Kristin A. Hlavka
About Kristin A. Hlavka
Kristin A. Hlavka is Chief Accounting Officer & Treasurer at SUNE, promoted on April 7, 2025 after serving as Corporate Controller since 2022 and briefly as Interim CFO in 2022 . She has approximately 20 years of accounting and finance experience, including prior roles as an auditor at Deloitte & Touche LLP and corporate controller positions at Communications Systems, Inc. (from 2011) and Pineapple Energy (named in 2022) . During her tenure as a named executive officer (2023–2024), SUNE’s pay-versus-performance disclosure shows cumulative TSR falling to $0 on a $100 initial investment by year-end 2024 and net losses of $(15.85) million in 2024, $(8.13) million in 2023, and $(10.36) million in 2022 . Age and formal education credentials were not disclosed in reviewed filings.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Communications Systems, Inc. | Corporate Controller | 2011–not disclosed | Finance leadership and controllership responsibilities |
| Pineapple Energy | Corporate Controller | 2022 | Corporate transition/integration experience |
| Deloitte & Touche LLP | Auditor | Not disclosed | Audit, assurance, and technical accounting foundation |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No public company directorships disclosed in reviewed filings |
Fixed Compensation
| Period | Role | Base Salary ($) | Notes |
|---|---|---|---|
| 2022 (post-merger) | Corporate Controller | 185,000 | Established subsequent to the Company’s 2022 merger |
| 2022 (Interim CFO) | Interim CFO | 225,000 | Increased for Interim CFO period; returned to $185,000 upon CFO appointment on Oct 10, 2022 |
| 2024 | Corporate Controller | 185,000 | “Remained the same through 2024” |
| April 7, 2025 | Chief Accounting Officer & Treasurer | 200,000 | Increased upon promotion |
Summary Compensation (Hlavka)
| Metric | 2023 | 2024 |
|---|---|---|
| Salary ($) | 185,000 | 188,588 |
| Bonus ($) | — | — |
| Stock Awards ($) | 93,160 | — |
| Non-Equity Incentive Plan ($) | 43,729 | — |
| All Other Compensation ($) | 6,452 | 6,925 |
| Total ($) | 328,341 | 195,483 |
Performance Compensation
| Award Type | Grant/Plan Year | Units/Shares | Grant Date Fair Value ($) | Performance Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|---|---|---|
| RSU | 2023 | Not disclosed | 93,160 | Not disclosed | — | — | — | — | Vests in thirds Nov 15, 2023/2024/2025 (plan footnote applies generally) |
| RSU (outstanding as of 12/31/24) | 2024 YE snapshot | 1 unit | Market value $526 as of 12/31/24 | Not disclosed | — | — | — | — | Vested in full on March 20, 2025 |
Notes:
- No option awards, option strike, or expiration details were disclosed for Hlavka in the reviewed filings .
- No specific performance metrics (e.g., revenue, EBITDA, TSR percentile) tied to Hlavka’s awards were disclosed in the reviewed filings .
Equity Ownership & Alignment
| Category | Detail |
|---|---|
| Total beneficial ownership | 2 shares; less than 1% of outstanding (3,406,614 shares outstanding as of Nov 12, 2025) |
| Vested vs unvested | As of 12/31/24: 1 RSU outstanding; that RSU vested on March 20, 2025 |
| Options (exercisable/unexercisable) | None disclosed |
| Pledged shares | Not disclosed in reviewed filings |
| Ownership guidelines | Not disclosed in reviewed filings |
Employment Terms
- Role and tenure: Corporate Controller since 2022; Interim CFO during part of 2022; promoted to Chief Accounting Officer & Treasurer on April 7, 2025 .
- Plan-level severance/termination (2022 Equity Incentive Plan):
- For cause: all unexercised options and all unvested awards forfeited .
- Death/disability: unvested RSUs vest; PSUs vest pro rata (actual for disability, target for death); vested options exercisable for one year .
- Other termination: unvested awards forfeited; vested options exercisable for three months (extendable to one year if participant dies during the three-month period) .
- Change-in-control economics (double-trigger acceleration): If awards are continued/assumed/replaced and involuntary termination without cause occurs within 24 months post-transaction, then options become fully vested/exercisable for one year and full-value awards fully vest; performance awards vest at target prorated if termination before end of performance period, or based on actual achievement if on/after end of the period .
- Definition of “cause” includes failure to perform, material violations, willful misconduct, and breaches of fiduciary/non-compete/non-solicitation obligations (among other factors) .
- Individual employment agreement severance multiples, clawback provisions, tax gross-ups, non-compete durations, and ownership guidelines were not specifically disclosed for Hlavka in reviewed filings .
Performance & Track Record (Company-level context)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Value of $100 investment (TSR) | $18.0 | $6.1 | $0.0 |
| Net Income (Loss) ($) | (10,362,662) | (8,132,167) | (15,849,805) |
Investment Implications
- Alignment and retention: Direct share ownership is de minimis (2 shares, <1%), suggesting limited personal capital at risk; retention relies more on salary and RSU vesting than on substantial ownership stakes .
- Near-term selling pressure: A material RSU previously outstanding vested in full on March 20, 2025; no additional individual vesting dates for Hlavka beyond plan-level schedules were disclosed, reducing visibility into upcoming supply from insider vesting/sales .
- Pay-for-performance signals: Hlavka received no cash bonus and no equity grants in 2024, with compensation skewed to fixed salary and modest “all other” benefits; 2023 included non-equity incentive cash ($43,729) and stock awards ($93,160), indicating variable pay was present but not persistent year over year .
- Change-of-control economics: Double-trigger acceleration under the 2022 Equity Incentive Plan increases potential value of unvested awards upon a qualifying termination, which can improve retention around strategic transactions but may create payout asymmetry unrelated to ongoing operating performance .
- Company backdrop: With cumulative TSR compressing to $0 on $100 by 2024 and continued net losses, pay-versus-performance optics are challenging; future variable pay structures may need tighter linkage to measurable operational milestones to reinforce alignment in investor eyes .