Luminar Technologies Inc. has announced new compensation terms for its recently appointed Chief Executive Officer, Paul Ricci. The company will grant a total of 2,109,546 equity awards, consisting of 1,289,167 restricted stock units (RSUs) and up to 820,379 performance stock units (PSUs), as an inducement for his acceptance of the role. The RSUs will vest semi-annually over three years, with certain units fully vested on the grant date, subject to terms including potential clawback. The PSUs are tied to company market capitalization milestones. The compensation package is part of an employment agreement dated May 26, 2025, and is in accordance with Nasdaq Listing Rule 5635(c)(4).
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