SUNPOWER CORP Form 8-K: Current report
Filings on SEC EDGAR, newest first; amendments sit with their base form. Values are as filed.
- 2023-12-22: Form 8-K; Period of report 2023-12-22; Description 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement; 8.01 Other Events; Details 2.04.
- 2023-12-18: Form 8-K; Period of report 2023-11-29; Description 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement; Details 2.04.
- 2023-12-11: Form 8-K; Period of report 2023-12-08; Description 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; 8.01 Other Events; Details 1.01.
- 2023-12-08: Form 8-K; Period of report 2023-12-04; Description 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers; Details 5.02.
| Filed | Form | Period of report | Description | Details | Document |
|---|---|---|---|---|---|
| 2023-12-22 | 8-K | 2023-12-22 | 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement; 8.01 Other Events | 2.04 On December 22, 2023, SPWR RIC Borrower 2022-1, a wholly owned indirect subsidiary (the “Subsidiary”) of SunPower Corporation (the “Company”), entered into the Fourth Amendment and Temporary Waiver to the Loan and Security Agreement (the “Amendment”) which waives certain enumerated events of default under and amends that certain Loan and Security Agreement, dated June 30, 2022, by and among the Subsidiary, the lenders party thereto from time to time, Atlas Securitized Products Holdings, L.P., as administrative agent and Computershare Trust Company, National Association, as paying agent (as amended, the “Atlas Credit Agreement”). 8.01 The Company previously disclosed in a Current Report on Form 8-K filed with the Securities and Exchange Commission (“SEC”) on November 27, 2023 that the Company had received a notice from The Nasdaq Stock Market LLC (“Nasdaq”) on November 22, 2023 indicating that, as a result of not having timely filed the Company’s Form 10-Q for the fiscal quarter ended October 1, 2023 (the “Form 10-Q”) with the SEC, the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”), which requires timely filing of all required periodic financial reports with the SEC. | spwr-20231222.htm |
| 2023-12-18 | 8-K | 2023-11-29 | 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement | 2.04 SPWR RIC Borrower 2022-1, a wholly owned indirect subsidiary of SunPower Corporation (the “Company”), is party to that certain Loan and Security Agreement, dated June 30, 2022, with the lenders party thereto from time to time, Atlas Securitized Products Holdings, L.P., as administrative agent and Computershare Trust Company, National Association, as paying agent (as amended, the “Atlas Credit Agreement”). | spwr-20231129.htm |
| 2023-12-11 | 8-K | 2023-12-08 | 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; 8.01 Other Events | 1.01 Entry into a Material Definitive Agreement. 2.03 The discussion in Item 1.01 is incorporated herein by reference. 8.01 Subsequent to entering into the Amendment, the Company plans to continue negotiating the terms and conditions of the Credit Agreement with Bank of America, the administrative agent and collateral agent for the lenders, which could include further consents or waivers to provide a longer term solution to address covenants and available borrowings under the Credit Agreement. | spwr-20231208.htm |
| 2023-12-08 | 8-K | 2023-12-04 | 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | 5.02 On December 4, 2023, Jason MacRae notified SunPower Corporation (the “Company”) that he would resign as the Executive Vice President, Financial Products of the Company, effective as of December 5, 2023. | spwr-20231204.htm |
| 2023-11-27 | 8-K | 2023-11-22 | 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing; 8.01 Other Events | 3.01 As previously disclosed in the Notification of Late Filing on Form 12b-25 of SunPower Corporation, a Delaware corporation (the “Company”), filed with the Securities and Exchange Commission (the “SEC”) on November 13, 2023, the Company determined that it was unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q for the fiscal quarter ended October 1, 2023 (the “Form 10-Q”) by the prescribed due date as a result of the restatement of certain of the Company’s financial statements (the “Restatement”). 8.01 The Company and Bank of America, N.A., the administrative agent and collateral agent for the lenders (the “Agent”) under the Credit Agreement dated as of September 12, 2022 (as amended by the First Amendment, dated as of January 26, 2023, the “Credit Agreement”), among the Company, the subsidiaries party thereto, the Agent and the lenders party thereto are currently negotiating the terms and conditions of a consent and waiver, which is intended to address, including without limitation, the effects of the Restatement and failure to timely deliver the Form 10-Q to the lenders under the Credit Agreement. | spwr-20231122.htm |
