Mohit Singh
QuantumScapeAbout Mohit Singh
Dr. Mohit Singh is QuantumScape’s Chief Development Officer (CDO), serving in this role since 2015; he is 46 years old as of April 1, 2025 . His academic credentials include a B.Tech. in Chemical Engineering from IIT Bombay and a Ph.D. in Chemical & Biomolecular Engineering from Tulane University; he completed postdoctoral research in Chemical Engineering at Lawrence Berkeley National Laboratory . The company’s 2024 compensation design emphasizes at-risk, performance-linked pay via RSUs and PSUs; the 2024 corporate bonus plan achieved 11 of 14 weighted goals (125% payout), reinforcing a pay-for-performance framework tied to technical development, production, and commercialization milestones rather than pure financial metrics (TSR, revenue, EBITDA not disclosed for executive-specific payout) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| QuantumScape | Vice President, Development | Not disclosed | Executive progression within QS development organization |
| Seeo Inc (acquired by Bosch GmbH) | Co‑founder & CTO | Not disclosed | Built solid‑state battery startup; later acquired by Bosch |
| Arkema | Corporate Research | Not disclosed | Industrial materials R&D experience |
| Lawrence Berkeley National Laboratory (UC Berkeley) | Postdoctoral Researcher (Chemical Engineering) | Not disclosed | Advanced research foundation in electrochemistry/materials |
External Roles
No public company board roles or external directorships disclosed for Dr. Singh in the 2025 proxy .
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary Paid ($) | 406,765 | 435,291 | 483,885 |
| Base Salary Rate ($, approved) | — | — | 489,000 (effective Apr 1, 2024) |
| Target Annual Incentive Bonus (% of eligible earnings) | Not disclosed | 50% | 50% |
| Actual Bonus Paid ($) | 54,159 (cash, non‑equity plan) | — | 302,425 (paid in fully vested RSUs) |
| Actual Bonus Paid (RSUs #) | — | — | 62,572 (interim Aug 2024 + final Feb 2025) |
| All Other Compensation ($) | — | — | 1,460 |
Multi‑year compensation summary (pay mix and trend):
| Component ($) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary | 406,765 | 435,291 | 483,885 |
| Stock Awards (grant‑date FV) | 1,884,830 | 4,463,184 | 3,793,932 |
| Non‑Equity Incentive Plan Comp | 54,159 | — | — |
| All Other Compensation | — | — | 1,460 |
| Total | 2,345,753 | 4,898,474 | 4,279,277 |
Performance Compensation
Annual Incentive Bonus – 2024 Bonus Plan design and outcomes:
| Group | Description | Weighting / Potential Payout | Targets (#) | Actual Achieved (#) | Payout vs Target |
|---|---|---|---|---|---|
| A | Technical – cell specification and delivery achievement | 35% (one goal) | 1 | 1 | 35% |
| B | Technical/Operational/Commercial – cell demo, film/cell production, commercialization objectives | 10% per goal (10 goals = 100% max) | 10 | 8 | 80% |
| C | Corporate development – business growth drivers | 5% per goal (3 goals = 15% max) | 3 | 2 | 10% |
| Total | Weighted sum | 0–150% range | 14 | 11 | 125% payout |
Mohit Singh – 2024 bonus opportunity and payout:
| Item | Threshold ($) | Target ($) | Maximum ($) | Actual Payout ($) | Actual Payout (RSUs #) | Payout Timing |
|---|---|---|---|---|---|---|
| 2024 Bonus Plan (paid in fully vested RSUs) | 12,097 | 241,943 | 362,914 | 302,425 | 62,572 | Interim Aug 2024; final Feb 2025 |
Long‑Term Incentive Equity (2024 Refresh Awards):
| Award Type | Target Value ($) | Units Granted (#) | Vesting | Performance Status |
|---|---|---|---|---|
| RSUs | 3,491,507 | 291,932 | Time‑based: 1/4 on Aug 15, 2024; then 1/16 quarterly thereafter | N/A (time‑based) |
| PSUs | 3,491,507 (50% of refresh value) | 291,932 | 4 corporate milestones, each 25%; vest on first quarterly date after certification; deadlines by May 2027 | 1 milestone achieved as of Dec 31, 2024; 25% vested in Feb 2025 (≈72,983 PSUs) |
Notes:
- PSU milestones are linked to technical development and prototype cell delivery; specifics withheld for competitive reasons .
- The bonus plan payout was in fully vested RSUs to conserve cash, consistent with 2023 policy .
