SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Securities Exchange Act of 1934
To Be Held on May 15, 2024
Chief Legal Officer and General Counsel
April 3, 2024
Los Angeles, CA
| |
Important Notice Regarding the Availability of Proxy Materials for the Stockholders’ Meeting to Be Held on May 15, 2024.
The Proxy Statement, the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and the Notice are available at www.proxyvote.com.
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FOR THE 2024 ANNUAL MEETING OF STOCKHOLDERS
TO BE HELD ON MAY 15, 2024
Name
|
| |
Age
|
| |
Primary Occupation
|
| |
Position at EVgo
|
| |
Director Since
|
|
David Nanus(1) | | | 49 | | | President, LS Power Equity Advisors, LLC | | | Director | | | July 2021 | |
Katherine Motlagh(1)(2)(3)
|
| | 50 | | | Retired; Former EVP and CFO of CyrusOne LLC | | | Director | | | April 2022 | |
Scott Griffith(1)(2)(3)
|
| | 65 | | | Retired; Former Chairman and CEO of Zipcar, Inc. | | | Director | | | April 2024 | |
Name
|
| |
Age
|
| |
Primary Occupation
|
| |
Position at EVgo
|
| |
Director Since
|
|
Class I Directors | | | | | | | | | | | | | |
Badar Khan | | | 53 | | | Chief Executive Officer, EVgo | | |
Chief Executive
Officer and Director |
| | May 2022 | |
Joseph Esteves | | | 63 | | | Chief Financial Officer, LS Power | | | Director | | | July 2021 | |
Peter Anderson(1) | | | 35 | | | Managing Director, LS Power | | | Director | | | March 2023 | |
Class II Directors | | | | | | | | | | | | | |
Paul Segal | | | 49 | | | Chief Executive Officer, LS Power | | | Director | | | May 2023 | |
Darpan Kapadia | | | 51 | | | Chief Operating Officer, LS Power | | | Director | | | July 2021 | |
Jonathan Seelig(1)(2)(3) | | | 51 | | | Retired; Former Chairman of Ridge | | | Director | | | May 2023 | |
| | |
Year Ended December 31,
|
| |||||||||
| | |
2023
|
| |
2022
|
| ||||||
Audit Fees(1)
|
| | | $ | 1,750,697 | | | | | $ | 2,309,913 | | |
Tax Fees(2)
|
| | | | 120,000 | | | | | | 320,221 | | |
All Other Fees(3)
|
| | | | 50,000 | | | | | | — | | |
Total Fees
|
| | | $ | 1,920,697 | | | | | $ | 2,630,134 | | |
|
Total Number of Directors
|
| |
9
|
| | | | | | | | | |
| | |
Female
|
| |
Male
|
| |
Non-
Binary |
| |
Did Not
Disclose Gender |
| ||||||
Part I: Gender Identity
|
| | | | | | | | | | | | | | | | | | |
Directors
|
| | | | 1 | | | | | | 8 | | | | | ||||
Part II: Demographic Background
|
| | | | | | | | | | | | | | | | | | |
African American or Black
|
| | | | | | | | | | | | | | | | | | |
Alaskan Native or Native American
|
| | | | | | | | | | | | | | | | | | |
Asian
|
| | | | | | | | | | 2 | | | | | | | | |
Hispanic or Latinx
|
| | | | | | | | | | 1 | | | | | | | | |
Native Hawaiian or Pacific Islander
|
| | | | | | | | | | | | | | | | | | |
White
|
| | | | 1 | | | | | | 5 | | | | | | | | |
Two or More Races or Ethnicities
|
| | | | | | | | | | | | | | | | | | |
LGBTQ+
|
| | | | | | | | | | | | | | | | | | |
Did Not Disclose Demographic Background
|
| | | | | | | | | | | | | | | | | | |
Total Number of Directors
|
| |
9
|
| | | | | | | | | | | | | |||
| | |
Female
|
| |
Male
|
| |
Non-
Binary |
| |
Did Not
Disclose Gender |
| ||||||
Part I: Gender Identity
|
| | | | | | | | | | | | | | | | | | |
Directors
|
| | | | 3 | | | | | | 6 | | | | | | | | |
Part II: Demographic Background
|
| | | | | | | | | | | | | | | | | | |
African American or Black
|
| | | | | | | | | | 1 | | | | | | | | |
Alaskan Native or Native American
|
| | | | | | | | | | | | | | | | | | |
Asian
|
| | | | | | | | | | 2 | | | | | | | | |
Hispanic or Latinx
|
