Ty Daul
Shoals Technologies GroupAbout Ty Daul
Ty Daul (age 57) has served as an independent director of Shoals Technologies Group since March 2021 and is nominated for a one-year term expiring at the 2026 annual meeting . He is a career energy executive with 30+ years in power generation, currently CEO and director of Primergy Solar; his prior roles include senior leadership at Canadian Solar/Recurrent Energy, SunPower, Element Power, Iberdrola Renewables, Entergy, and Newport Generation Ventures . He holds a B.S. in Mechanical Engineering (University of Washington) and an MBA (Texas A&M University) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Primergy Solar | Chief Executive Officer and Director | May 2020 – present | Executive leadership of utility-scale and distributed PV + storage across North America |
| Canadian Solar / Recurrent Energy Group | VP, Energy Project Development (Americas); President, Recurrent Energy | Mar 2017 – May 2020 | Led U.S. project development arm; extensive transaction execution |
| SunPower Corporation | SVP, Americas Power Plants | May 2015 – Mar 2017 | Oversight of power plant development |
| 8point3 Energy Partners LP (public yieldco) | Director | Jun 2015 – Mar 2017 | Board member during joint venture of SunPower and First Solar |
| Element Power | Co-founder; Head of Wind/Solar Americas | 2009 – ~2014 | Built wind/solar pipeline in Americas |
| Iberdrola Renewables; Entergy; Newport Generation Ventures | Various roles | Prior years (7 years at Iberdrola) | Portfolio execution across generation assets |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| LandBridge Company, LLC (NYSE: LB) | Director; Audit Committee member | Since 2024 | Financial oversight as audit committee member |
| Solar Energy Industries Association (SEIA) | Director | Current | Industry advocacy and market development |
| Infinigen Renewables (Puerto Rico IPP) | Director | Current | Governance oversight of clean energy IPP |
Board Governance
- Committee assignments: Audit Committee member (Audit chair is Robert Julian; committee is fully independent) .
- Independence: Board affirmatively determined Daul is independent under Nasdaq standards; Audit and Compensation committees meet heightened independence standards .
- Attendance and engagement: In 2024, each director attended at least 75% of aggregate Board and committee meetings; the Board held 4 regular and 3 special meetings; Audit held 4 regular and 1 special; Daul serves on Audit .
- Board structure: Shoals is declassifying its Board; Daul is a Class I director nominated for a one-year term as part of phase-in to annual elections by 2027 .
- Risk oversight: Audit Committee oversees major financial and cybersecurity risks and reviews related-party transactions; Board receives quarterly cybersecurity briefings .
Fixed Compensation (Director)
| Component | 2024 Amount | Notes |
|---|---|---|
| Annual cash retainer | $75,000 | Standard non-employee director retainer; paid quarterly |
| Committee chair fees | $0 | Only committee chairs receive incremental cash ($25k Audit Chair; $15k Comp Chair; $15k N&CG Chair). Daul is not a chair |
| Meeting fees | Not disclosed | Policy provides retainers and RSUs; no meeting fees disclosed |
| Annual RSU grant | $180,003 (20,619 RSUs) | Granted May 2, 2024; vests 100% at 2025 Annual Meeting, subject to continued service |
| Chairman incremental RSU | N/A | Only Chair receives an additional ~$100,000 RSU award; not applicable to Daul |
| Director ownership guideline | 5x annual cash retainer | Covered individuals must retain 50% of net shares until guideline met |
Performance Compensation (Director)
| Equity Award Type | Performance Metrics | Vesting Schedule | Notes |
|---|---|---|---|
| RSUs (time-based) | None (not performance-conditioned) | Full vest at next annual meeting (2025) | Director equity is time-based per policy; not tied to TSR/financial metrics |
Other Directorships & Interlocks
| Company | Type | Connection to SHLS (supplier/customer/competitor) | Conflict/Interlock Consideration |
|---|---|---|---|
| LandBridge (NYSE: LB) | Land/resources for energy/datacenter | No disclosed commercial relationship with Shoals | Low risk; audit role enhances financial oversight credentials |
| SEIA | Industry association | Sector advocacy; not a direct transaction party | Typical industry role; no related-party transaction disclosed |
| Infinigen Renewables | Private IPP | No disclosed commercial relationship with Shoals | No conflict disclosed |
No related-party transactions involving Daul were disclosed; Audit Committee reviews and must approve any such transactions per company policy .
Expertise & Qualifications
- Energy and adjacent markets; M&A; financial expertise; corporate governance; compensation; risk mitigation/litigation; international; human capital management .
- CEO experience and cybersecurity/IT exposure (as reflected in Board skills matrix) .
- Proven transaction execution across 12+ GW of wind/solar/ BESS and $13B+ in total investment over career .
Equity Ownership
| Item | Value | Notes |
|---|---|---|
| Beneficial ownership (shares) | 57,535 | As of March 6, 2025 |
| Ownership % of outstanding | <1% | Total Class A outstanding 167,115,267 shares |
| Unvested director RSUs outstanding (FY-end) | 20,619 RSUs | Granted 5/2/2024; vests at 2025 annual meeting |
| Hedging/pledging | Prohibited by policy | Mitigates misalignment risk |
Governance Assessment
- Positives:
- Independence and Audit Committee service strengthen financial oversight; Board declassification and annual elections enhance accountability .
- Consistent attendance threshold met; Board/committee cadence indicates active engagement .
- Director pay structure is balanced (cash $75k + time-based RSUs ~$180k); ownership guidelines and anti-hedging/pledging policy support alignment .
- Watch items:
- External executive role at Primergy Solar (active developer/operator) presents potential industry overlap; no related-party transactions disclosed, but ongoing monitoring of vendor/customer interactions advisable .
- Director RSU grant value increased from ~$160k to ~$180k effective May 2, 2024—reasonable but monitor pay escalation versus performance and sector conditions .
- Signals:
- 2024 say-on-pay support at ~82% suggests broad investor acceptance of compensation frameworks; supports overall governance confidence backdrop (context for Board oversight) .
RED FLAGS: None disclosed specific to Daul (no related-party transactions, no hedging/pledging, no attendance shortfalls reported) .