JDSU Grants Stock Awards to Employees in Connection With Acquisition of Acterna, Inc.
November 14 2005 - 4:10PM
PR Newswire (US)
SAN JOSE, Calif., Nov. 14 /PRNewswire-FirstCall/ -- JDSU (Nasdaq:
JDSU; TSX: JDU)today announced that it has made grants of
compensatory stock option awards to former employees of Acterna,
Inc. in connection with its acquisition on August 3, 2005. Acterna
did not have a regular practice of granting stock option awards to
its broad employee population, and the stock option awards granted
to those employees by JDSU are comparable to stock option awards
that JDSU generally grants to its new employees. These grants were
made under the JDS Uniphase Corporation 2005 Acquisition Equity
Incentive Plan, which was approved by the Board of Directors of
JDSU, but not submitted for the approval of the stockholders of
JDSU. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050913/SFTU125LOGO ) These
stock option awards were approved by the Compensation Committee of
the JDS Uniphase Corporation Board of Directors on August 26, 2005.
Stock options covering a total of 2,014,142 shares of JDSU common
stock were granted to 283 employees. The stock options were granted
with an exercise price equal to the closing price of JDSU common
stock on NASDAQ on November 10, 2005, which was $2.24. The stock
options otherwise contain the same terms and conditions as the
standard form of stock option agreement previously approved by the
Board of Directors of JDS Uniphase. The material terms of the
standard form of stock option agreement are as follows. Stock
options vest over a four (4) year period: 25% of the shares vest
after one year of continuous service with JDSU from the grant date
and the remaining shares vest in equal quarterly installments over
the next three years of continuous service. The options may not be
exercised any later than eight (8) years from the date of grant,
and the option will generally expire after 90 days in the event
that the employee's service with JDSU ends during that eight year
period. About JDSU JDSU is committed to enabling broadband &
optical innovation in the communications, commercial and consumer
markets. JDSU is the leading provider of communications test and
measurement solutions and optical products for telecommunications
service providers, cable operators, and network equipment
manufacturers. Furthermore, JDSU is a leading provider of
innovative optical solutions for medical/environmental
instrumentation, semiconductor processing, display, brand
authentication, aerospace and defense, and decorative applications.
More information is available at http://www.jdsu.com/. CONTACT:
Jacquie Ross 408-546-4445
http://www.newscom.com/cgi-bin/prnh/20050913/SFTU125LOGO
http://photoarchive.ap.org/ DATASOURCE: JDSU CONTACT: investors,
Jacquie Ross, +1-408-546-4445, or , or media, Jayme Curtis,
+1-408-546-7028, or , both of JDSU Web site: http://www.jdsu.com/
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