Luminar Technologies Inc.

11/15/2024 | Press release | Distributed by Public on 11/15/2024 15:25

Material Event Form 8 K

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) On November 13, 2024, the Board of Directors (the "Board") of Luminar Technologies, Inc. (the "Company" or "Luminar") elected Dominick Schiano to the Board to fill the vacancy created by an increase in the size of the Board from eight to nine members, as approved by the Board. Mr. Schiano will serve as a Class III director with an initial term to expire at the annual meeting of stockholders to be held in 2026 and will serve as a member of the Audit Committee of the Board.
Mr. Schiano is known for his expertise helping companies refocus their business units and for driving positive change. He is also an accomplished dealmaker. Mr. Schiano founded Evergreen Capital Partners LLC to provide strategic, operational, and financial guidance to private equity firms and their portfolio companies. Prior to that, he served in a number of director and executive roles in the automotive industry, including at Textron Automotive and TRW, Inc. Mr. Schiano attended Long Island University, majoring in Finance, the University of Pennsylvania - Wharton School Management Development Program, and the Northwestern University - Kellogg School Mergers and Acquisitions Program.
Mr. Schiano does not have any family relationships with any of Luminar's directors or executive officers and is not a party to any transactions of the type required to be disclosed under Item 404(a) of Regulation S-K. There are no arrangements or understandings between Mr. Schiano and any other person pursuant to which he was or is to be selected as a director.
Mr. Schiano will receive cash and equity compensation in accordance with Luminar's Director Compensation Policy for non-employee directors. Mr. Schiano also is expected to enter into an indemnification agreement with Luminar consistent with the form agreement executed with each of Luminar's current directors.