PROTERRA INC : Change in Directors or Principal Officers (form 8-K)

PTRA

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers. On October 15, 2021, Proterra Inc. (the "Company") announced the appointment of Christopher Bailey, age 41, as the President of Proterra Powered & Energy of the Company and Proterra Operating Company, Inc., a subsidiary of the Company, effective as of October 1, 2021. There are no arrangements between Mr. Bailey and any other person pursuant to which he was selected to become the President of Proterra Powered & Energy of the Company. Mr. Bailey does not have any family relationship with any executive officer or director of the Company, or with any person selected to become an officer or director of the Company. Neither Mr. Bailey nor any member of his immediate family has any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

In connection with his appointment to President of Proterra Powered & Energy, the Company will provide Mr. Bailey a base salary of $375,000, and his bonus target under the Company's Key Employee Incentive Plan will be 75% of his base salary.

The information in this Item 7.01, including Exhibit 99.1 to this report, shall not be deemed to be "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act.

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