| | | | | | | | | | 1 | | | | | | | | |
Native Hawaiian or Pacific Islander
|
| | | | | | | | | | | | | | | | | | |
White
|
| | | | 3 | | | | | | 2 | | | | | | | | |
Two or More Races or Ethnicities
|
| | | | | | | | | | | | | | | | | | |
LGBTQ+
|
| | | | | | | | | | | | | | | | | | |
Did Not Disclose Demographic Background
|
| | | | | | | | | | | | | | | | | | |
Name
|
| |
Age
|
| |
Position
|
|
Badar Khan | | |
53
|
| | Chief Executive Officer and Director | |
Olga Shevorenkova | | |
36
|
| | Chief Financial Officer | |
Dennis Kish | | |
60
|
| | President | |
Francine Sullivan | | |
51
|
| | Chief Legal Officer and General Counsel | |
Name and Principal Position
|
| |
Year
|
| |
Salary
($) |
| |
Bonus
($) |
| |
Stock
Awards ($)(1) |
| |
Option
Awards ($)(2) |
| |
Non-Equity
Incentive Plan Compensation(3) |
| |
All Other
Compensation ($)(4) |
| |
Total ($)
|
| ||||||||||||||||||||||||
Badar Khan
|
| | | | 2023 | | | | | | 79,327(5) | | | | | | — | | | | | | 3,756,299(6) | | | | | | 232,329 | | | | | | 84,155(5) | | | | | | 188,825(7) | | | | | | 4,340,935 | | |
CEO and Director(5)
|
| | | | |||||||||||||||||||||||||||||||||||||||||||||
Catherine Zoi
|
| | | | 2023 | | | | | | 500,000 | | | | | | — | | | | | | 1,292,461(8) | | | | | | 9,005,446(8) | | | | | | 500,000 | | | | | | 2,388 | | | | | | 11,300,295 | | |
Former CEO and Director
|
| | | | 2022 | | | | | | 500,000 | | | | | | — | | | | | | 2,545,436 | | | | | | 1,124,842 | | | | | | 425,000 | | | | | | 6,821 | | | | | | 4,602,099 | | |
Dennis Kish
|
| | | | 2023 | | | | | | 375,000 | | | | | | — | | | | | | 1,333,115 | | | | | | 445,995 | | | | | | 298,474 | | | | | | 1,790 | | | | | | 2,454,374 | | |
President and Former COO
|
| | | | 2022 | | | | | | 375,000 | | | | | | — | | | | | | 1,763,128 | | | | | | 449,942 | | | | | | 250,000 | | | | | | 6,640 | | | | | | 2,844,710 | | |
Olga Shevorenkova
|
| | | | 2023 | | | | | | 269,234(9) | | | | | | — | | | | | | 1,427,678 | | | | | | 505,461 | | | | | | 265,451 | | | | | | 1,671 | | | | | | 2,469,495 | | |
Chief Financial Officer
|
| | | | 2022 | | | | | | 350,000 | | | | | | — | | | | | | 1,405,688 | | | | | | 624,918 | | | | | | 230,000 | | | | | | 6,604 | | | | | | 2,617,210 | | |
Named Executive Officer
|
| |
Dollar Value of
Stock Options |
| |
Dollar Value
of RSUs |
| |
Dollar Value
of PSUs |
| |||||||||
Catherine Zoi
|
| | | $ | 1,500,000 | | | | | $ | 2,250,000 | | | | | | — | | |
Badar Khan
|
| | | $ | 232,329 | | | | | $ | 3,348,493 | | | | | $ | 3,000,000 | | |
Dennis Kish
|
| | | $ | 600,000 | | | | | $ | 900,000 | | | | | | — | | |
Olga Shevorenkova
|
| | | $ | 680,000 | | | | | $ | 1,020,000 | | | | | | — | | |
Name
|
| |
Grant Date
|
| |
Option Awards
|
| |
Stock Awards
|
| |||||||||||||||||||||||||||||||||||||||||||||
|
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number of
Shares or Units of Stock That Have Not Vested (#) |
| |
Market Value
of Shares or Units of Stock That Have Not Vested ($)(1) |
| |
Equity Incentive
Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) |
| |
Equity Incentive
Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(1) |
| ||||||||||||||||||||||||||||||||
Catherine Zoi | | | | | 7/26/2021(2) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 99,681 | | | | | | 356,858 | | | | | | — | | | | | | — | | |
| | | | | 4/1/2022(3) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 66,547 | | | | | | 238,238 | | | | | | — | | | | | | — | | |
| | | | | 4/1/2022(4) | | | | | | 42,662 | | | | | | 42,662 | | | | | | 12.86 | | | | | | 3/31/2032 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 4/3/2023(5) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 130,208 | | | | | | 466,145 | | | | | | — | | | | | | — | | |
