Aptera Motors extends CFO engagement and adjusts stock option terms

Aptera Motors Corp. filed a Current Report on Form 8-K with the Securities and Exchange Commission on October 21, 2026, detailing amendments to the employment contract of Interim Chief Financial Officer Tom DaPolito. The company, which trades on the Nasdaq Capital Market under the ticker SEV, announced that its Board of Directors approved an amendment to the engagement letter originally dated August 25, 2025. The changes take effect immediately as of October 16, 2026.

The amendment modifies three specific provisions of the existing agreement. First, it extends the term of the engagement through October 16, 2027, unless the agreement is terminated earlier according to its terms. Second, it stipulates that all of DaPolito's outstanding and unvested stock options will vest in full immediately upon a change of control of the company, regardless of whether his employment continues or ends. Third, the amendment extends the period during which DaPolito may exercise his vested stock options to three years following any termination of his engagement, provided that the exercise does not occur beyond the original expiration date of the options. This extension applies to any termination except those where the company terminates DaPolito for Cause, as defined in the engagement agreement.

All other terms of the original engagement agreement remain in full force and effect. The filing notes that the description of the amendment is qualified by reference to the full text of the document, which is filed as Exhibit 10.1 to the report. The company identified itself as an emerging growth company in the filing. Chris Anthony, Co-Chief Executive Officer of Aptera Motors Corp., signed the report on behalf of the registrant.