Tore Ivar Slettemoen

About Tore Ivar Slettemoen

Tore Ivar Slettemoen, 67, has served as an independent director of T1 Energy (TE) since April 2024. He founded FREYR Legacy and has over 40 years in energy and mechanical industries, with prior roles at Saga Petroleum, Equinor (Statoil), and FMC; he holds an MSc in Mechanical Engineering (Norwegian Institute of Technology) and a Master of Management (Kellogg School of Management, Northwestern). He was appointed to the Board pursuant to a cooperation agreement with investor entities he controls (Teknovekst), and the Board has determined he is independent under NYSE standards .

Past Roles

External Roles

Board Governance

• Committee memberships: Audit and Risk Committee (member), Compensation Committee (member), Nominating & Corporate Governance Committee (member); not a committee chair .
• Europe Optimization Committee: member (special committee overseeing strategy for European portfolio) .
• Independence: Board determined Slettemoen is independent under NYSE standards; majority of Board independent .
• Attendance: Board held 17 meetings in 2024; each incumbent director attended at least 75% of Board and committee meetings; independent directors hold executive sessions at least annually .
• Governance context: Seller governance rights allow Trina Solar to designate directors and to place an independent seller designee on Nominating & Corporate Governance and Compensation Committees—an influence consideration given Slettemoen’s roles on both committees .

Committee Assignment Table

Fixed Compensation

• 2024 non-employee director cash fee schedule (approved by the Board):
  • Annual director retainer: $100,000; Audit Chair: $35,000; Compensation Chair: $25,000; Nominating Chair: $25,000; Audit member: $20,000; Compensation member: $10,000; Nominating member: $10,000 .
• 2024 actual for Slettemoen (reflecting April 2024 start and committee service): fees earned $97,692; “All Other Compensation” $22,500 (Europe Optimization Committee service); total $120,192 .

Performance Compensation

• No stock-based awards or options disclosed for Slettemoen for 2024; director compensation for him was cash-based plus committee service fees, with no performance-conditioned equity grants .
• The director compensation program is described as a mix of cash and share-based compensation; no performance metrics (TSR, revenue, EBITDA, ESG) were disclosed for non-employee directors .

Other Directorships & Interlocks

• Appointment via Teknovekst Cooperation Agreement (April 18, 2024), under which Slettemoen/affiliates agreed to standstill restrictions; he was nominated to the Board under this agreement—an investor-linked appointment .
• Trina Cooperation Agreement grants Trina nomination rights and committee seats for an independent seller designee on Nominating and Compensation Committees; potential influence overlap with Slettemoen’s committee roles .

Expertise & Qualifications

• Education: MSc in Mechanical Engineering (Norwegian Institute of Technology); Master of Management (Kellogg School of Management, Northwestern) .
• Industry experience: >40 years across energy, mechanical industries; founder/operator with start-ups and large industrials (Saga Petroleum, Equinor, FMC) .
• Board skills: risk oversight via Audit membership; compensation oversight via Compensation membership; governance and succession via Nominating & Corporate Governance membership .

Equity Ownership

• Beneficial ownership is primarily indirect via Teknovekst Invest AS and its subsidiary; Slettemoen is the sole owner of Teknovekst AS and directs votes/disposition .

• Anti-hedging/anti-pledging: Company policy prohibits hedging and pledging (unless approved in writing); no pledging disclosed for Slettemoen .

Insider Trades (Form 4)

Governance Assessment

• Strengths:

  • Independent director with deep technical/industrial expertise; sits on three core committees enhancing oversight breadth .
  • Documented independence and regular executive sessions support board effectiveness .
  • Anti-hedging/anti-pledging policy reduces misalignment risk; no pledging disclosed for Slettemoen .

• Concerns and RED FLAGS:

  • Investor-linked appointment via Teknovekst Cooperation Agreement; while Board deems him independent, affiliation may present perceived conflicts—especially combined with recent large insider sales reducing stake from ~5.08M to ~4.11M shares between Dec 2024 and Sep 2025 (see Form 4s above).
  • Committee influence risk: Trina Cooperation Agreement embeds seller designee(s) on Nominating & Corporate Governance and Compensation Committees, overlapping with Slettemoen’s committee memberships—potential governance interlock risk .
  • Pay structure: 2024 director pay for Slettemoen was entirely cash plus committee service; lack of equity grants for him in 2024 reduces direct ownership-based alignment via annual director equity, though he held a substantial indirect stake through Teknovekst .
  • Board-wide red flag to monitor: Use of tax gross-ups for a fellow director (Mingxing Lin) on restricted stock could signal shareholder-unfriendly practices (not specific to Slettemoen) .

• Attendance/engagement:

  • Board reports all incumbent directors met at least the 75% attendance threshold for 2024 and held regular executive sessions; individual director attendance rates not disclosed .

• Summary implication for investor confidence:

  • Slettemoen brings strong operational expertise and broad committee participation, but investor-linked appointment and recent sustained insider selling warrant monitoring for alignment and potential influence dynamics. The presence of seller-nominated directors on two committees where he serves adds governance complexity that investors should consider in evaluating board independence and decision-making .

Notes and Sources

• Biography, independence, committees, attendance: .
• Director compensation schedule and Slettemoen’s 2024 compensation: .
• Beneficial ownership: May 2025 table and footnotes ; Oct 2025 table .
• Insider trading records (Form 4): SEC archive links embedded in table rows (full URLs above).
• Seller governance rights (Trina Cooperation Agreement) and committee placement rights: .
• Teknovekst Cooperation Agreement and investor-linked appointment: .
• Anti-hedging/pledging policy: .