Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
SunPower Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Class A Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
867652109
---------
(CUSIP Number)
December 31, 2006
-----------------
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 12
- ------------------- ------------------
CUSIP No. 867652109 13G Page 2 of 12 Pages
- ------------------- ------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Advisors, LLC
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 1,260 (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,260 (see Item 4)
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,260 (see Item 4)
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 0.01% (see Item 4)
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 2 of 12
- ------------------- ------------------
CUSIP No. 867652109 13G Page 3 of 12 Pages
- ------------------- ------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Management, LLC
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 1,260 (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,260 (see Item 4)
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,260 (see Item 4)
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 0.01% (see Item 4)
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 3 of 12
- ------------------- ------------------
CUSIP No. 867652109 13G Page 4 of 12 Pages
- ------------------- ------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Associates, LLC
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Anguilla, British West Indies
- --------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 0 (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0 (see Item 4)
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (see Item 4)
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0% (see Item 4)
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 4 of 12
- ------------------- ------------------
CUSIP No. 867652109 13G Page 5 of 12 Pages
- ------------------- ------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CR Intrinsic Investors, LLC
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 0 (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0 (see Item 4)
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (see Item 4)
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0% (see Item 4)
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 5 of 12
- ------------------- ------------------
CUSIP No. 867652109 13G Page 6 of 12 Pages
- ------------------- ------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CR Intrinsic Investments, LLC
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Anguilla, British West Indies
- --------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 0 (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0 (see Item 4)
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (see Item 4)
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0% (see Item 4)
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 6 of 12
- ------------------- ------------------
CUSIP No. 867652109 13G Page 7 of 12 Pages
- ------------------- ------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steven A. Cohen
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 1,260 (see Item 4)
BY ----- -------------------------------------------
---------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,260 (see Item 4)
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,260 (see Item 4)
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 0.01% (see Item 4)
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 7 of 12
Item 1(a) Name of Issuer:
--------------
SunPower Corporation
Item 1(b) Address of Issuer's Principal Executive Offices:
-----------------------------------------------
3939 North First Street
San Jose, California 95134
Items 2(a) Name of Person Filing:
---------------------
This statement is filed by: (i) S.A.C. Capital Advisors,
LLC, ("SAC Capital Advisors") with respect to shares of
Class A common stock ("Shares"), of the Issuer beneficially
owned by S.A.C. Capital Associates, LLC ("SAC Capital
Associates"), S.A.C. MultiQuant Fund, LLC ("SAC MultiQuant")
and CR Intrinsic Investments, LLC ("CR Intrinsic
Investments"); (ii) S.A.C. Capital Management, LLC, ("SAC
Capital Management") with respect to Shares beneficially
owned by SAC Capital Associates, SAC MultiQuant and CR
Intrinsic Investments; (iii) SAC Capital Associates with
respect to Shares beneficially owned by it and CR Intrinsic
Investments; (iv) CR Intrinsic Investors, LLC ("CR Intrinsic
Investors") with respect to Shares beneficially owned by CR
Intrinsic Investments; (v) CR Intrinsic Investments with
respect to Shares beneficially owned by it; and (vi) Steven
A. Cohen with respect to Shares beneficially owned by SAC
Capital Advisors, SAC Capital Management, SAC Capital
Associates, SAC MultiQuant, CR Intrinsic Investors and CR
Intrinsic Investments.
SAC Capital Advisors, SAC Capital Management, SAC Capital
Associates, CR Intrinsic Investors, CR Intrinsic Investments
and Steven A. Cohen have entered into a Joint Filing
Agreement, a copy of which is filed with this Schedule 13G
as Exhibit 99.1, pursuant to which they have agreed to file
this Schedule 13G jointly in accordance with the provisions
of Rule 13d-1(k) of the Securities Exchange Act of 1934, as
amended.
Item 2(b) Address of Principal Business Office:
------------------------------------
The address of the principal business office of (i) SAC
Capital Advisors, CR Intrinsic Investors and Mr. Cohen is 72
Cummings Point Road, Stamford, Connecticut 06902, (ii) SAC
Capital Management is 540 Madison Avenue, New York, New York
10022, (iii) SAC Capital Associates is P.O. Box 58, Victoria
House, The Valley, Anguilla, British West Indies and (iv) CR
Intrinsic Investments is Box 174, Mitchell House, The
Valley, Anguilla, BWI.
Page 8 of 12
Item 2(c) Citizenship:
-----------
SAC Capital Advisors, SAC Capital Management and CR
Intrinsic Investors are Delaware limited liability
companies. SAC Capital Associates and CR Intrinsic
Investments are Anguillan limited liability companies. Mr.
Cohen is a United States citizen.
