Spring Hollis
About Spring Hollis
Spring Hollis, age 52, is an independent director of SUNation Energy and the CEO/founder of Star Strong Capital (since 2019). She previously served as a Managing Director at Deutsche Bank (2000–2010) focused on principal investments in structured credit and esoteric assets; prior experience includes Park Cities Asset Management as a specialty finance portfolio manager and Briargate Capital as a founding partner focused on distressed private debt. She holds a J.D. from New York University and a B.A. in philosophy from the University of Wisconsin–Madison, and is currently chair of the Compensation Committee, chair of the Nominating and Corporate Governance Committee, and a member of the Audit and Finance Committee; the Board has determined she is independent under SEC and Nasdaq standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Deutsche Bank | Managing Director | 2000–2010 | Principal investments in structured credit and esoteric assets |
| Park Cities Asset Management | Specialty Finance Portfolio Manager | Not disclosed | Specialty finance portfolio management |
| Briargate Capital | Founding Partner | Not disclosed | Focus on distressed issuers of privately held debt |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Star Strong Capital | CEO & Founder | Since 2019 | Provides flexible capital solutions to lower middle market businesses |
| BOMA Project (non-profit) | Director | Not disclosed | International non-profit focused on economic empowerment of women in sub-Saharan Africa |
Board Governance
- Board held 21 formal meetings in 2024; independent directors regularly held executive sessions .
- Each director then in office attended at least 75% of Board and committee meetings in 2024 .
- Board leadership: Chairman is Roger H.D. Lacey; the Chair role is non-executive and separate from the CEO .
- Director independence: all directors except Mr. Maskin are independent; Messrs. Udseth and Lacey were not deemed independent during 2024 .
| Committee | Role | 2024 Meetings | Independence Status |
|---|---|---|---|
| Compensation Committee | Chair (Spring Hollis) | 4 | Committee members independent |
| Nominating & Corporate Governance Committee | Chair (Spring Hollis) | 1 | Committee members independent |
| Audit & Finance Committee | Member (Spring Hollis); Chair (Kevin O’Connor) | 4 | Committee members independent; members meet financial literacy requirements |
Fixed Compensation
| Component | Structure/Amount (2024) |
|---|---|
| Non-employee director cash retainer | $30,000 annually, paid quarterly |
| Committee chair cash retainer | $7,500 additional per chair role |
| Committee membership cash retainer | $5,000 additional per committee (excluding the chair) |
| Chair of the Board cash retainer | $15,000 additional |
| Equity awards to directors in 2024 | None (insufficient plan shares after two reverse stock splits) |
| Director | Fees Earned or Paid in Cash ($) | Stock Awards ($) | All Other Compensation ($) | Non-Equity Incentive ($) | Total ($) |
|---|---|---|---|---|---|
| Spring Hollis | 11,875 | — | — | — | 11,875 |
During 2024, the Company effected two reverse stock splits, reducing available shares under the 2022 Equity Incentive Plan; consequently, no director equity awards were granted in 2024 .
Performance Compensation
| Component | Metric | Target | Outcome |
|---|---|---|---|
| Equity awards (RSUs/PSUs) for directors | Not applicable for 2024 | Not applicable | No director equity awards granted in 2024 due to insufficient plan shares following reverse splits; the RSU grant initially intended for 2023 was delayed into early 2024, but none were made to directors in 2024 |
Other Directorships & Interlocks
| Category | Entity | Role | Notes |
|---|---|---|---|
| Public company boards | None disclosed | — | No other public company directorships disclosed for Hollis |
| Non-profit boards | BOMA Project | Director | International nonprofit; governance/mission area noted |
| Private companies | Star Strong Capital | CEO & Founder | Specialty finance; independent from SUNE |
| Interlocks with competitors/suppliers/customers | None disclosed | — | No related-party board interlocks disclosed |
Expertise & Qualifications
- Finance and investment expertise: Managing Director at Deutsche Bank (structured credit/esoteric assets) and roles in specialty finance/distressed debt .
- Education: J.D. (NYU); B.A. in philosophy (University of Wisconsin–Madison) .
- Committee leadership and governance: Chairs Compensation and Nominating & Corporate Governance; member of Audit & Finance; meets financial literacy requirements for audit committee membership .
Equity Ownership
| Date (Record/Reference) | Shares Beneficially Owned | Ownership % |
|---|---|---|
| As of Feb 27, 2025 (voting stock context) | 2,610 | <1% (asterisk as disclosed) |
| As of Nov 12, 2025 | 14 | <1% (asterisk as disclosed) |
No disclosure of vested vs. unvested breakdown, options, or pledged shares; beneficial ownership tables reflect less than one percent holdings .
Governance Assessment
- Committee leadership and engagement: Hollis chairs two key committees (Compensation; Nominating & Corporate Governance) and serves on Audit & Finance; these committees met multiple times in 2024, indicating active oversight .
- Independence and attendance: Board determined Hollis is independent; each director met at least 75% attendance in 2024; independent directors hold executive sessions .
- Compensation alignment: Director pay in 2024 was cash-only due to reverse splits constraining plan capacity; no equity grants to directors were made, potentially reducing equity-based alignment in that year relative to typical mixed cash/equity structures .
- Ownership: Hollis’ beneficial ownership is minimal (<1%), declining from 2,610 shares to 14 shares between early 2025 and November 2025 consistent with reverse split effects; no pledging or hedging disclosures identified .
- Conflicts and related parties: Company governance guidelines require prompt disclosure of conflicts and Audit & Finance Committee approval for any director/officer transactions; no related-party transactions involving Hollis were disclosed .