Origin Materials, Inc. Announces Plan of Dissolution and Restructuring

Origin Materials, Inc. has announced a significant strategic shift, with its Board of Directors approving a plan for the Company's dissolution and liquidation, subject to stockholder approval. This decision, effective May 1, 2026, is accompanied by a reduction-in-force of approximately 59% of its workforce, aiming to reduce annual operating expenses by $14.0 million and facilitate the orderly sale of its technology and assets. The Company anticipates incurring approximately $2.1 million in restructuring charges, primarily for severance and benefits, expected to be largely settled by the end of the second quarter of 2026. In connection with these changes, John Bissell has stepped down as CEO but will remain on the Board, while Matt Plavan has been appointed Interim CEO. Both Mr. Plavan and General Counsel Joshua Lee have entered into amended retention agreements, which include a 25% base salary increase and a retention bonus, contingent upon providing releases of claims and continued service through the wind-down process. The Company will file proxy materials for a special stockholder meeting to approve the dissolution plan.