A former Vivint Solar Inc. in-house lawyer won almost $300,000 in damages from the company, after a Delaware court found it breached agreements concerning his vested stock options and restricted stock units.
Jim Lundberg discovered his equity incentive awards had been canceled after he left the Utah-based solar electricity provider in 2016 to become a deputy general counsel at Vivint Smart Home Inc., a home automation company that makes smart video doorbells. Vivint formed Solar in 2011 as a standalone company, and until 2020 they shared a parent company.
Solar breached Lundberg’s incentive plan by canceling his awards even though ...
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