Nextpower Inc. filed a Form 8-K on October 28, 2026, reporting the appointment of Sarah Slusser and Michael Alvarez as new directors following a Board expansion from ten to twelve members, and separately announcing second fiscal quarter financial results.

Key Highlights

  • Board expanded: The Board of Directors increased its size from ten to twelve members, according to the filing.
  • Sarah Slusser appointed: Slusser, 64, will serve as a Class II director effective November 1, 2026, with her term expiring at the 2027 annual meeting of stockholders.
  • Michael Alvarez appointed: Alvarez, 70, will serve as a Class III director effective December 1, 2027, with his term expiring at the 2028 annual meeting of stockholders.
  • Slusser's prior role: She served as Chief Executive Officer of Cypress Creek Renewables from June 2019 through March 2026.
  • Alvarez's current role: He is Co-Founder and Chief Risk Officer of Longroad Energy Holdings, LLC, a position he has held since June 2026.
  • Both deemed independent: The Board determined that both Slusser and Alvarez qualify as independent directors in accordance with Nasdaq listing rules.
  • Quarterly results announced: A press release announcing results for the second fiscal quarter ended October 2, 2026, was attached as Exhibit 99.1 to the filing.

Nextpower Discloses Board Appointments and Director Backgrounds

According to the Form 8-K filed with the SEC on October 28, 2026, Nextpower Inc. (NASDAQ:NXT) disclosed that its Board of Directors voted on October 26, 2026, to increase the Board's size from ten to twelve seats and to fill those seats with Sarah Slusser and Michael Alvarez. The action was reported under Item 5.02 of the current report.

The filing describes Slusser's background as including 21 years of positions at The AES Corporation, where she ultimately served as Senior Vice President, Global M&A, followed by co-founding GeoGlobal Energy LLC and founding Point Reyes Energy Partners, LLC. She currently serves as an independent director on the board of Prologis, Inc. since May 2025. Slusser earned her B.A. from Harvard University and her M.B.A. from Yale School of Management. She will be compensated under Nextpower's non-employee director compensation program as described in the company's proxy statement filed with the SEC on July 7, 2026.

For Alvarez, the filing notes he co-founded Longroad Energy Holdings, LLC and served as its Chief Operating Officer from April 2016 to July 2026 before transitioning to Chief Risk Officer in June 2026. Prior to Longroad, he served as President and CFO of First Wind Holdings, LLC from 2006 to 2016. He earned his B.A. in Economics and his J.D. from the University of Virginia. Like Slusser, Alvarez will be compensated per Nextpower's non-employee director compensation program, and Nextpower entered into its standard director indemnification agreement with him. The filing states there are no related person transactions for either appointee required to be reported under Item 404(a) of Regulation S-K.

What Was Disclosed

Nextpower Inc. disclosed the expansion of its Board from ten to twelve directors and the appointments of Sarah Slusser and Michael Alvarez on October 26, 2026. The company also filed a press release covering second fiscal quarter results ended October 2, 2026, attached as Exhibit 99.1.