AI English summary of an SEC filing — figures as filed
Bloom Energy BEBloom Energy said its Compensation and Organizational Development Committee of the Board of Directors approved a grant to Aman Joshi, its Chief Commercial Officer, of performance-based stock options to purchase a target of 180,000 shares of Class A common stock. On August 29, 2024
Key points
AI summaryBloom Energy said its Compensation and Organizational Development Committee of the Board of Directors approved a grant to Aman Joshi, its Chief Commercial Officer, of performance-based stock options to purchase a target of 180,000 shares of Class A common stock. On August 29, 2024
The company said the number of shares issuable under the PSOs may be up to 1.5 times the target based on performance, so 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.
The company said the PSOs are eligible to be earned and vest in 3 equal annual installments over the performance periods of fiscal 2024, fiscal 2025 and fiscal 2026. It said achievement is based on a combination of operational and financial goals, including specific revenue and non-GAAP gross margin targets.
The company said the PSOs vest on the 15th of the month following the Compensation Committee's certification of achievement against the annual goals, and vesting is also subject to Joshi's continued service. It said Joshi joined the company in January 2024, and that his total compensation is described in the Form 8-K it filed on January 9, 2024.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Approval of Performance-Based Stock Options for Chief Commercial Officer
Bloom Energy said its Compensation and Organizational Development Committee of the Board of Directors approved a grant to Aman Joshi, its Chief Commercial Officer, of performance-based stock options to purchase a target of 180,000 shares of Class A common stock. On August 29, 2024
Source · Based on the filing body and exhibits
0% to 150% of Awards Based on Performance, Up to 270,000 Shares
The company said the number of shares issuable under the PSOs may be up to 1.5 times the target based on performance, so 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.
Source · Based on the filing body and exhibits
Equal Annual Vesting in 3 Installments for Fiscal 2024 to 2026
The company said the PSOs are eligible to be earned and vest in 3 equal annual installments over the performance periods of fiscal 2024, fiscal 2025 and fiscal 2026. It said achievement is based on a combination of operational and financial goals, including specific revenue and non-GAAP gross margin targets.
Source · Based on the filing body and exhibits
Vesting on the 15th Day of the Month After Committee Certification, Subject to Service
The company said the PSOs vest on the 15th of the month following the Compensation Committee's certification of achievement against the annual goals, and vesting is also subject to Joshi's continued service. It said Joshi joined the company in January 2024, and that his total compensation is described in the Form 8-K it filed on January 9, 2024.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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