Sunworks CEO Gaylon Morris steps down; Mark Trout appointed CEO and director effective Oct 16, 2023

Sunworks, Inc.

Gaylon Morris resigned as CEO and director Oct 16, 2023; will remain as advisor through Dec 31, 2023.
Mark Trout, 59, appointed CEO and director, effective Oct 16; previously Group CEO of Solcius (Sunworks' residential unit).
Employment agreement: $475k base salary; annual bonus up to 200% of base (50% floor for 2023/2024); initial RSU grants of $650k.
Trout has 35+ years experience; former CTO at Sunrun and Vivint Solar, President of WeLink Communications.

item 5.02 item 9.01

Executive movements

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Departed

Gaylon Morris

Chief Executive Officer

Sunworks, Inc.

Effective: 2023-10-16
Successor: Mark Trout
Filed: October 18, 2023, 7:59 PM ET

On October 16, 2023, Gaylon Morris submitted to the Board of Directors (the "Board") of Sunworks, Inc. (the "Company") his resignation from his position as Chief Executive Officer and director of the Company, effective October 16, 2023.

Appointed

Mark Trout

Chief Executive Officer

Sunworks, Inc.

Effective: 2023-10-16
Filed: October 18, 2023, 7:59 PM ET

Effective October 16, 2023, the remaining Board appointed Mark Trout, age 59, who was the Group CEO of Solcius, the Company’s wholly owned residential solar business, as the Company’s Chief Executive Officer and as a member of the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Gaylon Morris resigned as Chief Executive Officer at Sunworks, Inc..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On October 16, 2023, Gaylon Morris submitted to the Board of Directors (the "Board") of Sunworks, Inc. (the "Company") his resignation from his position as Chief Executive Officer and director of the Company, effective October 16, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark Trout was appointed as Chief Executive Officer at Sunworks, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Effective October 16, 2023, the remaining Board appointed Mark Trout, age 59, who was the Group CEO of Solcius, the Company’s wholly owned residential solar business, as the Company’s Chief Executive Officer and as a member of the Board.

View on SEC.gov

Source: SEC EDGAR

accession 0001493152-23-037573

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