Daniel de Boer - Apr 1, 2025 Form 3 Insider Report for Greenbacker Renewable Energy Co LLC (N/A)

Role
Interim Chief Executive Officer, Managing Director and Head of Infrastructure.
Signature
/s/ Daniel De Boer
Stock symbol
N/A
Transactions as of
Apr 1, 2025
Transactions value $
$0
Form type
3
Date filed
4/2/2025, 01:05 PM
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding N/A Class EO Common Shares 56.8K Apr 1, 2025 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding N/A Restricted Share Units (Time) Apr 1, 2025 Class P-I Common Shares 60.9K Direct F2, F3, F4
holding N/A Restricted Share Units (Performance) Apr 1, 2025 Class P-I Common Shares 122K Direct F2, F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects shares of Class EO Common Shares ("Earnout Shares") issued to the Reporting Person on February 27, 2024 in his capacity as an employee of Greenbacker Renewable Energy Company LLC (the "Company"). The Earnout Shares initially do not have the right to participate in any distributions payable by Greenbacker Renewable Energy Company LLC (the "Company"). Upon the achievement of separate bench-mark quarter-end-run-rate revenue targets, or upon the occurrence of certain liquidity events, however, these Earnout Shares can become "Participating Earnout Shares" and become entitled to priority allocation of profits and increases in value from the Company and will have equivalent economic and voting rights as Class P-I Common Shares, as further described in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 23, 2022.
F2 The Company granted these restricted share units to the Reporting Person pursuant to the Company's 2023 Equity Incentive Plan.
F3 Each restricted share unit represents a contingent right to receive an amount equal to one Class P-I Common Share in (w) cash, (x) common shares (y) other securities or other property, as applicable, or (z) any combination thereof, as determined by the Company.
F4 The restricted share units vest in three equal annual installments on each anniversary of July 1, 2024. Vested restricted share units will be settled as soon as reasonably practicable following such vesting.
F5 The restricted share units vest on the satisfaction of certain performance criteria during the performance period beginning on July 1, 2024, and ending on July 1, 2027, with a vesting date of July 1, 2028. Vested restricted share units will be settled as soon as reasonably practicable following such vesting.

Remarks:

Interim Chief Executive Officer, Managing Director and Head of Infrastructure.