Wolfspeed (NYSE: WOLF) adds Andreas Mattes to board, grants $500k RSUs
Rhea-AI Filing Summary
Wolfspeed, Inc. filed an amendment to a prior report to correct information about the election of Andreas (“Andy”) W. Mattes to its Board of Directors and Compensation Committee, effective July 28, 2026. Mattes, age 65, is a former Coherent CEO and long-time technology executive. His compensation includes annual cash retainers of $80,000 for board service and $10,000 for Compensation Committee service, plus RSU awards with an initial grant-date fair value of $500,000 and ongoing annual RSUs valued at $200,000. The Board determined he qualifies as an independent director and he will enter into the company’s standard indemnification agreement.
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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
Director age: 65
Annual board cash retainer: $80,000
Compensation Committee retainer: $10,000
+3 more
6 metrics
Director age
65
Age of Andreas W. Mattes at the time of appointment
Annual board cash retainer
$80,000
Yearly cash retainer for Wolfspeed board service
Compensation Committee retainer
$10,000
Additional annual cash retainer for Compensation Committee service
Initial RSU award value
$500,000
Grant-date fair value of initial restricted stock unit award
Annual RSU award value
$200,000
Grant-date fair value of recurring annual RSU award
Appointment effective date
July 28, 2026
Date Andreas W. Mattes joined the Board and Compensation Committee
Key Terms
restricted stock units, indemnification agreement, independent director, Compensation Committee
4 terms
restricted stock units financial
"will receive an initial equity award of restricted stock units (“RSUs”)"
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.
indemnification agreement regulatory
"will enter into the Company’s standard indemnification agreement for directors and officers"
An indemnification agreement is a contract in which one party promises to cover losses, costs, or legal claims that another party might face, acting like a tailored safety net or private insurance policy. For investors, it matters because such agreements shift potential financial risk away from a company or its officers and onto the indemnifier, which can affect a company’s future liabilities, cash flow and how risky the investment appears during deal-making or litigation.
independent director regulatory
"The Board determined that Mr. Mattes satisfies the New York Stock Exchange definition of “independent director.”"
An independent director is a member of a company's board of directors who is not involved in the company's day-to-day operations and has no significant relationships with the company that could influence their judgment. Their role is to provide unbiased oversight and ensure the company is managed in the best interests of all shareholders. This helps build trust and confidence among investors by promoting transparency and accountability.
Compensation Committee regulatory
"appointed Andreas (“Andy”) W. Mattes as a member of the Board and as a member of the 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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What change involving the board does Wolfspeed (WOLF) report?
Wolfspeed reports the election of Andreas (“Andy”) W. Mattes to its Board of Directors and Compensation Committee, effective July 28, 2026, via an amendment that corrects earlier information about this director appointment.
What roles will Andreas W. Mattes hold at Wolfspeed (WOLF)?
Andreas W. Mattes will serve as a member of the Board of Directors and as a member of the Compensation Committee. These appointments were made by the Board of Wolfspeed and became effective immediately on July 28, 2026.
How is new director Andreas W. Mattes compensated at Wolfspeed (WOLF)?
Andreas W. Mattes receives an annual cash retainer of $80,000 for board service and $10,000 for Compensation Committee service. He is also eligible to participate in Wolfspeed’s 2025 Management Incentive Compensation Plan.
What equity awards will Andreas W. Mattes receive from Wolfspeed (WOLF)?
Andreas W. Mattes will receive an initial RSU grant valued at $500,000, vesting over three years, and an ongoing annual RSU award valued at $200,000, vesting in full on each first anniversary of grant, subject to standard terms.
Is Andreas W. Mattes considered independent at Wolfspeed (WOLF)?
Wolfspeed’s Board determined that Andreas W. Mattes meets the New York Stock Exchange definition of an independent director. The company also states he is not involved in transactions requiring disclosure under Item 404(a) of Regulation S-K.