| 2023-11-15 | 8-K | 2023-11-13 | 1.01 Entry into a Material Definitive Agreement; 1.02 Termination of a Material Definitive Agreement; 7.01 Regulation FD Disclosure | 1.01 Entry into a Material Definitive Agreement. 1.02 In connection with the entry into the Agreement, the Company and Maxeon agreed to terminate the Master Supply Agreement, dated December 31, 2022, by and between the Company and Maxeon (the “2024 MSA”), effective November 13, 2023. 7.01 On November 15, 2023, the Company and Maxeon issued a joint press release announcing the execution of the Agreement. | spwr-20231113.htm |
| 2023-11-01 | 8-K | 2023-10-30 | 2.02 Results of Operations and Financial Condition; 2.05 Costs Associated with Exit or Disposal Activities | 2.02 On November 1, 2023, SunPower Corporation, a Delaware corporation (the “Company”), issued a press release, included as Exhibit 99.1 hereto, announcing its preliminary results of operations for its third quarter ended October 1, 2023. 2.05 On October 30, 2023, the Company adopted a restructuring plan to align operating costs with current market conditions characterized by higher interest rates and slower consumer demand. | spwr-20231030.htm |
| 2023-10-24 | 8-K | 2023-10-18 | 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review; 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | 4.02 On October 19, 2023, the Audit Committee (the “Audit Committee”) of the Board of Directors (the “Board”) of SunPower Corporation (the “Company”), based upon the recommendation of management, determined that the Company’s (i) audited financial statements included in the Company’s Annual Report on Form 10-K for the period ended January 1, 2023, filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 10, 2023 (the “Form 10-K”), (ii) unaudited financial statements included in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended April 2, 2023, filed with the SEC on May 3, 2023 (the “Q1 2023 Form 10-Q”), and (iii) unaudited financial statements included in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended July 2, 2023, filed with the SEC on August 2, 2023 (the “Q2 2023 Form 10-Q,” and collectively, the “Affected Periods”), as well as the relevant portions of any communication which describe or are based on such financial statements, should no longer be relied upon. 5.02 On October 18, 2023, the Compensation Committee of the Board of the Company approved and adopted the Amended and Restated 2023 Management Career Transition Plan (the “Plan”). | spwr-20231018.htm |
| 2023-09-13 | 8-K | 2023-09-08 | 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | 5.02 On September 8, 2023, Vichheka Heang notified SunPower Corporation (the “Company”) of her intent to resign as the vice president, corporate controller, and principal accounting officer of the Company, effective October 15, 2023. | spwr-20230908.htm |
| 2023-08-01 | 8-K | 2023-08-01 | 2.02 Results of Operations and Financial Condition | 2.02 On August 1, 2023, SunPower Corporation, a Delaware corporation (the “Company”), issued a press release, included as Exhibit 99.1 hereto, announcing its results of operations for its second quarter ended July 2, 2023. | spwr-20230801.htm |
| 2023-07-26 | 8-K | 2023-07-24 | 2.02 Results of Operations and Financial Condition; 2.05 Costs Associated with Exit or Disposal Activities; 7.01 Regulation FD Disclosure | 2.02 On July 26, 2023, SunPower Corporation, a Delaware corporation (the “Company”), issued a press release, included as Exhibit 99.1 hereto, announcing its preliminary unaudited results of operations for its second quarter ended July 2, 2023 and providing an update regarding its fiscal 2023 guidance with respect to Residential Customers, Residential Adjusted EBITDA per Customer, Adjusted EBITDA, and Net Loss. 2.05 On July 24, 2023, the Company adopted a restructuring plan to align operating costs with current market conditions driven by slower sales partly due to higher interest rates. 7.01 The information furnished in Item 2.02 and Item 9.01 of this Current Report on Form 8-K and Exhibit 99.1 hereto is incorporated by reference into this Item 7.01 and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing. | spwr-20230724.htm |
