Rambus Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
Rambus Inc. (NASDAQ: RMBS), a premier silicon IP and chip
provider making data faster and safer, today announced grants of
inducement awards to its Chief Operating Officer, Sean Fan, and
other employees joining the company as a result of the recent
acquisition of Northwest Logic, Inc.
In accordance with NASDAQ Listing Rule 5635(c)(4), Rambus’
Compensation Committee of its Board of Directors approved the
grants of the following equity awards to Mr. Fan as a material
inducement to his accepting employment with Rambus: (i) an award of
112,782 restricted stock units, and (ii) an award of 112,782
performance units. Fifty percent of such restricted stock units
will vest on the one-year anniversary of the date of grant and 50%
of the restricted stock units will vest on the two-year anniversary
of the date of grant. The performance units will vest based upon
the achievement of customer licensing income compound annual growth
measured over a three-year performance period, consistent with the
performance units for the other executive officers of the company.
The company granted the restricted stock units and the performance
units on September 3, 2019, the first business day of the first
full month after Mr. Fan’s start date of August 26, 2019. The
inducement awards were made under Rambus’ newly adopted 2019
Inducement Equity Incentive Plan and related award agreements.
In addition, Rambus also granted awards under the 2019
Inducement Equity Incentive Plan to non-executive officer employees
of recently acquired Northwest Logic, Inc. in accordance with
NASDAQ Listing Rule 5635(c)(4) and as approved by Rambus’
Compensation Committee of its Board of Directors. Rambus issued an
aggregate of 37,000 restricted stock units to these employees on
September 3, 2019, the first business day of the first full month
after their start date with Rambus. Such restricted stock units
will vest over four years, with twenty-five percent (25%) vesting
each year on the grant date anniversary until fully vested.
Company website: rambus.com Rambus blog: rambus.com/blog
Twitter: @rambusinc LinkedIn: www.linkedin.com/company/rambus
About Rambus Inc.
Dedicated to making data faster and safer, Rambus creates
innovative hardware, software and services that drive technology
advancements from the data center to the mobile edge. Our
architecture licenses, IP cores, chips, software, and services span
memory and interfaces, security, and emerging technologies to
positively impact the modern world. We collaborate with the
industry, partnering with leading chip and system designers,
foundries, and service providers. Integrated into tens of billions
of devices and systems, our products and technologies power and
secure diverse applications, including Big Data, Internet of Things
(IoT) security, mobile payments, and smart ticketing. For more
information, visit rambus.com.
Source: Rambus Inc.
version on businesswire.com: https://www.businesswire.com/news/home/20190905005882/en/
Nicole Noutsios NMN Advisors / Rambus Investor Relations t:
Historical Stock Chart
From Jul 2020 to Aug 2020
Historical Stock Chart
From Aug 2019 to Aug 2020