| | | | | 4/3/2023(6) | | | | | | — | | | | | | 102,669 | | | | | | 7.79 | | | | | | 4/2/2033 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 1/16/2020(7) | | | | | | 29,250 | | | | | | 30,750 | | | | | | 10 | | | | | | N/A | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 1/16/2020(7) | | | | | | 29,250 | | | | | | 30,750 | | | | | | 20 | | | | | | N/A | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 1/16/2020(7) | | | | | | 29,250 | | | | | | 30,750 | | | | | | 30 | | | | | | N/A | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Badar Khan | | | | | 6/9/2022(8) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,562 | | | | | | 12,752 | | | | | | — | | | | | | — | | |
| | | | | 5/18/2023(9) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 29,575 | | | | | | 105,879 | | | | | | — | | | | | | — | | |
| | | | | 11/13/2023(10) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 786,031 | | | | | | 2,813,991 | | | | | | — | | | | | | — | | |
| | | | | 11/13/2023(11) | | | | | | — | | | | | | 118,535 | | | | | | 2.76 | | | | | | 11/12/2033 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 11/13/2023(12) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 704,225 | | | | | | 2,521,125 | | |
Dennis Kish | | | | | 1/25/2022(13) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 62,067 | | | | | | 222,200 | | | | | | — | | | | | | — | | |
| | | | | 4/1/2022(3) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 53,636 | | | | | | 192,017 | | | | | | — | | | | | | — | | |
| | | | | 4/1/2022(4) | | | | | | 17,065 | | | | | | 34,130 | | | | | | 12.86 | | | | | | 3/31/2032 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 4/3/2023(5) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 156,250 | | | | | | 559,375 | | | | | | — | | | | | | — | | |
| | | | | 4/3/2023(6) | | | | | | — | | | | | | 123,203 | | | | | | 7.79 | | | | | | 4/2/2033 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 8/10/2023(14) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 87,934 | | | | | | 314,804 | | | | | | — | | | | | | — | | |
Olga Shevorenkova | | | | | 7/26/2021(2) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 53,164 | | | | | | 190,327 | | | | | | — | | | | | | — | | |
| | | | | 4/1/2022(3) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 73,500 | | | | | | 263,130 | | | | | | — | | | | | | — | | |
| | | | | 4/1/2022(4) | | | | | | 23,701 | | | | | | 47,403 | | | | | | 12.86 | | | | | | 3/31/2032 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 4/3/2023(5) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 177,083 | | | | | | 633,957 | | | | | | — | | | | | | — | | |
| | | | | 4/3/2023(6) | | | | | | — | | | | | | 139,630 | | | | | | 7.79 | | | | | | 4/2/2033 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 8/10/2023(14) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 82,072 | | | | | | 293,818 | | | | | | — | | | | | | — | | |
| | | | | 1/16/2020(7) | | | | | | 14,625 | | | | | | 15,375 | | | | | | 10 | | | | | | N/A | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 1/16/2020(7) | | | | | | 14,625 | | | | | | 15,375 | | | | | | 20 | | | | | | N/A | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 1/16/2020(7) | | | | | | 14,625 | | | | | | 15,375 | | | | | | 30 | | | | | | N/A | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Name
|
| |
Fees Earned or
Paid in Cash ($) |
| |
Stock
Awards ($)(5)(6) |
| |
All Other
Compensation ($) |
