Form 8-K - Current report
July 05 2024 - 3:05PM
Edgar (US Regulatory)
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0001838987
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2024-06-30
2024-06-30
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2024-06-30
2024-06-30
0001838987
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2024-06-30
2024-06-30
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): June 30, 2024
Complete Solaria, Inc.
(Exact name of registrant as specified
in its charter)
Delaware |
|
001-40117 |
|
93-2279786 |
(State or other jurisdiction |
|
(Commission File Number) |
|
(IRS
Employer |
of incorporation) |
|
|
|
Identification No.) |
45700 Northport Loop East, Fremont, CA |
|
94538 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone
number, including area code: (510) 270-2507
Not Applicable
(Former Name or Former Address, if Changed
Since Last Report)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
☐ | 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(s) |
|
Name of each exchange on which registered |
Common
Stock, par value $0.0001 per share |
|
CSLR |
|
The Nasdaq
Capital Market |
Warrants,
each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share |
|
CSLRW |
|
The Nasdaq
Capital Market |
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.
Item 5.02 Appointment
of Certain Officers; Election of Directors; Departure of Directors or Certain Officers; Compensatory Arrangements of Certain Officers.
Effective August 16, 2024, Chief Operating Officer
Brian Wuebbels has resigned from Complete Solaria, Inc. (the “Company”). On June
30, 2024, the Company entered into an employment extension agreement (the “Agreement”)
with Mr. Wuebbels. Pursuant to the Agreement, Mr. Wuebbels’ current health benefits will continue through August 31, 2024, and Mr.
Wuebbels will receive accelerated vesting of 208,115 of the 750,000 options that he was granted in April 2024.
The foregoing description of the Agreement
does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed
as exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
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: July 5, 2024 |
By: |
/s/ Thurman J. Rodgers |
|
|
Thurman J. Rodgers |
|
|
Chief Executive Officer |
2
Exhibit 10.1
June 30, 2024
Brian Wuebbels - bwuebbels@completesolar.com
1019 13th
Street
Highland, IL 62249
Dear Brian,
You have rescinded and canceled your resignation letter, dated
June 24, 2024. You hereby acknowledge that the resignation letter is void and was of no force or effect.
To ensure continuity and accurate release of the CSLR
Q2 10Q financial statement, you and Complete Solaria have agreed to continue your employment through August 16, 2024.
The following employment extension terms will be provided,
subject to Board approval, and take effect on July 5, 2024:
1. | Continuation of your current salary and existing employment
benefit coverage through August 16, 2024, and health benefits will continue through August 31, 2024. |
2. | Subject to Board approval and your continued employment with
the Company through August 16, 2024, accelerated vesting 27.8% of the 750,000 shares granted to you on May 2, 2024, based on the following
prorated offer calculation: |
Vesting Information | |
Vesting Date | |
No. of Shares | | |
Number of Days from 6/24/2024 | |
CEO Offer Letter Vesting Date | |
1/1/2025 | |
| 1,129,636 | | |
| 191.00 | |
COO Offer Letter Grant | |
4/24/2024 | |
| 750,000 | | |
| 61.00 | |
*Newly Proposed Vesting Date | |
8/16/2024 | |
| 208,115 | | |
| 53.00 | |
* | Based on prorated extension of COO Offer Shares = 27.8% or
53/191 * 750,000 |
Your remaining 379,676 grant options will be terminated effective
August 16, 2024.
3. | Nomination to the CSLR Board of Directors and 94,452 options
as compensation for the Board seat, if approved by the Board. |
4. | These terms will amend the terms of the existing terms of
your employment agreement with the Company and all other terms will remain in effect. |
Best regards,
T.J. Rodgers
Executive Chairman and CEO
Linda M. DeJulio VP,
Quality and HR
Brian Wuebbels
Chief Operations Officer
Date of Employment Extension Offer Acceptance:
v3.24.2
Cover
|
Jun. 30, 2024 |
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Jun. 30, 2024
|
Entity File Number |
001-40117
|
Entity Registrant Name |
Complete Solaria, Inc.
|
Entity Central Index Key |
0001838987
|
Entity Tax Identification Number |
93-2279786
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
45700 Northport Loop East
|
Entity Address, City or Town |
Fremont
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
94538
|
City Area Code |
510
|
Local Phone Number |
270-2507
|
Written Communications |
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Soliciting Material |
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Pre-commencement Tender Offer |
false
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Pre-commencement Issuer Tender Offer |
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Entity Emerging Growth Company |
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|
Elected Not To Use the Extended Transition Period |
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|
Common Stock, par value $0.0001 per share |
|
Title of 12(b) Security |
Common
Stock, par value $0.0001 per share
|
Trading Symbol |
CSLR
|
Security Exchange Name |
NASDAQ
|
Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share |
|
Title of 12(b) Security |
Warrants,
each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share
|
Trading Symbol |
CSLRW
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Security Exchange Name |
NASDAQ
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