---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-21-055775"
form_type: "8-K"
ticker: "SPRU"
cik: "0001772720"
company_name: "SPRUCE POWER HOLDING CORP"
filed_at: "2021-11-01T23:59:59+00:00"
generated_at: "2026-06-28T15:50:32.153769+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# XL Fleet appoints Eric Tech as CEO; prelim Q3 revenue $3.2M, cash $367M

## Summary
- Eric Tech named CEO effective Dec 1, 2021; succeeds Dimitri Kazarinoff stepping down to pursue other opportunities.
- Preliminary Q3 2021 revenue ~$3.2M ($0.6M drive systems, $2.6M XL Grid); hurt by supply chain issues including chip shortages.
- Cash and cash equivalents ~$367M as of Sep 30, 2021.
- Director Declan Flanagan resigned effective Oct 31, 2021 due to change in principal occupation; no disagreement with company.

## SEC filing metadata
- accession: 0001213900-21-055775
- form_type: 8-K
- ticker: SPRU
- cik: 0001772720
- company_name: SPRUCE POWER HOLDING CORP
- filed_at: 2021-11-01T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1772720/000121390021055775/0001213900-21-055775-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1772720/000121390021055775/ea149711-8k_xlfleetcorp.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-21-055775
- JSON: https://secwatch.observer/filing/0001213900-21-055775.json
- Plain text: https://secwatch.observer/filing/0001213900-21-055775.txt

## Key facts
- Executive change
  Eric Tech was appointed as Chief Executive Officer at SPRUCE POWER HOLDING CORP.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On November 1, 2021, the Company issued a press release announcing that it had entered into an Executive Employment Agreement with Eric Tech (the “Employment Agreement”), pursuant to which Mr. Tech agreed to serve as the Company’s Chief Executive Officer effective as of December 1, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1772720/000121390021055775/0001213900-21-055775-index.htm
- Executive change
  Declan Flanagan resigned as Class I independent director at SPRUCE POWER HOLDING CORP.
  - Action: resigned
  - Role: Class I independent director
  source text: On September 30, 2021, Declan Flanagan resigned from his role at Orsted A/S, resulting in a substantial change in his principal occupation and requiring that he tender his resignation as a Class I independent director of the Company pursuant to the Company’s Corporate Governance Guidelines. His resignation was accepted by the Company’s board of directors, effective as of October 31, 2021, and not the result of any disagreement with the Company on any matter relating to its operations, policies or practices.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1772720/000121390021055775/0001213900-21-055775-index.htm

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