BELLEVUE, Wash., Jan. 6, 2017 /PRNewswire/ -- Bsquare
(NASDAQ: BSQR) today reported two grants under its 2011 Inducement
Award Plan to Peter Biere, who
joined Bsquare as its Chief Financial Officer effective
December 30, 2016.
The grants are a non-qualified stock option to purchase 100,000
shares of Bsquare common stock and a grant of 7,500 restricted
stock units, each with a grant date of December 30, 2016. The options vest as to 25% of
the underlying shares on the first anniversary of the grant date,
with the balance vesting in equal monthly installments for three
years thereafter, subject to Mr. Biere's continued service
relationship with Bsquare. The option exercise price is
$5.85 per share, which was the
closing price of Bsquare's common stock on the grant date. The
restricted stock units vest as to 25% of the underlying shares on
the first anniversary of the grant date, with the balance vesting
in equal quarterly installments for three years thereafter, subject
to Mr. Biere's continued service relationship with Bsquare.
The grants were approved by the Bsquare Board of Directors on
December 4, 2016, including a
majority of its independent directors. In accordance with NASDAQ
Listing Rule 5635(c)(4), the grants were made as an inducement
material to Mr. Biere's entering into an employment relationship
with Bsquare.
About Bsquare
For more than two decades, Bsquare has helped its customers
extract business value from a broad array of physical assets by
making them intelligent, connecting them, and using the data they
generate to optimize business processes. Bsquare DataV software
solutions can be deployed by a wide variety of enterprises to
create business-focused Internet of Things (IoT) systems that more
effectively monitor device data, automate processes, predict events
and produce better business outcomes. Bsquare goes a step further
by coupling its purpose-built DataV software with comprehensive
analytic and engineering services that can help organizations of
all types make IoT a business reality. For more information, visit
www.bsquare.com.
BSQUARE, the BSQUARE Logo and DataV are trademarks of BSQUARE
Corporation in the U.S. and other countries. Other names and brands
herein may be trademarks of others.
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SOURCE Bsquare