Stem appoints Arun Narayanan as CEO effective Jan 27, 2025; Buzby stays Board Chair

STEM, INC.

Arun Narayanan, former CEO of RES Digital Solutions, named CEO; succeeds David Buzby as Interim CEO.
David Buzby steps down as Interim CEO and Executive Chair Jan 27, 2025, remains non-executive Board Chair.
Narayanan receives base salary of $575K, sign-on bonus of $50K, and equity awards including 975K RSUs and 325K PSUs.
Buzby's amended agreement provides $600K base, 125% bonus target with 75% minimum guarantee, and 66,667 stock options vesting immediately.
CEO search announced Sept 2024 concludes; company emphasizes software-focused strategy under new leadership.

item 5.02 item 7.01 item 9.01

Executive movements

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Role change

David Buzby

non-executive Chair of the Board

STEM · STEM, INC.

Effective: 2025-01-27
Successor: Arun Narayanan
Filed: January 16, 2025, 6:59 PM ET

Effective January 27, 2025, Mr. Buzby will serve as the non-executive Chair of the Board.

Appointed

Arun Narayanan

Chief Executive Officer

STEM · STEM, INC.

Effective: 2025-01-27
Filed: January 16, 2025, 6:59 PM ET

On January 16, 2025, Stem, Inc. (the “Company”) announced that the Company’s board of directors (the “Board”) has appointed Mr. Arun Narayanan, age 50, as the Company’s Chief Executive Officer (“CEO”), effective January 27, 2025.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David Buzby changed role as non-executive Chair of the Board at STEM, INC..

Action: will serve as
Role: non-executive Chair of the Board

Exact text from the filing

Effective January 27, 2025, Mr. Buzby will serve as the non-executive Chair of the Board.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Arun Narayanan was appointed as Chief Executive Officer at STEM, INC..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On January 16, 2025, Stem, Inc. (the “Company”) announced that the Company’s board of directors (the “Board”) has appointed Mr. Arun Narayanan, age 50, as the Company’s Chief Executive Officer (“CEO”), effective January 27, 2025.

View on SEC.gov

STEM, INC. filing history →

Source: SEC EDGAR

accession 0001193125-25-007442

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