Nextpower adds two directors, Monica Karuturi and Mark Menezes, to 11-seat board
On June 17, 2025, Nextpower's board, which the filing calls Nextracker Inc., increased its size from nine to eleven and appointed Monica Karuturi and Mark Menezes as directors, both independent under Nasdaq rules. Each will receive an annual cash retainer and a $150,000 annual restricted stock unit grant, with pro-rated amounts through the 2025 annual meeting. The appointments add directors with legal and energy policy backgrounds but do not change executive officers.
Key points
- Board expanded from nine to eleven seats on June 17, 2025.
- Monica Karuturi, 46, is a Class III director and joins the Compensation Committee; her term expires at the 2025 annual meeting.
- Mark Menezes, 69, is a Class I director and joins the Nominating Committee; his term expires at the 2026 annual meeting.
- Annual cash retainers are $77,500 for Karuturi and $70,000 for Menezes, plus a $150,000 annual RSU grant for each.
The filing
Written by AI on Nov 8, 2026, 1:11 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 18, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.