Wenjuan Mattis - Chief Technology Officer | Microvast Holdings (MVST) Executive Profile & Compensation

About Wenjuan Mattis

Dr. Wenjuan Mattis, age 44, is Chief Technology Officer of Microvast (MVST). She joined Microvast in 2013 and was appointed CTO on January 1, 2018, leading development of battery materials, cells, modules, and packs from R&D through production; she previously served as VP of Technology (2015–2017) and Chief Scientist (2013–2014), and before that was a Senior Research Engineer at Dow Chemical (2010–2013) . External credentials include election in May 2016 to the Board of the International Meeting on Lithium Batteries Association and serving since June 2013 as Vice President of the International Automotive Lithium Battery Association; she holds a B.S. in Aerospace Engineering (Fudan University) and a Ph.D. in Materials Science & Engineering (Penn State), has worked on Li-ion technology for 18+ years, authored 22 papers, and holds 120 patents . Company performance during her senior tenure shows FY revenues rising from $204.5M (2022) to $379.8M (2024) while net losses persisted; relative TSR over 1/1/2022–12/31/2024 was -53.53% with 30th percentile performance vs the peer group .

Past Roles

Organization	Role	Years	Strategic Impact
Microvast	Chief Technology Officer	Appointed Jan 1, 2018	Leads end-to-end battery tech from R&D through production
Microvast	Vice President of Technology	Jan 2015–Dec 2017	Advanced materials/cell development for electrified applications
Microvast	Chief Scientist	Oct 2013–Dec 2014	Early-stage R&D leadership in Li-ion battery tech
Dow Chemical (Midland, MI)	Senior Research Engineer	Mar 2010–Oct 2013	Led battery projects developing materials and cells for EVs/consumer electronics

External Roles

Organization	Role	Years	Strategic Impact
International Meeting on Lithium Batteries Association	Board of Directors (youngest member)	Elected May 2016	Contributes to global Li-battery scientific/industry discourse
International Automotive Lithium Battery Association	Vice President	Since June 2013	Industry leadership and standards influence in automotive Li-ion

Fixed Compensation

Not disclosed: Dr. Mattis is not a named executive officer (NEO) in FY2024; Microvast is a smaller reporting company and thus provides reduced compensation disclosure limited to NEOs (CEO, COO, President/GC) .

Performance Compensation

Metric	Weighting	Target	Actual	Payout	Vesting
Relative TSR (Company-wide 2022 PSU program; CEO participation)	PSU program payout scaled 50%–150% of target (0% below threshold)	50th percentile vs predetermined peer group	30th percentile over 1/1/2022–12/31/2024	60% of target earned	Following Compensation Committee certification post period-end

Long-term incentive design uses RSUs (time-vested) and PSUs (relative TSR vs peer group); awards are typically approved annually in December (with ad hoc grants as needed) .

Equity Ownership & Alignment

Holder	Shares Beneficially Owned	Exercisable Options	Percent of Shares Outstanding	Policies
Wenjuan Mattis	2,606,788	1,923,599	Less than 1%	Anti-hedging and anti-pledging policy prohibits hedging and pledging/margin accounts; pre-approval required for insider transactions

Section 16(a) compliance: One late filing by Dr. Mattis reporting one transaction was noted for the preceding year .
Alignment note: The presence of 1.92M presently exercisable options indicates substantial vested equity that could translate into share sales upon exercise, subject to trading windows and company policy .

Employment Terms

Role and tenure: CTO since January 1, 2018; joined Microvast in 2013 .
Contract/severance specifics: The proxy does not present an employment agreement or severance terms for Dr. Mattis; NEO employment/severance details are disclosed for CEO/COO/President only .

Performance & Track Record

Metric	FY 2022	FY 2023	FY 2024
Revenue ($)	204,495,000	306,617,000	379,801,000
EBITDA ($)	-139,455,000*	-85,250,000*	5,257,000*
Net Income ($)	-158,200,000	-106,336,000	-195,457,000

Relative TSR over 1/1/2022–12/31/2024: -53.53%; achieved 30th percentile vs peer group; PSUs earned at 60% of target for CEO .
Litigation context (execution/governance risk): Ongoing securities class action (Schelling v. Microvast) and consolidated derivative actions; portions of motions to dismiss granted/denied; derivative action stayed; additional Chancery derivative filings related to SPAC transaction disclosures; indemnification of certain defendants per agreements .

Values retrieved from S&P Global for EBITDA.*

Compensation Governance and Policies

Compensation Committee independence and use of FW Cook as independent advisor; committee met four times in FY2024 .
Clawback policy adopted per Nasdaq rules to recoup excess incentive compensation upon accounting restatements, irrespective of misconduct .
Equity award timing practice avoids coordination with MNPI; annual grants typically approved in December .
Say-on-pay: As an emerging growth company during 2024, Microvast was not required to hold advisory say-on-pay/frequency votes .

Investment Implications

Alignment: Large vested option position (1.92M exercisable) creates potential overhang if exercised; anti-pledging/hedging limits misalignment risks, and clawback policy strengthens governance .
Retention risk: Absence of disclosed individual employment/severance terms for the CTO reduces visibility into retention economics; equity cadence suggests ongoing alignment via options/RSUs but specifics are undisclosed .
Performance signals: Revenue growth FY2022–FY2024 and EBITDA improvement to positive* contrast with continued net losses, while relative TSR underperformed peers (30th percentile), implying incentive payouts tied to TSR were moderated (60% of target) .
Execution/governance: Active litigation and derivative actions elevate governance and distraction risks; indemnification obligations noted in filings .