Mindspeed Reports Inducement Equity Grant
February 15 2012 - 4:30AM
Business Wire
Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier
of semiconductor solutions for network infrastructure applications,
today announced that on February 10, 2012, the compensation and
management development committee of its board of directors granted
Stephen N. Ananias, Mindspeed's senior vice president and chief
financial officer, principal financial officer and principal
accounting officer, an award of stock options for 40,000 shares of
Mindspeed common stock. The stock options will have an exercise
price of $6.28, which was the closing price of Mindspeed’s common
stock on the date of grant and will vest 8.33% each three (3)
months following the grant date for a period of three years.
Mindspeed’s Compensation and Management Development Committee,
which is comprised solely of independent directors, approved the
grant of stock options and shares of restricted stock pursuant to a
stand-alone option agreement and in accordance with NASDAQ Listing
Rule 4350(i)(1)(iv).
About Mindspeed Technologies
Mindspeed Technologies (NASDAQ: MSPD) is a leading provider of
network infrastructure semiconductor solutions to the
communications industry. The company's low-power system-on-chip
(SoC) products are helping to drive video, voice and data
applications in worldwide fiber-optic networks and enable advanced
processing for 3G and long-term evolution (LTE) mobile networks.
The company's high-performance analog products are used in a
variety of optical, enterprise, industrial and video transport
systems. Mindspeed's products are sold to original equipment
manufacturers (OEMs) around the globe.
To learn more, please visit www.mindspeed.com. Company news
and updates are also posted at www.twitter.com/mindspeed.
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