Vislink Technologies, Inc. Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
January 24 2020 - 5:00PM
Vislink Technologies, Inc. announced today that on January 22, 2020
Carleton Miller was granted a time-based and performance-based
non-qualified stock option award to purchase an aggregate of
3,655,481 shares of the Company’s common stock under Nasdaq Listing
Rule 5653(c)(4) outside of the Company’s existing equity
compensation plans in connection with Mr. Miller’s
previously-announced employment by the Company as its Chief
Executive Officer. These options were granted as an inducement
material to Mr. Miller becoming an employee of Vislink
Technologies, Inc., in accordance with Nasdaq Listing Rule
5635(c)(4).
The options have an exercise price per share
equal to $0.285, which was the closing price of the Company’s
common stock on the Nasdaq Stock Market on January 22, 2020. 25% of
the time-based option vests on January 15, 2021 and the remaining
75% vests in substantially equal monthly installments over the
36-month period thereafter, subject to Mr. Miller’s continued
employment by the Company on the applicable vesting date. The
performance-based option vests in three equal tranches of 500,000
shares upon the Company’s attainment, on or before the fifth
anniversary of January 22, 2020, of specified cumulative EBITDA
performance conditions, subject in each case to Mr. Miller’s
continued employment by the Company on the applicable vesting
date.
About Vislink Technologies,
Inc. Vislink Technologies is a global leader in the
development and distribution of advanced communication solutions.
Driven by technical excellence that has led the industry for over
50 years, our innovative products and turnkey solutions provide
reliable connectivity in the toughest environments across the
global live production, military and government sectors. Our
solutions include high-definition communication links that reliably
capture, transmit and manage live event footage, as well as secure
video systems that support mission-critical applications. Vislink
Technologies shares are publicly traded on the Nasdaq Capital
Market under the ticker symbol VISL. For more information, visit
www.vislink.com.
Note on Forward-looking Statements
This press release may contain projections or
other forward-looking statements within the meaning of the Private
Securities Litigation Reform Act. These statements involve risks
and uncertainties, and actual events or results may differ
materially. Among the important factors that could cause actual
results to differ materially from those in the forward-looking
statements are the risk that our reduction in operating expenses
may impact our ability to meet our business objectives and achieve
our revenue targets and may not result in the expected improvement
in our profitability, the fact that our future growth depends in
part on further penetrating our addressable market and also growing
internationally, and we may not be successful in doing so; our
dependence on sales of certain products to generate a significant
portion of our revenue; the effect of a decrease in the sales or
change in sales mix of these products would harm our business; the
risks that an economic downturn or economic uncertainty in our key
U.S. and international markets may adversely affect demand for our
products; difficulty in accurately predicting our future customer
demand; the importance of maintaining the value and reputation of
our brand; and other factors detailed in our Annual Report on Form
10-K for the year ended December 31, 2018 and our other subsequent
filings with the Securities and Exchange Commission. These
forward-looking statements speak only as of the date hereof or as
of the date otherwise stated herein. The Company disclaims any
obligation to update these forward-looking statements.
FOR MORE INFORMATION:Daniel
Carpini 941-953-9035 daniel.carpini@vislink.com
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