UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K/A
Amendment No. 1
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 26, 2022
SunPower Corporation
(Exact name of registrant as specified in its charter)
(Commission File Number)
| (State or other jurisdiction of incorporation) | (I.R.S. Employer Identification No.) | ||||
(Address of principal executive offices, with zip code)
(408 ) 240-5500
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
EXPLANATORY NOTE
This Amendment No. 1 amends the current report on Form 8-K of SunPower Corporation (the “Company”) filed on August 31, 2022 (the “Original Filing”) to disclose certain compensation arrangements of Guthrie Dundas in connection with his appointment as interim chief financial officer of the Company. At the time of the Original Filing, such compensation arrangements had not been determined.
Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. | ||||
On September 19, 2022, and in connection with the appointment of Guthrie Dundas as the interim chief financial officer of the Company, the Compensation Committee of the Board of Directors of the Company approved a new compensation package for Mr. Dundas. Under the terms of the new compensation package, Mr. Dundas’ annual base salary will be increased by $15,000 per month for each month that he serves as the interim chief financial officer. In addition, Mr. Dundas was granted a cash retention award of $180,000, which will vest and become payable upon September 30, 2023, subject to his continued employment through such date, or an earlier termination of employment by the Company without cause.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SUNPOWER CORPORATION | ||||||||
| September 21, 2022 | By: | /S/ JENNIFER RAPPOPORT COLIMON | ||||||
| Name: | Jennifer Rappoport Colimon | |||||||
| Title: | Interim General Counsel and Corporate Secretary | |||||||