| |
Total ($)
|
| ||||||||||||
Kate Brandt(1)
|
| | | | 21,641 | | | | | | 125,653 | | | | | | — | | | | | | 147,294 | | |
Rodney Slater(1)
|
| | | | 29,169 | | | | | | 125,653 | | | | | | — | | | | | | 154,822 | | |
Katherine Motlagh(2)
|
| | | | 85,000 | | | | | | 123,032 | | | | | | — | | | | | | 208,032 | | |
Jonathan Seelig
|
| | | | 48,331 | | | | | | 125,405(3) | | | | | | 18,819(4) | | | | | | 192,555 | | |
Name
|
| |
Unvested RSU
Awards |
| |||
Kate Brandt
|
| | | | — | | |
Rodney Slater
|
| | | | — | | |
Katherine Motlagh
|
| | | | 32,360 | | |
Jonathan Seelig
|
| | | | 58,252 | | |
Plan Category
|
| |
Number of
shares of Class A Common Stock to be issued upon exercise of outstanding options, warrants and rights |
| |
Weighted- average
exercise price of outstanding options, warrants and rights |
| |
Number of shares
of Class A Common Stock remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) |
| |||||||||
| | |
(a)
|
| |
(b)
|
| | | | | | | ||||||
Equity compensation plans approved by security holders
|
| | | | 10,875,377(1) | | | | | $ | 8.66(2) | | | | | | 20,784,651(3) | | |
Equity compensation plans not approved by security holders
|
| | | | — | | | | | $ | — | | | | | | — | | |
Total | | | | | 10,875,377 | | | | | $ | — | | | | | | 20,784,651 | | |
Jonathan Seelig
| | |
Shares of Common Stock Beneficially Owned
|
| |||||||||||||||||||||||||||||||||
| | |
Class A Common Stock
|
| |
Class B Common Stock
|
| |
Combined Voting Power(1)
|
| |||||||||||||||||||||||||||
| | |
Number
|
| |
%
|
| |
Number
|
| |
%
|
| |
Number
|
| |
%
|
| ||||||||||||||||||
5% Stockholders: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
EVgo Member Holdings, LLC(2)
|
| | | | 5,882,352 | | | | | | 5.5 | | | | | | 195,800,000 | | | | | | 100.0% | | | | | | 201,682,352 | | | | | | 66.8% | | |
The Vanguard Group(3)
|
| | | | 9,661,554 | | | | | | 9.1 | | | | | | — | | | | | | — | | | | | | 9,661,554 | | | | | | 3.2 | | |
BlackRock, Inc.(4)
|
| | | | 8,268,270 | | | | | | 7.8 | | | | | | — | | | | | | — | | | | | | 8,268,270 | | | | | | 2.7 | | |
Directors, Director Nominees and Named Executive Officers:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Badar Khan(5)
|
| | | | 50,230 | | | | | | * | | | | | | — | | | | | | — | | | | | | 50,230 | | | | | | * | | |
Catherine Zoi(6)
|
| | | | 482,222 | | | | | | * | | | | | | — | | | | | | — | | | | | | 482,222 | | | | | | * | | |
Dennis Kish(7)
|
| | | | 75,197 | | | | | | * | | | | | | — | | | | | | — | | | | | | 75,197 | | | | | | * | | |
Olga Shevorenkova(8)
|
| | | | 175,186 | | | | | | * | | | | | | — | | | | | | — | | | | | | 175,186 | | | | | | * | | |
David Nanus(2)
|
| | | | 5,882,352 | | | | | | 5.5 | | | | | | 195,800,000 | | | | | | 100.0% | | | | | | 201,682,352 | | | | | | 66.8% | | |
Joseph Esteves
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Darpan Kapadia
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Peter Anderson
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Paul Segal
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Katherine Motlagh(9)
|
| | | | 45,726 | | | | | | * | | | | | | — | | | | | | — | | | | | | 45,726 | | | | | | * | | |
Jonathan Seelig(10)
|
| | | | 20,699 | | | | | | * | | | | | | — | | | | | | — | | | | | | 20,699 | | | | | | * | | |
Scott Griffith
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Current Directors, Director Nominees
and Executive Officers as a Group (12 persons) |
| | | | 6,400,720 | | | | | | 6.0% | | | | | | 195,800,000 | | | | | | 100.0% | | | | | | 202,200,720 | | | | | | 67.0% | | |