Scott Maskin boosts SUNation Energy (SUNE) stake via debt conversion

Rhea-AI Filing Summary

SUNation Energy, Inc. insider Scott Maskin, the company’s Chief Executive Officer and director, reports beneficial ownership of 554,736 shares of common stock, representing 16.6% of the company’s outstanding common stock.

Maskin originally received 513,300 shares as part of SUNation Solar Systems’ sale to SUNation Energy on November 9, 2022, and later acquired 10,775 shares through the 2022 Employee Stock Purchase Plan. On April 14, 2026, he exchanged debt under a debt conversion agreement for 554,712 shares of SUNation Energy common stock, consolidating his position. The reported share amounts reflect the company’s 1‑for‑15, 1‑for‑50, and 1‑for‑200 reverse stock splits completed in 2024 and 2025.

Key Figures

Beneficial ownership: 554,736 shares Ownership percentage: 16.6% Acquisition consideration shares: 513,300 shares +4 more

7 metrics

Beneficial ownership 554,736 shares Common stock beneficially owned by Scott Maskin

Ownership percentage 16.6% Percent of SUNation Energy common stock class

Acquisition consideration shares 513,300 shares Shares received in SUNation Solar Systems sale on 11/09/2022

ESPP acquisition 10,775 shares Acquired through 2022 Employee Stock Purchase Plan on 06/30/2023

Debt conversion shares 554,712 shares Exchanged for debt under debt conversion agreement on 04/14/2026

Gifted shares to MBB Energy LLC 45,000 shares Gift on 02/10/2023, later gifted back on 06/14/2023

Reverse stock split ratios 1-for-15, 1-for-50, 1-for-200 Splits on 06/12/2024, 10/17/2024, 04/09/2025

Key Terms

Schedule 13D, reverse stock split, Employee Stock Purchase Plan, debt conversion agreement, +1 more

5 terms

Schedule 13D regulatory

"If the filing person has previously filed a statement on Schedule 13G to report the acquisition"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

reverse stock split financial

"reflects adjustments for the Issuer's 1-for-200 reverse stock split that was effected on April 9, 2025"

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

Employee Stock Purchase Plan financial

"On June 30, 2023, the Reporting Person acquired 10,775 shares through the Issuer's 2022 Employee Stock Purchase Plan."

An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.

debt conversion agreement financial

"On April 14, 2026 the Reporting Person exchanged debt pursuant to a debt conversion agreement for 554,712 shares"

beneficial owner regulatory

"Thus, the Reporting Person is deemed to be the beneficial owner of an aggregate 16.6% of the common stock"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

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

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Accepted by SEC EDGAR 05/01/2026 - 01:01 PM Learn about SEC filing dates

FAQ

What ownership stake in SUNation Energy (SUNE) does Scott Maskin report?

Scott Maskin reports beneficial ownership of 554,736 shares of SUNation Energy common stock, equal to 16.6% of the company’s outstanding shares. This reflects his role as CEO and director and consolidates shares received from the SUNation acquisition and later transactions.

How did Scott Maskin acquire his SUNation Energy (SUNE) shares?

Scott Maskin received 513,300 shares as part of SUNation Solar Systems’ sale to SUNation Energy on November 9, 2022. He later bought 10,775 shares through the 2022 Employee Stock Purchase Plan and, on April 14, 2026, obtained 554,712 shares via a debt conversion agreement.

What is the significance of the April 14, 2026 debt conversion for SUNE?

On April 14, 2026, Scott Maskin exchanged debt for 554,712 shares of SUNation Energy common stock under a debt conversion agreement. This transaction increased his equity position while reducing his debt claim against the company, concentrating his exposure in SUNation Energy shares.

How have reverse stock splits affected Scott Maskin’s SUNE share counts?

The reported holdings reflect three reverse stock splits: 1-for-15 on June 12, 2024, 1-for-50 on October 17, 2024, and 1-for-200 on April 9, 2025. These corporate actions reduced the number of shares outstanding, adjusting Maskin’s share counts without changing his economic stake.

What roles does Scott Maskin hold at SUNation Energy (SUNE)?

Scott Maskin serves as Chief Executive Officer and Director of SUNation Energy. He joined SUNation’s leadership following the November 9, 2022 acquisition of SUNation Solar Systems, reflecting his continued operational and governance involvement alongside his significant equity ownership position.

Has Scott Maskin engaged in other notable SUNE share transfers?

Yes. On February 10, 2023, he gifted 45,000 shares to MBB Energy LLC, and on June 14, 2023, MBB gifted the same 45,000 shares back to him. These transfers occurred before the later reverse stock splits and are reflected in his adjusted ownership totals.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

SUNation Energy, Inc.

