Summary
Bloom Energy Corporation (BE) announced on April 17, 2024, a significant leadership change in its finance department. Daniel Berenbaum has been appointed as the new Chief Financial Officer (CFO), effective April 29, 2024. He succeeds Greg Cameron, whose departure was previously announced. Mr. Berenbaum brings a wealth of experience, most recently serving as Executive Vice President and CFO at National Instruments Corporation prior to its acquisition. The appointment comes with a comprehensive compensation package designed to attract and retain Mr. Berenbaum. This includes a base salary of $575,000, eligibility for a 100% target annual incentive bonus, a $200,000 sign-on bonus, and a $150,000 relocation payment. Additionally, he will receive substantial equity awards, including 200,000 Restricted Stock Units (RSUs) vesting over four years and 100,000 Performance Stock Units (PSUs) with a potential upside, subject to performance metrics and continued employment.
Key Highlights
- 1Bloom Energy appoints Daniel Berenbaum as new Chief Financial Officer (CFO), effective April 29, 2024.
- 2Mr. Berenbaum replaces Greg Cameron, who is departing the company in mid-May 2024.
- 3Mr. Berenbaum joins Bloom Energy from National Instruments Corporation, where he held the CFO position.
- 4The new CFO's compensation package includes a $575,000 annual base salary and a target annual incentive bonus of 100% of base salary.
- 5A sign-on bonus of $200,000 and a relocation payment of $150,000 are part of the agreement.
- 6Mr. Berenbaum will receive 200,000 RSUs vesting over four years.
- 7Performance Stock Units (PSUs) of 100,000 shares are also granted, with vesting contingent on performance metrics and potential for a 50% upside.