Polaris Renewable Energy Management

Management criteria checks 4/4

Polaris Renewable Energy's CEO is Marc Murnaghan, appointed in May 2015, has a tenure of 9.08 years. total yearly compensation is $525.90K, comprised of 75.5% salary and 24.5% bonuses, including company stock and options. directly owns 2.32% of the company’s shares, worth €4.42M. The average tenure of the management team and the board of directors is 4.5 years and 7 years respectively.

Key information

Marc Murnaghan

Chief executive officer

US$525.9k

Total compensation

CEO salary percentage	75.5%
CEO tenure	9.1yrs
CEO ownership	2.3%
Management average tenure	4.5yrs
Board average tenure	7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Marc Murnaghan's remuneration changed compared to Polaris Renewable Energy's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$11m
Dec 31 2023	US$526k	US$397k	US$12m
Sep 30 2023	n/a	n/a	US$13m
Jun 30 2023	n/a	n/a	US$11m
Mar 31 2023	n/a	n/a	US$5m
Dec 31 2022	US$656k	US$404k	US$2m
Sep 30 2022	n/a	n/a	-US$1m
Jun 30 2022	n/a	n/a	US$2m
Mar 31 2022	n/a	n/a	US$4m
Dec 31 2021	US$563k	US$394k	US$501k
Sep 30 2021	n/a	n/a	US$26m
Jun 30 2021	n/a	n/a	US$25m
Mar 31 2021	n/a	n/a	US$24m
Dec 31 2020	US$480k	US$314k	US$29m
Sep 30 2020	n/a	n/a	US$20m
Jun 30 2020	n/a	n/a	US$21m
Mar 31 2020	n/a	n/a	US$15m
Dec 31 2019	US$445k	US$273k	US$14m
Sep 30 2019	n/a	n/a	US$8m
Jun 30 2019	n/a	n/a	US$9m
Mar 31 2019	n/a	n/a	US$20m
Dec 31 2018	US$364k	US$166k	US$17m
Sep 30 2018	n/a	n/a	US$9m
Jun 30 2018	n/a	n/a	US$6m
Mar 31 2018	n/a	n/a	US$3m
Dec 31 2017	US$748k	US$196k	US$2m

Compensation vs Market: Marc's total compensation ($USD525.90K) is below average for companies of similar size in the German market ($USD758.96K).

Compensation vs Earnings: Marc's compensation has been consistent with company performance over the past year.

CEO

Marc Murnaghan (52 yo)

9.1yrs

Tenure

US$525,903

Compensation

Mr. Marc Murnaghan has been the Chief Executive Officer of Polaris Renewable Energy Inc. (formerly known as Polaris Infrastructure Inc.) since May 13, 2015. Mr. Murnaghan was a Partner of Harrington Global...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Marc Murnaghan	CEO & Director	9.1yrs	US$525.90k	2.32% $ 4.4m
Anthony Jelic	Chief Financial Officer	5.5yrs	US$283.85k	0.011% $ 20.8k
Alexis Osorno	Senior Vice President of Latin America	no data	US$214.09k	no data
Alba Seisdedos	Vice President of Taxation & Legal Affairs	less than a year	no data	no data
Guzman Fernandez	Vice President of Corporate Development	5.3yrs	no data	no data
Michael Kosianic	Executive Vice President of Project Finance	3.8yrs	no data	no data
Denise Parada	Vice President of Sustainability & Transformation	less than a year	no data	no data

4.5yrs

Average Tenure

Experienced Management: N4T's management team is considered experienced (4.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Marc Murnaghan	CEO & Director	9.1yrs	US$525.90k	2.32% $ 4.4m
Jaime Guillen	Independent Chairman of the Board	9.1yrs	US$70.00k	0.049% $ 92.4k
James Lawless	Independent Director	13.3yrs	US$45.00k	0.0085% $ 16.1k
Marcela de Vasquez	Independent Director	5yrs	US$47.50k	no data
Adarsh Mehta	Independent Director	less than a year	US$22.50k	0.53% $ 1.0m
Catherine Fagnan	Independent Director	less than a year	US$22.50k	no data

7.0yrs

Average Tenure

56.5yo

Average Age

Experienced Board: N4T's board of directors are considered experienced (7 years average tenure).

