--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-24-046271" form_type: "8-K" ticker: null cik: "0001772695" company_name: "Sunnova Energy International Inc." filed_at: "2024-02-26T23:59:59+00:00" generated_at: "2026-06-05T15:29:59.298353+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.6 calibrated_materiality_score: 0.6 confidence: "high" source: SEC EDGAR --- # Sunnova issues $227M secured notes; promotes Mathews to COO, grants exec compensation ## Summary - Issued $227M aggregate in notes: $166M Class A at 5.30%, $33.9M Class B at 6.00%, $27.1M Class C at 7.00%; rated AA-sf/A-sf/BBB-sf by Fitch, due 2031. - Notes secured by residential solar/energy storage loan portfolio; proceeds to repay existing financings and fund new investments. - Paul Mathews promoted to EVP Chief Operating Officer; David Searle adds Chief Compliance Officer role. - 2024 base salaries: Berger $650K, Lane $400K, Grasso $425K (eff. Apr 1, 2024); 2023 bonuses paid Mar 6: Berger $1.22M, Lane $347K, Grasso $381K (60% cash/40% stock). - LTIP awards granted Mar 6: Berger $5M (RSUs + premium options at 120% strike); Lane $1.6M; Grasso $2.4M; all vest in 3 years. ## SEC filing metadata - accession: 0001193125-24-046271 - form_type: 8-K - cik: 0001772695 - company_name: Sunnova Energy International Inc. - filed_at: 2024-02-26T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.6 - calibrated_materiality_score: 0.6 - confidence: high - sec_items: 2.03, 5.02 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1772695/000119312524046271/0001193125-24-046271-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1772695/000119312524046271/d780343d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-24-046271 - JSON: https://secwatch.observer/filing/0001193125-24-046271.json - Plain text: https://secwatch.observer/filing/0001193125-24-046271.txt ## Key facts - Debt Financings Sunnova Energy International Inc. entered an off-balance-sheet arrangement for guarantee. - Instrument: guarantee - Event: off balance sheet source text: Sunnova Energy Corporation, a wholly owned, direct subsidiary of the Company, issued a performance guaranty covering (a) the performance of certain obligations of its affiliates, (b) the performance obligations of the Manager under the Management Agreement and Servicing Agreement and (c) the payment of certain expenses incurred by the Issuer and the Indenture Trustee. evidence_url: https://www.sec.gov/Archives/edgar/data/1772695/000119312524046271/0001193125-24-046271-index.htm - Debt Financings Sunnova Energy International Inc. incurred loan of $166,000,000 at 5.30% maturing February 20, 2031. - Instrument: loan - Principal: $166,000,000 - Rate: 5.30% - Maturity: February 20, 2031 - Event: incurrence source text: On February 23, 2024, a wholly owned, indirect subsidiary (the "Issuer") of Sunnova Energy International Inc., a Delaware corporation (the "Company"), issued $166,000,000 aggregate principal amount of 5.30% Loan Backed Notes, Series 2024-A Class A (the "Class A Notes"), $33,900,000 aggregate principal amount of 6.00% Loan Backed Notes, Series 2024-A Class B (the "Class B Notes") and $27,100,000 aggregate principal amount of 7.00% Loan Backed Notes, Series 2024-A Class C (the "Class C Notes" and, collectively with the Class A Notes and Class B Notes, the "Notes") evidence_url: https://www.sec.gov/Archives/edgar/data/1772695/000119312524046271/0001193125-24-046271-index.htm - Debt Financings Sunnova Energy International Inc. incurred loan of $27,100,000 at 7.00% maturing February 20, 2031. - Instrument: loan - Principal: $27,100,000 - Rate: 7.00% - Maturity: February 20, 2031 - Event: incurrence source text: On February 23, 2024, a wholly owned, indirect subsidiary (the "Issuer") of Sunnova Energy International Inc., a Delaware corporation (the "Company"), issued $166,000,000 aggregate principal amount of 5.30% Loan Backed Notes, Series 2024-A Class A (the "Class A Notes"), $33,900,000 aggregate principal amount of 6.00% Loan Backed Notes, Series 2024-A Class B (the "Class B Notes") and $27,100,000 aggregate principal amount of 7.00% Loan Backed Notes, Series 2024-A Class C (the "Class C Notes" and, collectively with the Class A Notes and Class B Notes, the "Notes") evidence_url: https://www.sec.gov/Archives/edgar/data/1772695/000119312524046271/0001193125-24-046271-index.htm - Debt Financings Sunnova Energy International Inc. incurred loan of $33,900,000 at 6.00% maturing February 20, 2031. - Instrument: loan - Principal: $33,900,000 - Rate: 6.00% - Maturity: February 20, 2031 - Event: incurrence source text: On February 23, 2024, a wholly owned, indirect subsidiary (the "Issuer") of Sunnova Energy International Inc., a Delaware corporation (the "Company"), issued $166,000,000 aggregate principal amount of 5.30% Loan Backed Notes, Series 2024-A Class A (the "Class A Notes"), $33,900,000 aggregate principal amount of 6.00% Loan Backed Notes, Series 2024-A Class B (the "Class B Notes") and $27,100,000 aggregate principal amount of 7.00% Loan Backed Notes, Series 2024-A Class C (the "Class C Notes" and, collectively with the Class A Notes and Class B Notes, the "Notes") evidence_url: https://www.sec.gov/Archives/edgar/data/1772695/000119312524046271/0001193125-24-046271-index.htm - Executive change David Searle changed role as Executive Vice President, General Counsel and Chief Compliance Officer at Sunnova Energy International Inc.. - Action: title revised - Role: Executive Vice President, General Counsel and Chief Compliance Officer source text: Mr. David Searle’s title was revised from Executive Vice President, General Counsel to Executive Vice President, General Counsel and Chief Compliance Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1772695/000119312524046271/0001193125-24-046271-index.htm - Executive change Hillstrand departed as other_named_officer at Sunnova Energy International Inc.. - Action: in the process of separating source text: Mr. Hillstrand who is in the process of separating from the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1772695/000119312524046271/0001193125-24-046271-index.htm - Executive change Santo Salvo departed as other_named_officer at Sunnova Energy International Inc.. - Action: no longer with the Company source text: Excludes Messrs. Baker and Santo Salvo who are no longer with the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1772695/000119312524046271/0001193125-24-046271-index.htm - Executive change Baker departed as other_named_officer at Sunnova Energy International Inc.. - Action: no longer with the Company source text: Excludes Messrs. Baker and Santo Salvo who are no longer with the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1772695/000119312524046271/0001193125-24-046271-index.htm - Executive change Paul Mathews changed role as Executive Vice President, Chief Operating Officer at Sunnova Energy International Inc.. - Action: title revised - Role: Executive Vice President, Chief Operating Officer source text: Mr. Paul Mathews’ title was revised from Executive Vice President, Service – Americas and Supply Chain to Executive Vice President, Chief Operating Officer. evidence_url: https://www.sec.gov/Archives/edgar/data/1772695/000119312524046271/0001193125-24-046271-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.