Nextracker Inc. Announces Board and Executive Compensation Changes

TL;DR

Nextracker filed an 8-K for board changes and executive comp adjustments.

AI Summary

On June 14, 2024, Nextracker Inc. filed an 8-K report detailing changes in its board of directors and executive compensation. Specifically, the company announced the election of new directors and adjustments to compensatory arrangements for certain officers. The filing also confirms the company's principal executive offices are located at 6200 Paseo Padre Parkway, Fremont, California.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future performance expectations.

Risk Assessment

Risk Level: low — The filing is routine and concerns corporate governance and executive compensation, not immediate financial distress or significant operational changes.

Key Players & Entities

• Nextracker Inc. (company) — Registrant
• June 14, 2024 (date) — Date of Report
• Delaware (jurisdiction) — State of Incorporation
• 6200 Paseo Padre Parkway, Fremont, California 94555 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.0001 — tered Class A Common Stock, par value $0.0001 NXT The Nasdaq Stock Market LLC I
• $70,000 — d to receive an annual cash retainer of $70,000 for his service as a member of Nextrack
• $150,000 — ommittee, and an annual equity grant of $150,000 in restricted stock units to be paid at

Filing Documents

• dp212863_8k.htm (8-K) — 26KB
• 0000950103-24-008388.txt ( ) — 194KB
• nxt-20240614.xsd (EX-101.SCH) — 3KB
• nxt-20240614_lab.xml (EX-101.LAB) — 33KB
• nxt-20240614_pre.xml (EX-101.PRE) — 22KB
• dp212863_8k_htm.xml (XML) — 3KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 14 2024, the Board of Directors (the " Board ") of Nextracker Inc. (the " Nextracker ") appointed Jeffrey Guldner to serve as a Class III director of Nextracker. Mr. Guldner will serve until Nextracker's next annual meeting of stockholders during which such class of directors is duly elected and qualified, or until his earlier death, resignation or removal. On June 14, 2024, the Board also appointed Mr. Guldner to serve as a member of the Nominating, Governance and Public Responsibility Committee of the Board (the " Nominating Committee "). The Board has determined that Mr. Guldner qualifies as an independent director in accordance with the Nasdaq listing rules and otherwise meets all applicable requirements to serve on each of the Board and the Nominating Committee. Mr. Guldner, 59, has served as President and Chief Executive Officer and Chairman of the Board of Directors of Pinnacle West Capital Corporation, a utility holding company, and Chief Executive Officer and Chairman of the Board of Directors of its primary subsidiary, Arizona Public Service Company (" APS "), an electric utility company, since November 2019. He also served as President of APS from August 2021 to May 2022. Mr. Guldner joined APS in 2004, and held several leadership positions at APS prior to his current roles. Prior to joining APS, Mr. Guldner was a partner in the Phoenix office of Snell & Wilmer LLP, where he practiced public utility, telecommunications and energy law. Before practicing law, Mr. Guldner served as a surface warfare officer in the United States Navy and was an assistant professor of naval history at the University of Washington. Mr. Guldner serves on the Board of Directors of Edison Electric Institute, the McCain Institute, the Nuclear Energy Institute, the Electric Power Research Institute and the Smart Ele

View Full Filing

View this 8-K filing on SEC EDGAR