Fabrinet Reports Inducement Awards to CEO Pursuant to NYSE Rule 303A.08
November 09 2017 - 5:18PM
Business Wire
Fabrinet (NYSE: FN), a leading provider of advanced optical
packaging and precision optical, electro-mechanical and electronic
manufacturing services to original equipment manufacturers of
complex products, today reported grants under its 2017 Inducement
Equity Incentive Plan to Seamus Grady, who joined Fabrinet as its
Chief Executive Officer on September 22, 2017.
As an inducement material to Mr. Grady entering into employment
with Fabrinet, effective November 9, 2017, the Compensation
Committee of Fabrinet’s board of directors granted 48,653
restricted share units (“RSUs”), 48,653 performance share units
(“PSUs”) and 48,653 “stretch” PSUs (“Stretch PSUs”) to Mr. Grady.
The RSUs will vest in equal annual installments over a period of
four years on each anniversary of Mr. Grady’s hire date, subject to
Mr. Grady’s continued service with Fabrinet through each such
vesting date. The PSUs and the Stretch PSUs will vest, if at all,
in 2019 on the date the Compensation Committee certifies
achievement of performance criteria based 50% on achievement of
cumulative fiscal 2018 and fiscal 2019 revenue targets and 50% on
achievement of cumulative fiscal 2018 and fiscal 2019 non-GAAP
gross margin targets.
Fabrinet is issuing this press release pursuant to Rule 303A.08
of the New York Stock Exchange's Listed Company Manual, which
requires public announcement of inducement awards.
About Fabrinet
Fabrinet is a leading provider of advanced optical packaging and
precision optical, electro-mechanical, and electronic manufacturing
services to original equipment manufacturers of complex products,
such as optical communication components, modules and subsystems,
automotive components, medical devices, industrial lasers and
sensors. Fabrinet offers a broad range of advanced optical and
electro-mechanical capabilities across the entire manufacturing
process, including process design and engineering, supply chain
management, manufacturing, advanced packaging, integration, final
assembly and test. Fabrinet focuses on production of high
complexity products in any mix and any volume. Fabrinet maintains
engineering and manufacturing resources and facilities in Thailand,
the United States of America, the People's Republic of China and
the United Kingdom. For more information visit:
www.fabrinet.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171109006695/en/
Investor Contact:FabrinetGaro Toomajanianir@fabrinet.com
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