Sunnova Energy Reports Leadership Changes and Compensation Details
Ticker: NOVAQ · Form: 8-K · Filed: Dec 12, 2024 · CIK: 1772695
Sentiment: neutral
Topics: leadership-change, governance, compensation
TL;DR
Sunnova's 8-K drops: new directors elected, exec pay details revealed.
AI Summary
Sunnova Energy International Inc. filed an 8-K on December 12, 2024, reporting on the departure of directors or certain officers, the election of directors, and compensatory arrangements for certain officers. The filing details changes within the company's leadership structure and executive compensation plans.
Why It Matters
Changes in a company's board of directors and executive compensation can signal shifts in strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can introduce uncertainty regarding future strategic direction and financial management.
Key Numbers
- 001-38995 — SEC File Number (Identifies the company's filing with the SEC.)
- 30-1192746 — IRS Employer Identification Number (Company's tax identification number.)
Key Players & Entities
- Sunnova Energy International Inc. (company) — Registrant
- Delaware (jurisdiction) — State of incorporation
- 20 East Greenway Plaza, Suite 540 (address) — Business and Mail Address
- Houston, TX 77046 (address) — City, State, Zip
FAQ
What specific leadership roles were affected by the departures or appointments mentioned in the filing?
The filing indicates "Departure of Directors or Certain Officers" and "Appointment of Certain Officers," but does not specify the exact roles in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported is December 12, 2024.
What is Sunnova Energy International Inc.'s primary business classification?
Sunnova Energy International Inc. is classified under 'ELECTRIC & OTHER SERVICES COMBINED [4931]'.
In which state was Sunnova Energy International Inc. incorporated?
Sunnova Energy International Inc. was incorporated in Delaware.
What is the physical business address of Sunnova Energy International Inc.?
The business address is 20 East Greenway Plaza, Suite 540, Houston, TX 77046.
Filing Stats: 634 words · 3 min read · ~2 pages · Grade level 12.5 · Accepted 2024-12-12 16:01:59
Key Financial Figures
- $0.0001 — ange on Which Registered Common Stock, $0.0001 par value per share NOVA New York Stock
Filing Documents
- nova-20241212.htm (8-K) — 23KB
- 0001772695-24-000094.txt ( ) — 144KB
- nova-20241212.xsd (EX-101.SCH) — 2KB
- nova-20241212_lab.xml (EX-101.LAB) — 21KB
- nova-20241212_pre.xml (EX-101.PRE) — 12KB
- nova-20241212_htm.xml (XML) — 3KB
From the Filing
nova-20241212 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________________ FORM 8-K _______________________________________________________________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): December 12, 2024 _______________________________________________________________________________ Sunnova Energy International Inc. (Exact name of registrant as specified in its charter) _______________________________________________________________________________ Delaware 001-38995 30-1192746 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification Number) 20 East Greenway Plaza, Suite 540 Houston , Texas 77046 (Address, including zip code, of principal executive offices) ( 281 ) 892-1588 (Registrant's telephone number, including area code) _______________________________________________________________________________ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, $0.0001 par value per share NOVA New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On December 6, 2024, Nora Brownell notified Sunnova Energy International Inc. (the "Company") of her resignation as a Class II director of the Board of Directors (the "Board") of the Company and Chair and member of the Compensation and Human Capital Committee effective December 31, 2024. Ms. Brownell's resignation was for personal reasons and not due to any disagreement with the Company on any matter relating to the Company's operations, policies, or practices. On May 15, 2024, Mr. Brownell was awarded 24,948 restricted stock units (the "2024 RSU Award") as compensation for her service on the Company's Board of Directors. Under its terms, the 2024 RSU Award was scheduled to vest one year from the date of grant subject to the grantee's continued service on the Board. On December 10, 2024, in recognition of Ms. Brownell's long-standing and dedicated service on the Board, including time spent in service for 2024, the Compensation and Human Capital Committee in consultation with the Nominating, Governance and Sustainability Committee recommended to the Board and the Board approved to accelerate the vesting of a pro-rata portion of the 2024 RSU Award. The pro-rata portion was calculated based upon the number of days Ms. Brownell served on the Board in 2024 from the grant date of the award through her last day of service on the Board over 365 (or 15,789 restricted stock units, rounding to the nearest whole number), effective as of December 31, 2024, with the remainder of the 2024 RSU Award (or 9,159 restricted stock units) terminating and being forfeited. SIGNATURE 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 hereunto duly authorized. SUNNOVA ENERGY INTERNATIONAL INC. Date: December 12, 2024 By: /s/ David Searle David Searle Executive Vice President, General Counsel and Chief Compliance Officer