NeoPhotonics Announces Inducement Grants under NYSE Rule 303A.08
April 05 2018 - 4:07PM
Business Wire
NeoPhotonics Corporation (NYSE: NPTN), today announced that
the Compensation Committee of NeoPhotonics' Board of Directors
granted inducement awards to Yang Chiah Yee in connection with his
employment as NeoPhotonics' Senior Vice President of Global
Sales.
On March 22, 2018, the Compensation Committee granted Mr. Yee an
option as an inducement award under the NeoPhotonics 2011
Inducement Award Plan to purchase 83,200 shares of the Company's
common stock, with a per share exercise price equal to $6.51, the
closing price of the Common Stock on the NYSE on the grant date.
This option will vest over four years, with 25% of the underlying
shares vesting on the one year anniversary of Mr. Yee's start date
and an additional 1/48th of the underlying shares vesting monthly
thereafter, subject to his continuous service through each vesting
date. In addition, on March 22, 2018, the Compensation Committee
granted Mr. Yee a restricted stock unit award as an inducement
award under the 2011 Inducement Award Plan to purchase 99,800
shares of common stock. The RSU will vest over four years, with 25%
of the shares vesting on the one year anniversary of Mr. Yee's
start date and 1/4th of the underlying shares vesting on each
anniversary of Mr. Yee’s employment start date thereafter, subject
to Mr. Yee’s continued service. The Compensation Committee of
NeoPhotonics’ Board of Directors granted these awards as a material
inducement to Mr. Yee’s employment in accordance with NYSE Rule
303A.08.
The NeoPhotonics Board of Directors approved the 2011 Inducement
Award Plan based on the employment inducement exemption provided
under the NYSE listing standards. As a result, the 2011
Inducement Award Plan did not require shareholder approval, and
this press release is being issued pursuant to
applicable NYSE guidance.
About NeoPhotonics
NeoPhotonics is a leading designer and manufacturer of
hybrid photonic integrated optoelectronic modules and subsystems
for bandwidth-intensive, high-speed communications networks. The
Company's products enable cost-effective, high-speed data
transmission and efficient allocation of bandwidth over
communications networks. NeoPhotonics maintains
headquarters in San Jose, California and ISO 9001:2000
certified engineering and manufacturing facilities in Silicon
Valley (USA), Japan and China. For additional
information visit www.neophotonics.com.
© 2018 NeoPhotonics Corporation. All rights
reserved. NeoPhotonics and the red dot logo are
trademarks of NeoPhotonics Corporation. All other marks are
the property of their respective owners.
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NeoPhotonics CorporationBeth Eby, +1-408-895-6086Chief Financial
Officerir@neophotonics.comorSapphire Investor Relations, LLCErica
Mannion, +1-617-542-6180Investor Relationsir@neophotonics.com
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