Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 13, 2025, the Board of Directors (the “Board”) of zSpace, Inc. (the “Company”), based on the recommendation of the Compensation Committee of the Board (the “Compensation Committee”), approved a base salary increase for each of Paul Kellenberger, Chief Executive Officer of the Company, Erick DeOliveira, Chief Financial Officer of the Company, Michael Harper, Chief Product, Engineering and Marketing Officer of the Company, and Ron Rheinheimer, Chief Sales Officer of the Company (collectively, the “NEOs”), with such increase to be effective as of March 1, 2025.
In approving the compensation changes for the NEOs, the Board and the Compensation Committee considered, among other factors, the compensation practices, trends and data from comparable companies as identified by the Compensation Committee and an independent compensation consultant engaged by the Compensation Committee, and adjusted the NEO’s compensation to move toward the 50th percentile of public company peers.
Effective March 1, 2025, Mr. Kellenberger’s annual base salary will be increased to $500,000 (an increase of 25%), Mr. DeOliveira’s annual base salary will be increased to $400,000 (an increase of 33.3%), Mr. Harper’s annual base salary will be increased to $400,000 (an increase of 23%), and Mr. Rheinheimer’s annual base salary will be increased to $300,000 (an increase of 20%).
