Applied Optoelectronics Announces Equity Grants To Employees Under Inducement Plan

Rhea-AI Summary

Applied Optoelectronics, Inc. (NASDAQ: AAOI) granted inducement awards for 31,507 shares of common stock to 9 new employees under the 2023 Equity Inducement Plan. The awards consist of restricted stock units vesting over a four-year period.

SUGAR LAND, Texas, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Applied Optoelectronics, Inc. (NASDAQ: AAOI), a leading provider of fiber-optic access network products for the internet datacenter, cable broadband, telecom and fiber-to-the-home (FTTH) markets, today announced that the Compensation Committee of its Board of Directors granted inducement awards for 31,507 shares of common stock to 9 new employees, with a grant date of February 19, 2024, pursuant to the Applied Optoelectronics, Inc. 2023 Equity Inducement Plan (the “Inducement Plan”).

The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Applied Optoelectronics, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Applied Optoelectronics, pursuant to Nasdaq Listing Rule 5635(c)(4).

The inducement awards are comprised of restricted stock units which vest over a four-year period, subject to the employee’s continued service on the applicable vesting dates. The restricted stock units are subject to the terms and conditions of the Inducement Plan and restricted stock unit agreements covering the grants.

About Applied Optoelectronics

Applied Optoelectronics Inc. (AOI) is a leading developer and manufacturer of advanced optical products, including components, modules and equipment. AOI's products are the building blocks for broadband fiber access networks around the world, where they are used in the internet datacenter, CATV broadband, telecom and FTTH markets. AOI supplies optical networking lasers, components and equipment to tier-1 customers in all four of these markets. In addition to its corporate headquarters, wafer fab and advanced engineering and production facilities in Sugar Land, TX, AOI has engineering and manufacturing facilities in Taipei, Taiwan and Ningbo, China. For additional information, visit www.ao-inc.com.

Investor Relations Contacts:

The Blueshirt Group, Investor Relations Lindsay Savarese
+1-212-331-8417
ir@ao-inc.com

Cassidy Fuller
+1-415-217-4968
ir@ao-inc.com

How many shares of common stock were granted to new employees by Applied Optoelectronics, Inc.?

Applied Optoelectronics, Inc. granted 31,507 shares of common stock to 9 new employees.

What is the grant date of the inducement awards by Applied Optoelectronics, Inc.?

The grant date of the inducement awards by Applied Optoelectronics, Inc. was February 19, 2024.

Under which plan were the inducement awards granted by Applied Optoelectronics, Inc.?

The inducement awards were granted under the Applied Optoelectronics, Inc. 2023 Equity Inducement Plan.

What type of awards were granted by Applied Optoelectronics, Inc. to new employees?

Restricted stock units were granted by Applied Optoelectronics, Inc. to new employees.

How long is the vesting period for the restricted stock units granted by Applied Optoelectronics, Inc.?

The restricted stock units granted by Applied Optoelectronics, Inc. vest over a four-year period.