Latest news with #Luminar
Globe and Mail
3 hours ago
- Business
- Globe and Mail
Luminar Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
As required by the rules of the Nasdaq Stock Market, Luminar Technologies, Inc. (NASDAQ: LAZR), a leading global automotive technology company ('Luminar'), today announced that it 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'), to Paul Ricci, Luminar's recently appointed Chief Executive Officer, as an inducement material to his acceptance of employment with Luminar. The employment inducement awards are being granted under Luminar's forms of restricted stock unit award agreement in accordance with Nasdaq Listing Rule 5635(c)(4). The 820,379 RSUs are subject to time-based vesting in equal installments on a semi-annual basis over a three-year period following the employment start date, subject to the executive's continued service with the Company through each vesting date. The remaining 468,788 RSUs are fully vested on the date of grant, and subject to clawback by Luminar if within 12 months following the employment start date, the Company terminates the executive's employment for 'cause' or he resigns without 'good reason.' The up to 820,379 PSUs are eligible to vest as to one-third of the award based on achievement of each of three performance goals, as set by the Compensation and Human Capital Management Committee of Luminar's Board of Directors, which require Company market capitalization appreciation over a trailing 90-day period subject to the executive's continued service with the Company through the date of certification of such achievement. Upon a termination of Mr. Ricci's employment by Luminar without 'cause' or his resignation for 'good reason,' including in connection with a change in control, any then-unvested RSUs and PSUs will be subject to certain accelerated vesting provisions. The equity awards are being granted to Mr. Ricci pursuant to the terms of his employment agreement, dated May 26, 2025. The awards are being granted outside of Luminar's Amended and Restated 2020 Equity Incentive Plan, but except as set forth in the applicable award agreement, will generally be subject to the same terms and conditions as apply to the applicable awards granted under the Amended and Restated 2020 Equity Incentive Plan. The Compensation and Human Capital Management Committee of Luminar's Board of Directors approved the employment inducement awards in reliance on the employment inducement exception to shareholder approval provided under Nasdaq Listing Rule 5635(c)(4). To comply with the terms of this exemption, the employment inducement awards require an immediate public announcement of the award and written notice to the Nasdaq Stock Market. About Luminar Luminar is a global automotive technology company ushering in a new era of vehicle safety and autonomy. For the past decade, Luminar has built an advanced hardware and software/AI platform to enable its various partners, ranging from Volvo Cars and Mercedes-Benz to NVIDIA and Mobileye, to develop and deploy the world's most advanced passenger vehicles. Following the launch of the Volvo EX90 as the first global production vehicle to standardize its technology, Luminar is poised to lead the industry in enabling next-generation safety and autonomous capabilities for global production vehicles. For more information, please visit
Business Wire
3 hours ago
- Business
- Business Wire
Luminar Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
ORLANDO, Fla.--(BUSINESS WIRE)--As required by the rules of the Nasdaq Stock Market, Luminar Technologies, Inc. (NASDAQ: LAZR), a leading global automotive technology company ('Luminar'), today announced that it 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'), to Paul Ricci, Luminar's recently appointed Chief Executive Officer, as an inducement material to his acceptance of employment with Luminar. The employment inducement awards are being granted under Luminar's forms of restricted stock unit award agreement in accordance with Nasdaq Listing Rule 5635(c)(4). The 820,379 RSUs are subject to time-based vesting in equal installments on a semi-annual basis over a three-year period following the employment start date, subject to the executive's continued service with the Company through each vesting date. The remaining 468,788 RSUs are fully vested on the date of grant, and subject to clawback by Luminar if within 12 months following the employment start date, the Company terminates the executive's employment for 'cause' or he resigns without 'good reason.' The up to 820,379 PSUs are eligible to vest as to one-third of the award based on achievement of each of three performance goals, as set by the Compensation and Human Capital Management Committee of Luminar's Board of Directors, which require Company market capitalization appreciation over a trailing 90-day period subject to the executive's continued service with the Company through the date of certification of such achievement. Upon a termination of Mr. Ricci's employment by Luminar without 'cause' or his resignation for 'good reason,' including in connection with a change in control, any then-unvested RSUs and PSUs will be subject to certain accelerated vesting provisions. The equity awards are being granted to Mr. Ricci pursuant to the terms of his employment agreement, dated May 26, 2025. The awards are being granted outside of Luminar's Amended and Restated 2020 Equity Incentive Plan, but except as set forth in the applicable award agreement, will generally be subject to the same terms and conditions as apply to the applicable awards granted under the Amended and Restated 2020 Equity Incentive Plan. The Compensation and Human Capital Management Committee of Luminar's Board of Directors approved the employment inducement awards in reliance on the employment inducement exception to shareholder approval provided under Nasdaq Listing Rule 5635(c)(4). To comply with the terms of this exemption, the employment inducement awards require an immediate public announcement of the award and written notice to the Nasdaq Stock Market. About Luminar Luminar is a global automotive technology company ushering in a new era of vehicle safety and autonomy. For the past decade, Luminar has built an advanced hardware and software/AI platform to enable its various partners, ranging from Volvo Cars and Mercedes-Benz to NVIDIA and Mobileye, to develop and deploy the world's most advanced passenger vehicles. Following the launch of the Volvo EX90 as the first global production vehicle to standardize its technology, Luminar is poised to lead the industry in enabling next-generation safety and autonomous capabilities for global production vehicles. For more information, please visit
