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SunPower Reports Inducement Grants In Connection with Cobalt Acquisition

February 05, 2026 at 16:30 PM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

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.