0001599947-15-000010.txt : 20150312
0001599947-15-000010.hdr.sgml : 20150312
20150312181418
ACCESSION NUMBER: 0001599947-15-000010
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20150310
FILED AS OF DATE: 20150312
DATE AS OF CHANGE: 20150312
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: TerraForm Power, Inc.
CENTRAL INDEX KEY: 0001599947
STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911]
IRS NUMBER: 464780940
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 7550 WISCONSIN AVENUE, 9TH FLOOR
CITY: BETHESDA
STATE: MD
ZIP: 20814
BUSINESS PHONE: (240) 762-7700
MAIL ADDRESS:
STREET 1: 7550 WISCONSIN AVENUE, 9TH FLOOR
CITY: BETHESDA
STATE: MD
ZIP: 20814
FORMER COMPANY:
FORMER CONFORMED NAME: SUNEDISON YIELDCO, INC.
DATE OF NAME CHANGE: 20140212
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Wuebbels Brian
CENTRAL INDEX KEY: 0001550288
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-36542
FILM NUMBER: 15697105
MAIL ADDRESS:
STREET 1: C/O MEMC ELECTRONIC MATERIALS, INC.
STREET 2: 501 PEARL DRIVE
CITY: ST. PETERS
STATE: MO
ZIP: 63376
4
1
wf-form4_142619844856171.xml
FORM 4
X0306
4
2015-03-10
0
0001599947
TerraForm Power, Inc.
TERP
0001550288
Wuebbels Brian
7550 WISCONSIN AVENUE, 9TH FLOOR
BETHESDA
MD
20814
1
0
0
0
Common Stock
2015-03-10
4
A
0
40000
0
A
45000
D
Each restricted stock unit represents a contingent right to receive one share of Issuer's common stock. The restricted stock units were awarded on March 10, 2015 under the 2014 TerraForm Power, Inc. Long-Term Incentive Plan in a transaction exempt under Rule 16b-3.
These RSU awards are 80% performance based and 20% time based, which are vested at 25 percent per year over a four year period. For the performance based RSUs, there are three performance tiers, each tier represents 33 percent of the entire grant. The performance tiers are measured on the dividend per share ("DPS") of the Issuer, a controlled publicly traded subsidiary, which SunEdison, Inc. is the sponsor. Each of the performance tiers are based on the Issuer's DPS targets, as pre-determined and approved by the Issuer's Compensation Committee. If certain performance goals are not achieved, the first, second and third performance tiers are forfeited in its entirety. If certain performance goals are met by the first quarter of 2016, 2017 and 2018, as measured by the last twelve months, the first, second and third tier will vest at 50%, 75% or 100%.
/s/ Martin Truong
2015-03-12