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Vulcan Infrastructure (GREE) awards 210,000 RSUs to leadership after $39.4M deal

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Vulcan Infrastructure and Power Inc. approved one-time equity awards for three senior executives in connection with their work on the company’s strategic transformation and its entry into definitive agreements for an aggregate strategic investment of approximately $39.4 million.

On July 20, 2026, the Compensation Committee granted 125,000 RSUs to CEO Jordan Kovler, 50,000 RSUs to President Dale Irwin, and 35,000 RSUs to CFO Christian Mulvihill under the Third Amended and Restated 2021 Equity Incentive Plan. Each RSU represents one share of Class A common stock and vested on July 23, 2026.

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
CEO RSU award 125,000 RSUs One-time equity award to CEO Jordan Kovler granted July 20, 2026
President RSU award 50,000 RSUs One-time equity award to President Dale Irwin granted July 20, 2026
CFO RSU award 35,000 RSUs One-time equity award to CFO Christian Mulvihill granted July 20, 2026
Strategic investment amount approximately $39.4 million Aggregate strategic investment referenced in connection with the awards
RSU vesting date July 23, 2026 Date on which all granted RSUs vested
restricted stock units financial
"The awards were granted ... and consisted of 125,000 restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
strategic transformation financial
"in recognition of their contributions to the Company’s strategic transformation"
A strategic transformation is a planned, company-wide change in how a business operates, competes, or makes money—such as shifting products, reorganizing teams, adopting new technology, or entering new markets. For investors it matters because these shifts aim to improve long-term growth or profitability but carry risks and costs up front; think of it like remodeling a house to increase its value—potentially higher returns, but with disruption and uncertainty during the work.
definitive agreements regulatory
"including the Company's entry into definitive agreements relating to the aggregate strategic investment"
Definitive agreements are the final, legally binding contracts that set the exact terms of a corporate deal—such as a merger, acquisition, asset sale, or major financing. They matter to investors because signing them turns rough plans into concrete obligations that determine price, timing, required approvals and what happens if the deal falls through; think of them as the signed purchase contract in a house sale that makes the deal official and enforceable.
Equity Incentive Plan financial
"The RSUs were granted pursuant to the Company’s Third Amended and Restated 2021 Equity Incentive Plan"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What executive equity awards did Vulcan Infrastructure and Power (GREE) approve?
Vulcan Infrastructure and Power approved one-time restricted stock unit (RSU) awards for its CEO, President, and CFO, totaling 210,000 RSUs. These awards recognize their contributions to the company’s strategic transformation and related strategic investment transactions.

How many RSUs did each GREE executive receive in the July 2026 awards?
CEO Jordan Kovler received 125,000 RSUs, President Dale Irwin received 50,000 RSUs, and CFO Christian Mulvihill received 35,000 RSUs. Each RSU represents a contingent right to receive one share of Class A common stock.

When did the RSU awards for Vulcan Infrastructure and Power (GREE) executives vest?
The one-time RSU awards granted on July 20, 2026 vested on July 23, 2026. Upon vesting, each restricted stock unit entitles the holder to receive one share of Vulcan’s Class A common stock, subject to the plan’s terms.

What strategic transaction is linked to the GREE executive RSU awards?
The awards recognize contributions to Vulcan’s strategic transformation, including definitive agreements for an aggregate strategic investment of about $39.4 million. This investment was publicly announced by the company on July 20, 2026 as part of its broader strategic initiatives.

Under which plan were the Vulcan Infrastructure and Power (GREE) RSUs granted?
The executive RSU awards were granted under Vulcan Infrastructure and Power’s Third Amended and Restated 2021 Equity Incentive Plan. This plan governs the terms of equity-based compensation, including restricted stock unit grants to company employees and officers.
FALSE000184497100018449712026-07-202026-07-200001844971us-gaap:CommonClassAMember2026-07-202026-07-200001844971gree:SeniorNotesDue2026850Member2026-07-202026-07-20



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM 8-K
___________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

July 20, 2026
Date of Report (date of earliest event reported)
___________________________________
Vulcan Infrastructure and Power Inc.
(Exact name of registrant as specified in its charter)
___________________________________

Delaware
(State or other jurisdiction of
incorporation or organization)
001-40808
(Commission File Number)
86-1746728
(I.R.S. Employer Identification Number)
1159 Pittsford-Victor Road, Suite 240
Pittsford, New York 14534
(Address of principal executive offices and zip code)
(315) 536-2359
(Registrant's telephone number, including area code)
___________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Class A common stock, par value $.0001
GREE
The Nasdaq Global Select Market
8.50% Senior Notes due 2026
GREEL
The Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.
Emerging growth company   ☒ 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐







Item 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 19, 2026, the Compensation Committee of the Board of Directors of Vulcan Infrastructure and Power Inc. (formerly Greenidge Generation Holdings Inc.) (the “Company”) approved one-time equity awards to Jordan Kovler, the Company’s Chief Executive Officer, Dale Irwin, the Company’s President, and Christian Mulvihill, the Company’s Chief Financial Officer, in recognition of their contributions to the Company’s strategic transformation, including the Company's entry into definitive agreements relating to the aggregate strategic investment of approximately $39.4 million in the Company, which was announced by the Company on July 20, 2026. The awards were granted on July 20, 2026 and consisted of 125,000 restricted stock units (“RSUs”) granted to Mr. Kovler, 50,000 RSUs granted to Mr. Irwin and 35,000 RSUs granted to Mr. Mulvihill. Each RSU represents a contingent right to receive one share of the Company’s Class A common stock. The RSUs were granted pursuant to the Company’s Third Amended and Restated 2021 Equity Incentive Plan and vested on July 23, 2026.




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Vulcan Infrastructure and Power Inc.
By:
/s/ Jordan Kovler
Name:
Jordan Kovler
Title:
Chief Executive Officer

Date: July 23, 2026

Source: View Original Filing on SEC EDGAR

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