Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 31, 2021, the Board of Directors (the "Board") of SunPower
Corporation, a Delaware corporation (the "Company"), appointed Vinayak Hegde as
an independent member of the Board. Mr. Hegde fills the vacancy on the Board due
to the previously planned and disclosed resignation of Thomas H. Werner on
November 1, 2021. Mr. Hegde serves as a Class III director, with a term expiring
at the Company's annual meeting of stockholders to be held in 2023.
Mr. Hegde has served as president of Wheels Up since October 2021, after joining
the company in May 2021 as its chief marketplace officer. He oversees strategy
and execution of initiatives across all aspects of Wheels Up, including revenue
accountability, product strategy, technology development, business strategy,
sales and member experience, and operations. From July 2020 through March 2021,
Mr. Hegde served as president and chief operating officer of Blink Health. From
September 2018 to July 2020, he served as chief marketing officer of Airbnb
Homes, where he was responsible for the growth and marketing of its global
business. Mr. Hegde served as global chief marketing officer of Groupon from
October 2014 to September 2018, managing marketing, national sales, and revenue
management, and as vice president of computational and growth marketing from
February 2012 to October 2014. Prior to Groupon, Mr. Hegde spent twelve years
with Amazon in a variety of management roles. Mr. Hegde serves as a member of
the board of directors of Gannett Co., Inc. He holds a Bachelor of Engineering
from National Institute of Technology in Karnataka, India.
There are no arrangements or understandings between Mr. Hegde and any other
persons pursuant to which Mr. Hegde was appointed a director of the Company. Mr.
Hegde has no direct or indirect material interest in any transaction or proposed
transaction required to be reported under Item 404(a) of Regulation S-K.
Mr. Hegde will receive compensation for his service as a director consistent
with the Company's current policies for compensation of non-employee directors.
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