---
schema_version: "secwatch.filing_event.v1"
accession: "0001753926-25-000539"
form_type: "8-K"
ticker: null
cik: "0001563922"
company_name: "Greenbacker Renewable Energy Co LLC"
filed_at: "2025-03-31T23:59:59+00:00"
generated_at: "2026-05-24T01:47:49.501214+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001753926-25-000539
- form_type: 8-K
- cik: 0001563922
- company_name: Greenbacker Renewable Energy Co LLC
- filed_at: 2025-03-31T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1563922/000175392625000539/0001753926-25-000539-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1563922/000175392625000539/g084741_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001753926-25-000539
- JSON: https://secwatch.observer/filing/0001753926-25-000539.json
- Plain text: https://secwatch.observer/filing/0001753926-25-000539.txt

## Key facts
- Executive change
  Daniel De Boer was appointed as Interim Chief Executive Officer at Greenbacker Renewable Energy Co LLC.
  - Action: appointed
  - Role: Interim Chief Executive Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1563922/000175392625000539/0001753926-25-000539-index.htm
- Executive change
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1563922/000175392625000539/0001753926-25-000539-index.htm

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