Sunrun Inc. (NASDAQ:RUN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Appointment of New Directors
On January 23, 2018, the Board of Directors (the “Board”) of Sunrun Inc. (the “Company”) appointed Alan Ferber to the Board effective February 1, 2018. Mr. Ferber will serve as a Class I director and will stand for reelection at the 2019 annual meeting of stockholders. Mr. Ferber will serve as a member of the Company’s Nominating and Corporate Governance Committee.
Since January 2017, Mr. Ferber has served as the Chief Executive Officer of Jackson Hewitt Tax Service Inc., a provider of tax preparation services. Prior to joining Jackson Hewitt, Mr. Ferber was President of the residential home security business of ADT, a home and business security company, from 2013 until 2016. He also previously held the role of Senior Vice President and Chief Customer Officer for ADT. His other experience includes holding several executive leadership positions at US Cellular, a telecommunications company, from 2001 until 2012 including serving as Executive Vice President and Chief Operations Officer, Chief Strategy and Brand Officer.
Mr. Ferber holds a Bachelor of Arts in Economics from the University of Michigan, and a Masters in Business Administration from the Kellogg School of Management at Northwestern University.
On January 23, 2018, the Board also appointed Mary Powell to the Board effective February 1, 2018. Ms. Powell will serve as a Class II director and will stand for reelection at the 2020 annual meeting of stockholders. Ms. Powell will serve as a member of the Company’s Compensation Committee.
Since 2008, Ms. Powell has served as the President and Chief Executive Officer of Green Mountain Power Corporation, an electric services company. Her previous roles at Green Mountain Power Corporation include Senior Vice President and Chief Operations Officer, and Senior Vice President, Customer and Organizational Development.
Ms. Powell holds a Bachelor’s degree from Keene State College.
There are no arrangements or understandings between Mr. Ferber or Ms. Powell and any person to which Mr. Ferber and Ms. Powell were appointed directors of the Company.
In connection with their appointments, Mr. Ferber and Ms. Powell will each enter into the Company’s standard form of director indemnification agreement and will receive the Company’s standard compensation for non-employee directors to the Company’s Non-Employee Director Pay Policy.
A copy of the press release announcing the appointment of Mr. Ferber and Ms. Powell to the Board is furnished hereto as Exhibit 99.1.
Resignation of Director
On January 19, 2018, Rich Wong notified the Company of his resignation from the Board effective March 1, 2018. Mr. Wong’s decision to resign was not due to any disagreement with the Company on any matters relating to the Company’s operations, policies or practices.
Financial Statements and Exhibits
Sunrun Inc. ExhibitEX-99.1 2 exhibit991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Sunrun Appoints Mary Powell and Alan Ferber to its Board of DirectorsSAN FRANCISCO,…To view the full exhibit click
About Sunrun Inc. (NASDAQ:RUN)
Sunrun Inc. (Sunrun) is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. Sunrun has over 111,000 customers across 15 states, as well as the District of Columbia. Sunrun sells directly to consumers over the phone, Web and retail stores, as well as through a network of certified partners. It offers various plans and services, such as Pay as you go and Purchase your system. Its Pay as you go offers plans, such as BrightSave Monthly and BrightSave Prepaid. Sunrun’s BrightSave Monthly plan comes with both product and workmanship warranty, as well as protection against future utility rate hikes. Users can lock in over 20 years of electricity with Sunrun’s BrightSave Prepaid solar lease plan. With Sunrun’s BrightBuy, users can purchase the entire solar system.