Spruce Power appoints Chairman Chris Hayes as CEO, replacing Christian Fong; Dr. Audrey Lee joins board

SPRUCE POWER HOLDING CORP

Chris Hayes appointed CEO and President effective April 12, 2024; remains Chairman of the Board.
Christian Fong resigns as CEO and director; eligible for severance of 18 months base salary ($650k) plus 1.5x target bonus, equity acceleration, COBRA.
Dr. Audrey Lee appointed as Class C director; currently Senior Director of Datacenter Energy Strategy at Microsoft.
Hayes compensation: $650k base salary, 100% target bonus, equity award valued at 170% of base salary (70% options, 30% RSUs) vesting over 4 years.
Hayes cites initiatives to leverage 75,000 home solar assets into a managed service platform for organic growth.

item 5.02 item 8.01 item 9.01

Executive movements

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Appointed

Christopher Hayes

Chief Executive Officer and President

SPRU · SPRUCE POWER HOLDING CORP

Effective: 2024-04-12
Filed: April 15, 2024, 7:59 PM ET

appointed Mr. Christopher Hayes, as Chief Executive Officer and President of the Company, effective April 12, 2024

Departed

Christian Fong

Chief Executive Officer and Director

SPRU · SPRUCE POWER HOLDING CORP

Effective: 2024-04-12
Successor: Christopher Hayes
Filed: April 15, 2024, 7:59 PM ET

Mr. Hayes succeeds Christian Fong, whose separation from the Company and resignation as a director is effective as of the Transition Date.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Christopher Hayes was appointed as Chief Executive Officer and President at SPRUCE POWER HOLDING CORP.

Action: appointed
Role: Chief Executive Officer and President

Exact text from the filing

appointed Mr. Christopher Hayes, as Chief Executive Officer and President of the Company, effective April 12, 2024

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Christian Fong resigned as Chief Executive Officer and Director at SPRUCE POWER HOLDING CORP.

Action: resigned
Role: Chief Executive Officer and Director

Exact text from the filing

Mr. Hayes succeeds Christian Fong, whose separation from the Company and resignation as a director is effective as of the Transition Date.

View on SEC.gov

SPRUCE POWER HOLDING CORP filing history →

Source: SEC EDGAR

accession 0001213900-24-032781

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