financial Officer and President on an at-will basis"

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

What change did Twin Vee PowerCats Co. (VEEE) make to its CEO’s contract?

Twin Vee PowerCats Co. gave notice it will not renew Joseph Visconti’s Employment Agreement beyond its Initial Term ending July 23, 2026. The contract remains fully in force until then, after which he will continue in his roles on an at-will basis.

When does Joseph Visconti’s current Employment Agreement with VEEE expire?

Joseph Visconti’s Employment Agreement runs through the Initial Term, which expires on July 23, 2026. Until that date, the agreement remains in full force and effect according to its existing terms and conditions set when it became effective July 23, 2021.

Will Joseph Visconti remain CEO of Twin Vee PowerCats Co. after July 23, 2026?

Yes. The company stated that after July 23, 2026, Joseph Visconti will continue serving as Chief Executive Officer, Interim Chief Financial Officer and President, but on an at-will basis instead of under the expiring fixed-term Employment Agreement.

Did the non-renewal of the VEEE CEO Employment Agreement involve any disagreement?

The company explicitly stated the non-renewal of Joseph Visconti’s Employment Agreement was not due to any disagreement between him and the company on any matter. This frames the decision as a contractual and structural change rather than a result of conflict.

Where can investors find the full text of Joseph Visconti’s Employment Agreement with VEEE?

The full Employment Agreement is available as Exhibit 10.7 to Twin Vee PowerCats Co.’s Registration Statement on Form S-1/A, File No. 333-255134, which was filed with the Securities and Exchange Commission on June 17, 2021 for public reference.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/20/2026 - 04:02 PM Learn about SEC filing dates

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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

Date of Report (Date of earliest event reported): May 17, 2026

Twin Vee PowerCats Co.

(Exact name of registrant as specified in its charter)

Nevada		001-40623		27-1417610
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

3101 S. US-1

Ft. Pierce, Florida 34982

 (Address of principal executive offices)

(772) 429-2525

 (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 (see General Instruction A.2. below):

☐	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(s)		Name of each exchange on which registered
Common stock, par value $0.001 per share		VEEE		The Nasdaq Stock Market LLC (Nasdaq Capital Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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 May 17, 2026, Twin Vee PowerCats Co. (the “Company”) delivered a notice of non-renewal (the “Notice”) pursuant to the terms of the Employment Agreement, effective as of July 23, 2021, with Joseph Visconti (the “Employment Agreement”). The Notice shall be treated as a non-renewal of the Employment Agreement beyond the Initial Term (as defined in the Employment Agreement), which will remain in full force and effect through the expiration of the Initial Term on July 23, 2026 in accordance with its full terms and conditions. The non-renewal was not due to any disagreement between Mr. Visconti and the Company on any matter.

Following July 23, 2026, Mr. Visconti will continue to serve as the Company’s Chief Executive Officer, Interim Chief Financial Officer and President on an at-will basis.

The foregoing summary of the Employment Agreement does not purport to be complete and is subject to and qualified in its entirety by reference to the full text of the Employment Agreement, a copy of which was filed as Exhibit 10.7 to the Company’s Registration Statement on Form S-1/A (File No. 333-255134), filed with the Securities and Exchange Commission on June 17, 2021.

SIGNATURES

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

Date: May 20, 2026	TWIN VEE POWERCATS CO.
	By:	/s/ Joseph Visconti
	Name:	Joseph Visconti
	Title:	Chief Executive Officer, Interim Chief Financial Officer and President

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL SCHEMA FILE 2.9 KB
• EX-101 XBRL LABEL FILE 33.4 KB
• EX-101 XBRL PRESENTATION FILE 21.8 KB