0001599947-15-000008.txt : 20150312 0001599947-15-000008.hdr.sgml : 20150312 20150312181246 ACCESSION NUMBER: 0001599947-15-000008 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: Truong Martin H. CENTRAL INDEX KEY: 0001575654 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-36542 FILM NUMBER: 15697100 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_142619835637777.xml FORM 4 X0306 4 2015-03-10 0 0001599947 TerraForm Power, Inc. TERP 0001575654 Truong Martin H. 7550 WISCONSIN AVENUE, 9TH FLOOR BETHESDA MD 20814 1 0 0 0 Common Stock 2015-03-10 4 A 0 16000 0 A 23500 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 Issuer, a controlled publicly traded subsidiary, which SunEdison, Inc. is the sponsor. Each of the performance tiers are based on 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