Bloom Energy Corporation filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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Industrial Machinery/Components
Energy
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): August 29, 2024
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 29, 2024, the Compensation and Organizational Development Committee (the “Compensation Committee”) of the Board of Directors (the “Board”) of Bloom Energy Corporation (“Bloom Energy” or the “Company”) approved the grant of performance-based stock options (the “PSOs”) to purchase a target of 180,000 shares of Class A common stock to Aman Joshi, the Company’s Chief Commercial Officer. Mr. Joshi joined the Company in January 2024. The PSOs are eligible to be earned and vest in three equal annual installments over the performance periods (fiscal 2024, 2025, and 2026). The number of shares issuable in respect of the PSO may be up to 1.5 times the target based on performance. As a result, Mr. Joshi can earn between 0% and 150% of the PSOs, for a maximum of 270,000 shares of Class A common stock that may be issued. Achievement of the PSOs is based on a combination of operational and financial goals, including specific revenue and non-GAAP gross margin targets. The PSOs vest on the 15th of the month following the Compensation Committee’s certification of achievement of performance against these annual goals. Vesting of the PSOs is also subject to Mr. Joshi’s continued service. Mr. Joshi’s total compensation is further described in the Company’s Current Report on Form 8-K filed on January 9, 2024.
Item 9.01 Financial Statements and Exhibits
Exhibits
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104 | Cover page interactive data file (embedded within the inline XBRL document). | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| BLOOM ENERGY CORPORATION | ||||||||||||||||||||||||||||||||||||||||||||
| Date: | By: | /s/ Shawn Soderberg | ||||||||||||||||||||||||||||||||||||||||||
| Shawn Soderberg | ||||||||||||||||||||||||||||||||||||||||||||
| Chief Legal Officer and Corporate Secretary | ||||||||||||||||||||||||||||||||||||||||||||