Harjinder Bhade
Blink ChargingAbout Harjinder Bhade
Harjinder Bhade, 61, is Chief Technology Officer at Blink Charging (BLNK) since May 2021; he previously served as CTO/SVP Engineering at ENGIE North America (Green Charge Networks), co-founded ChargePoint and led software engineering, with prior roles at Lucent, Riverstone Networks, and Pipal Systems; he holds a B.S. in Computer Science (CSU Chico) and an MBA (University of Phoenix) . Blink’s 2024 revenue was $126.2 million with net loss of $(198.1) million, and its cumulative TSR value of an initial $100 investment stood at $74.73 at year-end 2024; in 2023 revenue was $140.6 million, net loss $(203.7) million and TSR value $182.26 . In 2024 the company achieved technology goals (deploying Blink 2.0 network in North America and Europe) and delivered 32% gross margin, though it missed revenue and customer satisfaction targets in its incentive scorecard .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ENGIE North America (acquirer of Green Charge Networks) | CTO & SVP Engineering | Oct 2014–May 2021 | Led sustainable energy storage “as-a-service” technology; scaled commercial deployments . |
| ChargePoint | Founder; VP Software Engineering | Nov 2007–Sep 2014 | Built core product/software stack for global EV charging; early market leadership . |
| Lucent Technologies | Sr. Director, Software Engineering (Carrier Ethernet Solutions) | May 2006–Apr 2007 | Directed software engineering in carrier networking . |
| Riverstone Networks (acquired by Lucent) | Director, Software Engineering | Jan 2003–May 2006 | Led product software for carrier Ethernet platforms . |
| Pipal Systems | Founder & Director, Software Engineering | Nov 2001–Jan 2003 | Built networking software; entrepreneurial leadership . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ChargePoint | Advisory Board Member | Sep 2014–May 2021 | Advised on product/strategy during growth phase . |
Fixed Compensation
Multi-year compensation summary (NEO disclosure):
| Metric (USD) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary | $403,602 | $477,212 | $527,753 |
| Stock Awards (grant-date fair value) | $665,116 | $218,000 | $301,800 |
| Non-Equity Incentive Plan Compensation | $218,000 | $5,301,800 | $126,000 |
| All Other Compensation | $68,304 | $29,917 | $16,530 |
| Total | $1,355,022 | $6,026,929 | $972,083 |
Additional 2024 targets and payouts:
| 2024 Target/Payout | Value |
|---|---|
| Target Base Salary | $525,000 |
| Target Bonus % | 60% |
| Target Bonus $ | $315,000 |
| Actual Cash Bonus Paid | $126,000 |
Performance Compensation
2024 annual incentive scorecard and outcome (company metrics applied to NEOs including CTO):
| Metric | Weighting | Target | Achievement | Percent Achievement | Bonus Payout Contribution |
|---|---|---|---|---|---|
| Revenue | 20% | ≥ $165M excl. Blink Mobility | $120.1M | 0% | 0% |
| Gross Margin | 20% | 37% by Q4’24 | 35% | 50% | 10% |
| Adjusted EBITDA | 25% | Positive run-rate by Dec’24 (excl. Blink Mobility) | Not achieved; progress on cost savings | 20% | 5% |
| Technology | 15% | Deploy Blink Global Network; new products; prototypes | Blink 2.0 deployed NA+EU | 100% | 15% |
| Customer Satisfaction | 10% | Industry average | PlugShare score not met | 0% | 0% |
| Spin-off Blink Mobility | 10% | Spin-off by Q3’24 | S-1 filed | 100% | 10% |
| Total Bonus Payout | — | — | — | — | 40% initially; equity adjusted to 20% after review |
Equity grants tied to performance:
- 2024 performance granted in May 2025: RSU grant-date value $63,000; typical vesting 50% at first anniversary, remaining 50% over three years .
- 2023 performance granted April 5, 2024: 108,954 RSUs; grant-date value $301,800; vesting 50% on first anniversary and remaining 50% over three years .
Program design changes:
- Beginning with 2025 grants, performance-based equity measured over three years (moving away from single-year measurement) to improve pay-for-performance linkage .
