Form 8-K

8-K — Enovix Corp

Accession: 0001828318-26-000050

Filed: 2026-07-09

Period: 2026-07-09

CIK: 0001828318

SIC: 3690 (MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES)

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 — envx-20260709.htm (Primary)

EX-99.1 (exhibit991-pressreleaseeno.htm)

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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): July 9, 2026

Enovix Corporation

(Exact Name of Registrant as Specified in Its Charter)

Delaware 001-39753 85-3174357

(State or Other Jurisdiction

of Incorporation) (Commission

File Number) (IRS Employer

Identification No.)

3501 W Warren Avenue

Fremont, California

94538

(Address of Principal Executive Offices) (Zip Code)

Registrant’s Telephone Number, Including Area Code: (510) 695-2350

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

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:

☐ 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 $0.0001 per share ENVX The Nasdaq Global Select 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 July 9, 2026, Enovix Corporation (the “Company”) announced that it is appointing Dr. Michael Vyvoda as Chief Operating Officer of the Company, effective July 29, 2026 (the “Effective Date”).

Prior to joining the Company, Dr. Vyvoda, age 53, served as Chief Operating Officer of Magrathea Metals, Inc. from July 2025 until July 2026, where he was responsible for the company's operations related to advanced magnesium metal manufacturing. Previously, he served as Chief Operating Officer of Aircapture, Inc. from September 2023 until July 2025, where he was responsible for operations as the company commercialized its direct air capture technology. From April 2018 until August 2023, Dr. Vyvoda served as Director, Product Operations, Audio Products at Apple Inc., where he was responsible for product operations from new product introduction through high-volume manufacturing for the company's AirPods product line. Prior to Apple, he served as Vice President, Operations at ThinFilm Electronics, Inc. from 2015 through 2017 and Vice President, Business Development at GT Advanced Technologies Inc. from 2013 until 2015. Earlier in his career, Dr. Vyvoda held manufacturing and operations leadership positions at Twin Creeks Technologies, SanDisk Corporation and Matrix Semiconductor. Dr. Vyvoda received a Ph.D. in Chemical Engineering from the University of California, Berkeley and a B.S. in Chemical Engineering from the University of Michigan.

Dr. Vyvoda and the Company have entered into an employment agreement (the “Employment Agreement”) pursuant to which he will receive an annual base salary of $440,000 commencing on the Effective Date. In addition, Dr. Vyvoda will be eligible for an annual discretionary cash bonus, with a target amount equal to 60% of his base salary, based on certain conditions including the achievement of performance goals and the terms of the Company’s 2021 Equity Incentive Plan (“2021 Plan”).

Pursuant to the Employment Agreement, and contingent upon the commencement of his employment, Dr. Vyvoda will be issued the following restricted stock units (“RSUs”) under the 2021 Plan on August 5, 2026 (the “Grant Date”), in each case subject to Dr. Vyvoda’s continued service with the Company: (i) RSUs with a fair market value of $4,000,000 as of the Grant Date, with 25% of such RSUs vesting after Dr. Vyvoda completes twelve (12) months of Continuous Service (as defined in the 2021 Plan) following the Grant Date, and the remainder vesting in equal installments each quarter thereafter; and (ii) RSUs with a fair market value of $100,000 as of the Grant Date, which shall be fully vested as of the Grant Date.

The Employment Agreement provides that if Dr. Vyvoda is terminated without Cause or he resigns for Good Reason other than in connection with a Change of Control (as such terms are defined in the Employment Agreement), then, subject to execution of a release of claims and satisfaction of other conditions, Dr. Vyvoda will receive: (i) cash severance equal to nine months of his base salary; (ii) nine months of health care coverage; (iii) a pro-rated bonus; and (iv) be eligible for accelerated vesting of certain equity awards (the “Severance Benefits”). Further, if Dr. Vyvoda is terminated without Cause or resigns for Good Reason in connection with a Change of Control, he will be entitled to additional accelerated vesting under the Employment Agreement in addition to the foregoing Severance Benefits.

Except for the Employment Agreement, there is no arrangement or understanding between Dr. Vyvoda and any other person pursuant to which Dr. Vyvoda was selected as an officer. There are no family relationships required to be disclosed by Item 401(d) of Regulation S-K. Dr. Vyvoda is not a party to any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

In connection with his appointment, Dr. Vyvoda executed the Company’s standard form of indemnification agreement for officers, which was filed as Exhibit 10.19 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 19, 2021.

