SunPower Reports Inducement Grants in Connection with Ambia Acquisition

Rhea-AI Summary

SunPower (Nasdaq: SPWR) announced on November 21, 2025 that it granted inducement awards tied to its acquisition of Ambia Energy. The company issued a total of 2.0 million time-based RSUs to two key Ambia employees as a material inducement to employment.

Terms: 20% of RSUs vest after one year, remainder vests in equal monthly installments through the fifth anniversary, subject to continuous service, and include accelerated vesting if the company terminates the recipient without cause. The grants were approved by the board and issued outside the company’s 2023 Equity Incentive Plan under Nasdaq Listing Rule 5635(c)(4).

Positive

• 2.0 million RSUs granted on November 21, 2025
• RSU vesting schedule supports multi-year retention
• Board-approved grants under Nasdaq Rule 5635(c)(4)

Negative

• Grants issued outside 2023 Equity Incentive Plan
• RSUs include accelerated vesting upon termination without cause

OREM, Utah, Nov. 24, 2025 (GLOBE NEWSWIRE) -- SunPower Inc. (“SunPower” or the “Company”) (Nasdaq: SPWR) a solar technology, services, and installation company, today announced that on November 21, 2025 it made inducement grants to two key employees of Ambia Energy as a material inducement to employment with SunPower following its acquisition of Ambia Energy. The inducement grants consist of time-based restricted stock units (“RSUs”) for a total of 2.0 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 (SPWR) announce on November 21, 2025 about Ambia acquisition inducements?

SunPower granted a total of 2.0 million time-based RSUs to two Ambia employees as inducement to employment.

How do the SunPower RSUs granted on November 21, 2025 vest?

20% of RSUs vest after one year; the remainder vests in equal monthly installments through year five, subject to continuous service.

Do the inducement RSUs include accelerated vesting for SunPower (SPWR)?

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

Were the SunPower inducement grants approved by the board and compliant with Nasdaq rules?

Yes; the board approved the grants and they were issued outside the 2023 Equity Incentive Plan per Nasdaq Listing Rule 5635(c)(4).

How many employees received inducement RSUs in connection with the Ambia acquisition?

Two key Ambia employees received the inducement RSU awards totaling 2.0 million shares.