IRVINE, Calif., Dec. 16, 2015 /PRNewswire/ -- Netlist, Inc.
(NASDAQ: NLST) today announced the appointment of Brian Peterson as Senior Vice President of Sales
and Marketing. In this role he will lead the company's
strategic sales and marketing initiatives.
Peterson brings 20 years of experience in managing sales,
marketing, finance, operations and business development across
global organizations. Most recently, he served as Vice President of
Sales and Business Development at Emulex Corporation, a global
leader in storage and network connectivity, where he focused on
Cloud, storage, and emerging business for the company.
Peterson also served in other senior positions at Emulex including
Vice President, International Operations, a role in which he opened
Emulex Ireland Corporation in Dublin in 2008 and was responsible for all
business activity in Europe,
Middle East and Africa.
Prior to that, he served in a variety of sales and business
development management roles at 3Com Corporation and US Robotics.
Peterson holds a bachelor's degree from the University of Utah and a MBA from Westminster College in Utah.
C.K. Hong, Netlist's President
and Chief Executive Officer said, "Brian's knowledge of the storage
and cloud computing marketplace and his track record with marketing
strategy and revenue growth at leading global technology firms make
him a key addition to our team. He will have a central role
in bringing our growing portfolio of innovative storage class
memory products to market."
Mr. Peterson commented, "I'm pleased to join Netlist at this
exciting time for the company to drive growth in current and future
product offerings. The need to analyze and manage the vast
amounts of data being generated in today's digital environments
continues to increase the demand for high speed storage and memory
architectures. The recently announced partnership between
Samsung and Netlist reinforces this need and for the development of
storage class memory solutions."
As an inducement to Mr. Peterson entering into employment with
Netlist, Netlist's Compensation Committee granted to Mr. Peterson
an option to purchase up to 400,000 shares of its common stock with
an exercise price of $0.80 per share,
which is equal to the closing sale price of Netlist's common stock
on the grant date of the option. The option has a term of ten
years and will generally be forfeited if not exercised before the
expiration of that term. 350,000 shares subject to the option
will vest over four years, with one quarter vesting on the
anniversary of the grant date and the remainder vesting in equal
quarterly installments thereafter subject to Mr. Peterson's
continued service with Netlist through such vesting date. 50,000
shares are tied to performance goals. The options will be
granted outside of Netlist's 2006 Equity Incentive Plan, but will
be subject to terms substantially similar to those of non-qualified
stock options granted under such plan. This description of
the inducement option grant to Mr. Peterson is in satisfaction of
the disclosure requirements set forth in NASDAQ Listing Rule
5635(c)(4).
About Netlist, Inc.
Netlist creates solutions that
accelerate turning data into information. We design and manufacture
controller and software-based memory solutions for our OEM and
Hyperscale customers in the server and storage space. Flagship
products NVvault® and EXPRESSvault™ accelerate system performance
and provide mission critical fault tolerance. HyperVault®,
Netlist's next-generation architecture, expands the performance and
capacity of memory channel storage. The company holds a portfolio
of patents, many seminal, in the area of hybrid memory, rank
multiplication and load-reduction, among others. To learn more,
visit www.netlist.com
Safe Harbor Statement:
This news release contains
forward-looking statements regarding future events and the future
performance of Netlist. These forward-looking statements involve
risks and uncertainties that could cause actual results to differ
materially from those expected or projected. These risks and
uncertainties include, but are not limited to, the launch and
commercial success of our products, programs and technologies; the
success of product partnerships; continuing development,
qualification and volume production of HyperVault™, EXPRESSvault™,
NVvault®, HyperCloud® and VLP Planar-X RDIMM; the timing and
magnitude of the decrease in sales to our key customer; our ability
to leverage our NVvault® and EXPRESSvault™ technology in a more
diverse customer base; the rapidly-changing nature of technology;
risks associated with intellectual property, including risks
associated with the inherent uncertainty of the litigation process,
patent infringement litigation against us as well as the costs and
unpredictability of litigation over infringement of our
intellectual property and the possibility of our patents being
reexamined by the United States Patent and Trademark office;
volatility in the pricing of DRAM ICs and NAND; changes in and
uncertainty of customer acceptance of, and demand for, our existing
products and products under development, including uncertainty of
and/or delays in product orders and product qualifications; delays
in the Company's and its customers' product releases and
development; introductions of new products by competitors; changes
in end-user demand for technology solutions; the Company's ability
to attract and retain skilled personnel; the Company's reliance on
suppliers of critical components and vendors in the supply chain;
fluctuations in the market price of critical components; evolving
industry standards; and the political and regulatory environment in
the People's Republic of China.
Other risks and uncertainties are described in the Company's annual
report on Form 10-K filed on March 27,
2015, and subsequent filings with the U.S. Securities and
Exchange Commission made by the Company from time to time. Except
as required by law, Netlist undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
For more information,
please contact:
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Investors:
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Press:
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Brainerd
Communicators, Inc.
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Brainerd
Communicators, Inc.
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Mike Smargiassi/Jenny
Perales
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Sharon
Oh
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NLST@braincomm.com
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NLST@braincomm.com
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(212)
986-6667
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(212)
986-6667
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SOURCE Netlist, Inc.