Harsh Rungta
Senior Vice President, Finance and Chief Accounting Officer at ACHR
Executive
About Harsh Rungta
Archer Aviation appointed Harsh Rungta as Senior Vice President, Finance and Chief Accounting Officer (principal accounting officer) effective March 31, 2025. He is 43, joined from Tesla where he served as Director, Accounting Controllership since April 2024 and previously Director, Automotive Revenue & Energy Business Controller from October 2018; prior to Tesla he spent 12+ years in PwC’s audit and assurance practice. He holds a Bachelor of Commerce from Delhi University, is a Chartered Accountant (India), and a California CPA (inactive) . For context on Archer’s performance framework, the company reported one-year TSR of 58.8% and three-year annualized TSR of 17.3% through year-end 2024, and added PSUs tied to relative TSR to the NEO equity mix in 2024 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Tesla, Inc. | Director, Accounting Controllership | Apr 2024–Mar 2025 | Led corporate controllership for a large-scale OEM; senior financial reporting and controls leadership |
| Tesla, Inc. | Director, Automotive Revenue & Energy Business Controller | Oct 2018–Apr 2024 | Oversaw revenue and business controlling for Automotive and Energy units |
| PricewaterhouseCoopers LLP | Audit & Assurance (various roles) | 12+ years (pre-2018) | Big Four audit/assurance experience across complex reporting and controls |
External Roles
- Not disclosed in company filings reviewed.
Fixed Compensation
| Component | Amount/Structure | Terms/Notes |
|---|---|---|
| Base salary | $375,000 | Per Offer Letter dated Mar 18, 2025; effective Mar 31, 2025 |
| Target bonus | Up to $200,000 | Eligible under Company employee bonus plan; metrics not specified in 8‑K |
| Sign‑on cash bonus | $200,000 | One‑time; per Offer Letter |
| Relocation bonus | $50,000 | One‑time; per Offer Letter |
| Sign‑on equity | RSUs with value = $2,000,000 ÷ average ACHR closing price for March 2025 | Granted under A&R 2021 Equity Incentive Plan; share count determined by formula; vesting terms not disclosed in 8‑K |
| Annual refresh equity | RSUs (value not disclosed) | Eligible under annual refresh program; 2021 Plan |
Performance Compensation
- Annual bonus plan: eligible with a target up to $200,000; specific performance metrics/weightings for Mr. Rungta were not disclosed in the 8‑K appointment filing .
- Company compensation context (NEO program): in 2024 Archer emphasized formulaic bonuses linked to strategic milestones and added PSUs tied to relative TSR; say‑on‑pay support was 99.6% in 2024 .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Initial beneficial ownership | Form 3 filed Apr 9, 2025 reports “No securities are beneficially owned” as of Mar 31, 2025 . |
| Anticipated equity | Sign‑on RSUs valued at $2,000,000 based on March 2025 average price; annual refresh RSUs eligible thereafter (share counts/vesting not disclosed) . |
| Anti‑hedging/pledging | Insider Trading Policy prohibits hedging and shorting, and generally prohibits pledging without prior approval . |
| Clawback | Company has an executive Compensation Recovery Policy compliant with Rule 10D‑1/NYSE; enables recoupment of incentive compensation upon certain restatements and in cases of fraud/intentional misconduct . |
| Ownership guidelines | Not disclosed in reviewed filings. |
Employment Terms
| Topic | Terms |
|---|---|
| Start date/role | Effective Mar 31, 2025; SVP Finance & Chief Accounting Officer (principal accounting officer) . |
| Change‑in‑Control & Severance | Entered Company’s standard form of Change in Control and Severance Agreement (form previously filed May 12, 2022) . Per the proxy, “Eligible Executive Officers” (ex‑CEO) generally receive: (i) non‑CIC termination without cause/for good reason—12 months base salary lump sum, pro‑rata bonus if earned, COBRA premium lump sum for same period, and 12 months additional time‑based equity vesting; (ii) CIC double‑trigger (within 3 months before/18 months after)—12 months base salary plus 100% of target bonus lump sum, pro‑rata target bonus, COBRA lump sum, and 100% vesting of unvested time‑based equity; performance awards excluded from automatic vest if performance not met; no 280G/4999 tax gross‑ups; subject to release . |
| Non‑compete / other covenants | Not disclosed in reviewed filings. |
Investment Implications
- Alignment and retention: Initial Form 3 shows no holdings at appointment; the $2m sign‑on RSU grant and eligibility for refresh RSUs build equity alignment over time. Anti‑hedging/pledging restrictions and the clawback policy strengthen alignment and risk controls .
- Severance/CIC economics: Standard double‑trigger CIC and 12‑month severance framework reduce executive flight risk during strategic inflection points without shareholder‑unfriendly tax gross‑ups .
- Supply/insider‑selling watch‑outs: Future RSU grants/vesting will create potential supply over time; monitor Section 16 Form 4 filings for award grants, vesting settlements, or sales as they occur (no initial holdings per Form 3) .
- Role stability: Following the July 2025 CFO transition, Rungta continues as principal accounting officer, underscoring continuity in Archer’s finance function during leadership changes .
Additional context on Archer’s compensation governance: introduction of relative‑TSR PSUs for NEOs in 2024 and strong say‑on‑pay support (99.6%) suggest a pay framework focused on shareholder outcomes, though Mr. Rungta’s specific metrics/vesting schedules were not disclosed in his 8‑K .
Primary sources: Appointment 8‑K (offer terms, background), Form 3 (initial ownership), 2025 Proxy (policies and severance), and July 2025 8‑K (finance leadership continuity).
Citations:
- Appointment/comp terms, background, education/credentials, age:
- Initial beneficial ownership (Form 3):
- Insider Trading Policy (anti‑hedging/pledging):
- Clawback policy:
- Executive severance/CIC framework:
- Company TSR and compensation program highlights:
- CFO transition and Rungta’s continued role as principal accounting officer: