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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2025
Commission File Number: 000-53543
Ballard Power Systems Inc.
(Translation of registrant’s name into English)
9000 Glenlyon Parkway
Burnaby, B.C. V5J 5J8
Canada
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☐ Form 40-F ☒
INCORPORATION BY REFERENCE
Exhibit 99.1 to this Report on Form 6-K is hereby incorporated by reference (i) into the registration statements on Form S-8 filed by the Registrant under the Securities Act of 1933 (File Nos. 333-271785 and 333-225494), and (ii) as an exhibit to the registration statement on Form F-10 filed by the Registrant under the Securities Act of 1933 (File No. 333-287958).
DOCUMENTS FILED AS PART OF THIS FORM 6-K
| Exhibit |
Description |
|
| 99.1 | Material Change Report, dated June 16, 2025 | |
2
SIGNATURES
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.
| BALLARD POWER SYSTEMS INC. | ||||||
| Date: June 17, 2025 | ||||||
| By: | /s/ Kate Igbalode |
|||||
| Name: | Kate Igbalode | |||||
| Title: | Senior Vice President & Chief Financial Officer | |||||
3
Exhibit 99.1
Form 51-102F3
MATERIAL CHANGE REPORT
| Item 1. | Name and Address of Company |
Ballard Power Systems Inc. (“Ballard” or the “Company”)
9000 Glenlyon Parkway
Burnaby, British Columbia
V5J 5J8
| Item 2. | Date of Material Change |
June 16, 2025.
| Item 3. | News Release |
On June 16, 2025, a news release in respect of the material change described herein was disseminated by a newswire company in Canada and subsequently filed on the Company’s profile on SEDAR+.
| Item 4. | Summary of Material Change |
On June 16, 2025, the Company announced that Randy MacEwen will step down as President and Chief Executive Officer, with Marty Neese assuming the position effective July 7, 2025.
| Item 5.1 | Full Description of Material Change |
On June 16, 2025, the Company announced that Randy MacEwen will step down as President and Chief Executive Officer, with Marty Neese assuming the position effective July 7, 2025.
The Board of Directors has appointed Marty Neese as President & CEO following a succession planning process. A seasoned executive with a deep background in operations, Mr. Neese has extensive experience in product standardization, product cost reduction, volume production, and gross margin optimization. Mr. Neese has served on Ballard’s Board of Directors over the past 10 years, and as the CEO of Verdagy, an innovative electrolysis and green hydrogen company, over the past four years. Earlier in his career, he served as the chief operating officer of SunPower and Flex. With his background and experience, Mr. Neese is uniquely qualified to drive the company’s next phase of growth and operational efficiency.
The leadership transition has been carefully planned to ensure a seamless and orderly handover. Mr. MacEwen will continue to serve as the CEO until Marty’s start date and then will remain available in an advisory capacity through September 30, 2025.
| Item 5.2 | Disclosure for Restructuring Transactions |
Not applicable.
| Item 6. | Reliance on subsection 7.1(2) of National Instrument 51-102 |
The report is not being filed on a confidential basis.
| Item 7. | Omitted Information |
No information has been omitted.
| Item 8. | Executive Officer |
For further information please contact:
Kerry Hillier, Corporate Secretary
Telephone: +1 (604) 454-0900
kerry.hillier@ballard.com
| Item 9. | Date of Report |
June 16, 2025.