Luminar extends forbearance on missed interest payments, grants retention bonuses to CEO and CFO

Luminar Technologies, Inc./DE

Entered fifth forbearance with noteholders owning ~94.5% of 1L notes and ~89% of 2L notes, extending forbearance to Dec 10–14, 2025.
CEO Paul Ricci received $850,000 retention bonus and CFO Thomas Beaudoin received $400,000, subject to clawback and vesting.
Retention awards fully vest on Dec 2, 2026, upon a sale or restructuring, or qualified termination, replacing 2024/2025 bonuses.
Company defaulted on Oct 15 and Nov 15 interest payments; forbearance agreements restrict asset sales and maintain minimum $25M liquidity.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Luminar Technologies, Inc./DE entered into Fifth Forbearance Agreements with Extending Noteholders valued at forbearance period extended to December 10, 2025, with ability to extend further through December 14 (effective 2025-12-07).

Action: entry
Agreement: credit facility
Counterparty: Extending Noteholders
Value: forbearance period extended to December 10, 2025, with ability to extend further through December 14
Effective: 2025-12-07

Exact text from the filing

On December 7, 2025, the Company and the Extending Noteholders entered into new forbearance agreements (the “ Fifth Forbearance Agreements ”) in connection with which the Extending Noteholders agreed to forbear from exercising rights and remedies with respect to the failure to make the October 15 Interest Payments and the November 15 Interest Payments, as applicable, and otherwise extend the Extended Forbearance Period with respect to the 1L Notes and 2L Notes to December 10, 2025, with the ability to extend further through December 14, 2025 (the “ Additional Forbearance Period ”).

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Source: SEC EDGAR

accession 0001140361-25-044719

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