Core Points - Orion Energy Systems, Inc. announced the authorization of equity awards for Michael Ontrop, the new Senior Vice President of Channel Sales, including 100,000 shares of restricted stock and a non-qualified stock option for 125,000 shares of Common Stock [1][2] - The equity awards were approved by Orion's Board of Directors as a material inducement for Mr. Ontrop to accept the employment offer, and the shares will not be drawn from the 2016 Omnibus Incentive Plan [2] - The restricted stock award will vest one-third on each of the first three anniversaries of the grant date, contingent on Mr. Ontrop's continued employment [3] - The stock option will vest based on the Company's share price reaching specified levels ($3.00, $4.00, and $5.00) over a three-year period, with the effective grant date set for July 18, 2025 [4] Company Overview - Orion Energy Systems specializes in energy efficiency and clean tech solutions, including LED lighting, EV charging solutions, and maintenance services [5] - The company focuses on turnkey design-through-installation solutions for large national customers and projects through ESCO and distribution partners, aiming to help customers achieve business and environmental goals [5] - Orion is committed to operating responsibly and emphasizes sustainability and governance in its operations [6]