Press Releases
NeoPhotonics Reports Equity Award Inducement Grants to Employees Hired with the Acquisition of Emcore’s Narrow Linewidth Tunable Laser Product Line
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 15, 2015--
NeoPhotonics Corporation (NYSE:NPTN), a leading designer and
manufacturer of hybrid photonic integrated optoelectronic modules and
subsystems for bandwidth-intensive, high speed communications networks,
reported that in connection with the completion of its acquisition of
the Narrow Linewidth Tunable Laser Product Line of EMCORE Corporation,
the company granted special inducement equity awards under the
NeoPhotonics 2011 Inducement Award Plan to retain certain former Emcore
employees (23 in total) as employees of the NeoPhotonics group. The
company granted equity awards for an aggregate of 115,000 shares: stock
options to purchase 110,000 shares and 5,000 restricted stock units.
Each option vests 25% on January 5, 2016 (approximately the first
anniversary of the closing of the Emcore asset acquisition) and the
remainder in thirty-six substantially equal monthly installments
thereafter, subject to such optionee being employed by the NeoPhotonics
group on the applicable vesting dates. The stock options have a ten year
term and an exercise price equal to $3.34 per share, which was the
closing price of NeoPhotonics common stock on the New York Stock
Exchange on the date of grant. The Restricted Stock Units vest in equal
installments on each anniversary over four years. The equity awards were
approved by the Compensation Committee of the NeoPhotonics board of
directors and were granted as a material inducement to employment with
the NeoPhotonics group.
The NeoPhotonics Board of Directors approved the 2011 Inducement Award
Plan based on the employment inducement exemption provided under the
NYSE listing standards. As a result, the 2011 Inducement Award Plan did
not require shareholder approval, and this press release is being issued
pursuant to applicable NYSE guidance.
About NeoPhotonics
NeoPhotonics is a leading designer and manufacturer of hybrid photonic
integrated optoelectronic modules and subsystems for
bandwidth-intensive, high-speed communications networks. The Company’s
products enable cost-effective, high-speed data transmission and
efficient allocation of bandwidth over communications networks.
NeoPhotonics maintains headquarters in San Jose, California and ISO
9001:2000 certified engineering and manufacturing facilities in Silicon
Valley (USA), Japan and China. For additional information visit
www.neophotonics.com.
© 2015 NeoPhotonics Corporation. All rights reserved. NeoPhotonics and
the red dot logo are trademarks of NeoPhotonics Corporation. All other
marks are the property of their respective owners.
Source: NeoPhotonics Corporation
NeoPhotonics Corporation
Clyde R. Wallin, +1 408-895-6020
Chief
Financial Officer
ray.wallin@neophotonics.com
or
Sapphire
Investor Relations, LLC
Erica Mannion, +1 415-471-2700
Investor
Relations
ir@neophotonics.com
or
LouVan
Communications Inc.
Michael Newsom, +1 508-541-9036 (Office)
Public
Relations
Mobile: +1 617-803-5385
mike@louvanpr.com
