Microvast (MVST) Proxy Filing summary

Executive summary

• The annual meeting will be held virtually on October 18, 2024, to elect three Class III directors and ratify the appointment of Deloitte as the independent auditor for fiscal 2024.

• Only stockholders of record as of August 21, 2024, are entitled to vote; 316,887,855 shares are outstanding.

• The company is currently non-compliant with Nasdaq's minimum bid price rule but is exploring options to regain compliance within the allowed period.

• Proxy materials are primarily distributed online, with voting available via internet, phone, or mail.

Voting matters and shareholder proposals

• Stockholders will vote on electing three Class III directors (Yang Wu, Isida Tushe, Yixin Pan) for three-year terms and ratifying Deloitte as the independent auditor.

• The board recommends voting FOR all director nominees and FOR auditor ratification.

• No other business is expected, but proxies may vote on other matters if properly presented.

• Proposals for the 2025 meeting must be received by April 25, 2025, for inclusion in the proxy statement.

Board of directors and corporate governance

• The board has five directors, with two vacancies; three are independent under Nasdaq rules.

• The board is divided into three classes with staggered three-year terms.

• Committees include Audit, Compensation, and Nominating & Corporate Governance, all with independent members.

• Board diversity meets Nasdaq requirements, with at least one female and one underrepresented minority.

• Annual board and committee self-assessments are conducted.