Spruce Power: Director Clara McBane Resigns; Benjamin Rosenzweig Appointed

What Happened

• Spruce Power Holding Corporation announced that director Clara Nagy McBane notified the company on September 10, 2026 that she is resigning from the Board, contingent on agreement about the treatment of her outstanding equity awards and confirmation of continued indemnification and D&O insurance coverage (the “Effective Date”).
• On the same date, the Board appointed Benjamin Rosenzweig to serve as a Class B director effective upon that Effective Date. Mr. Rosenzweig is employed by Steel Partners Holdings L.P., an affiliate of SP Strategic Holdings LLC, which holds approximately 17.8% of Spruce Power’s outstanding common stock. He will be compensated under the company’s non‑employee director policy and will sign the company’s standard director indemnification agreement.

Key Details

• Resignation notice date: September 10, 2026; resignation is contingent on settlement of equity award treatment and indemnification/D&O coverage.
• Appointment: Benjamin Rosenzweig named Class B director effective upon the Effective Date created by Ms. McBane’s resignation.
• Shareholder link: Mr. Rosenzweig is employed by an affiliate of SP Strategic Holdings LLC, a ~17.8% holder of Spruce Power common stock.
• Governance protections: Mr. Rosenzweig will enter into the Company’s standard indemnification agreement covering expenses like attorneys’ fees, judgments, fines and settlements.

Why It Matters

• This filing documents a board composition change that could affect governance and shareholder influence: the incoming director is affiliated with a large holder (≈17.8%), which may be relevant to investors watching activist or block‑holder involvement.
• The resignation is contingent, so Ms. McBane remains on the board until the company and she finalize equity award treatment and indemnification/D&O arrangements. There are no immediate financial results or operational changes disclosed in this 8‑K.