Synaptics Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
August 19 2019 - 4:05PM
Synaptics® Incorporated (NASDAQ: SYNA), (the “Company”), the
leading developer of human interface solutions, today announced
that effective August 19, 2019 the Board of Directors of the
Company (the “Board”) adopted the Synaptics Incorporated 2019
Inducement Equity Plan (the “Inducement Plan”) under which the
Company may grant inducement equity awards outside the Synaptics
Incorporated Amended and Restated 2010 Incentive Compensation Plan.
The Inducement Plan is used exclusively for the grant of equity
awards to individuals who were not previously an employee or
non-employee director of the Company (or following a bona fide
period of non-employment) as an inducement material to such
individual's entering into employment with the Company in
accordance with Nasdaq Listing Rule 5635(c)(4).
In addition, the Company announced that effective August 19,
2019, the Board has granted Michael Hurlston, the Company’s
newly-appointed President and Chief Executive Officer, 59,772
restricted stock units (“RSUs”) and a target of 154,985 market
stock units (“MSUs”) under the Inducement Plan. Both the RSUs and
MSUs will vest annually over four years, subject to his continued
service with the Company on such vesting dates, and MSU achievement
will be based on Company total shareholder return performance.
Other terms of the RSU and MSU grants are as determined by the
Board and set forth in the Inducement Plan and applicable award
agreements covering each grant.
About Synaptics: Synaptics is the pioneer and
leader of human interface technology, bringing innovative and
intuitive user experiences to intelligent devices. Synaptics’ broad
portfolio of touch, display, biometrics, voice, audio, and
multimedia products is built on the company’s rich R&D,
extensive IP and dependable supply chain capabilities. With
solutions designed for mobile, PC, smart home, and automotive
industries, Synaptics combines ease of use, functionality and
aesthetics to enable products that help make our digital lives more
productive, secure and enjoyable. (NASDAQ: SYNA)
www.synaptics.com.
Join Synaptics on Twitter, LinkedIn, and Facebook, or visit
www.synaptics.com.
Synaptics, and the Synaptics logo are trademarks of Synaptics in
the United States and/or other countries. All other marks are the
property of their respective owners.
For further information, please contact: David
Hurd Synaptics +1-408-904-2766 david.hurd@synaptics.com
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