---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-295404"
form_type: "8-K"
ticker: "SHLS"
cik: "0001831651"
company_name: "Shoals Technologies Group, Inc."
filed_at: "2022-11-30T23:59:59+00:00"
generated_at: "2026-06-21T11:48:33.084499+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# CEO Jason Whitaker to step down for health reasons; Shoals enters TRA termination for $58.1M

## Summary
- CEO Jason Whitaker to step down early 2023 for health reasons; advisory role until mid-March 2023.
- Board Chairman Brad Forth leading CEO search with Spencer Stuart; Whitaker expects to remain on Board.
- TRA amended: Company granted option to terminate Tax Receivable Agreement by Dec 31, 2022 for $58.1M cash.
- Whitaker states business at all-time highs in backlog, adjusted EBITDA, and customers.

## SEC filing metadata
- accession: 0001193125-22-295404
- form_type: 8-K
- ticker: SHLS
- cik: 0001831651
- company_name: Shoals Technologies Group, Inc.
- filed_at: 2022-11-30T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831651/000119312522295404/0001193125-22-295404-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831651/000119312522295404/d415701d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-295404
- JSON: https://secwatch.observer/filing/0001193125-22-295404.json
- Plain text: https://secwatch.observer/filing/0001193125-22-295404.txt

## Key facts
- Executive change
  Jason Whitaker departed as Chief Executive Officer at Shoals Technologies Group, Inc..
  - Action: step down
  - Role: Chief Executive Officer
  source text: On November 30, 2022, the Company announced that its Chief Executive Officer, Jason Whitaker, has informed the Board of Directors that he intends to step down from his role as Chief Executive Officer for health reasons in early 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831651/000119312522295404/0001193125-22-295404-index.htm
- Material Agreements
  Shoals Technologies Group, Inc. amended Tax Receivable Agreement Amendment with holders party thereto valued at $58.1 million payable in cash (effective 2022-11-29).
  - Action: amendment
  - Counterparty: holders party thereto
  - Value: $58.1 million payable in cash
  - Effective: 2022-11-29
  source text: On November 29, 2022, Shoals Technologies Group, Inc. (the “ Company ”) entered into an amendment (the “ TRA Amendment ”) to the Tax Receivable Agreement, dated as of January 29, 2021 (as amended or otherwise modified from time to time, the “ TRA ”), by and among the Company and the holders party thereto, pursuant to which the parties to the TRA agreed to grant the Company a right to terminate the TRA at its election until December 31, 2022 in exchange for a termination consideration of $58.1 million payable in cash (the “ TRA Termination Consideration ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831651/000119312522295404/0001193125-22-295404-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.