Business Upturn
3 days ago
- Business
- Business Upturn
ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Encourages Luminar Technologies, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action
NEW YORK, July 26, 2025 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Luminar Technologies, Inc. (NASDAQ: LAZR) between March 20, 2025 and May 14, 2025, both dates inclusive (the 'Class Period'). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 22, 2025. SO WHAT: If you purchased Luminar securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. What to do next: To join the Luminar class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 22, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) Austin Russell ('Russell'), Luminar's President, CEO and Chairman of the Board, was engaged in undisclosed conduct that would make him the subject of an inquiry by the Audit Committee of the Board of Directors; (2) this conduct created material risk that Russell would be released form his positions at Luminar; (3) Luminar's loss of Russell as an employee would then create material risk of adversely affecting Luminar's business by making it more difficult to compete with other market participants, manage R&D activities, and retain existing customers or cultivate new ones. Further, negative public perception and negative news related to Russell could adversely affect Luminar's brand relationships with customers, or standing in the industry; (4) accordingly, Luminar had no reasonable basis to provide and/or maintain Luminar's financial guidance; and (5) as a result, defendants' public statements were materially false and/or misleading at all times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Luminar class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ——————————- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected]
Business Wire
4 days ago
- Business
- Business Wire
Rosen Law Firm Urges Luminar Technologies, Inc. (NASDAQ: LAZR) Stockholders with Large Losses to Contact the Firm for Information About Their Rights
NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action lawsuit on behalf of purchasers and acquirers of Luminar Technologies, Inc. (NASDAQ: LAZR) securities between March 20, 2025 and May 14, 2025, both dates inclusive (the 'Class Period'). Luminar purports to be a technology company that specializes in advanced 'Light Detection and Ranging' ('LiDAR') hardware and software solutions for vehicles. For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653. The Allegations: Rosen Law Firm is Investigating the Allegations that Luminar Technologies, Inc. (NASDAQ: LAZR) Misled Investors Regarding its Business Operations. According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) Austin Russell ('Russell'), Luminar's President, CEO and Chairman of the Board, was engaged in undisclosed conduct that would make him the subject of an inquiry by the Audit Committee of the Board of Directors; (2) this conduct created material risk that Russell would be released form his positions at Luminar; (3) Luminar's loss of Russell as an employee would then create material risk of adversely affecting Luminar's business by making it more difficult to compete with other market participants, manage R&D activities, and retain existing customers or cultivate new ones. Further, negative public perception and negative news related to Russell could adversely affect Luminar's brand relationships with customers, or standing in the industry; (4) accordingly, Luminar had no reasonable basis to provide and/or maintain Luminar's financial guidance; and (5) as a result, defendants' public statements were materially false and/or misleading at all times. When the true details entered the market, the lawsuit claims that investors suffered damages. What Now: You may be eligible to participate in the class action against Luminar Technologies, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by September 22, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome.
Business Wire
5 days ago
- Business
- Business Wire
LAZR Investors Have Opportunity to Lead Luminar Technologies, Inc. Securities Fraud Lawsuit with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Luminar Technologies, Inc. ('Luminar' or 'the Company') (NASDAQ: LAZR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between November 7, 2024 and July 8, 2025, inclusive (the 'Class Period'), are encouraged to contact the firm before September 22, 2025. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Luminar CEO and Chairman of the Board Austin Russell engaged in conduct that would result in an investigation performed by the Board of Directors' Audit Committee. The Company was at risk having Russell removed from his positions. The loss of Russell would create risk of adverse impacts on the Company's business practices such as retaining existing customers. The dismissal of Russell could also impact the Company's brand and reputation. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Luminar, investors suffered damages. Join the case to recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
