FPGA Industry Executive to Lead Lattice’s
Global R&D Team In Driving Product Innovation
Lattice Semiconductor Corporation (NASDAQ: LSCC), a leading
provider of customizable smart connectivity solutions, announced
the appointment of Steve Douglass as the Company’s Corporate Vice
President, R&D, effective immediately. Mr. Douglass brings
extensive experience building and leading global high performing
engineering and customer-facing teams that deliver industry-leading
IC products and solutions. He has a proven track record of creating
and executing business strategies that inspire customer innovation
and deliver profitable results. Prior to Lattice, Mr. Douglass was
the Corporate Vice President, Customer Technology Deployment at
Xilinx, Inc.
Jim Anderson, President and Chief Executive Officer, said, “We
are excited to have Steve Douglass join Lattice. His proven ability
to lead global FPGA development teams and drive customer-focused
innovation in targeted applications make him the perfect fit. His
technical skills, market knowledge and leadership capabilities will
help further strengthen Lattice as we drive sustained growth and
profitability by accelerating the worldwide adoption of our
ground-breaking hardware and software solutions.”
Mr. Douglass said, "I am excited to be joining Lattice and
leading its R&D efforts. Lattice has excellent programmable
product offerings built by a talented engineering team. I look
forward to the opportunity to further strengthen the portfolio with
market driven innovations that will help deliver profitable growth
for the Company.”
Steve Douglass brings to the role over 30 years of broad
technology experience developing programmable solutions for many
markets including wired and wireless communications, industrial,
automotive and test and measurement. He is a 20-year Xilinx
executive, most recently serving as Corporate Vice President,
Customer Technology Deployment and leading the Worldwide Technical
Sales and Support team since 2012. Prior to that, he held a wide
range of leadership positions, including Vice President and GM,
Advanced Products Division, and Vice President of Product
Development. Mr. Douglass was previously at Cypress Semiconductor
for 13 years and served in various leadership roles, including
Business Unit Director, CPLDs and FPGAs. He began his career as a
Circuit Design Engineer at Intel Corporation. He was awarded 23
U.S. and International patents for FPGA and PLD architectures and
circuits, and has received numerous industry honors including EDN’s
Product of the Year and Innovator of the Year. He holds a Master of
Science in Electrical Engineering from Stanford University and
Bachelor of Science in Electrical Engineering from Santa Clara
University. He also serves on Santa Clara University’s Electrical
Engineering Industry Advisory Board.
Inducement Awards Granted:
The independent Compensation Committee of the Company's Board of
Directors approved the grant of equity compensation awards,
effective on Mr. Douglass’s start date, outside of the Company’s
2013 Incentive Plan in accordance with NASDAQ Listing Rule
5635(c)(4), as inducements material to Mr. Douglass entering
employment with the Company. Restricted stock units, or RSUs, for
approximately 130,500 shares of the Company’s common stock, with
time-based vesting and the specific number of shares calculated
based on the Company average stock pricing to provide a value of
$1.0 million. Performance RSUs for approximately 96,500 shares of
the Company’s common stock, with vesting of up to 200% based on the
achievement of total shareholder return targets and the specific
number of shares calculated using the Company’s standard
Monte-Carlo simulation valuation model to provide a value of $1.0
million.
Forward-Looking Statements Notice:
The foregoing paragraphs contain forward-looking statements that
involve estimates, assumptions, risks and uncertainties. Any
statements about Lattice’s expectations, beliefs, plans,
objectives, assumptions or future events or performance are not
historical facts and may be forward-looking. Such forward-looking
statements include statements relating to: Lattice’s opportunities
and strategy. Other forward-looking statements may be indicated by
words such as “will,” “could,” “should,” “would,” “may,” “expect,”
“plan,” “project,” “anticipate,” “intend,” “forecast,” “future,”
“believe,” “estimate,” “predict,” “propose,” “potential,”
“continue” or the negative of these terms or other comparable
terminology.
Factors that may cause actual results to differ materially from
the forward-looking statements in this press release include global
economic uncertainty; overall semiconductor market conditions; the
trading price of our common stock on the date of the inducement
award, market acceptance and demand for Lattice’s products; and the
impact of competitive products and pricing; technological and
product development risks;. In addition, actual results are subject
to other risks and uncertainties that relate more broadly to
Lattice’s overall business, including those risks more fully
described in Lattice’s filings with the SEC, including its annual
report on Form 10-K for the fiscal year ended December 30, 2017,
and Lattice’s quarterly reports filed on Form 10-Q.
You should not unduly rely on forward-looking statements because
actual results could differ materially from those expressed in any
forward-looking statements. In addition, any forward-looking
statement applies only as of the date on which it is made. Except
as required by law, Lattice does not intend to update or revise any
forward-looking statements, whether as a result of events or
circumstances after the date of this press release or to reflect
the occurrence of unanticipated events.
About Lattice Semiconductor Corporation:
Lattice Semiconductor (NASDAQ: LSCC) is a leader in smart
connectivity solutions at the network edge, where the “things” of
IoT live. Our low power FPGA and video ASSP products deliver edge
intelligence, edge connectivity, and control solutions to the
industrial, consumer, communications, compute, and automotive
markets. Our unwavering commitment to our global customers enables
them to accelerate their innovation, creating an even better and
more connected world.
For more information about Lattice, please
visit www.latticesemi.com. You
can also follow us via LinkedIn, Twitter, Facebook, YouTube,
WeChat, Weibo or Youku.
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version on businesswire.com: https://www.businesswire.com/news/home/20180904005667/en/
Media:Lattice Semiconductor CorporationDoug Hunter,
503-268-8512doug.hunter@latticesemi.comInvestors:Global IR
PartnersDavid Pasquale, 914-337-8801lscc@globalirpartners.com
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