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10 April 2013

NeoPhotonics reports stock option inducement grants to employees of LAPIS Semiconductor optical components business unit

NeoPhotonics Corp of San Jose, CA, USA, a vertically integrated designer and manufacturer of both indium phosphide (InP) and silica-on-silicon photonic integrated circuit (PIC)-based modules and subsystems, says that, in connection with completing its acquisition of the semiconductor optical components business unit (OCU) of LAPIS Semiconductor Co Ltd (at the end of March), it has granted special inducement stock option grants under the NeoPhotonics 2011 Inducement Award Plan to retain certain OCU employees (20 in total) as employees of the NeoPhotonics group.

The firm granted options for an aggregate of 62,000 shares. Each option vests 25% on 1 April 2014 (approximately the first anniversary of the closing of the OCU acquisition) and the remainder in 36 substantially equal monthly installments thereafter, subject to such optionee being employed by the NeoPhotonics group on the vesting dates. The stock options have a 10-year term and an exercise price equal to $4.86 per share (the closing price of NeoPhotonics’ common stock on the New York Stock Exchange on the date of grant). The options were approved by the Compensation Committee of NeoPhotonics’ board of directors and were granted as a material inducement to employment with the NeoPhotonics group.

See related items:

NeoPhotonics completes acquisition of LAPIS’ optical components business unit for $35.2m

Tags: NeoPhotonics PICs



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