EMCORE Announces Inducement Plan and Grants under Nasdaq Listing Rule 5635(c)(4)
August 12 2022 - 4:02PM
EMCORE Corporation (Nasdaq: EMKR) (“EMCORE”), a leading
provider of advanced mixed-signal products that serve the aerospace
and defense, communications, and sensing markets, today announced
that effective August 8, 2022, the Board of Directors of the
Company (the “Board”) adopted the EMCORE Corporation 2022 New
Employee Inducement Plan (the “Inducement Plan”). The Inducement
Plan will be used exclusively for the grant of equity awards to
individuals who were not previously an employee or non-employee
director of EMCORE (or following a bona fide period of
non-employment) as an inducement material to such individual’s
entering into employment with EMCORE in accordance with Nasdaq
Listing Rule 5635(c)(4). Effective as of August 10, 2022, the Board
granted an aggregate of 363,100 restricted stock units under the
Inducement Plan to 124 new employees hired in connection with
EMCORE’s acquisition of the Fiber Optic Gyroscope (FOG) and
Inertial Navigation Systems business segment of KVH Industries,
Inc. (Nasdaq: KVHI), contingent on such individuals accepting
employment with the Company.
EMCORE is providing this information in compliance with Nasdaq
Marketplace Rule 5635(c)(4).
About EMCORE Corporation
EMCORE is a leading provider of advanced mixed-signal products
that serve the aerospace and defense, communications, and sensing
markets. Our best-in-class components and systems support a broad
array of applications including navigation and inertial sensing,
defense optoelectronics, broadband communications, optical sensing,
and specialty chips for telecom and data centers. We leverage
industry-leading Quartz MEMS, Lithium Niobate, and Indium Phosphide
chip-level technology to deliver state-of-the-art component and
system-level products across our end-market applications. EMCORE
has vertically-integrated manufacturing capability at its
facilities in Alhambra, CA, Budd Lake, NJ,
and Concord, CA. Our manufacturing facilities maintain
ISO 9001 quality management certification, and we are AS9100
aerospace quality certified at our facilities in Budd
Lake and Concord. For further information about EMCORE,
please visit http://www.emcore.com.
Investor Contact:
EMCORE CorporationTom MinichielloChief
Financial Officer(626)
293-3400investor@emcore.com
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