The foregoing description of the Employment Agreement terms do not purport to be complete and are qualified in their entirety by reference to the Employment Agreement which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q first filed after the date of this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit

Number

Description

99.1

Press Release dated July 9, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Enovix Corporation

Date:

July 9, 2026

By:

/s/ Arthi Chakravarthy

Arthi Chakravarthy

Chief Legal Officer

EX-99.1

Filename: exhibit991-pressreleaseeno.htm · Sequence: 2

Document

Enovix Appoints Former Apple Operations Leader Michael Vyvoda as Chief Operating Officer to Lead Global Manufacturing Ramp

Creates Unified Operations Organization Spanning Factory Floor to Customer Delivery as Enovix Scales High-Volume Production

FREMONT, Calif., July 9, 2026 -- Enovix Corporation (Nasdaq: ENVX) (“Enovix”), a developer and manufacturer of advanced lithium-ion batteries, including proprietary silicon-anode architectures, today announced that Dr. Michael Vyvoda, former Director of Product Operations at Apple who helped scale AirPods manufacturing to high-volume production, will join the Company as Chief Operating Officer, effective July 29, 2026. Michael will report to Dr. Raj Talluri, President and CEO, and will assume responsibility for Enovix’s global manufacturing, supply chain and operations engineering organizations as the Company scales to sustained, high-volume production at its Malaysia and Korea manufacturing facilities, with R&D support from its India operations. Senior Vice President Kihong (“KH”) Park, who leads Global Manufacturing Operations; Ed Casey, who leads Advanced Manufacturing Engineering (AME); and James Wilcox, Vice President of Strategic Sourcing, will report to Michael, establishing a unified operations organization with end-to-end responsibility from the factory floor to customer delivery.

Michael’s appointment comes as Enovix accelerates the commercial execution of its next-generation battery platforms. As reported in its first quarter 2026 results, Enovix grew revenue 49% year over year to $7.6 million, exceeding the high end of guidance, delivered its sixth consecutive quarter of positive gross profit and expanded its global pipeline for Korea-manufactured products to more than $130 million. Production of Enovix’s silicon-anode battery for smart eyewear is underway following receipt of its first commercial production order of approximately 50,000 units, smartphone qualification continues to advance and the Company recently launched its MX-1™ platform for the rapidly growing drone and defense markets. As these programs scale simultaneously, successfully coordinating manufacturing, supply chain, quality and customer delivery across multiple sites, products and end markets becomes increasingly critical. In his new role, Michael will lead this next phase of operational execution, driving a disciplined, repeatable manufacturing ramp across Enovix’s global operations.

“Michael brings exactly the kind of broad, cross-functional operating leadership Enovix needs at this stage,” said Dr. Talluri. “We are scaling into sustained, multi-site, high-volume manufacturing across smartphone, smart eyewear, defense and industrial platforms simultaneously. Michael has done this before — building manufacturing organizations that successfully transition products from introduction to high-volume production while improving yield, throughput, cost and operational discipline. Just as importantly, he understands how operational excellence translates into customer success, commercial execution and long-term shareholder value. With Michael, KH, Ed and James, Enovix now has a deeply experienced, fully integrated operations leadership team. Michael’s arrival further strengthens my confidence in our ability to execute our manufacturing ramp across these programs.”

Dr. Vyvoda brings more than 25 years of operations and manufacturing leadership experience spanning high-growth startups and global technology leaders. He joins Enovix from Magrathea Metals, where he served as Chief Operating Officer, leading operations for the company’s electrolytic magnesium development platform. Previously, he was Chief Operating Officer at Aircapture, where he took direct air capture technology from early development through commercialization, achieving successive generations of capital cost reduction. Earlier, Michael spent more than five years at Apple as Director, Product Operations for Audio Products, where he helped scale AirPods manufacturing from new product introduction to high-volume production across multiple Asian manufacturing sites, while leading cost reduction initiatives to support margin expansion. His operations background also includes senior manufacturing roles at ThinFilm Electronics, GT Advanced Technologies, Twin Creeks Technologies, SanDisk and Matrix Semiconductor. Michael holds a Ph.D. in Chemical Engineering from the University of California, Berkeley and a B.S. in Chemical Engineering from the University of Michigan.