Equity Ownership & Alignment
Beneficial ownership and components:
| Date (Record) | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| May 20, 2024 | 308,544 | <1% | Includes 52,095 options and other holdings for certain NEOs; Bhade’s line shows no options in that table but total shares as reported . |
| April 30, 2025 | 268,855 | <1% | Includes 72,636 shares issuable upon vesting of RSUs within 60 days; no option line for Bhade in 2025 table . |
Outstanding unvested RSUs (as of Dec 31, 2024):
| Grant | Unvested Units | Vesting Schedule | Change-of-Control Treatment |
|---|---|---|---|
| 3/21/2022 RSUs | 2,544 | Vest in full on 3/21/2025 | Immediate vesting on CoC |
| 3/15/2023 RSUs | 14,065 | 50% on 3/15/2025; 50% on 3/15/2026 | Immediate vesting on CoC |
| 4/05/2024 RSUs (tranche A) | 54,477 | Vest in full on 4/05/2025 | Immediate vesting on CoC |
| 4/05/2024 RSUs (tranche B) | 54,477 | 1/3 on 4/05/2025; 1/3 on 4/05/2026; 1/3 on 4/05/2027 | Immediate vesting on CoC |
Policy alignment and restrictions:
- Hedging/pledging company stock is prohibited for directors, officers, and employees .
- Ownership guidelines: Proxy 2024 indicates NEO ownership guidelines were adopted ; Proxy 2025 notes no specific share retention/ownership guidelines in effect for executives at that time .
Stock awards vested during 2024 (CTO):
- 18,173 shares vested; value realized $54,919 .
Employment Terms
Key terms under the October 30, 2023 offer letter (extends through Oct 2025; auto-renews annually):
- Base salary: $500,000; Target annual cash bonus: 60% of base; Target annual equity awards: 60% of base, issued as RSUs (50% vest at 1 year; 50% over 3 years) .
- Sign-on/retention: 150,000 RSUs granted upon execution; vest immediately .
- Severance (no cause termination): up to 12 months of base salary; accelerated vesting of annual equity awards for up to 12 months .
- Change-of-control economics: 12 months of base salary; if terminated without cause, immediate vesting of the balance of additional $5.5 million in awards, any unvested equity awards, and annual performance bonus, subject to release .
- Covenants: Confidentiality and assignment of inventions; non-compete applies during employment (no explicit post-termination non-compete stated) .
- Clawback: Company adopted a clawback policy in Dec 2023; Board retains discretion to recoup incentive compensation upon restatement; broader clawback discretion reiterated in 2025 proxy .
Investment Implications
- Alignment and vesting cadence: Material RSU vesting events in March/April 2025–2027 could create episodic selling pressure; all such awards accelerate upon change-of-control—a potential transaction incentive .
- Pay-for-performance evolution: Transition to three-year performance-based equity (starting 2025 grants) should strengthen long-horizon alignment; 2024 technology goals were fully achieved while revenue/CSAT missed, yielding a 40% cash payout and a 20% equity payout after Board adjustment .
- Retention risk and special awards: A prior one-time long-term cash incentive ($5.0 million in 2023) and embedded $5.5 million award acceleration in CoC terms materially elevate retention/transaction economics; monitor governance optics and future disclosure clarity .
- Governance and trading risk: Hedging/pledging bans reduce misalignment risk; note one late Form 4 for Bhade in 2023 and relatively low 2024 say-on-pay support (≈63%), which prompted program changes and enhanced disclosure .
- Legal overhang cleared: SEC investigation closed with no enforcement action in Jan 2025, reducing legal risk and operating costs per management .
Peer group and benchmarking: Korn Ferry and comparative peers (Allego, Beam Global, ChargePoint, EVgo, Nuvve, Tritium, Wallbox) are used for compensation benchmarking, generally targeting the 25th–75th percentile range based on role scope and market norms .
References
- Biographical and role details
- Annual pay, incentives, vesting, and ownership tables
- 2024 bonus scorecard and payouts
- Equity program changes
- Hedging/pledging policies
- Clawback policies
- Employment terms, severance, CoC
- Pay vs performance, revenue, net loss, TSR
- Say-on-pay context
- SEC investigation closure