---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-114179"
form_type: "8-K"
ticker: "SPWR"
cik: "0001838987"
company_name: "SunPower Inc."
filed_at: "2025-11-24T23:59:59+00:00"
generated_at: "2026-05-16T17:21:47.941964+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SunPower receives Nasdaq deficiency notice for late Q3 filing; issues $2M convertible note to CEO

## Summary
- Nasdaq deficiency notice on Nov 19, 2025 for late Q3 10-Q; 60 days to submit compliance plan.
- Company expects to file Q3 10-Q during week of Nov 24, 2025.
- Issued $2M convertible note to trust of CEO Thurman J. Rodgers at 12% interest, matures July 1, 2029.
- Conversion rate of 626.9592 shares per $1,000 principal; up to 1,253,918 shares issuable.
- Note is unsecured; redeemable after July 5, 2026 if stock price meets thresholds.

## SEC filing metadata
- accession: 0001213900-25-114179
- form_type: 8-K
- ticker: SPWR
- cik: 0001838987
- company_name: SunPower Inc.
- filed_at: 2025-11-24T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1838987/000121390025114179/0001213900-25-114179-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1838987/000121390025114179/ea0266964-8k_sunpower.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-114179
- JSON: https://secwatch.observer/filing/0001213900-25-114179.json
- Plain text: https://secwatch.observer/filing/0001213900-25-114179.txt

## Source-grounded claims
- claim_id: 2ed9ebaf2efca818dc90fc7fb0680b0d929df907
  claim: SunPower Inc. incurred convertible notes of $2,000,000 with a trust controlled by Thurman J. Rodgers at 12% interest rate maturing July 1, 2029.
  evidence_excerpt: On November 20, 2025, SunPower Inc. (the "Company") issued a convertible promissory note in the original principal amount of $2,000,000 (the "Note") to a trust controlled by Thurman J. Rodgers, the Company’s Chief Executive Officer and Executive Chairman.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838987/000121390025114179/0001213900-25-114179-index.htm
- claim_id: 96bdb129854e6959fe76a270a756fae7b99b4d57
  claim: SunPower Inc. received a nasdaq deficiency notice notice regarding late filing (rules 5250(c)(1)).
  evidence_excerpt: November 19, 2025, the Company received an expected letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, as a result of the Company’s delay in filing its Quarterly Report on Form 10-Q for the quarter ended September 28, 2025 (the “Q3 Form 10-Q”), the Company was not in compliance with the timely filing requirements for continued listing under Nasdaq Listing Rule 5250(c)(1). The Nasdaq letter has no immediate effect on the listing or trading of the Company’s common stock or warrants. The Company’s Form 12b-25 notice (the “Form 12b-25”) filed wi
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838987/000121390025114179/0001213900-25-114179-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.