SunPower Reports Inducement Grants in Connection with Sunder Acquisition

Rhea-AI Summary

SunPower (Nasdaq: SPWR) announced on October 8, 2025 that it granted inducement awards to three key Sunder Energy employees following SunPower's acquisition of Sunder Energy. The awards are time-based restricted stock units totaling 2.7 million shares of SunPower common stock.

Vesting: 20% of RSUs vest one year after grant; the remainder vests in equal monthly installments through the fifth anniversary, subject to continuous service. RSUs accelerate if the recipient is terminated by the company without cause. The board approved the grants and issued them outside the company’s 2023 Equity Incentive Plan pursuant to Nasdaq Listing Rule 5635(c)(4).

Positive

• Inducement grants align three Sunder employees with SunPower
• Total of 2.7 million RSUs awarded on October 8, 2025
• RSU vesting schedule includes accelerated vesting for without-cause termination

Negative

• 2.7 million RSUs may dilute existing shareholders
• Grants issued outside 2023 Equity Incentive Plan could raise governance questions

OREM, Utah, Oct. 10, 2025 (GLOBE NEWSWIRE) -- SunPower (Complete Solaria, Inc.; herein “SunPower,” the “Company,” or Nasdaq: “SPWR”) a solar technology, services, and installation company, today announced that on October 8, 2025 it made inducement grants to three key employees of Sunder Energy as a material inducement to employment with SunPower following its acquisition of Sunder Energy. The inducement grants consist of time-based restricted stock units (“RSUs”) for a total of 2.7 million shares of SunPower common stock, with 20% of the RSUs vesting one year after grant and the remainder vesting in equal monthly installments thereafter until the fifth anniversary of the grant date, with such vesting subject to the RSU recipient’s continuous service through each vesting date. The RSUs are also subject to accelerated vesting in the event the RSU recipient’s employment is terminated by the Company without cause.

These inducement grants were approved by the board of directors of the Company and granted outside of the Company’s 2023 Equity Incentive Plan as a material inducement to entering into employment with SunPower in accordance with Nasdaq Listing Rule 5635(c)(4).

About SunPower
SunPower (Nasdaq: SPWR) is a leading residential solar services provider in North America. The Company’s digital platform and installation services support energy needs for customers wishing to make the transition to a more energy-efficient lifestyle. For more information visit www.us.sunpower.com.

Company Contacts:
Jeanne Nguyen	Sioban Hickie
CFO	VP Investor Relations
jeanne.nguyen@sunpower.com	IR@sunpower.com
	(801) 477-5847

Source: SunPower

FAQ

What did SunPower announce on October 8, 2025 related to Sunder Energy?

SunPower granted inducement RSUs totaling 2.7 million shares to three Sunder employees following the acquisition.

How do the SunPower RSUs granted on October 8, 2025 vest?

20% vest one year after grant; the remainder vests in equal monthly installments through the fifth anniversary, subject to continuous service.

Will the October 8, 2025 RSU grants to Sunder employees accelerate on termination?

Yes. The RSUs are subject to accelerated vesting if the recipient is terminated by the company without cause.

Were the SunPower RSU inducement grants approved by the board and how were they issued?

The board approved the grants and they were issued outside the company's 2023 Equity Incentive Plan under Nasdaq Listing Rule 5635(c)(4).

Could the 2.7 million RSUs granted on October 8, 2025 affect SPWR shareholders?

The grants represent a potential source of dilution to existing SunPower shareholders if converted to common stock.