Item 2(d) Title of Class of Securities:
----------------------------
Class A Common Stock
Item 2(e) CUSIP Number:
------------
867652109
Item 3 Not Applicable
Item 4 Ownership:
---------
The percentages used herein are calculated based upon the
Shares of Class A common stock issued and outstanding as of
November 9, 2006 as reported on the Issuer's quarterly
report on Form 10-Q filed with the Securities and Exchange
Commission by the Issuer for the quarterly period ended on
October 1, 2006.
As of the close of business on December 31, 2006:
1. S.A.C. Capital Advisors, LLC
(a) Amount beneficially owned: 1,260
(b) Percent of class: Less than 0.01%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,260
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
1,260
2. S.A.C. Capital Management, LLC
(a) Amount beneficially owned: 1,260
(b) Percent of class: Less than 0.01%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,260
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
1,260
3. S.A.C. Capital Associates, LLC
(a) Amount beneficially owned: -0-
(b) Percent of class: 0%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: -0-
(iii) Sole power to dispose or direct the disposition: -0-
Page 9 of 12
(iv) Shared power to dispose or direct the disposition: -0-
4. CR Intrinsic Investors, LLC
(a) Amount beneficially owned: -0-
(b) Percent of class: 0%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: -0-
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: -0-
5. CR Intrinsic Investments, LLC
(a) Amount beneficially owned: -0-
(b) Percent of class: 0%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: -0-
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: -0-
6.Steven A. Cohen
(a) Amount beneficially owned: 1,260
(b) Percent of class: Less than 0.01%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,260
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
1,260
SAC Capital Advisors, SAC Capital Management, CR Intrinsic
Investors and Mr. Cohen own directly no Shares. Pursuant to
investment agreements, each of SAC Capital Advisors and SAC
Capital Management share investment and voting power with
respect to the securities held by SAC Capital Associates,
SAC MultiQuant and CR Intrinsic Investments. Pursuant to an
investment management agreement, CR Intrinsic Investors has
investment and voting power with respect to the securities
held by CR Intrinsic Investments. Mr. Cohen controls each of
SAC Capital Advisors, SAC Capital Management and CR
Intrinsic Investors. CR Intrinsic Investments is a wholly
owned subsidiary of SAC Capital Associates. By reason of the
provisions of Rule 13d-3 of the Securities Exchange Act of
1934, as amended, each of SAC Capital Advisors, SAC Capital
Management and Mr. Cohen may be deemed to own beneficially
1,260 Shares (constituting less than 0.01% of the Shares
outstanding). Each of SAC Capital Advisors, SAC Capital
Management, CR Intrinsic Investors and Mr. Cohen disclaim
beneficial ownership of any of the securities covered by
this statement, and SAC Associates disclaims beneficial
ownership of any of the securities held by CR Intrinsic
Investments.
Page 10 of 12
Item 5 Ownership of Five Percent or Less of a Class:
--------------------------------------------
If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following. [X]
Item 6 Ownership of More than Five Percent on Behalf of Another
--------------------------------------------------------
Person:
------
Not Applicable
Item 7 Identification and Classification of the
----------------------------------------
Subsidiary Which Acquired the Security Being
--------------------------------------------
Reported on By the Parent Holding Company:
-----------------------------------------
Not Applicable
Item 8 Identification and Classification of Members
--------------------------------------------
of the Group:
------------
Not Applicable
Item 9 Notice of Dissolution of Group:
------------------------------
Not Applicable
Item 10 Certification:
-------------
By signing below the signatory certifies that, to the best of his knowledge
and belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.
Page 11 of 12
SIGNATURE
---------
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 14, 2007
S.A.C. CAPITAL ADVISORS, LLC
By: /s/ Peter Nussbaum
---------------------------
Name: Peter Nussbaum
Title: Authorized Person
S.A.C. CAPITAL MANAGEMENT, LLC
By: /s/ Peter Nussbaum
---------------------------
Name: Peter Nussbaum
Title: Authorized Person
S.A.C. CAPITAL ASSOCIATES, LLC
By: /s/ Peter Nussbaum
---------------------------
Name: Peter Nussbaum
Title: Authorized Person
CR INTRINSIC INVESTORS, LLC
By: /s/ Peter Nussbaum
---------------------------
Name: Peter Nussbaum
Title: Authorized Person
CR INTRINSIC INVESTMENTS, LLC
By: /s/ Peter Nussbaum
---------------------------
Name: Peter Nussbaum
Title: Authorized Person
STEVEN A. COHEN
By: /s/ Peter Nussbaum
---------------------------
Name: Peter Nussbaum
Title: Authorized Person
Page 12 of 12