Applied Optoelectronics Announces Equity Grants To Employees Under Inducement Plan
Rhea-AI Summary
Applied Optoelectronics (NASDAQ: AAOI) has announced equity grants to 3 new employees under its 2023 Equity Inducement Plan. The Compensation Committee of the Board of Directors approved inducement awards for 16,145 shares of common stock, with a grant date of July 29, 2024. These awards, in the form of restricted stock units, will vest over a four-year period, contingent on the employees' continued service. The Inducement Plan is specifically designed for granting equity awards to new hires as an incentive for joining Applied Optoelectronics, in compliance with Nasdaq Listing Rule 5635(c)(4).
Positive
- Attracting new talent with equity incentives
- Aligning employee interests with company performance through stock-based compensation
Negative
- Potential dilution of existing shareholders' equity
News Market Reaction
On the day this news was published, AAOI gained 17.61%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SUGAR LAND, Texas, July 30, 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 16,145 shares of common stock to 3 new employees, with a grant date of July 29, 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
FAQ
How many new employees received equity grants from Applied Optoelectronics (AAOI) in July 2024?
What is the total number of shares granted in Applied Optoelectronics' (AAOI) July 2024 inducement awards?
What is the vesting period for the restricted stock units granted by Applied Optoelectronics (AAOI) in July 2024?
What is the purpose of Applied Optoelectronics' (AAOI) 2023 Equity Inducement Plan?