Polaris Renewable Energy Management

Management criteria checks 4/4

Key information

Recent management updates

Polaris Renewable Energy Inc., Annual General Meeting, Jun 20, 2024

Independent Director recently bought €57k worth of stock

Polaris Renewable Energy Inc. Announces Director Elections

Insufficient new directors

Insufficient new directors

Insufficient new directors

Recent updates

New major risk - Revenue and earnings growth

First quarter dividend of US$0.15 announced

First quarter 2024 earnings released: EPS: US$0.21 (vs US$0.22 in 1Q 2023)

Polaris Renewable Energy Inc. Declares Quarterly Dividend, Payable on May 24, 2024

Polaris Renewable Energy Inc., Annual General Meeting, Jun 20, 2024

Polaris Renewable Energy Inc. to Report Q1, 2024 Results on May 02, 2024

Independent Director recently bought €57k worth of stock

New major risk - Revenue and earnings growth

Full year 2023 earnings released: EPS: US$0.56 (vs US$0.12 in FY 2022)

Third quarter dividend of US$0.15 announced

Polaris Renewable Energy Declares Quarterly Dividend, Payable on February 23, 2024

Polaris Renewable Energy Inc. to Report Q4, 2023 Results on Feb 22, 2024

New major risk - Revenue and earnings growth

Polaris Renewable Energy Inc. Declares Dividend, Payable on November 24, 2023

Third quarter 2023 earnings released: EPS: US$0.05 (vs US$0.074 loss in 3Q 2022)

Polaris Renewable Energy Declares Quarterly Dividend, Payable on August 25, 2023

Second quarter 2023 earnings released: EPS: US$0.22 (vs US$0.079 loss in 2Q 2022)

Polaris Renewable Energy Inc. to Report Q2, 2023 Results on Aug 03, 2023

Polaris Renewable Energy Inc. Announces Director Elections

Polaris Renewable Energy Inc. Declares Quarterly Dividend, Payable on May 26, 2023

First quarter 2023 earnings released: EPS: US$0.22 (vs US$0.13 in 1Q 2022)

Full year 2022 earnings released: EPS: US$0.12 (vs US$0.027 in FY 2021)

Polaris Renewable Energy Inc. Declares Quarterly Dividend, Payable on February 24, 2023

Polaris Renewable Energy Inc. Completes Construction, Testing and Initial Operation of A 10.4 Mw (Net) Geothermal Binary Power Plant at the San Jacinto Geothermal Project in Telica, Leon, Republic of Nicaragua

Polaris Renewable Energy Inc. Completes Construction, Testing and Initial Operation of A 10.4 Mw (Net) Geothermal Binary Power Plant at the San Jacinto Geothermal Project in Telica, Leon, Republic of Nicaragua

Insufficient new directors

Third quarter 2022 earnings released: US$0.07 loss per share (vs US$0.11 profit in 3Q 2021)

Polaris Renewable Energy Inc Declares Quarterly Dividend, Payable on November 25, 2022

Polaris Renewable Energy Inc. (TSX:PIF) completed the acquisition of 83.16% in Hidroelectrica San Jose de Minas S.A for $16.3 million.

Second quarter 2022 earnings released: US$0.08 loss per share (vs US$0.008 profit in 2Q 2021)

Polaris Renewable Energy Inc. Declares Quarterly Dividend, Payable on August 26, 2022

Insufficient new directors

Insufficient new directors

Polaris Infrastructure Inc. (TSX:PIF) completed the acquisition of Emerald Solar Energy SRL for $20.3 million.

Polaris Infrastructure Inc. Announces Quarterly Dividend, Payable on May 27, 2022

First quarter 2022 earnings released: EPS: US$0.13 (vs US$0.054 loss in 1Q 2021)

Polaris Infrastructure Inc. (TSX:PIF) agreed to acquire Emerald Solar Energy SRL for $18.4 million.

Polaris Infrastructure Inc., Annual General Meeting, Jun 23, 2022

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

Polaris Infrastructure Inc. Declares Quarterly Dividend, Payable on February 25, 2022

Third quarter 2021 earnings released: EPS US$0.11 (vs US$0.084 in 3Q 2020)

Second quarter 2021 earnings released: EPS US$0.008 (vs US$0.065 loss in 2Q 2020)

An unknown buyer acquired Meager Creek Development Corporation from Polaris Infrastructure Inc. (TSX:PIF) for CAD 0.4 million.

First quarter 2021 earnings released: US$0.05 loss per share (vs US$0.28 profit in 1Q 2020)

Polaris Infrastructure Inc. to Pay Quarterly Dividend, Payable on May 28, 2021

Full year 2020 earnings released: EPS US$1.84 (vs US$0.92 in FY 2019)

Revenue misses expectations

Polaris Infrastructure Inc. has completed a Follow-on Equity Offering in the amount of CAD 45.01575 million.

Upcoming Dividend of US$0.15 Per Share

Investor sentiment improved over the past week

New 90-day high: €15.30

Polaris Infrastructure Inc. has completed a Follow-on Equity Offering in the amount of CAD 45.01575 million.

New 90-day high: €13.00

Polaris Infrastructure Inc. Extends Memorandum of Understanding for 10 MW Run-Of-River Hydro Project in Panama

New 90-day high: €12.20

Polaris Infrastructure Inc. Approves Revised Terms to Its Power Purchase Agreement

Market bids up stock over the past week

New 90-day high: €9.45

Third quarter 2020 earnings released: EPS US$0.08

Revenue misses expectations

New 90-day low: €8.10

New 90-day low: €8.35

New 90-day low - €8.55

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure