Energous Corporation ("Energous®" or "the Company") (Nasdaq:
WATT), the developer of WattUp®, a revolutionary wireless charging
2.0 technology, today announced it has issued inducement restricted
stock units (“RSUs”) to three new non-executive employees.
On November 17, 2020, three new non-executive employees were
issued RSUs covering a total of 16,500 shares of common stock under
the Company’s 2017 Equity Inducement Plan (the “Inducement Plan”).
The RSUs vest over four years with 25 percent vesting on the first
anniversary of each employee’s hire date and the balance vesting
quarterly thereafter in 12 equal installments, subject to continued
service through each applicable vesting date. The awards are
subject to the terms and conditions of the Inducement Plan and the
terms and conditions of an applicable award agreement covering each
grant. The awards were approved by the compensation committee of
the Company’s board of directors and were granted as an inducement
material to the new employees entering into employment with the
Company in accordance with Nasdaq Marketplace Rule 5635(c)(4). The
Company is making this announcement as required by Nasdaq
rules.
In addition, the RSU grants set forth below were approved by
either the compensation committee of the Company’s board of
directors or the Board of Directors (including a majority of the
Company’s independent directors) prior to November 2020, have
already been reflected in the Company’s prior periodic reports
filed with the SEC, and are reflected in this press release in
compliance with Nasdaq rules. The awards were granted as an
inducement material to the new employees entering into employment
with the Company in accordance with Nasdaq Marketplace Rule
5635(c)(4).
All previously issued RSUs vest over four years with 25 percent
of the RSUs vesting on the first anniversary of each employee’s
hire date and the balance vesting quarterly thereafter in 12 equal
installments, subject to continued service through each applicable
vesting date. The awards are subject to the terms and conditions of
the Inducement Plan and the terms and conditions of an applicable
award agreement covering each grant. The awards include:
On April 9, 2017, one new non-executive employee was issued RSUs
covering a total of 10,000 shares of common stock as an inducement
award outside of a stock plan.
On December 28, 2017, two new non-executive employees were
issued RSUs covering a total of 21,500 shares of common stock under
the Company’s Inducement Plan.
On March 21, 2018, five new non-executive employees were issued
RSUs covering a total of 144,500 shares of common stock under the
Company’s Inducement Plan.
On June 7, 2018, six new non-executive employees were issued
RSUs covering a total of 108,000 shares of common stock under the
Company’s Inducement Plan.
On August 22, 2018, two new non-executive employees were issued
RSUs covering a total of 15,000 shares of common stock under the
Company’s Inducement Plan.
On December 12, 2018, six new non-executive employees were
issued RSUs covering a total of 56,500 shares of common stock under
the Company’s Inducement Plan.
On March 28, 2019, two new non-executive employees were issued
RSUs covering a total of 25,500 shares of common stock under the
Company’s Inducement Plan.
On August 15, 2019, one new non-executive employee was issued
RSUs covering a total of 15,000 shares of common stock under the
Company’s Inducement Plan.
On October 15, 2019, one new non-executive employee was issued
RSUs covering a total of 7,500 shares of common stock under the
Company’s Inducement Plan.
On February 4, 2020, one new non-executive employee was issued
RSUs covering a total of 20,000 shares of common stock under the
Company’s Inducement Plan.
On August 25, 2020, four new non-executive employee were issued
RSUs covering a total of 58,000 shares of common stock under the
Company’s Inducement Plan.
About Energous
Corporation
Energous Corporation (Nasdaq: WATT) is leading the next
generation of wireless charging – wireless charging 2.0 – with its
award-winning WattUp® technology, which supports fast, efficient
contact-based charging, as well as charging at a distance. WattUp
is a scalable, RF-based wireless charging technology that offers
substantial improvements in contact-based charging efficiency,
foreign object detection, orientation freedom and thermal
performance compared to older, coil-based charging technologies.
The technology can be designed into many different sized electronic
devices for the home and office, as well as the medical,
industrial, retail and automotive industries, and it ensures
interoperability across products. Energous develops silicon-based
wireless power transfer (WPT) technologies and customizable
reference designs. These include innovative silicon chips, antennas
and software, for a large variety of applications, such as
smartphones, fitness trackers, hearables, medical sensors and more.
Energous received the world’s first FCC Part 18 certification for
at-a-distance wireless charging, and the company has 229 awarded
patents for its WattUp wireless charging technology to-date. For
more information, please visit Energous.com.
Safe Harbor Statement
This press release contains forward-looking statements that
describe our future plans and expectations. These statements
generally use terms such as “believe,” “expect,” “may,” “will,”
“should,” “could,” “seek,” “intend,” “plan,” “estimate,”
“anticipate” or similar terms. Examples of our forward-looking
statements in this release include our statements about technology
developments, partner product development and wireless charging
innovation. Our forward-looking statements speak only as of this
date; they are based on current expectations and we undertake no
duty to update them. Factors that could cause actual results to
differ from what we expect include: the impact of the COVID-19
outbreak on the U.S. and global economies generally and on our
business, regulatory approvals, product development, employees,
partners, customers and potential user base; uncertain timing of
necessary regulatory approvals; timing of customer product
development and market success of customer products; our dependence
on distribution partners; and intense industry competition. We urge
you to consider those factors, and the other risks and
uncertainties described in our most recent annual report on Form
10-K and subsequent quarterly reports on Form 10-Q, in evaluating
our forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20201217005245/en/
Energous Public Relations PR@energous.com (408)
963-0200
Energous Investor Relations Mike Bishop (415) 894-9633
IR@energous.com
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