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<TITLE>Form 8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) of </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>The Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>November&nbsp;1, 2013 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>SOLARCITY
CORPORATION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P>
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<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>001-35758</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>02-0781046</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(IRS Employer<BR>Identification No.)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>3055 Clearview Way </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>San Mateo, California 94402 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices, including zip code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(650) 638-1028 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or former address, if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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 (see General Instruction A.2. below): </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Entry into a Material Definitive Agreement </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Amended and Restated Revolving Credit Agreement </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On November&nbsp;1, 2013, SolarCity Corporation (the &#147;Company&#148;) entered into an amended and restated credit agreement (the
&#147;Restated Credit Agreement&#148;) with Bank of America, N.A., an affiliate of Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith Incorporated, as administrative agent, and a syndicate of banks, including Credit Suisse AG, Cayman Islands Branch,
increasing the committed capital under its revolving credit facility from $75.0 million to $160.5 million (the &#147;Revolving Credit Facility&#148;). The Revolving Credit Facility may be further increased by an additional $89.5 million, subject to
conditions set forth in the Restated Credit Agreement. The Revolving Credit Facility will continue to be used for working capital, letters of credit, and general corporate needs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Borrowed funds under the Revolving Credit Facility bear interest at a rate of 3.25% plus LIBOR or, at the Company&#146;s option, at a rate
equal to 2.25% plus the higher of (A)&nbsp;the federal funds rate plus 0.5%, (B)&nbsp;Bank of America&#146;s published &#147;prime rate,&#148; or (C)&nbsp;LIBOR plus 1%. The fee for letters of credit is 3.25%&nbsp;per annum, and the fee for undrawn
commitments is 0.375%&nbsp;per annum. The Revolving Credit Facility is secured by certain of our machinery and equipment, accounts receivable, inventory and other assets. The Revolving Credit Facility matures on December&nbsp;31, 2016. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of September&nbsp;30, 2013, $71.9 million, net of fees, was outstanding under the Revolving Credit Facility subject to interest rates
ranging between 4.05% and 4.06%. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the terms of the Revolving Credit Facility, we are required to meet various restrictive covenants,
including meeting certain reporting requirements, such as the completion and presentation of audited consolidated financial statements. We are also required to maintain an interest coverage ratio, as defined in the Restated Credit Agreement, of at
least 1.50:1.00, measured quarterly as of the last day of each quarter, and to maintain unencumbered liquidity, as defined in the Restated Credit Agreement, of at least $50.0 million, measured monthly as of the last day of each month; provided,
however, in the case of unencumbered liquidity, an event of default shall not have been deemed to occur unless (i)&nbsp;unencumbered liquidity is less than the $50.0 million threshold as of any month end for two consecutive months or
(ii)&nbsp;unencumbered liquidity is less than $40.0 million as of the last day of any month. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of November&nbsp;1, 2013, we were in
compliance with all debt covenants under the Revolving Credit Facility. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Bennet Van de Bunt has been appointed to the Company&#146;s Board of Directors, effective November&nbsp;5, 2013. Mr.&nbsp;Van de Bunt will
serve as a Class&nbsp;I director and will stand for reelection at the 2016 annual meeting of stockholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Van de Bunt has
served as a principal of Guthy-Renker LLC, a direct marketing company, since 1993, and as a member of its board of directors since 1994. Mr.&nbsp;Van de Bunt has also served as the chief executive officer of Guthy-Renker Holdings, LLC, an affiliate
of Guthy-Renker responsible for business affairs and new business development. Prior to joining Guthy-Renker, Mr.&nbsp;Van de Bunt was an attorney at Allen Matkins Leck Gamble Mallory&nbsp;&amp; Natsis LLP. Mr.&nbsp;Van de Bunt holds a JD from
Harvard Law School, is a member of the California Bar Association, and holds a degree in history from UCLA where he graduated with honors. Mr.&nbsp;Van de Bunt previously served on the board of directors of the Electronic Retailing Association. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Guthy-Renker Holdings, LLC is also an affiliate of Paramount Energy Solutions, LLC. In September 2013, the Company acquired certain assets
from Paramount Energy Solutions, LLC and Paramount GR Holdings, LLC (the &#147;Sellers&#148;) in exchange for consideration consisting of $116.3 million worth of shares of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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common stock of the Company, subject to certain adjustments, and $3.7 million in cash. Pursuant to the terms of the asset purchase agreement entered into in connection with such acquisition, the
Company agreed to recommend to its Nominating and Corporate Governance Committee (the &#147;Committee&#148;) for consideration as a member of the Company&#146;s board of directors a nominee designated by the Sellers. In accordance with such
agreement, the Sellers designated Mr.&nbsp;Van de Bunt, the Committee considered the nomination of Mr.&nbsp;Van de Bunt and recommended to the Company&#146;s board of directors that Mr.&nbsp;Van de Bunt be elected to the Company&#146;s board of
directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with his appointment, Mr.&nbsp;Van de Bunt will enter into the Company&#146;s standard form of director
indemnification agreement and will receive the Company&#146;s standard compensation for non-employee directors. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><B>SOLARCITY CORPORATION</B></TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Lyndon R. Rive</P></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Lyndon R. Rive</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Chief Executive
Officer</P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: November&nbsp;7, 2013 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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Form 8-K
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
Date of Report (Date of earliest event reported)
November 1, 2013
SOLARCITY
CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
001-35758
02-0781046
(State or other jurisdiction of
incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
3055 Clearview Way
San Mateo, California 94402
(Address of principal executive offices, including zip code)
(650) 638-1028
(Registrant's telephone number, including area code)
Not Applicable
(Former
name or former address, if changed since last report)
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 (see General Instruction A.2. below):
¨
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))
Item 1.01
Entry into a Material Definitive Agreement
Amended and Restated Revolving Credit Agreement
On November 1, 2013, SolarCity Corporation (the "Company") entered into an amended and restated credit agreement (the
"Restated Credit Agreement") with Bank of America, N.A., an affiliate of Merrill Lynch, Pierce, Fenner & Smith Incorporated, as administrative agent, and a syndicate of banks, including Credit Suisse AG, Cayman Islands Branch,
increasing the committed capital under its revolving credit facility from $75.0 million to $160.5 million (the "Revolving Credit Facility"). The Revolving Credit Facility may be further increased by an additional $89.5 million, subject to
conditions set forth in the Restated Credit Agreement. The Revolving Credit Facility will continue to be used for working capital, letters of credit, and general corporate needs.
