AI English summary of an SEC filing — figures as filed
NextEra Energy NEENextEra said Bolster was appointed Executive Vice President, Finance and Chief Financial Officer effective May 6, 2024, succeeding T. Kirk Crews II, who moved to the newly created Chief Risk Officer role.
Key points
AI summaryNextEra said Bolster was appointed Executive Vice President, Finance and Chief Financial Officer effective May 6, 2024, succeeding T. Kirk Crews II, who moved to the newly created Chief Risk Officer role.
The company said Bolster, 52, spent nearly 25 years at Goldman Sachs & Co. LLC and has served as Partner Managing Director, Head of Natural Resources Investment Banking (Americas), since September 2020. It also disclosed that he was appointed Chief Financial Officer of Florida Power & Light Company on the same day.
The company said Bolster's annual base salary is $950,000, his annual incentive plan target is 70% of base salary, and the target grant date value of his equity compensation awards for 2024 is $3,400,000. The mix is a performance share award at 60%, performance-based restricted stock at 20%, and non-qualified stock options at 20%.
NextEra said it granted Bolster a $1,500,000 cash sign-on bonus, which is subject to repayment if he leaves within 36 months, and performance-based restricted stock with a grant date value of $1,500,000. It also approved his participation in the Executive Severance Benefit Plan and an executive retention employment agreement that provides protections in a change in control during a 3-year transition period.
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.
CFO Change and New Chief Risk Officer Role
NextEra said Bolster was appointed Executive Vice President, Finance and Chief Financial Officer effective May 6, 2024, succeeding T. Kirk Crews II, who moved to the newly created Chief Risk Officer role.
Source · Based on the filing body and exhibits
Bolster's Background and Florida Power & Light Role
The company said Bolster, 52, spent nearly 25 years at Goldman Sachs & Co. LLC and has served as Partner Managing Director, Head of Natural Resources Investment Banking (Americas), since September 2020. It also disclosed that he was appointed Chief Financial Officer of Florida Power & Light Company on the same day.
Source · Based on the filing body and exhibits
Bolster's Salary, Incentives and Equity Awards
The company said Bolster's annual base salary is $950,000, his annual incentive plan target is 70% of base salary, and the target grant date value of his equity compensation awards for 2024 is $3,400,000. The mix is a performance share award at 60%, performance-based restricted stock at 20%, and non-qualified stock options at 20%.
Source · Based on the filing body and exhibits
Bolster's Sign-On Bonus and Severance and Change-in-Control Protections
NextEra said it granted Bolster a $1,500,000 cash sign-on bonus, which is subject to repayment if he leaves within 36 months, and performance-based restricted stock with a grant date value of $1,500,000. It also approved his participation in the Executive Severance Benefit Plan and an executive retention employment agreement that provides protections in a change in control during a 3-year transition period.
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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