Michael Mo
About Michael Mo
Michael Mo, age 54, has served as KULR’s Chief Executive Officer and Chairman since March 2011; he co-founded KULR Technology, Inc. in 2013 and holds an M.S. in Electrical Engineering from UC Santa Barbara (1995) . Fiscal performance under his leadership shows 2024 revenue of $10.74M and net loss of $(17.52)M versus $9.83M revenue and $(23.69)M net loss in 2023, while TSR (value of a $100 investment) moved to $128.62 in 2024 from $6.88 in 2023 (reverse-split adjusted) . He is both CEO and Chairman with a Lead Independent Director structure in place to mitigate combined-role governance concerns .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Amlogic, Inc. | Senior Director of Business Development | 2007–2015 | Led BD at a high-tech company; built technology management and product marketing expertise |
| KULR Technology, Inc. | Co-founder; CEO | Co-founded 2013; CEO since 2013 | Founded core operating entity; drives product development and commercialization |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed | — | — | No public external directorships disclosed in proxy statements |
Fixed Compensation
Multi-year CEO cash and reported equity compensation:
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $306,159 | $333,649 | $272,196 |
| Bonus ($) | $0 | $0 | $100,000 |
| Stock Awards ($) | $1,443,000 | $0 | $103,043 |
| Option Awards ($) | $0 | $0 | $0 |
| Total ($) | $1,749,159 | $333,649 | $475,239 |
Notes:
- On May 23, 2024, the Board reduced Mo’s salary by $112,344 and granted 35,779 RSUs vesting over one year; a $100,000 cash bonus was approved on December 26, 2024 .
Performance Compensation
Key incentive awards and mechanics for Michael Mo:
| Incentive Type | Metric | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Discretionary Cash Bonus (2024) | Discretionary (no formal metrics disclosed) | Not disclosed | Not disclosed | $100,000 | N/A |
| RSU Grant (May 23, 2024) | Service-vesting | Not disclosed | 35,779 RSUs | $103,043 grant-date fair value | One-year cliff |
| Equity Modification (2022) | Time-based vesting replaced market-cap milestones | Not disclosed | 1,500,000 shares | $1,443,000 reported stock awards | 25% annually over 4 years |
Plan-level terms (2025 Equity Incentive Plan) allow performance awards on metrics such as revenue, EPS, TSR, margins, ROIC, and strategic milestones; vesting acceleration can occur at change-in-control subject to continuity/assumption exceptions .
Equity Ownership & Alignment
Beneficial ownership, voting control, and unvested awards:
| Item | As-of Date | Amount | Notes |
|---|---|---|---|
| Common shares beneficially owned | Sep 24, 2025 | 2,668,612 | 2,493,612 directly + 175,000 jointly with spouse; excludes sons’ shares; strong personal stake |
| Ownership % of common | Sep 24, 2025 | 6.27% | Based on 42,562,240 shares outstanding |
| Series A Voting Preferred | Sep 24, 2025 | 1,000,000 shares; 100 votes/share → 100,000,000 votes | Mo holds 100% of Series A; super-voting control |
| Percent vote incl. Series A | Sep 24, 2025 | 72.02% | Aggregate vote control at record date |
| Unvested RSUs (CEO) | Dec 31, 2024 | 129,529 shares | Market value $3,678,617 |
| Restricted stock not within 60 days | Sep 24, 2025 | 437,500 shares (not included in beneficial tally) | Excluded under SEC 60-day rule |
Pledging/Hedging: Awards under the 2025 Plan cannot be pledged or encumbered; the Company maintains an Insider Trading Policy, though specific hedging/pledging prohibitions for common shares are not detailed in the proxies .
Stock Ownership Guidelines: Not disclosed in proxies .
Employment Terms
- Employment agreement: KULR has not entered into employment agreements with officers or directors; salaries and bonuses are at Board discretion .
- Severance/Change-in-Control: No severance multiples or golden parachute terms disclosed; under the 2025 Plan, service-vesting awards accelerate at change-in-control and performance awards may vest based on actual or target achievement, except when awards are continued/assumed on substantially similar terms .
- Clawback policy: Adopted Nov 29, 2023 (Dodd-Frank compliant). Awards are subject to recoupment for restatements or policy violations; plan documents permit unilateral amendments to comply with clawback policy .
- Tax gross-ups, non-compete, non-solicit, garden leave, deferred comp: Not disclosed in proxies .
Board Governance
- Leadership and independence: Mo is both CEO and Chairman; the Board instituted a Lead Independent Director role to strengthen independent oversight and agenda control .
- Attendance: Board met 7 times in 2024 with 100% attendance at Board and committee meetings .
Committee structure and roles:
| Committee | Members | Chair |
|---|---|---|
| Audit | Donna H. Grier; Dr. Joanna Massey; Aron Schwartz | Donna H. Grier (Audit Committee Financial Expert) |
| Compensation | Dr. Joanna Massey; Donna H. Grier; Aron Schwartz | Aron Schwartz (previously Dr. Massey) |
| Nominating & Corporate Governance | Dr. Joanna Massey; Donna H. Grier; Aron Schwartz | Dr. Joanna Massey |
Director Compensation
Independent director pay framework:
| Role | 2024 Annual Cash Retainer | 2025 Annual Cash Retainer | Equity Grants / Notes |
|---|---|---|---|
| Lead Independent Director | $150,000 | $150,000 | 17,500 RSUs vesting quarterly; 1,875 immediate shares; additional grants in 2024 |
| Non-Lead Independent Director | $95,000 | $70,000 | RSU grants; quarterly vesting; 2024 board equity grants detailed |
Performance & Track Record
Financial performance:
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenue ($) | $9,830,166 | $10,737,481 |
| Net Loss ($) | $(23,693,556) | $(17,523,629) |
TSR and pay-vs-performance context (reverse-split adjusted):
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Value of $100 Investment (TSR) | $43.48 | $6.88 | $128.62 |
| Net Income (Loss) ($) | $(19,436,479) | $(23,693,556) | $(17,523,629) |
Strategic initiatives (context): 2024 introduced IP licensing revenue ($2.69M) boosting gross margins to 51%; KULR also adopted Bitcoin as treasury reserve, accumulating ~$20.28M fair value by year-end 2024, financed primarily via ATM equity issuance .
Investment Implications
- Alignment and control: Mo’s sizable equity stake combined with 100% ownership of super-voting Series A Preferred yields 72% voting power, providing strategic continuity but elevating governance risk around minority rights and entrenchment .
- Pay-for-performance: 2024 compensation included a salary cut and modest RSU grant with one-year vesting alongside a discretionary cash bonus; absence of disclosed quantitative bonus metrics tempers pay-for-performance confidence, though equity remains a material component of total compensation over time .
- Vesting and potential selling pressure: Unvested RSUs (129,529 shares; $3.68M) and other awards will settle over time; while awards cannot be pledged, post-vesting sales could create episodic supply—monitor filings for 10b5-1 plans and Form 4 activity .
- Change-in-control economics: No severance multiples disclosed; plan-level acceleration on awards exists, reducing retention risk in a transaction but increasing dilution risk upon CIC; lack of cash parachutes reduces shareholder payout burden .
- Strategic execution risk: Transition to higher-margin licensing and adoption of Bitcoin as a treasury asset improves gross margin optics but introduces crypto-related volatility to reported other income and treasury management—monitor capital market usage and digital asset risk controls .