Borrowed funds under the Revolving Credit Facility bear interest at a rate of 3.25% plus LIBOR or, at the Company's option, at a rate
equal to 2.25% plus the higher of (A) the federal funds rate plus 0.5%, (B) Bank of America's published "prime rate," or (C) LIBOR plus 1%. The fee for letters of credit is 3.25% per annum, and the fee for undrawn
commitments is 0.375% per annum. The Revolving Credit Facility is secured by certain of our machinery and equipment, accounts receivable, inventory and other assets. The Revolving Credit Facility matures on December 31, 2016.
As of September 30, 2013, $71.9 million, net of fees, was outstanding under the Revolving Credit Facility subject to interest rates
ranging between 4.05% and 4.06%.
Under the terms of the Revolving Credit Facility, we are required to meet various restrictive covenants,
including meeting certain reporting requirements, such as the completion and presentation of audited consolidated financial statements. We are also required to maintain an interest coverage ratio, as defined in the Restated Credit Agreement, of at
least 1.50:1.00, measured quarterly as of the last day of each quarter, and to maintain unencumbered liquidity, as defined in the Restated Credit Agreement, of at least $50.0 million, measured monthly as of the last day of each month; provided,
however, in the case of unencumbered liquidity, an event of default shall not have been deemed to occur unless (i) unencumbered liquidity is less than the $50.0 million threshold as of any month end for two consecutive months or
(ii) unencumbered liquidity is less than $40.0 million as of the last day of any month.
As of November 1, 2013, we were in
compliance with all debt covenants under the Revolving Credit Facility.
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Bennet Van de Bunt has been appointed to the Company's Board of Directors, effective November 5, 2013. Mr. Van de Bunt will
serve as a Class I director and will stand for reelection at the 2016 annual meeting of stockholders.
Mr. Van de Bunt has
served as a principal of Guthy-Renker LLC, a direct marketing company, since 1993, and as a member of its board of directors since 1994. Mr. Van de Bunt has also served as the chief executive officer of Guthy-Renker Holdings, LLC, an affiliate
of Guthy-Renker responsible for business affairs and new business development. Prior to joining Guthy-Renker, Mr. Van de Bunt was an attorney at Allen Matkins Leck Gamble Mallory & Natsis LLP. Mr. Van de Bunt holds a JD from
Harvard Law School, is a member of the California Bar Association, and holds a degree in history from UCLA where he graduated with honors. Mr. Van de Bunt previously served on the board of directors of the Electronic Retailing Association.
Guthy-Renker Holdings, LLC is also an affiliate of Paramount Energy Solutions, LLC. In September 2013, the Company acquired certain assets
from Paramount Energy Solutions, LLC and Paramount GR Holdings, LLC (the "Sellers") in exchange for consideration consisting of $116.3 million worth of shares of
2
common stock of the Company, subject to certain adjustments, and $3.7 million in cash. Pursuant to the terms of the asset purchase agreement entered into in connection with such acquisition, the
Company agreed to recommend to its Nominating and Corporate Governance Committee (the "Committee") for consideration as a member of the Company's board of directors a nominee designated by the Sellers. In accordance with such
agreement, the Sellers designated Mr. Van de Bunt, the Committee considered the nomination of Mr. Van de Bunt and recommended to the Company's board of directors that Mr. Van de Bunt be elected to the Company's board of
directors.
In connection with his appointment, Mr. Van de Bunt will enter into the Company's standard form of director
indemnification agreement and will receive the Company's standard compensation for non-employee directors.
3
SIGNATURES
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.
SOLARCITY CORPORATION
By:
/s/ Lyndon R. Rive
Lyndon R. Rive
Chief Executive
Officer
Date: November 7, 2013
4