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SEC Filings
10-K
TERRAFORM POWER, INC. filed this Form 10-K on 07/21/2017
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However, pursuant to the August 30 Letter Agreement, TerraForm Global, Inc. will reimburse the Company for 50% of the cash compensation paid by the Company to Ms. Cranna.
(9)
Pursuant to the Engagement Letter, the Company compensates AlixPartners, LLC for its services and reimburses AlixPartners, LLC for its expenses, with an hourly rate of $950 as compensation for the performance of Mr. Studebaker as Chief Operating Officer and an hourly rate of $830 as compensation for the performance of Mr. Rawden as Interim Chief Accounting Officer. Represents amounts paid for their services to the Company and TerraForm Global, Inc. from the time of their appointment (July 2016) through the end of the fiscal year. During such period, Mr. Rawden accrued $616,897.50 in fees for services billed to the Company and Mr. Studebaker accrued $652,697.50 in fees for services billed to the Company.
(10)
Mr. Studebaker is a Managing Director in AlixPartners, LLPs' Turnaround & Restructuring practice. He was appointed Chief Operating Officer effective on July 7, 2016.
(11)
Mr. Rawden is a Director in AlixPartners’ Turnaround and Restructuring practice. He was appointed Interim Chief Accounting Officer effective on July 7, 2016.
(12)
In April 2016, the Company approved retention cash awards to select executives. The awards vest in equal installments on May 31, 2016, September 30, 2016 and March 31, 2017. Amounts represent the first two installments that vested and were paid out in 2016.
(13)
Mr. Wuebbels resigned as President and Chief Executive Officer and Director of the Company on March 30, 2016.
(14)
These amounts were awarded for fiscal 2016 under TerraForm Power, Inc.'s Bonus Plan.

Grants of Plan-Based Awards

The following table sets forth plan-based awards to the named executive officers during 2016.
 
 
 
 
Estimated Future Payouts Under
 
All Other Stock Awards: Number of Shares of Stock or Units (#)
 
All Other Option Awards: Number of Securities Underlying Options
(#)
 
Exercise or Base Price of Option Awards
($/Sh)
 
Grant Date Fair Value of Stock and Option Awards
($)
 
 
 
 
Non-equity Incentive Plan Awards ($)
 
 
 
 
Name
 
Grant Date
 
Threshold ($)
 
Target ($)
 
Maximum
($)
 
 
 
 
Peter Blackmore
 
7/25/2016
 
 
 
 
12,000

(1)

 

 
156,000

 
 
7/25/2016
 
 
 
 
44,400

(2)

 

 
165,168

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
321,168

Rebecca Cranna
 
 
 
290,830
(3)
581,660
(4)

 

 

 

 
 
11/18/2016
 
 
 
 
8,528

(1)

 

 
110,779

 
 
11/18/2016
 
 
 
 
29,847

(2)

 

 
113,419

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
224,198

Sebastian Deschler
 
 
 
181,679
(5)
363,358
(6)

 

 

 

 
 
11/18/2016
 
 
 
 
6,180

(1)

 

 
80,278

 
 
11/18/2016
 
 
 
 
21,628

(2) (7)

 

 
82,186

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
162,464

David Rawden
 
 
 
 
 

 

 

 

Thomas Studebaker
 
 
 
 
 

 

 

 

Brian Wuebbels
 
 
 
 
 

 

 

 

————
(1)
Represents grants made under the TerraForm Power, Inc. 2014 Long-Term Incentive Plan.
(2)
Represents grants made under the Terraform Global, Inc. 2014 Long-Term Incentive Plan.
(3)
Represents 60% of 2017 base salary and 12.5% additional discretionary bonus target as described above in "Letter Agreements Regarding Compensation and Severance." Pursuant to the terms of the August 30 Letter Agreement, TerraForm Global, Inc. will reimburse the Company for 50% of the cash compensation paid by the Company to Ms. Cranna.
(4)
Represents 120% of 2017 base salary and 25% additional discretionary bonus maximum as described above in "Letter Agreements Regarding Compensation and Severance." Pursuant to the terms of the August 30 Letter Agreement, TerraForm Global, Inc. will reimburse the Company for 50% of the cash compensation paid by the Company to Ms. Cranna.
(5)
Represents 50% of 2017 base salary and 12.5% additional discretionary bonus target as described above in "Letter Agreements Regarding Compensation and Severance."
(6)
Represents 100% of 2017 base salary and 25% additional discretionary bonus maximum as described above in "Letter Agreements Regarding Compensation and Severance."
(7)
Ms. Deschler, although not an officer of TerraForm Global, was granted such awards when he was an employee of SunEdison, in recognition of services he performed in support of TerraForm Global's initial public offering and operations prior to and after such initial public offering.



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