Michael Rutledge has been appointed as the Chief Financial Officer of International Battery Metals Ltd. with great pleasure. Mr. Rutledge has been the company’s temporary chief financial officer since March 6, 2025, before being named chief financial officer.
Having served as the chief financial officer of many publicly listed firms in a variety of sectors, Mr. Rutledge, CPA, is a seasoned financial executive. He is well-versed in SEC reporting, company finance, and strategic growth activities including M&A and IPOs.
Joseph Mills, Chief Executive Officer, International Battery Metals commented, “We are very pleased to have Michael joining the leadership team at IBAT. During Michael’s tenure as Interim CFO, he has proven strong leadership qualities and has worked tirelessly to help the IBAT team move the Company to its strategic goals of deploying the first large scale commercial DLE technology. We are very excited to welcome Michael to the leadership team.”
According to the terms of Mr. Rutledge’s employment contract with the company (the “Employment Agreement”) and the company’s restricted share unit plan (the “RSU Plan”), the company has granted Mr. Rutledge 450,000 restricted share units (“RSU”), which will fully vest on the first anniversary of the date of issuance, and an additional 900,000 RSUs, which will fully vest on the date the company completes the construction and deployment (with secured financing) of two additional Direct Lithium Extraction plants (in addition to the exiting DLE plant that the company is currently planning to deploy). Under the terms and circumstances of the RSU Plan, all RSUs are susceptible to accelerated vesting in the event of a change of control.
