Sunnova Proposes Executive Bonus Plan Worth Up to $7 Million

Bankrupt Sunnova Energy International Inc. is seeking court approval for up to $7 million in cash incentives for seven officers, contingent on generating sales above baseline expectations from existing deals.

The solar company argued that a cash-based employee incentive plan is necessary to motivate staff to maximize sale proceeds, according to a July 11 motion filed in the US Bankruptcy Court for the Southern District of Texas. The incentive would be “self-funded” from excess sales proceeds generated through the bankruptcy.

Payouts would go to the company’s CEO, chief financial officer, chief operating officer, general counsel, chief revenue officer, chief human ...