Thomas Beaudoin
Luminar Technologies, Inc./DEAbout Thomas Beaudoin
Thomas Beaudoin, age 71, was appointed Chief Financial Officer of Luminar Technologies (LAZR) effective November 13, 2025. He holds a B.S.B.A. and an M.B.A. from Babson College and brings four decades of finance and transformation leadership across public and private technology companies, including CFO roles at Cerence, Nuance, SimpliVity, Polaroid, and Parametric Technology, plus 24 years in senior finance roles at Digital Equipment/Compaq (now HP) . His tenure begins amid Luminar’s strategic review and capital structure forbearance; Q3’25 revenue was $18.7M, up 21% YoY and 20% QoQ, with cash and marketable securities of $74.0M at quarter-end . Company context relevant to pay-for-performance: 2024 cumulative TSR (from a fixed $100 base) was $2.12 and net loss was $273.1M .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Cerence Inc. | Chief Financial Officer | May 2022 – Apr 2024 | Finance leadership in automotive software |
| Qualifacts Systems Inc. / Credible Inc. | Chief Transformation Officer | Apr 2021 – Apr 2022 | Operational and transformation leadership |
| Nuance Communications, Inc. | EVP, Business Transformation | 2017 – 2020 | Transformation of operations and processes |
| SimpliVity Corp. (now HPE SimpliVity) | Chief Financial Officer | 2015 – 2017 | Finance leadership in infrastructure software |
| Nuance Communications, Inc. | EVP & Chief Financial Officer | 2008 – 2015 | Strategic and financial leadership in AI/conversational tech |
| Polaroid Corporation | President & Chief Financial Officer | Not disclosed | Senior executive finance leadership |
| Parametric Technology Corporation | SVP & Chief Financial Officer | Not disclosed | Senior executive finance leadership |
| Digital Equipment / Compaq (now HP) | Senior Finance Positions | 24 years | Long-tenured finance leadership in computing |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Not disclosed in filings | — | — | No public company directorships disclosed in appointment 8‑K |
Fixed Compensation
| Component | Terms | Notes |
|---|---|---|
| Base Salary | $400,000 gross annual rate, paid per standard payroll procedures | Subject to review/adjustment; at‑will employment |
| Cash Retention (KERP) | Eligible for a $400,000 cash retention program, subject to definitive documentation | Designed as retention during strategic review/forbearance |
| Benefits | Eligible for Company employee benefit plans on terms at least as favorable as similarly situated employees | Standard benefit eligibility |
| Business Expenses | Reimbursement for necessary and reasonable business expenses per policy | Documentation required |
| Clawback Policy | Subject to Company’s Amended and Restated Clawback Policy | Compliance required |
| Tax Gross‑Ups (Equity Plan) | No tax gross‑ups under the Amended 2020 Equity Incentive Plan | Plan best practices |
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Equity Incentive Eligibility | Company’s equity‑based incentive program (new) | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Cash Retention (KERP) | Retention (service‑based) | n/a | n/a | n/a | $400,000 eligibility | n/a |
No specific annual bonus %, PSU/RSU grant counts, strike prices, or equity vesting schedules for Beaudoin were disclosed in the Nov 13, 2025 8‑K. Equity metrics and vesting should appear in future proxies or 8‑Ks if/when grants are issued .
Equity Ownership & Alignment
| Item | Status |
|---|---|
| Beneficial ownership (shares) | Not disclosed; no initial equity grant noted in the appointment 8‑K |
| Vested vs. unvested breakdown | Not disclosed |
| Options (exercisable vs. unexercisable) | Not disclosed |
| Shares pledged as collateral | Company policy prohibits pledging/margin accounts, with limited exceptions only if granted; hedging prohibited |
| Hedging policy | Hedging transactions prohibited for directors, officers, employees |
| Ownership guidelines | Not disclosed for executives in the cited materials |
Employment Terms
| Term | Detail |
|---|---|
| Employment Start | November 13, 2025 |
| Employment Type | At‑will; either party may terminate at any time with/without cause or notice |
| Work Location | Permitted to work remotely from residence; travel to company offices as needed |
| Reporting Line | Reports to CEO (or designee) |
| Severance (Covered Termination) | If terminated by Company other than for Cause/death/disability, or resigns for Good Reason: 12 months of base salary paid semi‑monthly; COBRA premium reimbursement for up to 12 months (or earlier upon coverage/eligibility end); subject to executing a release by the 60th day post‑termination (409A timing applies) |
| Good Reason (definition) | Material reduction in title/duties; material salary reduction (>10% beyond broad cuts); material relocation (>50 miles); material breach; with notice/cure period |
| Non‑Compete | 12 months; Restricted Territory includes U.S. and any country where Luminar conducted business in last 24 months; limits engagement in “Restricted Business” except passive <2% public holdings; permitted employment if not engaging in Restricted Business or using Confidential Information |
| Employee Non‑Solicit | 12 months; prohibits soliciting Luminar employees/contractors (general, non‑targeted solicitation permitted) |
| Customer Non‑Solicit | 12 months; prohibits soliciting clients/customers/suppliers with whom there was material contact or knowledge |
| Confidentiality & IP | Comprehensive confidentiality, invention assignment, trade secret protection, third‑party info protections, DTSA notice |
| Arbitration | JAMS Employment Arbitration Rules; individual claims only (Class Waiver); FAA governs |
| Golden Parachute (280G) | Excise tax cutback to “Reduced Amount” per Accounting Firm determinations |
Investment Implications
- Alignment and retention: Fixed pay is modest ($400k base) with an additional $400k retention eligibility, signaling retention emphasis during Luminar’s strategic review and forbearance period; severance is 1x base plus COBRA—no enhanced change‑of‑control economics disclosed for Beaudoin, suggesting moderate shareholder‑friendly posture .
- Equity incentives: No initial equity grant or PSU/RSU metrics disclosed; watch for near‑term 8‑Ks or the 2026 proxy to assess pay‑for‑performance alignment (metrics, vesting, and equity mix), and whether equity awards include performance gates tied to liquidity or operating milestones given current capital negotiations .
- Trading signals: CFO appointment coincides with forbearance agreements and an active strategic alternatives process; Beaudoin’s transformation background (Nuance/Cerence) is consistent with the company’s stated focus on liquidity solutions and potential asset/company sale paths. Monitor for forbearance extensions, capital raises, or restructuring outcomes, as well as any compensation changes reflecting revised strategic direction .
- Risk controls: Strict insider hedging/pledging prohibitions reduce misalignment risk; non‑compete/non‑solicit and strong confidentiality/IP provisions protect human capital and IP during restructuring—positive for franchise value preservation .