Complete Solaria Announces Director Changes and Compensation Adjustments

TL;DR

Solaria's board is shuffling, exec pay is changing. Keep an eye on governance.

AI Summary

Complete Solaria, Inc. announced on October 10, 2024, changes related to its board of directors and executive compensation. The filing indicates the departure of certain directors and the election of new ones, alongside adjustments to compensatory arrangements for key officers. This report is filed under Item 5.02 and Item 5.07 of the 8-K form.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy, governance, or financial outlook, impacting investor confidence and stock performance.

Risk Assessment

Risk Level: medium — Changes in board and executive compensation can indicate internal shifts that may affect future performance or strategy.

Key Players & Entities

• Complete Solaria, Inc. (company) — Registrant
• October 10, 2024 (date) — Earliest event reported
• Freedom Acquisition I Corp. (company) — Former company name

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share CSLR The Nasdaq Global Ma
• $11.50 — of Common Stock at an exercise price of $11.50 per share CSLRW The Nasdaq Capital
• $400,000 — ey will be entitled to a base salary of $400,000 per year, and he will be eligible for a

Filing Documents

• ea0217759-8k_complete.htm (8-K) — 32KB
• ea021775901ex10-1_complete.htm (EX-10.1) — 35KB
• 0001213900-24-088191.txt ( ) — 297KB
• cslr-20241010.xsd (EX-101.SCH) — 4KB
• cslr-20241010_def.xml (EX-101.DEF) — 26KB
• cslr-20241010_lab.xml (EX-101.LAB) — 36KB
• cslr-20241010_pre.xml (EX-101.PRE) — 25KB
• ea0217759-8k_complete_htm.xml (XML) — 6KB

02 Departure of Directors or Certain Officers; Election of

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On October 10, 2024, Complete Solaria, Inc. (the " Company ") entered into an employment letter with Daniel Foley, the Company's Chief Financial Officer (the " Employment Agreement "). Pursuant to the Employment Agreement, Mr. Foley will be entitled to a base salary of $400,000 per year, and he will be eligible for an annual bonus of 50% of his gross salary. Mr. Foley will be granted 250,000 restricted stock units (" RSUs "). Twenty percent of the RSUs will vest after one year, and the remaining 80% of the RSUs will vest in monthly installments over the remaining four years of the vesting schedule, in each case subject to Mr. Foley's continued employment with the Company. The Employment Agreement also provides that if Mr. Foley's employment is terminated for any reason other than cause (as defined in the Employment Agreement), death or disability, or if he resigns for good reason (as defined in the Employment Agreement), and provided that in either case such termination constitutes a separation from service (as defined in the Employment Agreement), then subject to Mr. Foley executing a release agreement in the Company's favor, and continuing to comply with all of his obligations to the Company and its affiliates, Mr. Foley will receive the following benefits: (a) an amount equal to six months of his then-current base salary, less applicable withholdings, paid over a six-month period; and (b) COBRA premiums until the earliest of the six-month period following termination of his employment, expiration of his eligibility for COBRA coverage, or the date that he becomes eligible for substantially equivalent health insurance coverage in connection with new employment. The foregoing description of the Employment Agreement does not purport to be

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 10.1 Employment Agreement, dated October 10, 2024, between Complete Solaria, Inc. and Daniel Foley 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1

SIGNATURES

SIGNATURES 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. Complete Solaria, Inc. Dated: October 16, 2024 By: /s/ Thurman J. Rodgers Thurman J. Rodgers Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR