SunPower Reports Inducement Grants In Connection with Cobalt Acquisition

Rhea-AI Summary

SunPower (NASDAQ: SPWR) announced inducement grants tied to its acquisition of Cobalt Power Systems. On Feb 2, 2026 SunPower granted 850,000 RSUs to two key Cobalt employees as a material inducement to employment.

Twenty percent of the RSUs vest one year after grant; the remainder vests monthly through the fifth anniversary. Grants were board-approved and issued outside the company’s 2023 Equity Incentive Plan under Nasdaq Listing Rule 5635(c)(4).

Positive

• 850,000 RSUs granted to two Cobalt employees
• Board approved grants on behalf of shareholders
• 20% of RSUs vest one year after grant

Negative

• Remaining RSUs vest monthly through the fifth anniversary
• Grants issued outside the 2023 Equity Incentive Plan

News Market Reaction – SPWRW

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+12.50% News Effect

On the day this news was published, SPWRW gained 12.50%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

OREM, Utah, Feb. 05, 2026 (GLOBE NEWSWIRE) -- SunPower Inc. (“SunPower,” the “Company,” or Nasdaq: “SPWR”) a solar technology, services, and installation company, today announced that on February 2, 2026 it made inducement grants to two key employees of Cobalt Power Systems, Inc. (“Cobalt”) as a material inducement to employment with SunPower upon SunPower’s acquisition of Cobalt. The inducement grants consist of time-based restricted stock units (“RSUs”) for a total of 850,000 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.

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 Inc. (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.sunpower.com.

Company Contact:
Sioban Hickie
VP Investor Relations
IR@sunpower.com
(801) 515-8727

Source: SunPower Inc.

FAQ

What did SunPower (SPWR) grant to Cobalt employees on Feb 2, 2026?

SunPower granted a total of 850,000 time-based RSUs to two Cobalt employees as inducements to employment. According to the company, the grants were approved by the board and issued outside the 2023 Equity Incentive Plan under Nasdaq rules.

How does the RSU vesting schedule work for SunPower's (SPWR) inducement grants?

Twenty percent of the RSUs vest one year after the Feb 2, 2026 grant, then monthly thereafter until year five. According to the company, vesting is subject to each recipient’s continuous service through each vesting date.

Why were inducement grants issued outside SunPower's 2023 Equity Incentive Plan (SPWR)?

The grants were issued as a material inducement to employment and approved under Nasdaq Listing Rule 5635(c)(4). According to the company, issuing them outside the 2023 plan facilitated hiring in connection with the Cobalt acquisition.

Do SunPower's (SPWR) inducement grants require shareholder approval?

The company reported the inducement grants were board-approved and issued under Nasdaq Listing Rule 5635(c)(4). According to the company, such grants are permitted as material inducements to employment without immediate shareholder approval.

What is the time horizon for full vesting of SunPower's (SPWR) Cobalt inducement RSUs?

Full vesting occurs by the fifth anniversary of the Feb 2, 2026 grant date via monthly installments after the first-year tranche. According to the company, the schedule requires continuous service through each vesting date.

How are SunPower's (SPWR) inducement grants related to the Cobalt acquisition?

The company described the RSU awards as material inducements to enter employment with SunPower upon its acquisition of Cobalt. According to the company, the grants are part of integrating Cobalt leadership into SunPower.