Company: SUNE
Filing Date: 2025-11-12
Form Type: PRE 14A
Source: 0001140361-25-041549
Chunk: 18

Company: SUNation Energy, Inc.
Filing Date: 2025-11-12
Form: PRE 14A
Chunk 18
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,000, and Mr. Maskin is eligible for the potential bonus in 2025 of up to fifty percent of his Base Salary, the latter of which is discretionary based on goals established by the Company’s Board and may be changed from time to time. Annual Cash Incentive Program In March 2024, the Compensation Committee approved performance metrics for the 2024 annual cash incentive program for the Company’s employees, including executive officers (the “2024 MIP”). Participants have the ability to earn between 50% of target for achieving threshold performance and 150% of target for achieving maximum performance for these metrics. The following table presents the following for the 2024 MIP: (i) the performance measures for the plan; (ii) the relative weight assigned to each of the performance measures in determining overall performance against the plan; (iii) target achievement levels for each performance measure selected; and (iv) actual 2024 achievement as a percentage of the target goal.

| Performance Measure          |     | %      
 Weight |     | Annual Target 
          Goal |     | % of Target 
 Performance 
 Achieved    |
| Consolidated Adjusted EBITDA |     | 30%    |     |    $3,661,508 |     | -134%       |
| Gross Profit                 |     | 30%    |     |   $27,692,331 |     | 74%         |
| Fundraising                  |     | 20%    |     |   $25,000,000 |     | 10%         |
| Business Acquisitions        |     | 20%    |     |             2 |     | 0%          |

The Compensation Committee did not exercise any discretion to increase or decrease the amounts payable pursuant to the 2024 MIP as calculated pursuant to the terms as described above. The 2024 MIP was not earned for any of the performance measures as all achievements were below the minimum threshold. As a result, based on the results as applied to the 2024 MIP as described above, the 2024 MIP was not earned. Equity Awards A key component of an executive officer’s compensation is equity incentive awards, which are critical to focusing our executives on the Company’s long-term growth and creating shareholder value. In connection with the Company’s 2022 merger, the Company’s shareholders approved the Pineapple Holdings, Inc. 2022 Equity Incentive Plan (the “2022 Equity Incentive Plan