BELLEVUE, Wash., Jan. 5, 2018 /PRNewswire/ -- Bsquare
(NASDAQ: BSQR) today reported two grants under its 2011 Inducement
Award Plan to Sean O'Neil, who will
join Bsquare as its Vice President of Engineering effective
January 4, 2018.
The grants will be made pursuant to an Offer Letter accepted
December 21, 2017, for an award of
5,000 restricted stock units and an award of non-qualified stock
options to purchase up to 30,000 shares of Bsquare common stock.
The option has a 10-year term and an exercise price which will be
determined based on the closing price of Bsquare's common stock on
January 4, 2018. That date
constitutes the later of the grant date of December 22, 2017, and Mr. O'Neill's start date
of January 4, 2018.
The restricted stock units and option each vest annually in
equal installments over four years from the grant date, with the
first vesting date in December 2018,
subject to Mr. O'Neil's continued service relationship with
Bsquare.
The grants were approved by the Bsquare Board of Directors on
December 22, 2017, including a
majority of its independent directors. In accordance with NASDAQ
Listing Rule 5635(c)(4), the grants were made as an inducement
material to Mr. O'Neil's agreement to enter into an employment
relationship with Bsquare.
About Bsquare
For more than two decades, Bsquare has helped its customers
extract business value from a broad array of physical assets by
making them intelligent, connecting them, and using the data they
generate to optimize business processes. Bsquare DataV software
solutions can be deployed by a wide variety of enterprises to
create business-focused Internet of Things (IoT) systems that more
effectively monitor device data, automate processes, predict events
and produce better business outcomes. Bsquare goes a step further
by coupling its purpose-built DataV software with comprehensive
analytic and engineering services that can help organizations of
all types make IoT a business reality. For more information, visit
www.bsquare.com.
BSQUARE, the BSQUARE Logo and DataV are trademarks of BSQUARE
Corporation in the U.S. and other countries. Other names and brands
herein may be trademarks of others.
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SOURCE Bsquare