Velo3D (VELO) CFO James Suva leaves after 175 days and a consultant takes over as interim finance chief

Velo3D (Nasdaq: VELO) disclosed on Friday, October 2, 2026 that chief financial officer James Suva left the company on September 28 after 175 days in the job, and that Terence P. Wynn, a 70-year-old consultant, has taken over as interim CFO. The company gave no reason beyond saying the separation was not due to a disagreement over its operations, policies or practices. The filing reached the tape at 4:16 p.m. ET, and VELO was up 0.45% a minute later and 1.35% after ten minutes, from 11.15 to 11.30.

The third finance chief of 2026

Wynn is the third person to serve as Velo3D's principal financial officer this year. Bernard Chung, the corporate controller, held the post in an acting capacity from December 31, 2025 while the board searched for a permanent hire. The board chose Suva, who spent two decades at Citi as an equity analyst covering hardware and 3D printing companies before becoming treasurer of Cricut, and he started on April 6.

1. December 31, 2025: Bernard Chung becomes acting CFO pending a search.
2. March 20, 2026: the board appoints James Suva, effective April 6.
3. April 6, 2026: Suva starts and receives 135,000 restricted stock units.
4. September 28, 2026: Suva separates from the company and Terence Wynn becomes interim CFO.
5. October 2, 2026: Velo3D reports the change after the market close.

Suva's offer letter set a base salary of $380,000 and a target bonus of 70% of salary. The first quarter of his restricted stock grant was scheduled to vest on May 15, 2027, almost eight months after he left.

A consultant paid by the month

Wynn does not join the payroll. Velo3D signed an officer services agreement with KongBasileConsulting, which employs him and supplies his services for $32,500 a month. Annualized, that is $390,000, slightly more than Suva's base salary and well below the $646,000 Suva could have earned in salary and target bonus together. Velo3D can end the arrangement at any time on written notice, while the consulting firm has to give 60 days.

He has done this kind of work since 2020, serving early-stage companies as an interim finance chief. Before that he was CFO of Business Wire from 2018 to 2020 and vice president of finance at Sony Computer Entertainment America from 2008 to 2015. The filing describes the role as interim and does not say whether a search for a permanent CFO has begun.

Why the timing matters

The change took effect two days before the third quarter ended on September 30. The officer who certifies the third-quarter accounts will therefore be one who was at the company for the last two days of the period. Velo3D reported its first two quarters of 2026 on May 12 and August 11.

The disclosure itself came at the latest moment the rules allow. A company has four business days to report the departure of a principal officer, and for a Monday separation the fourth business day is Friday. Velo3D filed after the close of trading that Friday.

The VELO reaction, measured

The stock's reference price two minutes before the headline was 11.15. It was 11.20 after one minute and 11.30 after ten, with 4,358 shares traded in the first fifteen minutes of after-hours dealing. That price is about 39% below the $18.40 at which chief executive Arun Jeldi's performance options were struck on June 29, 2026. Monday, October 5 is the first regular session after the disclosure.