SunPower Announces Inducement Grants for Cobalt Acquisition

SunPower Inc. announced inducement grants to two key employees of Cobalt Power Systems, Inc. in connection with its acquisition of Cobalt. The grants consist of time-based restricted stock units for a total of 850,000 shares of SunPower common stock, with vesting subject to the recipients' continuous service through each vesting date. The inducement grants were approved by SunPower's board of directors and granted outside of its 2023 Equity Incentive Plan as a material inducement to employment with SunPower.