Infinera Reports Inducement Grant Under NASDAQ Listing Rules
August 26 2019 - 8:00AM
Infinera (NASDAQ: INFN) announced today, as required by NASDAQ
Stock Market Rules, equity inducement awards to Nancy Erba,
Infinera’s new Chief Financial Officer.
In accordance with NASDAQ Listing Rule 5635(c)(4),
the Compensation Committee of Infinera’s Board of Directors
approved the grant of the following equity awards to Ms. Erba as a
material inducement to her accepting employment with Infinera: (i)
an award of 562,500 restricted stock units (“RSUs”), and (ii) an
award of 187,500 performance shares (“PSAs”). The RSUs shall vest
as to 1/4th of the underlying shares annually on each one-year
anniversary of the vesting commencement date, subject to Ms. Erba’s
remaining a service provider of Infinera through each applicable
vesting date. The PSAs shall vest subject to achievement of a
financial performance objective related to non-GAAP operating
income targets, as determined by the Compensation Committee of
Infinera’s Board of Directors in its discretion. The PSAs shall
vest based on meeting such performance-based objective and include
a service-based requirement should the performance objective be met
before the three-year performance period is completed. The
performance period begins on the first day of Infinera’s 2019
fiscal year and ends on the last day of Infinera’s 2021 fiscal year
consistent with similar performance awards granted to other
Infinera executives. These awards were made under Infinera’s 2019
Inducement Equity Incentive Plan and related award agreements.
Contacts:
Media: Anna VueTel. +1 (916)
595-8157avue@infinera.com
Investors:Ted MoreauTel: + 1 (408)
542-6205tmoreau@infinera.com
About InfineraInfinera is a global supplier of
innovative networking solutions that enable carriers, cloud
operators, governments and enterprises to scale network bandwidth,
accelerate service innovation and automate network operations. The
Infinera end-to-end packet-optical portfolio delivers
industry-leading economics and performance in long-haul, subsea,
data center interconnect and metro transport applications. To learn
more about Infinera visit www.infinera.com, follow us on Twitter
@Infinera and read our latest blog posts at
www.infinera.com/blog.
Infinera and the Infinera logo are registered trademarks of
Infinera Corporation.
Infinera (NASDAQ:INFN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Infinera (NASDAQ:INFN)
Historical Stock Chart
From Apr 2023 to Apr 2024