Daniel Shugar

Chief Executive Officer at Nextracker

Since July 2013

Age

61 years

Education

Holds a Bachelor of Science degree in Electrical and Electronics Engineering from Rensselaer Polytechnic Institute and a Master of Business Administration from Golden Gate University.

Tenure

Founded Nextracker Inc. in July 2013 and has served as its Chief Executive Officer since that time.

Also at Nextracker

Bruce Ledesma

President, Strategy and Administration

Charles Boynton

Chief Financial Officer

Howard Wenger

President

About

Daniel Shugar has built a robust foundation in the solar energy industry, beginning his career in the late 1980s and accumulating extensive experience through various leading roles. He has held senior leadership positions at companies such as PowerLight Corporation, SunPower Corporation, and Solaria Corporation, which have contributed to his comprehensive expertise in the renewable energy sector.

With a strong background in both technology and business, his educational pursuits in Electrical and Electronics Engineering and an MBA provided him with the tools to navigate and innovate within this competitive field. His academic achievements complement his practical experience, establishing a blend of technical insight and strategic vision.

In July 2013, he founded Nextracker Inc. and assumed the role of Chief Executive Officer. Under his leadership, the company has grown into a key player in solar tracking technologies, reflecting his long-standing commitment to advancing sustainable energy solutions.

$NXT Performance Under Daniel Shugar

Past Roles

Organization	Role	Date Range	Details
Solaria Corporation	Chief Executive Officer	January 2010 - June 2013
SunPower Corporation	President of Systems	January 2007 - March 2009
PowerLight Corporation	President	1996 - 2007	Commercial and utility-scale solar system integrator
New World Power, Inc., Advance Photovoltaic Systems, Pacific Gas & Electric Company	Various positions	1986 - 1995	Held several roles in the solar businesses

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$863,000	Annual	Fixed annual base salary for FY24.
401(k) Matching Contributions	$13,200	Annual	401(k) matching contributions for FY24.
Medical/Enhanced Long-Term Disability	$1,767	Annual	Fixed medical/enhanced long-term disability component for FY24.

Performance Compensation

Data from FY 2024

Short-term Incentive Plan (STIP) Bonus

Metric	Details
Performance Metrics Weights	Revenue: 40% , Adjusted EBITDA: 40% , Adjusted Free Cash Flow: 20%
Bonus Payout Range	0% to 200% of target bonus
Actual Bonus Earned	$2,294,250 (200% of target)
Evaluation Period	Fiscal Year 2024
Additional Conditions	Individual performance factor adjusts payout from 0% to 100%

Performance-based PSUs

Metric	Details
Performance Metrics Weights	FY24 Revenue: 50% , FY24 Adjusted EBITDA: 50%
Targets (Financial)	Revenue Target: $2,190M , EBITDA Target: $285M
Actual Financial Performance	Revenue: $2,500M (114% of target) , EBITDA: $521M (183% of target)
rTSR Modifier	Adjusts payout between 75% and 150% of the financial component (max payout up to 300% of target)
Grant Date	June 21, 2023
Grant Date Fair Value	$7,792,991
Grant Date Stock Price	$54.53
Target Number of PSUs	142,912 shares
Initially Earned PSUs	285,824 shares (200% of target)
Vesting Schedule	PSUs vest in 2026 subject to performance period and continued service
Evaluation Period	April 1, 2023 – March 31, 2024

Stock Options

Metric	Details
Grant Date	June 21, 2023
Number of Options Granted	153,521
Grant Date Fair Value	$3,990,011
Exercise Price (Stock Price)	$40.47 per share
Vesting Schedule	Cliff vesting on the third anniversary (June 21, 2026)
Performance Metrics	Not applicable – time-based award