Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Resignation of Director
On June 2, 2021, Mr. Daniel Dus resigned from his position as a Member of the
Board of Directors (the "Board") of iSun, Inc. (the "Company").
Election of New Director
On June 2, 2021, the Board of the Company appointed Mr. Andrew Matthy as a
member of the Board, effective June 2, 2021. The Board determined that Ms.
Matthy qualifies as "independent" in accordance with the published listing
requirements of Nasdaq. Mr. Matthy has been appointed to the Company's
Compensation Committee and Audit Committee, and will serve as chair of the
Company's Nominating/Corporate Governance Committee.
Mr. Matthy has 17 years of experience in executive search covering renewable
energy, decarbonization of corporates, transportation of electrification, and
digital solutions. Currently, he is a Partner at Cipactil Partners and Enertech
Search, where he is disrupting the executive search model and scaling platforms
within private equity and venture capital-backed portfolios of companies.
Previously, Mr. Matthy spent six years with Hobbs & Towne, working with
high-profile clients - such as Brookfield Renewables and EDF Renewables, along
with startups such as Chargepoint and Edison Energy - focusing on the
intersection of energy and technology. His earlier career included eight years
of recruiting with Ajilon Finance and as an independent consultant, focusing on
staffing for corporate accounting.
Mr. Matthy will receive the standard compensation amounts payable to
non-employee directors of the Board. Pursuant to these arrangements, commencing
in June 2021, Mr. Matthy will be paid (i) an annual retainer in the amount of
$36,000 for Board membership, inclusive of all Board meetings and committee
meetings; (ii) an annual retainer in the amount of $5,000 for service as chair
of the Nominating and Corporate Governance Committee; and (iii) a one-time grant
of three thousand restricted shares of iSun Common Stock to vest proportionally
over his term.
Item 9.01. Financial Statement and Exhibits.
(d) Exhibits
Number Description
99.1 Press Release dated June 2, 2021 regarding the appointment of Andrew
Matthy to the Board
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