Greenbacker NAV drops 35.5% to $5.03; CEO Wheeler steps down, interim CEO appointed

Greenbacker Renewable Energy Co LLC

Aggregate NAV per share adjusted to $5.03 as of Dec 31, 2024, a 35.5% decrease from Sept 30, 2024.
CEO Charles Wheeler resigned effective April 1, 2025; becomes Founder & Chairman Emeritus at $750k/yr base salary.
Daniel De Boer appointed Interim CEO; Robert Brennan named Chairman of the Board, both effective April 1.
Wheeler retains service-based equity awards vesting before April 1, 2027 (~85,126 RSUs); other equity forfeited.
Transition agreement provides severance through April 2027 if terminated without cause or at term end.

item 5.02 item 8.01 item 9.01

Executive movements

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Appointed (interim)

Daniel De Boer

Interim Chief Executive Officer

Greenbacker Renewable Energy Co LLC

Effective: 2025-04-01
Filed: March 31, 2025, 7:59 PM ET

the Board appointed the Company’s Managing Director and Head of Infrastructure, Mr. Daniel De Boer, age 39, as the Company’s Interim CEO, effective April 1, 2025.

Role change

Charles Wheeler

Founder and Chairman Emeritus

Greenbacker Renewable Energy Co LLC

Effective: 2025-04-01
Successor: Daniel De Boer
Filed: March 31, 2025, 7:59 PM ET

On March 28, 2025, Mr. Charles Wheeler provided a letter of resignation to Greenbacker Renewable Energy Company LLC (the “Company”) pursuant to which, on April 1, 2025 (the “Transition Date”), he will step down as Chief Executive Officer (“CEO”) of the Company and as Chairman of the Company’s board of directors (the “Board”) and as a member of the Board’s nominating and governance committee.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Daniel De Boer was appointed as Interim Chief Executive Officer at Greenbacker Renewable Energy Co LLC.

Action: appointed
Role: Interim Chief Executive Officer

Exact text from the filing

the Board appointed the Company’s Managing Director and Head of Infrastructure, Mr. Daniel De Boer, age 39, as the Company’s Interim CEO, effective April 1, 2025.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Charles Wheeler changed role as Founder and Chairman Emeritus at Greenbacker Renewable Energy Co LLC.

Action: step down as CEO and Chairman
Role: Founder and Chairman Emeritus

Exact text from the filing

On March 28, 2025, Mr. Charles Wheeler provided a letter of resignation to Greenbacker Renewable Energy Company LLC (the “Company”) pursuant to which, on April 1, 2025 (the “Transition Date”), he will step down as Chief Executive Officer (“CEO”) of the Company and as Chairman of the Company’s board of directors (the “Board”) and as a member of the Board’s nominating and governance committee.

View on SEC.gov

Source: SEC EDGAR

accession 0001753926-25-000539

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