Company: SUNE
Filing Date: 2025-04-30
Form Type: 10-K/A
Source: 0001213900-25-037633
Chunk: 10

Company: SUNation Energy, Inc.
Filing Date: 2025-04-30
Form: 10-K/A
Chunk 10
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 for Deloitte and Touche LLP. Delinquent Section 16(a) Reports Section 16(a) of the Exchange Act requires the Company’s officers and directors, and persons who beneficially own more than ten percent of a registered class of the Company’s equity securities, to file reports of ownership and changes in ownership on Forms 3, 4 and 5 with the SEC. SEC regulations require us to identify anyone who filed a required report late during the most recent fiscal year. Based solely on a review of such reports and written information given to us by our directors and executive officers, we believe that all such required reports were filed on a timely basis under Section 16(a) for the fiscal year ended December 31, 2024. ITEM 11. EXECUTIVE COMPENSATION Overview This section discusses our executive compensation objectives and policies, forms of compensation, and compensation related to services in 2024 paid to or earned by our named executive officers (the “NEOs”). The NEOs for 2024 were:

| ● | Scott Maskin, our Chief Executive Officer; |

| ● | Kyle Udseth, who served as Chief Executive Officer until May 2024; |

| ● | Andrew Childs, who served as Interim Chief Financial Officer until March 2025; |

| ● | Eric Ingvaldson, who served as Chief Financial Officer until August 2024; and |

| ● | James Brennan, our Chief Operating Officer and Chief Financial Officer effective March 2025. |

Compensation Objectives and Process The Compensation Committee has designed the Company’s executive compensation program with a strategy to facilitate its ability to attract, retain, reward and motivate a high performing executive team. The Company’s compensation philosophy is based on a motivational plan to provide pay-for-performance (at both the individual and company levels), to enable the Company’s executive team to achieve the Company’s objectives successfully. Our compensation programs are designed to:

| ● | attract and retain individuals with superior ability and managerial experience; |

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| ● | align executive officers’ incentives with our corporate strategies, business objectives and the long-term interests of our shareholders; 
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| ● | increase the incentive to achieve key strategic performance measures by linking incentive award opportunities to the achievement of     
 performance objectives and by providing a portion of total compensation for executive officers in the form of ownership in the Company. |

The Compensation Committee is primarily responsible for establishing and approving the compensation for all of our executive officers. The Compensation Committee oversees our compensation and