Equity Ownership & Alignment
Beneficial ownership (as of March 31, 2025):
| Holder | Class A Shares (#) | Class A (%) | Class B Shares (#) | All Common (#) | Voting % |
|---|---|---|---|---|---|
| Dr. Mohit Singh | 1,399,768 | <1%* | — | 1,399,768 | — |
Outstanding equity awards (as of Dec 31, 2024):
| Instrument | Count/Detail | Strike | Expiry | Status |
|---|---|---|---|---|
| Stock options (exercisable) | 539,713 (3/15/2017 grant) | 1.33 | 3/15/2027 | Outstanding |
| Stock options (exercisable) | 603,262 (6/5/2019 grant) | 2.38 | 6/5/2029 | Outstanding |
| Stock options (unexercisable, EPA Program) | 839,913 (12/16/2021 grant) | 23.04 | 12/16/2031 | All EPA options irrevocably waived/forfeited in Feb 2025 |
| Time‑based RSUs (unvested) | 255,440; MV $1,325,734 (at $5.19 on 12/31/24) | — | Ongoing | Vests 1/4 on Aug 15, 2024; then 1/16 quarterly |
| PSUs (unearned) | 291,932; MV $1,515,127 (at $5.19 on 12/31/24) | — | Ongoing | 25% milestone achieved by 12/31/24; vested Feb 2025 |
Alignment policies:
- Stock ownership guidelines: executives must hold stock ≥3x base salary; CEO 5x; directors 3x; compliance monitored, each executive/director either compliant or in phase‑in .
- Hedging/pledging: prohibited for all employees, executives, and directors; no margin accounts allowed .
Employment Terms
Change‑in‑Control (CIC) and severance:
- CIC Agreements for all NEOs (including Dr. Singh) were adopted in March 2021; initial 3‑year term with automatic 1‑year renewals unless non‑renewed with 90‑day notice; at‑will employment; severance subject to release of claims .
- “Change in control period”: from 3 months before to 12 months after a change in control .
- Golden parachute tax gross‑ups: not provided; executives receive greater of full or reduced payment for optimal after‑tax outcome (cut‑back) .
Potential payments upon termination (assuming 12/31/2024 values):
| Scenario | Salary Severance ($) | Bonus Severance ($) | COBRA ($) | Accelerated Vesting ($) |
|---|---|---|---|---|
| Termination without cause (outside CIC period) | 244,500 | 151,212 (committee discretion) | 12,421 | — |
| Double‑trigger (termination without cause or resignation for good reason in CIC period) | 489,000 | 302,425 | 24,841 | 4,740,593 |
Clawback:
- Compensation recovery policy approved October 2023 to recoup erroneously awarded incentive‑based compensation for accounting restatements, fraud, and materially injurious misconduct .
Investment Implications
- High equity mix with explicit technical/commercial milestones: 2024 PSUs (291,932 units) vest only upon milestone certification; 25% vested Feb 2025 with 3 remaining milestones through May 2027, strengthening pay‑for‑performance alignment and incentivizing execution on sample shipments, process scale‑ups, and commercialization .
- Predictable RSU supply from quarterly vesting: 2024 RSUs vest 1/4 on Aug 15, 2024 and 1/16 thereafter; ongoing quarterly settlements can create regular liquidity events for executives and potential incremental selling pressure, particularly around vest dates; bonus RSUs were fully vested at grant (Aug 2024 and Feb 2025), adding to near‑term supply .
- Option overhang reduced: all 2021 EPA Program options for NEOs were irrevocably waived/forfeited in Feb 2025, removing a large, out‑of‑the‑money option overhang for Dr. Singh (839,913 options at $23.04) and simplifying future dilution dynamics .
- Retention risk moderate: CIC arrangements are double‑trigger with 1x salary and 1x target bonus plus 100% equity acceleration in CIC scenarios; outside CIC, severance is 6 months salary and committee‑discretion bonus with no acceleration, balancing retention with shareholder protections .
- Alignment safeguards: strict no‑hedging/no‑pledging policy and ownership guidelines (3x salary) support long‑term alignment; compliance tracked by the compensation committee .
Overall, Dr. Singh’s incentives are tightly linked to milestone execution and commercialization progress; quarterly RSU vesting and milestone‑based PSU vesting create identifiable trading/date catalysts, while the EPA option waiver reduces structural overhang. Continued achievement of PSU milestones is a key lever for realized compensation and alignment with shareholder value creation .