CALABASAS, Calif., Nov. 17, 2014 /PRNewswire/ -- DTS, Inc.
(Nasdaq:DTSI) today announced that on November 12, 2014, the Company's Compensation
Committee of its Board of Directors approved equity award grants
under the DTS, Inc. 2014 New Employee Incentive Plan as material
inducements to two individuals entering into employment with the
Company, pursuant to NASDAQ Listing Rule 5635(c)(4).
![DTS Logo DTS Logo](http://photos.prnewswire.com/prnvar/20140724/130048)
The two individuals were granted stock options to purchase an
aggregate of 22,720 shares of the Company's common stock and
restricted stock units representing a total of 4,520 shares of
common stock. The stock options have an exercise price of
$33.49 per share, which is equal to
the closing price of the Company's common stock on November 12, 2014. The stock options will vest in
four equal annual installments beginning on the first anniversary
of the date of grant and will expire in ten years from the date of
grant. The restricted stock units will vest in four equal annual
installments beginning on November 15,
2015. In each case, the vesting of shares is contingent upon
the individual's continued employment with DTS through each vesting
date.
About DTS, Inc.
DTS, Inc. (Nasdaq:DTSI) is a premier audio solutions provider
for high-definition entertainment experiences—anytime, anywhere, on
any device. DTS exists to make the world sound better. DTS' audio
solutions are designed to enable recording, delivery and playback
of simple, personalized, and immersive high-definition audio, and
are incorporated by hundreds of licensee customers around the world
into an array of consumer electronics devices. From a renowned
legacy as a pioneer in high definition multi-channel audio, DTS
became a mandatory audio format in the Blu-ray Disc™ standard and
is now increasingly deployed in enabling compelling digital
delivery of movies, music, games and other forms of digital
entertainment to a growing array of network-connected consumer
electronics devices. DTS technology is in televisions, personal
computers, mobile phones, tablets, digital media players,
set-top-boxes, video game consoles, Blu-ray Disc players,
audio/video receivers, wireless speakers, soundbars, DVD based
products, automotive audio systems, and home theater systems.
Founded in 1993, DTS' corporate headquarters are located in
Calabasas, California. DTS
also has offices in Encino,
Los Gatos, San Diego and Santa
Ana, California, Washington, China, France, Hong
Kong, Ireland, Japan, Singapore, South
Korea, Taiwan and the
United Kingdom. Copyright 2014,
DTS, Inc., DTS, the Symbol, and DTS and the Symbol together are
registered trademarks of DTS, Inc. All other trademarks are the
properties of their respective owners. All rights reserved.
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DTS-I
SOURCE DTS, Inc.