(Name of Issuer)

Common Stock, $0.05 par value per share

(Title of Class of Securities)

72303P503

(CUSIP Number)

Scott Maskin
171 Remington Blvd.,
Ronkonkoma, NY, 11779
(631) 750-9454

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

04/14/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 72303P503

1

Name of reporting person

Scott Maskin

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 554,736.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 554,736.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

554,736.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

16.6 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

(1) The number of shares beneficially owned reflects adjustments for the Issuer's 1-for-200 reverse stock split that was effected on April 9, 2025, 1-for-50 reverse stock split that was effected on October 17, 2024 and the 1-for-15 reverse stock split that was effected on June 12, 2024. On April 14, 2026 the Reporting Person exchanged debt pursuant to a debt conversion agreement for 554,712 shares of the Issuer's Common Stock.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.05 par value per share
(b)	Name of Issuer: SUNation Energy, Inc.
(c)	Address of Issuer's Principal Executive Offices: 171 Remington Blvd., Ronkonkoma, NEW YORK , 11779.
Item 2.	Identity and Background
(a)	This Schedule 13D is being filed on behalf of Scott Maskin, an individual (the "Reporting Person"), with respect to shares of the Issuer's Common Stock, held by the Reporting Person directly.
(b)	The address of the principal business office of the Reporting Person is 171 Remington Blvd., Ronkonkoma NY 11779.
(c)	The Reporting Person's principal occupation is as the Issuer's Chief Executive Officer and Director at the address of the Issuer.
(d)	During the last five years, the Reporting Person has not been convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors).
(e)	During the last five years, the Reporting Person has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	The Reporting Person is a citizen of the United States.
Item 3.	Source and Amount of Funds or Other Consideration
	The information in Item 4 is incorporated herein by reference.
Item 4.	Purpose of Transaction
	On November 9, 2022, the Issuer acquired all of the issued and outstanding equity of SUNation Solar Systems, Inc. and five of its affiliated entities ("SUNation"), directly or indirectly from SUNation's owners, which included the Reporting Person. The Reporting Person received 513,300 shares of Issuer's Common Stock as part of the consideration for the sale of SUNation by the Reporting Person and others in the transaction. In connection with the SUNation acquisition, the Issuer appointed the Reporting Person as a member of its Board of Directors, as well as the Senior Vice President and General Manager, New York Division of the Issuer. The Issuer and the Reporting Person entered into an Employment Agreement, dated November 9, 2022 related to the Reporting Person's employment with the Issuer. On June 30, 2023, the Reporting Person acquired 10,775 shares through the Issuer's 2022 Employee Stock Purchase Plan. On February 10, 2023, the Reporting Person gifted 45,000 of the 513,300 shares to MBB Energy LLC, a limited liability company ("MBB"). On June 14, 2023, MBB gifted the 45,000 shares back to the Reporting Person. The number of shares beneficially owned below reflects adjustments for the Issuer's 1-for-200 reverse stock split that was effected on April 9, 2025, 1-for-50 reverse stock split that was effected on October 17, 2024 and the 1-for-15 reverse stock split that was effected on June 12, 2024. On April 14, 2026 the Reporting Person exchanged debt pursuant to a debt conversion agreement for 554,712 shares of the Issuer's Common Stock.
Item 5.	Interest in Securities of the Issuer
(a)	The Reporting Person has the sole power vote or to direct the vote and the sole power to dispose or to direct the disposition of the 554,736 shares of common stock (the "Shares") of the Issuer. The percentage of Shares reported to be beneficially owned by the Reporting Person is based on information from the Issuer. Thus, the Reporting Person is deemed to be the beneficial owner of an aggregate 16.6% of the common stock of the Issuer.
(b)	The Reporting Person has the sole power to vote or to direct the vote and the sole power to dispose or to direct the disposition of the 554,736 Shares. The percentage of Shares reported to be beneficially owned by the Reporting Person is based on information from the Issuer. Thus, the Reporting Person is deemed to be the beneficial owner of an aggregate 16.6% of the common stock of the Issuer.
(c)	The Company and the Reporting Person have not engaged in any transaction in shares of the Issuer's Common Stock during the past 60 days other than as described in Item 4. The responses in Item 4 is incorporated by reference.
(d)	Not applicable.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	The information in Item 4 is incorporated herein by reference. Other than the agreements described in Item 4, as of the date hereof, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the Reporting Person and between such persons and any person with respect to any securities of the Issuer.
Item 7.	Material to be Filed as Exhibits.
	sec.gov/Archives/edgar/data/22701/000121390026043846/ea028643601ex10-3.htm

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Scott Maskin

Signature:	/s/ Scott Maskin
Name/Title:	Scott Maskin
Date:	05/01/2026