Ondas Holdings appoints Neil Laird as chief financial officer with new employment agreement

Ondas Holdings Inc. (NASDAQ:ONDS) announced the formal appointment of Neil Laird as chief financial officer, treasurer, and secretary, effective Saturday. This follows Mr. Laird’s previous service as interim chief financial officer since June 2024, according to a statement released in a recent SEC filing.

The company’s board of directors removed the interim designation from Mr. Laird’s title on Friday and approved an employment agreement with him on Monday. Under the new agreement, Mr. Laird will receive an annual base salary of $300,000 and is eligible for employee benefits. The agreement also includes a one-time discretionary bonus of $50,000, scheduled for payment on July 1, and equity awards consisting of 100,000 restricted stock units and non-qualified stock options for 100,000 shares. Both equity awards will vest in eight equal quarterly installments.

Mr. Laird’s employment is at-will. If he is terminated without cause, resigns due to constructive termination, or leaves as a result of disability, he will receive accrued obligations and reimbursement for COBRA premium payments for six months. In the event of termination in connection with a change in control, Mr. Laird will receive accrued obligations, continued base salary and benefits for six months, COBRA reimbursement for six months, and immediate vesting of all outstanding restricted stock units and stock options.

The agreement is subject to Mr. Laird’s compliance with its terms, including standard non-compete and non-solicitation provisions, and requires him to execute a general release and non-disparagement agreement to receive severance benefits. The company stated that there are no related party transactions between Mr. Laird and Ondas Holdings that require disclosure.

This information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.

In other recent news, Ondas Holdings Inc. has announced a significant $14.3 million purchase order from a defense customer for its Optimus System, marking the largest single order for this autonomous drone platform. This development highlights the increasing demand for Ondas’ drone technology in defense applications. Additionally, Ondas has regained compliance with Nasdaq’s minimum bid price requirement, maintaining a closing bid price of at least $1.00 for ten consecutive business days. This compliance ensures Ondas remains listed on The Nasdaq Capital Market, a crucial factor for investor visibility.

Further expanding its market reach, Ondas’ subsidiary, American Robotics, has partnered with Mistral Inc. to market and sell autonomous drone systems to U.S. defense and homeland security agencies. This strategic partnership aims to leverage Mistral’s established government relationships to create sales channels for Ondas’ drone platforms. Moreover, Ondas has announced a public offering of its common stock and pre-funded warrants, with proceeds intended for general corporate purposes. The offering’s completion is subject to market conditions, and its terms will be detailed in a final prospectus supplement filed with the SEC. These recent developments position Ondas for growth and increased engagement within the defense and homeland security sectors.

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