NeoPhotonics Announces Inducement Grants under NYSE Rule 303A.08
May 24 2019 - 4:15PM
Business Wire
NeoPhotonics Corporation (NYSE: NPTN), a leading designer and
manufacturer of optoelectronic solutions for the highest speed
communications networks in telecom and datacenter applications,
today announced that the Compensation Committee of NeoPhotonics
Board of Directors granted inducement awards to Mr. Hui Xu, in
connection with his employment as Vice President of Research &
Development.
On May 23, 2019, NeoPhotonics Compensation Committee granted Mr.
Xu a restricted stock unit award as an inducement award under the
2011 Inducement Award Plan to purchase 60,000 shares of common
stock. The RSU award will be subject to a six year vesting
schedule, determined by the Board of Directors as follows: 10,000
of the Restricted Stock shall vest on each year anniversary of the
Vesting Commencement Date, subject to the employee’s continued
service. The Compensation Committee and the Board of Directors
granted each award as a material inducement to Mr. Xu’s respective
employment in accordance with NYSE Rule 303A.08.
The NeoPhotonics Board of Directors approved the 2011 Inducement
Award Plan based on the employment inducement exemption provided
under the NYSE listing standards. As a result, the 2011
Inducement Award Plan did not require shareholder approval, and
this press release is being issued pursuant to
applicable NYSE guidance.
About NeoPhotonics
NeoPhotonics is a leading designer and manufacturer of
optoelectronic solutions for the highest speed communications
networks in telecom and datacenter applications. The Company’s
products enable cost-effective, high-speed data transmission and
efficient allocation of bandwidth over communications networks.
NeoPhotonics maintains headquarters in San Jose, California and ISO
9001:2000 certified engineering and manufacturing facilities in
Silicon Valley (USA), Japan and China. For additional information
visit www.neophotonics.com.
©2019 NeoPhotonics Corporation. All rights reserved.
NeoPhotonics and the red dot logo are trademarks of NeoPhotonics
Corporation. All other marks are the property of their respective
owners.
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version on businesswire.com: https://www.businesswire.com/news/home/20190524005390/en/
NeoPhotonics CorporationBeth Eby, Chief Financial
Officer+1-408-895-6086ir@neophotonics.com
Sapphire Investor Relations, LLCErica Mannion, Investor
Relations+1-617-542-6180ir@neophotonics.com
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