CY » Topics » No Acceleration of Options

This excerpt taken from the CY 8-K filed Aug 14, 2008.

No Acceleration of Options

On August 7, 2008, Cypress filed a Current Report on Form 8-K with the Securities and Exchange Commission in which, among other things, it disclosed certain actions taken by Cypress’s board of directors in anticipation of Cypress’ proposed tax-free distribution of shares of Class B common stock of SunPower owned by it. In response to investor questions concerning that report, Cypress is clarifying that its board of directors has not approved the acceleration of vesting for any employee or director equity awards in connection with the proposed distribution of the SunPower shares.

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