SolarEdge Adjusts Executive Pay for Performance Reporting

Ticker: SEDG · Form: DEF 14A · Filed: 2024-04-26T00:00:00.000Z

Sentiment: neutral

Topics: executive-compensation, sec-filing, pay-versus-performance

Related Tickers: SEDG

TL;DR

SolarEdge's exec pay is being adjusted for performance reporting; investors need to see how it aligns.

AI Summary

SolarEdge Technologies, Inc. filed a DEF 14A on April 26, 2024, detailing adjustments to executive compensation for the "Pay Versus Performance" table. These adjustments, averaging amounts for named executive officers (excluding the CEO) in 2023, include Ronen Faier, Uri Bechor, Rachel Prishkolnik, Yoav Galin, and Meir Adest, to determine "compensation actually paid."

Why It Matters

This filing clarifies how executive compensation is calculated for performance-based reporting, impacting how investors assess pay alignment with company results.

Risk Assessment

Risk Level: medium — DEF 14A filings often contain details about executive compensation and corporate governance, which can influence investor sentiment and stock performance.

Key Players & Entities

SOLAREDGE TECHNOLOGIES, INC. (company) — Filer
Ronen Faier (person) — Named Executive Officer
Uri Bechor (person) — Named Executive Officer
Rachel Prishkolnik (person) — Named Executive Officer
Yoav Galin (person) — Named Executive Officer
Meir Adest (person) — Named Executive Officer

FAQ

What is the purpose of the adjustments made to the "Summary Compensation Table" totals?

The adjustments are made to determine "compensation actually paid" as reported in the "Pay Versus Performance" table, ensuring accurate reporting of executive compensation relative to performance.

Which named executive officers (NEOs) are included in the average compensation calculations for 2023?

For 2023, the NEOs included in the average calculations are Ronen Faier, Uri Bechor, Rachel Prishkolnik, Yoav Galin, and Meir Adest.

Are the valuation assumptions used for calculating fair values materially different from those disclosed at the time of grant?

No, the filing states that the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.

What does the "Pay Versus Performance" table aim to report?

The "Pay Versus Performance" table aims to report the "compensation actually paid" to named executive officers, reflecting adjustments made to the "Summary Compensation Table" totals.

What is the average basis for the dollar amounts reported in the adjustments table?

The dollar amounts represent the average of the amounts reported for the Company's named executive officers (NEOs) as a group (excluding the CEO) in the "Total" column of the Summary Compensation Table for each applicable year.

From the Filing

0001178913-24-001454.txt : 20240426 0001178913-24-001454.hdr.sgml : 20240426 20240426103135 ACCESSION NUMBER: 0001178913-24-001454 CONFORMED SUBMISSION TYPE: DEF 14A PUBLIC DOCUMENT COUNT: 81 CONFORMED PERIOD OF REPORT: 20240426 FILED AS OF DATE: 20240426 DATE AS OF CHANGE: 20240426 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOLAREDGE TECHNOLOGIES, INC. CENTRAL INDEX KEY: 0001419612 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 205338862 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-36894 FILM NUMBER: 24879591 BUSINESS ADDRESS: STREET 1: 1 HAMADA STREET CITY: HERZILIYA PITUACH STATE: L3 ZIP: 4673335 BUSINESS PHONE: 972 (9) 957-6620 MAIL ADDRESS: STREET 1: 1 HAMADA STREET CITY: HERZILIYA PITUACH STATE: L3 ZIP: 4673335 FORMER COMPANY: FORMER CONFORMED NAME: SolarEdge Technologies Inc DATE OF NAME CHANGE: 20071128 DEF 14A 1 zk2431298.htm DEF 14A SOLAREDGE TECHNOLOGIES, INC. - 1419612 - 2024 DEF 14A SEC rules require certain adjustments be made to the “Summary Compensation Table” totals to determine “compensation actually paid” as reported in the “Pay Versus Performance” table above. The following table details the applicable adjustments that were made to determine “compensation actually paid” (all amounts are averages for the named executive officers other than the CEO). The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The dollar amounts represent the average of the amounts reported for the Company’s named executive officers (NEOs) as a group (excluding Mr. Lando) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs included for these purposes are as follows: in 2023, Ronen Faier, Uri Bechor, Rachel Prishkolnik, Yoav Galin and Meir Adest and in 2022, 2021 and 2020, Ronen Faier, Uri Bechor, Rachel Prishkolnik and Yoav Galin. TSR is determined based on the value of an initial fixed investment of $100 on December 31, 2019. The peer group TSR represents TSR of the Invesco Solar ETF index. Represents total annual revenue. 0001419612 false 0001419612 2023-01-01 2023-12-31 0001419612 1 2023-01-01 2023-12-31 0001419612 2 2023-01-01 2023-12-31 0001419612 3 2023-01-01 2023-12-31 0001419612 2022-01-01 2022-12-31 0001419612 2021-01-01 2021-12-31 0001419612 sedg:PrincipalExecutiveOfficerMember 2023-01-01 2023-12-31 0001419612 sedg:ValueOfStockAwardsReportedInSummaryCompensationTableMember sedg:PrincipalExecutiveOfficerMember 2023-01-01 2023-12-31 0001419612 sedg:YearEndFairValueOfOutstandingAndUnvestedEquityAwardsGrantedInYearMember sedg:PrincipalExecutiveOfficerMember 2023-01-01 2023-12-31 0001419612 sedg:YearOverYearChangeInFairValueOfOutstandingAndUnvestedEquityAwardsGrantedInPriorYearsMember sedg:PrincipalExecutiveOfficerMember 2023-01-01 2023-12-31 0001419612 sedg:FairValueAsOfVestingDateOfEquityAwardsGrantedAndVestedInYearMember sedg:PrincipalExecutiveOfficerMember 2023-01-01 2023-12-31 0001419612 sedg:YearOverYearChangeInFairValueOfEquityAwardsGrantedInPriorYearsThatVestedInYearMember sedg:PrincipalExecutiveOfficerMember 2023-01-01 2023-12-31 0001419612 sedg:NonPrincipalExecutiveOfficerAndNonExecutiveOfficerMember 2023-01-01 2023-12-31 0001419612 sedg:ValueOfStockAwardsReportedInSummaryCompensationTableMember sedg:NonPrincipalExecutiveOfficerAndNonExecutiveOfficerMember 2023-01-01 2023-12-31 0001419612 sedg:YearEndFairValueOfOutstandingAndUnvestedEquityAwardsGrantedInYearMember sedg:NonPrincipalExecutiveOfficerAndNonExecutiveOfficerMember 2023-01-01 2023-12-31 0001419612 sedg:YearOverYearChangeInFairValueOfOutstandingAndUnvestedEquityAwardsGrantedInPriorYearsMember sedg:NonPrincipalExecutiveOfficerAndNonExecutiveOfficerMember 2023-01-01 2023-12-31 0001419612 sedg:FairValueAsOfVestingDateOfEquityAwardsGrantedAndVe