John Van Scoter
About John Van Scoter
John Van Scoter, age 63, is President, Chief Executive Officer, and a Class I Director of Solid Power, Inc. (SLDP), serving since June 14, 2023; he holds a B.S. in Mechanical Engineering from the University of Vermont . Under his tenure, SLDP emphasizes operational milestones toward commercialization; 2024 “pay versus performance” shows total shareholder return (TSR) value of $100 investment at 21.62 and net loss of $(96.5) million, reflecting the company’s R&D-stage profile . In 3Q 2025, SLDP announced a strategic collaboration with Samsung SDI and BMW and reported $4.6 million in revenue and grant income for the quarter, highlighting commercial progress alongside continued investment needs .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| SRI International | Vice President, General Manager Products | 2019–2023 | Transitioned AI, robotics, and advanced imaging technologies to market . |
| eSolar, Inc. | CEO, President, Chairman | 2010–2018 | Developed utility-scale solar technology and transformed business model . |
| Texas Instruments | SVP Alt. Energy Strategy; SVP/GM DLP Products | 2000–2010 | Scaled DLP® into market-leading digital display technology; launched multiple tech businesses . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| TE Connectivity Ltd. | Director | 2008–2018 | Public board experience in a global industrial technology leader . |
| Princeton Identity; Averatek (SRI spin-outs) | Director (private) | n/a | Supported commercialization pathways for advanced technologies . |
Fixed Compensation
| Year | Salary ($) | Other ($) | Notes |
|---|---|---|---|
| 2024 | 538,000 | 15,391 (401k $13,800; HSA $1,500; life insurance $91) | Target bonus set at 100% of salary paid . |
| 2023 | 275,208 | 338,592 | Partial-year CEO start (effective June 14, 2023) . |
Performance Compensation
Annual Cash Bonus (2024)
| Item | Detail |
|---|---|
| Target | 100% of salary paid ($538,000) . |
| Metrics | Operational and strategic goals: technology development, partner progress, electrolyte sampling, production targets (weightings not disclosed) . |
| Outcome | Aggregate achievement at 120%; payout $645,600 . |
| Governance | HRC committee discretion; pay-for-performance emphasis . |
Long-Term Incentive Awards (LTIP)
| Year | RSU Grant Date | RSU Fair Value ($) | RSU Vesting | Option Grant Date | Option Fair Value ($) | Strike ($) | Expiration | Option Vesting |
|---|---|---|---|---|---|---|---|---|
| 2024 | 3/22/2024 | 839,713 | 25% on 3/22/2025; then 1/12 each Mar 31, Jun 30, Sep 30, Dec 31 . | 3/22/2024 | 809,967 | 1.56 | 3/22/2034 | 25% on 3/22/2025; then quarterly 1/12 . |
| 2023 | 6/14/2023 | Included in 2023 stock awards $2,484,662 | 25% on 6/14/2024; then quarterly 1/12 . | 6/14/2023 | Included in 2023 option awards $2,249,999 | 2.35 | 6/14/2033 | 25% on 6/14/2024; then quarterly 1/12 . |
Summary Compensation
| Year | Salary ($) | Stock Awards ($) | Option Awards ($) | Non-Equity Incentive ($) | Other ($) | Total ($) |
|---|---|---|---|---|---|---|
| 2024 | 538,000 | 839,713 | 809,967 | 645,600 | 15,391 | 2,848,671 |
| 2023 | 275,208 | 2,484,662 | 2,249,999 | 211,910 | 338,592 | 5,560,371 |
Equity Ownership & Alignment
- Stock ownership guidelines: CEO must hold 5x annual base salary; retain at least 50% of net shares until target met; compliance deadline is later of Feb 24, 2028 or 5 years from becoming a covered executive . As of 12/31/2024, covered executives were in compliance or on track .
- Insider policy prohibits hedging and pledging; pre-clearance and trading blackouts apply; Rule 10b5-1 plan adoption/modification requires pre-clearance .
