Companies Spruce Power Holding Corp
Spruce Power (XL): executive pay, fiscal 2025
Free brief. Every figure links to the company’s own filing.
Velarion Intel: free for 3 days, no card →Email me Spruce Power Holding Corp’s executive pay brief as a PDF
You get it on this page the moment you ask, and a copy by email. Every figure is cited to its filing.
After the PDF, up to three short notes on the deeper reports for this company. Reply “unsubscribe” to any of them, any time.
CEO pay, last three years
- $2,196,806FY2025
CEO total pay was $2,196,806 in fiscal 2025; the brief holds no earlier figure for this CEO.
FY2025: salary $650,000 · bonus $650,000 · stock awards $894,806 · option awards $0
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Christopher Hayes | $650,000 | $650,000 | $894,806 | $0 | $0 | $0 | $2,000 | $2,196,806 |
| President and CEO (6) | ||||||||
| Thomas Cimino | 514,332 | 21,875 | 310,800 | 0 | 0 | 0 | 538 | 847,545 |
| Chief Financial Officer | ||||||||
| Jonathan Norling | 315,000 | 118,125 | 382,630 | 0 | 0 | 0 | 0 | 815,755 |
| Chief Legal Officer | ||||||||
| Sarah Wells | 115,000 | 0 | 0 | 0 | 0 | 0 | 11,842 | 126,842 |
| Former Chief Financial Officer and Head of Sustainability (8) | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Christopher Hayes | $2,196,806 | — | — | — |
| Thomas Cimino | 847,545 | — | — | — |
| Jonathan Norling | 815,755 | — | — | — |
| Sarah Wells | 126,842 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Jonathan Norling | RSU | 15,625 | — | $79,531 |
| Jonathan Norling | RSU | 32,312 | — | 164,468 |
| Thomas Cimino | RSU | 60,000 | — | 310,800 |
| Christopher Hayes | RSU | 66,477 | — | 338,368 |
| Jonathan Norling | RSU | 89,265 | — | 454,359 |
| Christopher Hayes | Option | 221,422 | 3.74 | — |
| Jonathan Norling | RSU | 230,500 | — | 1,173,245 |
| Christopher Hayes | RSU | 539,040 | — | 2,743,714 |
Director compensation
No director compensation table is on file for fiscal year 2025.
Board fee structure and ownership guideline
| Annual cash retainer | $50,000 |
|---|---|
| Annual equity retainer | $150,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 10,000 |
| Stock ownership guideline | — |
Peer group, and who names Spruce Power as a peer
Companies that benchmark against XL
No companies currently name XL as a compensation peer in their most recent disclosure.
This is the complete answer, not a partial one — the list is never padded.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Spruce Power Holding Corp | 2025 | Christopher Hayes | $650,000 | $894,806 | $0 | $0 | $2,196,806 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-08-25 | 10,180,766 | 1,111,210 | 104,557 | 90.16% | Passed |
| 2021 | 2021-05-26 | — | — | — | — | — |
| 2020 | 2020-12-21 | — | — | — | — | — |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-08-25 | 90.16%a |
| 2021 | 2021-05-26 | —b |
| 2020 | 2020-12-21 | —c |
a. Approved under the standard stated in the filing — “Proposal 2: An Advisory, Non-binding Vote on the Compensation of Our Named Executive Officers -- The affirmative vote of the holders of a majority of the votes cast (excluding abstentions and broker non-votes).”.
b. Voting standard not stated in the filing.
c. Voting standard not stated in the filing.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (8 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Christopher Hayes. DEF 14A, filed 2026-06-23. Section “Executive Compensation” · page 30. As printed: 2,196,806. View filing ↗
- Section 01, Thomas Cimino. DEF 14A, filed 2026-06-23. Section “Executive Compensation” · page 30. As printed: 847,545. View filing ↗
- Section 01, Jonathan Norling. DEF 14A, filed 2026-06-23. Section “Executive Compensation” · page 30. As printed: 815,755. View filing ↗
- Section 01, Sarah Wells. DEF 14A, filed 2026-06-23. Section “Executive Compensation” · page 30. As printed: 126,842. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-08-26. Item 5.07 · say-on-pay result. As reported: 90.16% (votes for as printed: 10,180,766). View filing ↗
- Section 06, 2021 vote. Form 8-K, filed 2021-06-01. Item 5.07 · say-on-pay result. As reported: —. View filing ↗
- Section 06, 2020 vote. Form 8-K, filed 2020-12-23. Item 5.07 · say-on-pay result. As reported: —. View filing ↗
- Spruce Power Holding Corp (subject), Section 10b CEO total. DEF 14A, filed 2026-06-23. CEO total compensation as printed in Spruce Power Holding Corp's own proxy. As printed: 2,196,806. View filing ↗