Filing context
FuelCell Energy, Inc. filed this Form 8-K regarding senior finance leadership changes. The report is dated October 4, 2026, and was signed October 7, 2026. It does not report operating results or provide financial statements.
Leadership changes and compensation
- Michael S. Bishop ceased serving as Executive Vice President, CFO and Treasurer, and as Principal Financial and Accounting Officer, effective October 6, 2026. He is to serve as Senior Advisor to the CEO from October 7, 2026 through April 6, 2027, at an annualized base salary of $461,591.
- After the transition period, Bishop is eligible for a $461,591 severance payment over 12 months, accelerated vesting of 68,518 time-vesting restricted stock units, potential pro rata performance awards and fiscal 2026 incentive compensation based on actual performance, and up to 12 months of COBRA premium support, subject to conditions. Other specified unearned awards are forfeited.
- Matthew Latino was appointed EVP, CFO and Treasurer, effective October 7, 2026, and assumes the principal financial and accounting officer roles. His disclosed background includes finance and segment CFO roles at Xylem and prior audit experience at Deloitte.
- Latino’s agreement provides for $460,000 annual base salary and a fiscal 2027 target bonus of 70% of base salary. His fiscal 2027 target long-term incentive award is $1 million, expected to be split equally between performance share units and time-vesting restricted stock units. Additional terms include a $120,000 sign-on bonus, subject to repayment in specified circumstances, and a one-time $400,000 restricted-stock-unit grant expected in December 2026.
- Latino’s agreement also specifies severance and equity treatment for qualifying terminations, including change-in-control provisions. The detailed terms are in Exhibits 10.1 and 10.2.
Financial metrics and outlook
The filing provides no revenue, profit, cash flow, margin, debt, liquidity, guidance, or operating outlook information. It does not quantify the total expected expense or cash impact of the transition and new-hire arrangements.
Key facts for investors to verify
- Confirm the CFO handover and the effective dates of Bishop’s transition and Latino’s appointment.
- Review Exhibits 10.1 and 10.2 for complete severance, incentive, equity-vesting, and repayment terms.
- Monitor subsequent filings for any disclosed financial impact of these compensation arrangements and for further management or financial updates.