Beneficial Ownership (as of March 24, 2025)
| Holder | Direct Shares | Options Exercisable ≤60 Days | RSUs Scheduled to Vest ≤60 Days | Total Beneficial Shares | % Outstanding |
|---|---|---|---|---|---|
| John Van Scoter | 329,509 | 1,266,514 | 97,922 | 1,693,945 | <1% |
Outstanding Equity Awards at FY-End 2024 (CEO)
| Instrument | Exercisable (#) | Unexercisable (#) | Strike ($) | Expiration | Unvested RSUs (#) | RSU Market Value ($) |
|---|---|---|---|---|---|---|
| Options (6/14/2023 grant) | 833,006 | 1,071,010 | 2.35 | 6/14/2033 | — | — |
| Options (3/22/2024 grant) | — | 1,006,420 | 1.56 | 3/22/2034 | — | — |
| RSUs (6/14/2023 grant) | — | — | — | — | 517,638 | 978,336 (at $1.89/sh 12/31/2024) |
| RSUs (3/22/2024 grant) | — | — | — | — | 531,464 | 1,004,467 (at $1.89/sh 12/31/2024) |
- Option moneyness signal: At 12/31/2024 closing price of $1.89, the 2023 option grant at $2.35 was out-of-the-money, while the 2024 grant at $1.56 was in-the-money .
Employment Terms
- Start date and role: Appointed CEO and Class I Director effective June 14, 2023 . Base salary $538,000; target annual bonus 100% of salary (max 200%); initial equity $4.5 million (50% RSUs, 50% options), four-year vesting; relocation benefits include $75,000 allowance and direct payment of reasonable costs .
- Severance (non-CIC): 12 months salary continuation; prior-year earned bonus; prorated bonus for year of termination based on actual performance; 12 months COBRA reimbursement or lump sum in lieu, subject to release .
- Change-in-control (double-trigger): Lump sum equal to 18 months salary + 150% of target bonus; prior-year earned bonus; 18 months COBRA reimbursement or lump sum in lieu; 100% accelerated vesting of outstanding equity awards .
- Non-compete, non-solicit: 24-month global non-compete focused on sulfide solid-state batteries; non-solicit of customers and employees during Restricted Period .
- Clawback: Incentive compensation subject to recoupment per policy and applicable law .
- Arbitration and confidentiality: Binding arbitration for employment disputes; robust confidentiality and invention assignment; at-will employment .
Board Governance
- Structure: CEO and Chair roles are separated; John Stephens, an independent director (former AT&T CFO), serves as Chair and leads agendas and executive sessions . Board held four meetings in 2024; all directors attended ≥75% of their meetings .
- Committees: Audit; Governance & Corporate Responsibility; Human Resources & Compensation (HRC). Van Scoter serves on no committees .
- Independence: Board majority independent; Van Scoter is not independent (executive) .
- Director compensation: As an executive, Van Scoter receives no additional director compensation .
Investment Implications
- Alignment: High equity mix (approximately 60% of CEO total target compensation via long-term equity in 2024) and 5x salary ownership guideline with 50% net share retention support pay-for-performance and longer-term alignment .
- Retention and change-in-control economics: Double-trigger severance (18 months salary + 150% target bonus) and full equity acceleration create retention and potential deal-time alignment; robust non-compete indicates post-departure protections, but sizable unvested equity also raises near-term retention value .
- Trading signals: Company prohibits hedging/pledging; quarterly blackout and pre-clearance lower near-term discretionary selling risk. 2024 options at $1.56 strike were in-the-money at year-end, while 2023 options at $2.35 were not, indicating potential future exercise cadence as shares appreciate and as quarterly tranches vest .
- Performance incentives: 2024 bonus paid at 120% of target on operational milestones (development progress, partner agreements, sampling, production targets), suggesting tight linkage to commercialization steps rather than pure financial metrics—appropriate for R&D-stage but requires continued Board oversight to avoid “soft targets” creep .
- Execution risk: 2024 net loss of $(96.5) million underscores R&D-stage economics; however, partnerships with Samsung SDI and BMW and pilot-line progress highlight commercialization pathway and potential for milestone-driven value creation under Van Scoter’s leadership .