Current Report · Items 5.02 · 8-K
MATTERNET INC
MTTNOTCEQUITYCurrent
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 28, 2026, the Board of Directors of Matternet, Inc. (“Matternet”), appointed Sanjay Shah as a Class III director to serve until the 2029 annual meeting of stockholders.…
Company context
Matternet was founded on a simple idea: the movement of physical goods should become as seamless as the movement of information. Our name reflects that vision: a network for matter.
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Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 28, 2026, the Board of Directors of Matternet,
Inc. (“Matternet”), appointed Sanjay Shah as a Class III director to serve until the 2029 annual meeting of stockholders.
Sanjay
Shah, age 58, has served as Executive Vice President, Chief Supply Chain Officer of Starbucks Corporation since March 2025. From 2021
to March 2025, Mr. Shah served as Senior Vice President, Operations of GoBrands, Inc. (d.b.a. GoPuff). From 2019 to 2021, Mr. Shah served
as Chief Operating Officer of Beyond Meat, Inc. From 2018 to 2019, Mr. Shah served as Senior Vice President of Energy Operations at Tesla,
Inc. From 2011 to 2018, Mr. Shah held a variety of leadership roles at Amazon.com, Inc. with increasing levels of responsibility, including
as regional director for various regions from 2011 to 2015, and as Vice President of North American Fulfillment Centers from 2015 to
2018. From 2009 to 2011, Mr. Shah served as Managing Director, Southeast Asia for MFG.com. From 2000 to 2009, Mr. Shah served as an Executive
Director for Dell Inc. Mr. Shah received his B.S. in Mechanical Engineering from the University of Tennessee.
In connection with his appointment, Mr. Shah was
granted a stock option to purchase 375,000 shares of common stock pursuant to our 2026 Equity Incentive Plan with an exercise price of
$3.00 per share, vesting in equal monthly amounts over four years, subject to Mr. Shah’s continued service through each vesting
date. Mr. Shah also entered into our standard form of indemnification agreement, which is filed as Exhibit 10.2 to our Current Report
on Form 8-K, filed with the Securities and Exchange Commission on May 29, 2026.
There
is no arrangement or understanding between Mr. Shah and Matternet or any other person pursuant to which Mr. Shah was selected as a director.
Additionally, there are no transactions involving Matternet and Mr. Shah that are required to be reported pursuant to Item 404(a) of
Regulation S-K.