“Enovix is at an inflection point — scaling from technology leadership into sustained, high-volume commercial manufacturing,” said Dr. Michael Vyvoda. “Scaling manufacturing at these levels requires repeatable processes, disciplined execution, operational visibility, continuous improvement and relentless cost reduction — all while upholding the highest standards of quality and safety. What drew me to Enovix is the rare combination of genuinely differentiated technology and customer demand across multiple large end markets. I’m looking forward to working with KH, Ed, James and the broader operations and engineering teams to scale a world-class manufacturing system supporting multiple high-volume product platforms for Enovix’s smartphone, smart eyewear, defense and industrial customers.”

Dr. Vyvoda’s appointment completes the deliberate strengthening of Enovix’s operating leadership as the Company advances from technology development to commercial-scale manufacturing, following the earlier additions of Ed Casey as Vice President, Operations, leading Advanced Manufacturing Engineering, and Sanghyuck Park as Senior Director, Advanced Manufacturing Engineering.

About Enovix

Enovix develops and manufactures advanced lithium-ion batteries, including proprietary silicon-anode architectures for smartphones, smart eyewear, defense, industrial and emerging edge-AI applications. Its proprietary silicon-anode battery architecture enables higher energy density and performance in space-constrained devices while maintaining safety and reliability, supporting commercialization across consumer and industrial markets.

Enovix is headquartered in Silicon Valley with manufacturing facilities in Korea and Malaysia and R&D operations in India, servicing customers globally. For more information visit https://enovix.com and follow us on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or our future financial or operating performance and are identified by words such as anticipate, believe, could, estimate, expect, intend, may, might, plan, possible, potential, predict, project, should, will, would and similar expressions. Forward-looking statements in this press release include, but are not limited to, statements regarding: the expected timing, benefits and impact of our leadership appointment and organizational changes; our future growth opportunities; our ability to scale multiple programs simultaneously, and execute on our manufacturing ramp, among others. These statements are based on the current expectations of our management, are not predictions of actual performance, and actual results may differ materially from the future results, performance or achievements expressed or implied by the forward-looking statements.

Risks, uncertainties and assumptions that could cause actual results to differ materially from the results and events anticipated by such forward-looking statements include, but are not limited to: risks related to the timing of the leadership changes; the outcome of customer testing and qualification activities, including the possibility that our products do not meet required performance thresholds or that such testing is delayed beyond expected time frames; our ability to successfully develop, manufacture and commercialize our battery products and transition to high-volume production; our ability to scale manufacturing operations and achieve expected production capacity and yields; the level and timing of customer demand, qualification and adoption of our products across end markets; our ability to enter into and expand commercial agreements, including securing design wins, purchase orders and production contracts; our ability to execute on our business strategy and build and scale our sales and commercial capabilities; lengthy and unpredictable customer qualification and sales cycles, safety considerations and contractual terms, particularly in defense and other regulated markets; risks related to battery performance, reliability and safety; customer concentration in the defense sector and certain consumer technology markets, such as smartphones and smart eyewear; challenges in forecasting demand, inventory and manufacturing requirements that may result in additional costs and production delays; our history of losses and expectation of continued losses; risks associated with the development and commercialization of products that remain under development and may not be successfully produced at commercial scale; our ability to effectively integrate and derive benefits from acquired businesses; fluctuations in foreign currency exchange rates and interest rates; operational and safety

risks associated with manufacturing equipment; intense competition and our ability to keep up with rapid technological change and evolving standards in the battery industry; our ability to attract and retain qualified personnel; the outcome of litigation, regulatory investigations and other legal matters, including the associated legal and other costs; liquidity constraints, capital availability and our ability to service existing debt; our ability to protect and enforce our intellectual property rights; volatility in the trading price of our common stock; changes in tax laws or regulations; the impact of cyber and other information technology or security related incidents on us, our customers or other parties; changes in the political, economic or regulatory environment generally and in the markets in which we operate; and other risks described in the disclosures contained in our filings with the Securities and Exchange Commission (“SEC”), including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our annual report on Form 10-K and quarterly reports on Form 10-Q, and other documents that we have filed, or will file, with the SEC. These documents are available in the SEC Filings section of the Investor Relations page at https://ir.enovix.com and at www.sec.gov.

It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Accordingly, you should not rely on any of the forward-looking statements. Any forward-looking statements in this press release speak only as of the date on which they are made. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For media and investor inquiries, please contact:

Investor Contact:

Blueshirt Group

Monica Gould / Amy Grant

ir@enovix.com

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