Orion Energy Systems, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Orion Energy Systems (NASDAQ: OESX) has announced equity inducement grants for its new Senior Vice President of Channel Sales, Michael Ontrop. The grants include 100,000 shares of restricted stock and a non-qualified stock option for 125,000 shares of common stock.
The restricted stock will vest in three equal annual installments over three years, subject to continued employment. The stock option's vesting is tied to share price performance targets of $3.00, $4.00, and $5.00 over a three-year period, with the exercise price to be determined based on the average closing price over 10 trading days before July 18, 2025.
Positive
- None.
Negative
- Potential dilution from 225,000 new shares through restricted stock and options
News Market Reaction
On the day this news was published, OESX declined 1.66%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
MANITOWOC, Wis., July 01, 2025 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of energy-efficient LED lighting, electric vehicle charging station and maintenance service solutions, announced today that the Company authorized the following equity awards to Michael Ontrop, the Company’s new Senior Vice President of Channel Sales: (i) 100,000 shares of restricted stock and (ii) a non-qualified stock option exercisable for 125,000 shares of the Company’s Common Stock.
The equity awards were approved by Orion’s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4) as a material inducement for Mr. Ontrop to accept the Company’s offer of employment, and the underlying shares will not be drawn from Orion’s 2016 Omnibus Incentive Plan.
Mr. Ontrop’s restricted stock award will vest with respect to one-third of the restricted shares on each of the first three anniversaries of the grant date, provided that Mr. Ontrop is then still employed with the Company on the applicable vesting date.
Mr. Ontrop’s stock option will vest as follows if the Company’s per share price achieves the following levels over the three-year period after the grant date and provided Mr. Ontrop is then still employed by the Company on the applicable vesting date: (a) one-third at
About Orion Energy Systems (www.orionlighting.com)
Orion provides energy efficiency and clean tech solutions, including LED lighting and controls, electrical vehicle (EV) charging solutions, and maintenance services. Orion specializes in turnkey design-through-installation solutions for large national customers, as well as projects through ESCO and distribution partners, with a commitment to helping customers achieve their business and environmental goals with healthy, safe and sustainable solutions that reduce their carbon footprint and enhance business performance.
Orion is committed to operating responsibly throughout all areas of our organization. Learn more about our Sustainability and Governance priorities, goals and progress here or visit our website at www.orionlighting.com.
Engage with Us
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StockTwits: @OESX_IR
| Investor Relations Contacts | ||
| Per Brodin, CFO | William Jones; David Collins | |
| Orion Energy Systems, Inc. | Catalyst IR | |
| pbrodin@oesx.com | (212) 924-9800 or oesx@catalyst-ir.com | |
FAQ
What equity grants did Orion Energy Systems (OESX) announce for its new SVP?
How will the OESX restricted stock grants vest for Michael Ontrop?
What are the stock price targets for OESX option vesting?
When will the OESX stock options be granted to Michael Ontrop?
