Nextracker adopts executive severance plans with enhanced CEO benefits

Nextpower Inc.

CEO gets 2x (base salary + target bonus) cash severance; other EVP+ executives get 1x.
Equity acceleration: CEO’s service-based awards vest for 18 months post-termination, others 12 months.
Performance-based awards vest at target; pro-rata service acceleration for non-CIC severance.
Change-in-control plan: all executives receive 2x (salary + higher of target/actual bonus), full equity acceleration, 2 years COBRA.
Outplacement up to $20,000 for CEO, $15,000 for others; benefits conditional on release and restrictive covenants.

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