Data I/O Announces Gerald Ng as Vice President of Finance
June 30 2023 - 9:00AM
Business Wire
Data I/O Corporation (NASDAQ:DAIO), the leading global provider
of advanced security and data deployment solutions for
microcontrollers, security ICs and memory devices, announced that
Gerald Ng will be joining the Company as Vice President of Finance
with a start date of July 1, 2023. Effective August 16, 2023, he
will become the Company’s Vice President and Chief Financial
Officer.
Gerald brings a wealth of experience in finance and treasury
functions, business development, financial planning &
forecasting, monthly reporting and business compliance. Gerald was
previously Chief Financial Officer for Kymeta Corporation, a
broadband satellite and cellular networks communication company.
Gerald was CFO of FUJIFILM SonoSite, Inc. and prior to that CFO at
Fluke Networks, a Danaher operating company, where he supported the
sale of the business to NetScout, Inc. He served as Vice President
of Finance at Spiration, Inc. and was responsible for all finance
and treasury functions and provided due diligence in the sale of
the company to Olympus Medical. Gerald holds a Masters of Business
Administration from Northwestern University – Kellogg School of
Management and a Bachelor of Arts Finance and Accounting from the
University of Washington.
“We are thrilled to have Gerald join Data I/O,” said Anthony
Ambrose, President and CEO of Data I/O Corporation. “Gerald comes
to Data I/O with broad and deep CFO experience in related
industries that will give him the necessary background and
capabilities to help Data I/O achieve our strategic goals and
advance the company to the next level on a global scale.”
“I am very pleased to join Data I/O at this exciting time in the
company’s history,” said Gerald Ng. “I look forward to building on
Data I/O’s strong tradition in finance and help drive growth in new
areas.”
NASDAQ Required Equity Disclosure
Pursuant to NASDAQ rules, the initial equity compensation for
Gerald Ng was approved by the Company’s Compensation Committee,
consisting of only independent directors. They approved restricted
stock unit and performance stock unit grants which were to be made
as employment inducement grants included in his offer letter and
consisted as follows: inducement grants of 75,000 Restricted Stock
Units vesting annually over 4 years, and up to 7,500 shares of
Performance Stock Units with the performance measure based upon
Data I/O’s revenue growth during the period of 2023 through 2025
resulting in potential shares of 2,500 at threshold, 5,000 at
target, and 7,500 at maximum. The equity grants are made under or
pursuant to the terms of the Data I/O Corporation 2023 Omnibus
Incentive Compensation Plan.
About Data I/O Corporation
Since 1972, Data I/O has developed innovative solutions to
enable the design and manufacture of electronic products for
automotive, Internet-of-Things, medical, wireless, consumer
electronics, industrial controls and other electronics devices.
Today, our customers use Data I/O’s data programming solutions and
security deployment platform to secure the global electronics
supply chain and protect IoT device intellectual property from
point of inception to deployment in the field. OEMs of any size can
program and securely provision devices from early samples all the
way to high volume production prior to shipping semiconductor
devices to a manufacturing line. Data I/O enables customers to
reliably, securely, and cost-effectively bring innovative new
products to life. These solutions are backed by a portfolio of
patents and a global network of Data I/O support and service
professionals, ensuring success for our customers. Learn more at
dataio.com/Company/Patents.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230630284736/en/
Data I/O Corporation Jennifer Higgins Marketing and
Communications Manager 425-867-6922 higginj@dataio.com
Darrow Associates, Inc. Jordan Darrow 512-551-9296
jdarrow@darrowir.com
Data I O (NASDAQ:DAIO)
Historical Stock Chart
From Apr 2024 to May 2024
Data I O (NASDAQ:DAIO)
Historical Stock Chart
From May 2023 to May 2024