An update from Cepton ( (CPTN) ) is now available.
Cepton, Inc. is set to become an indirect subsidiary of KOITO MANUFACTURING CO., LTD. following a merger agreement. As part of the transition, new compensation terms for Cepton’s top executives have been approved, including annual salaries, retention bonuses equal to their base salaries for two fiscal years, potential discretionary bonuses, and long-term cash incentive awards with performance-based vesting. Additionally, substantial severance packages have been outlined should the executives be terminated under specific conditions post-merger. These arrangements underscore the company’s commitment to its leadership stability and strategic direction amidst the acquisition process.
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