JDSU Grants Stock Awards to Employees in Connection With Acquisition of Acterna, Inc.
January 30 2006 - 4:30PM
PR Newswire (US)
SAN JOSE, Calif., Jan. 30 /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 January 27,
2006. Stock options covering a total of 682,500 shares of JDSU
common stock were granted to 67 employees. The stock options were
granted with an exercise price equal to the closing price of JDSU
common stock on NASDAQ on January 27, 2006, which was $3.16. 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 JDSU. 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/. Investors: 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 press, Kathleen Greene,
+1-408-546-5852, , both of JDSU Web site: http://www.jdsu.com/
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