| 2023-05-18 | 8-K | 2023-05-16 | 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | 5.02 On May 17, 2023, the Board of Directors (the “Board”) of SunPower Corporation, a Delaware corporation (the “Company”), appointed Audrey Zibelman as an independent member of the Board. | spwr-20230516.htm |
| 2023-05-15 | 8-K | 2023-05-11 | 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers; 5.07 Submission of Matters to a Vote of Security Holders; 7.01 Regulation FD Disclosure | 5.02 On May 15, 2023, SunPower Corporation (the “Company”) announced that Elizabeth Eby will join the Company as the Executive Vice President and Chief Financial Officer of the Company, effective as of May 30, 2023. 5.07 On May 11, 2023, the Company held its 2023 annual meeting of stockholders. 7.01 On May 15, 2023, the Company issued a press release, included as Exhibit 99.1 hereto, announcing Ms. Eby’s appointment. | spwr-20230511.htm |
| 2023-05-03 | 8-K | 2023-05-03 | 2.02 Results of Operations and Financial Condition | 2.02 On May 3, 2023, SunPower Corporation, a Delaware corporation (the “Company”), issued a press release, included as Exhibit 99.1 hereto, announcing its results of operations for its first quarter ended April 2, 2023. | spwr-20230503.htm |
| 2023-05-01 | 8-K | 2023-04-25 | 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers; 7.01 Regulation FD Disclosure | 5.02 On May 1, 2023, SunPower Corporation (the “Company”) announced that Jennifer Johnston will join the Company as the Executive Vice President and Chief Operating Officer of the Company, effective as of May 8, 2023. 7.01 On May 1, 2023, the Company issued a press release, included as Exhibit 99.1 hereto, announcing Ms. Johnston’s appointment. | spwr-20230425.htm |
| 2023-04-10 | 8-K | 2023-04-05 | 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | 5.02 On April 5, 2023, the Compensation Committee of the Board of Directors (the “Board”) of SunPower Corporation (the “Company”) adopted the SunPower Corporation 2023 Management Career Transition Plan (the “Plan”). | spwr-20230405.htm |
| 2023-03-23 | 8-K | 2023-03-20 | 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | 5.02 On March 20, 2023, Thomas McDaniel notified SunPower Corporation (the “Company”) of his intent to retire from the Board of Directors (the “Board”) of the Company. | spwr-20230320.htm |
| 2023-03-14 | 8-K | 2023-03-10 | 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers | 5.02 On March 10, 2023, the Board of Directors (the “Board”) of SunPower Corporation, a Delaware corporation (the “Company”), appointed Steven Louden as an independent member of the Board. | spwr-20230310.htm |
| 2023-02-15 | 8-K | 2023-02-15 | 2.02 Results of Operations and Financial Condition | 2.02 On February 15, 2023, SunPower Corporation, a Delaware corporation (the “Company”), issued a press release, included as Exhibit 99.1 hereto, announcing its results of operations for its fourth quarter and fiscal year ended January 1, 2023. | spwr-20230215.htm |
| 2023-01-31 | 8-K | 2023-01-26 | 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant | 1.01 Entry into a Material Definitive Agreement. 2.03 The discussion in Item 1.01 is incorporated herein by reference. | spwr-20230126.htm |
| 2023-01-05 | 8-K | 2023-01-01 | 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing | 3.01 As previously disclosed, on July 27, 2022, Catherine A. Lesjak notified SunPower Corporation (the “Company”) of her intent to resign from the Board of Directors (the “Board”) of the Company, effective on or before December 31, 2022. | spwr-20230101.htm |
| 2023-01-05 | 8-K | 2022-12-31 | 1.01 Entry into a Material Definitive Agreement; 7.01 Regulation FD Disclosure | 1.01 Entry into a Material Definitive Agreement. 7.01 On January 5, 2023, the Company and Maxeon issued a joint press release announcing the execution of the Amendment and the Master Supply Agreement. | spwr-20221231.htm |