Company: SUNE
Filing Date: 2025-04-30
Form Type: 10-K/A
Source: 0001213900-25-037633
Chunk: 13

Company: SUNation Energy, Inc.
Filing Date: 2025-04-30
Form: 10-K/A
Chunk 13
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|:---------------------------------|-----:|:--|
| 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 Merger, the Company’s shareholders approved the Pineapple Holdings, Inc. 2022 Equity Incentive Plan (the “2022 Equity Incentive Plan”), which became effective on March 28, 2022. On December 7, 2022, and again on July 19, 2024, the Company’s shareholders approved amendments to the 2022 Equity Incentive Plan that increased the number of shares of common stock authorized for issuance under the 2022 Equity Incentive Plan to 67 shares of common stock (10,000,000 prior to the reverse stock splits). During 2024, the Company effected two reverse stock splits and the shares available in the 2022 Equity Incentive Plan proportionally decreased as a result. As a result, there were no longer enough available shares to do meaningful awards to employees and the Company did not grant any equity awards to named executive officers in 2024. Other Compensation In addition to participating in Company-wide plans providing health, dental and life insurance on the same basis as all of our other employees, the NEOs receive other compensation and benefits in