Shoals Technologies Group Inc

Director Appointment

On February 27, 2024, the Board appointed Brandon Moss, the Company’s Chief Executive Officer, as a member of the Board based on Mr. Moss’s skills, qualifications and contributions to the Company and the Board since he began serving as Chief Executive Officer. Mr. Moss will serve as a Class III director until the Company’s Annual Meeting of Stockholders to be held in 2024, and until such time as his successor is duly elected and qualified, or until his earlier death, resignation or removal. In connection with Mr. Moss’s appointment the Board increased the number of directors on the Board from seven to eight.

The Company is not aware of any related party transactions or relationships between Mr. Moss and the Company that would require disclosure under Item 404(a) of Regulation S-K. Mr. Moss was not appointed as a director based on any arrangement or understanding between Mr. Moss and any other persons.

CAO Appointment

On February 27, 2024, the Company appointed Inez Lund as its Chief Accounting Officer, effective March 1, 2024. In this position, Ms. Lund will assume the role of the Company’s principal accounting officer from Dominic Bardos, who will continue to serve as the Company’s Chief Financial Officer.

Ms. Lund, age 58, has most recently served as the Company’s Controller since December 2021, and initially joined the Company in May 2021 as Tax Director. Before joining the Company, Ms. Lund was Senior Manager, Global Compliance and Reporting at Ernst & Young LLP between December 2019 and May 2021. From September 2014 to December 2019, Ms. Lund held several positions with American International Group, Inc., including Associate Director of Tax and Manager, AIG Global Investments Tax Group. Ms. Lund earned a Master’s degree in Professional Accountancy and a Bachelor’s degree in Accounting from University of Nebraska, Lincoln.

In connection with Ms. Lund’s appointment as Chief Accounting Officer of the Company, the Board has approved the following compensation for Ms. Lund, effective as of March 1, 2024: (i) an annual base salary of $300,000; (ii) an annual bonus with a target opportunity equal to 50% of base salary; and (iii) an equity award with respect to fiscal year 2024, with a target value equal to $205,000. The foregoing equity award will be granted in the form approved by the Compensation Committee of the Board under, and subject to, the terms and conditions of the Shoals Technologies Group, Inc. 2021 Long-Term Incentive Plan, and will vest in accordance with the applicable award agreements. Ms. Lund will also be entitled to participate in the Shoals Technologies Group, Inc. Executive Severance Plan.

Ms. Lund does not have any family relationships with any director, executive officer or person nominated or chosen by the Company to become a director or executive officer of the Company. The Company is not aware of any related transactions or relationships between Ms. Lund and the Company that would require disclosure under Item 404(a) of Regulation S-K. There are no arrangements or understandings between Ms. Lund and any other person pursuant to which Ms. Lund was selected as an officer of the Company.