secwatch.observer — SEC 8-K summary
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Issuer:     Sunrun Inc. (RUN)
CIK:        0001469367
Form:       8-K
Filed at:   2023-08-30T23:59:59+00:00
Accession:  0001193125-23-224479
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 5.02, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Sunrun grants aggressive performance-based PSUs to NEOs with $45-$100 stock price and $2-$6.50 cash generation targets
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- One-time PSUs granted to CEO Mary Powell (472,508 target), two other NEOs (214,776 each), and CLO Jeanna Steele (128,865).
- Vesting requires both Cash Generation per Diluted Share (threshold $2.00, target $3.50, max $6.50) and Stock Price Attainment (threshold $45, target $60, max $100) over 2024-2026.
- Payout capped at 300% of target; time-based vesting extends to 2027/2028.
- Award follows 68.2% Say-on-Pay support; for 2024, annual equity grants will be ~55% performance-based.
- Stock price targets represent 222%-616% increase from grant date price (~$14).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1469367/000119312523224479/0001193125-23-224479-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1469367/000119312523224479/d547541d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-224479

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer