Form 8-K
8-K — Twin Vee PowerCats, Co.
Accession: 0001731122-26-000609
Filed: 2026-04-23
Period: 2026-04-21
CIK: 0001855509
SIC: 3730 (SHIP & BOAT BUILDING & REPAIRING)
Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
Item: Financial Statements and Exhibits
Documents
8-K — e7576_8-k.htm (Primary)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 21, 2026
Twin Vee PowerCats Co.
(Exact name of registrant as specified
in its charter)
Nevada
001-40623
27-1417610
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
3101 S. US-1
Ft. Pierce, Florida 34982
(Address
of principal executive offices)
(772) 429-2525
(Registrant’s telephone number, including
area code)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Common stock, par value $0.001 per share
VEEE
The Nasdaq Stock Market LLC
(Nasdaq Capital Market)
Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 21, 2026, the Compensation
Committee of the Board of Directors (the “Committee”) of Twin Vee PowerCats Co. (the “Company”) approved an increase
in the base salary of Preston Yarborough, the Company’s Vice President, to $250,000 per annum.
On April 22, 2026, the Company
entered into an amendment (the “Yarborough Amendment”) to the employment agreement, effective as of July 23, 2021, by and
between the Company and Mr. Yarborough, reflecting the increase in base salary and terminating that certain previous amendment, dated
as of June 27, 2024.
The foregoing summary of
the Yarborough Amendment does not purport to be complete and is subject to and qualified in its entirety by reference to the full text
of the Yarborough Amendment, attached as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits
The following
exhibits are furnished with this Current Report on Form 8-K:
Exhibit Number
Exhibit Description
10.1
Amendment to Employment Agreement by and between Twin Vee PowerCats Co. and Preston Yarborough, dated April 22, 2026
104
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 23, 2026
TWIN VEE POWERCATS CO.
By:
/s/ Joseph Visconti
Name:
Joseph Visconti
Title:
Chief Executive Officer, Interim Chief Financial Officer and President
EX-10.1 — EXHIBIT 10.1
EX-10.1
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EXHIBIT 10.1
AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment (this “Amendment”)
dated as of April 22, 2026 (the “Effective Date”) amends the Employment Agreement, effective as of July 23, 2021 (the
“Agreement”) by and between Twin Vee PowerCats Co. (the “Corporation”) and Preston Yarborough (“Executive”).
Capitalized terms used herein without definition shall have the meanings assigned in the Agreement.
WHEREAS, the Corporation
desires to amend the Agreement to change Executive’s Base Salary.
NOW THEREFORE, for the mutual
promises contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto agree to amend the Agreement as follows:
1. Amendment.
Section 4(a) of the Agreement is
hereby deleted in its entirety and replaced with the following:
“(a) Base Salary. During
the Term of this Agreement, Executive shall receive a base salary at a gross rate of Two Hundred Fifty Thousand Dollars ($250,000) per
annum (the “Base Salary”), payable in substantially equal installments in accordance with the Company’s normal payroll
practices for payment of its employees, as in effect from time to time. Executive’s Base Salary shall be subject to upward adjustment
from time to time, as determined by the Board (or a committee thereof) in its sole discretion, but shall not be adjusted downward.
2. Previous Amendment.
The Amendment to Employment Agreement by and between Corporation and Executive dated June 27, 2024 is hereby terminated in favor of this
Amendment.
3. Severability.
The provisions of this Amendment are severable and if any part or it is found to be unenforceable the other paragraphs shall remain fully
valid and enforceable.
4. No Other Amendments; Confirmation.
All other terms of the Agreement shall remain in full force and effect. The Agreement, as amended by this Amendment, constitutes the entire
agreement between the parties with respect to the subject matter thereof.
5. Counterparts.
This Amendment may be executed in one or more counterparts, each of which shall be deemed an original but both of which together shall
constitute one and the same instrument.
6. Choice of Law.
This Amendment shall be construed and interpreted in accordance with the internal laws of the State of Florida without regard to its conflict
of laws principles.
[Signature page follows]
IN WITNESS WHEREOF, the
parties hereto have executed this Amendment as of the day and year first written above.
Corporation:
TWIN VEE POWERCATS CO.
By:
/s/ Joseph C. Visconti
Name:
Joseph C. Visconti
Title:
Chief Executive Officer, Interim
Chief Financial Officer and President
Executive:
/s/ Preston Yarborough
Preston Yarborough
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