Daniel Shugar is the CEO of Nextracker Inc., a company he founded in 2013. He has a strong background in engineering, holding a bachelor’s degree in that field. Shugar started his career in the solar industry back in 1988 and...

Daniel Shugar is the CEO of Nextracker Inc., a company he founded in 2013. He has a strong background in engineering, holding a bachelor’s degree in that field. Shugar started his career in the solar industry back in 1988 and has held key positions at various solar companies. Before leading Nextracker, he was the CEO at Solaria Corporation and also worked with SunPower and PowerLight Corporation. Under his leadership, Nextracker has made significant strides in solar technology. In 2023, his total compensation was nearly $2 million, which includes a hefty performance-based bonus that reflects the company's growth. Shugar is also actively involved in the stock market, showcasing insider trading activity with values increasing from $1.35 million to $26.68 million within a few months. This indicates a level of confidence in Nextracker's performance. He is a seasoned leader who combines engineering expertise with business acumen, driving innovation and success in the solar industry.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Nextracker Inc. CEOs

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Daniel Shugar

Founder and CEO of Nextracker Inc.

Education

Bachelor's degree in Engineering

Field of Expertise

Technology & Engineering - Engineering

Sector of Economy

Energy

CEO of Nextracker Inc. for

1 year 11 months (Apr 2023 - Present)

Previous Experience

Former CEO of Nextracker LLC

Rivals

Competitors/colleagues of Daniel Shugar

A

Jim Fusaro

CEO of Array Technologies, Inc.

2023 Compensation

Stock

$1.77M

Salary

$850.00K

Bonus

$1.25M

Other

$13.20K

Total Holdings

$2.67M

Holdings

See how much did Daniel Shugar make over time.

Daniel Shugar has shown notable activity in managing his holdings in Nextracker. In 2023, the values of his trades saw steady growth, starting at $1.35 million in April and climbing to an impressive $26.68 million just one year later in...

Daniel Shugar has shown notable activity in managing his holdings in Nextracker. In 2023, the values of his trades saw steady growth, starting at $1.35 million in April and climbing to an impressive $26.68 million just one year later in June 2024. This trajectory illustrates Shugar's strong confidence in the direction and performance of Nextracker. His holdings give him substantial influence within the company, reflecting his commitment and optimism for their future. Shugar’s strategic trading demonstrates an awareness of market trends and a proactive approach to his investments, further aligning his interests with those of shareholders. Notably, these fluctuations capture investor attention and also show his engagement as a key player in the company’s financial landscape.

Charitable Transactions

NXT

59,456 shares

NXT

Recent Charitable Transactions

NXT

19,563 shares

NXT

Jul 10, 2024

Charity

NXT

39,893 shares

NXT

Apr 1, 2024

Charity

Insider Trading

See recent insider trades of Daniel Shugar.

NXT

19,563 shares

NXT

Jul 10, 2024

Charity

NXT

19,563 shares

NXT

Jul 10, 2024

Charity

NXT

348,628 shares

NXT

May 21, 2024

Received

NXT

39,893 shares

NXT

Apr 1, 2024

Charity

NXT

39,893 shares

NXT

Apr 1, 2024

Charity

NXT

7,314 shares

NXT

Jan 17, 2024

Received

NXT

5,257 shares

NXT

Jan 2, 2024

Received

NXT

6,334 shares

NXT

Jan 2, 2024

Received

NXT

$1.51M

NXT at $39.89/share

Dec 7, 2023

Purchase

Compensation History

See how much did Daniel Shugar make over time.

Daniel Shugar's compensation as CEO of Nextracker reflects a strong alignment with the company's performance. In 2023, his total pay was approximately $2.08 million. This included a base salary of $863,000 and a sizeable performance bonus of about $2.29 million, which is linked to the achievement of financial metrics like revenue and EBITDA. Additionally, long-term incentives such as stock options and restricted stock units add to his total compensation package, incentivizing him to drive the company’s growth. The board increased his target bonus potential to 135% of his salary, which shows their confidence in his leadership and the company's future. Overall, his compensation structure emphasizes a strong pay-for-performance philosophy, motivating Shugar to continue pushing for Nextracker's success.

Year

2023

Total Compensation

$10.96M

Salary

$863.00K

Board Justification

The compensation philosophy is designed to attract, retain, and motivate top-level talent while aligning executive pay with company performance and stockholder interests through a pay-for-performance culture.

Bonus

$2.29M

Board Justification

The bonus is based on the achievement of financial performance metrics including revenue, adjusted EBITDA, and adjusted free cash flow for FY24, with a maximum payout of 200% of the target bonus.

Other

$20.73K

Board Justification

Other compensation includes 401(k) matching contributions and long-term disability insurance premiums.

Restricted Stock

$7.78M(142.91K RSU)

Board Justification

The stock awards granted in FY24 vest annually over three years, with 30% vesting on June 21, 2024, 30% on June 21, 2025, and 40% on June 21, 2026, subject to continued service.

Performance Metrics

The performance metrics for determining the compensation include revenue, adjusted EBITDA, and adjusted free cash flow.

Other Nextracker Inc. CEOs

Here are other CEOs of Nextracker Inc.

David Bennett

Ex-CEO of Nextracker Inc.

January 2023 - March 2024