SunPower held its Annual Meeting on May 29 where all 12 proposals, including re-election of Board members and approval of employee stock plan, were approved with over 95% votes.
Chairman and CEO, T.J. Rodgers thanked shareholders for their support in approving the stockholder plan proposal with a 96% vote, enabling growth and future acquisitions for the company.
Rodgers mentioned that the company is well-prepared for the ITC phase-out and doesn't foresee any revenue drop that could lead to financial issues for the rest of the year.
Following the meeting, SunPower's shares closed at $1.26 on Thursday.