BELLEVUE, Wash., Aug. 10, 2017 /PRNewswire/ -- Bsquare
(NASDAQ: BSQR) today reported two grants under its 2011 Inducement
Award Plan to David Bennett, who
will join Bsquare as its Sr. Director of Enterprise IoT Sales
effective August 21, 2017.
The grants will be made pursuant to an Offer Letter dated
August 4, 2017, for an award of 5,000
restricted stock units and an award of non-qualified stock options
to purchase up to 30,000 shares of Bsquare common stock. The option
has a 10-year term and an exercise price which will be determined
based on the closing price of Bsquare's common stock on the grant
date. The restricted stock units and option each vest annually in
equal installments over four years from the grant date, with the
first vesting date in August 2018,
subject to David Bennett's continued
service relationship with Bsquare.
The grants were approved by the Bsquare Board of Directors on
July 31, 2017, 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
David Bennett 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