8-KLeadership ChangesRegulation FDExhibits & Filings

Bloom Energy Corp 8-K Report, Executive Changes (Jul 25, 2024)

Filed July 25, 2024For Securities:BE

Summary

Bloom Energy Corporation (BE) announced a change to its Board of Directors in an 8-K filing dated July 25, 2024. The company increased the size of its Board from eight to nine directors and appointed Dr. Barbara Burger as a Class II director, effective August 1, 2024. Dr. Burger brings significant experience from her previous role as Vice President, Innovation at Chevron and President of Chevron Technology Ventures, and currently serves as an advisor and board member for other companies. Her appointment to the Board, and specifically to the Nominating, Governance, and Public Policy Committee, is intended to leverage her expertise in innovation and industrial sectors. Dr. Burger will receive standard compensation for a non-employee director, which has recently been amended to include an initial equity award with a fair value of approximately $350,000, vesting over three years. This move signals Bloom Energy's ongoing commitment to strengthening its governance and strategic oversight with experienced leadership.

Key Highlights

  • 1Bloom Energy increased its Board of Directors from eight to nine members.
  • 2Dr. Barbara Burger was appointed as a Class II director, effective August 1, 2024.
  • 3Dr. Burger's background includes extensive experience from Chevron, including her role as VP, Innovation and President of Chevron Technology Ventures.
  • 4She will serve on the Company’s Nominating, Governance, and Public Policy Committee.
  • 5Dr. Burger's appointment does not involve any undisclosed arrangements or material interests.
  • 6Non-employee director compensation was recently amended to include an initial equity award valued at approximately $350,000, vesting over three years.
  • 7Dr. Burger elected to receive her equity award in the form of Restricted Stock Units (RSUs).

Frequently Asked Questions

Bloom Energy increased its Board size to accommodate the appointment of a new director, Dr. Barbara Burger, indicating a strategic decision to add more expertise and oversight to the Board.

Dr. Burger has a strong background in innovation and technology, having previously served as Vice President, Innovation at Chevron and President of Chevron Technology Ventures. She also has experience as an advisor and board member for other industrial and civic firms.

Dr. Burger will receive the standard compensation for a non-employee director, which includes an initial equity award valued at approximately $350,000, vesting over three years. She has elected to receive this award in the form of Restricted Stock Units (RSUs).

Her appointment to this committee suggests that Bloom Energy values her expertise in governance, innovation, and public policy as the company navigates its strategic initiatives and corporate responsibility.