FuelCell Energy, Inc. Announces Executive Changes

FuelCell Energy, Inc. has announced a change in its principal financial and accounting officers. Michael S. Bishop will transition from his role as Executive Vice President, Chief Financial Officer, and Treasurer to Senior Advisor to the Chief Executive Officer, effective October 6, 2026. He will continue in this advisory role for six months, receiving an annualized base salary of $461,591.00. Following this transition period, Mr. Bishop will be eligible for severance benefits, including a payment of $461,591.00 (12 months' salary), accelerated vesting of certain stock units, and continued medical benefits for up to 12 months. Concurrently, Matthew Latino has been appointed as the new Executive Vice President, Chief Financial Officer, and Treasurer, effective October 7, 2026. Mr. Latino's compensation package includes an annual base salary of $460,000, a target annual bonus of 70% of his base salary, a long-term incentive award target of $1,000,000 for fiscal year 2027, a $120,000 sign-on bonus, and a $400,000 restricted stock unit grant. The agreement also outlines severance benefits for Mr. Latino in case of termination without cause or for good reason, including 12 months of base salary and continued COBRA payments.