Applied Optoelectronics Announces Equity Grants To Employees Under Inducement Plan
Rhea-AI Summary
Applied Optoelectronics (NASDAQ: AAOI), a provider of fiber-optic network products, has announced inducement awards of 24,721 shares of common stock to one new employee. The grant, dated November 1, 2024, was made under the company's 2023 Equity Inducement Plan. The awards consist of restricted stock units that vest over a four-year period, contingent on continued employment. This plan is exclusively used for equity awards to new employees as an inducement for joining the company, in accordance with Nasdaq Listing Rule 5635(c)(4).
Positive
- Successful attraction of new talent through equity incentives
- Implementation of long-term retention strategy through 4-year vesting period
Negative
- Potential shareholder dilution from new stock issuance
News Market Reaction – AAOI
On the day this news was published, AAOI gained 0.85%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SUGAR LAND, Texas, Nov. 04, 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 24,721 shares of common stock to one new employee, with a grant date of November 1, 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
Monica Gould
+1-212-871-3927
ir@ao-inc.com
Cassidy Fuller
+1-415-217-4968
ir@ao-inc.com
FAQ
How many shares did Applied Optoelectronics (AAOI) grant in its November 2024 inducement award?
What is the vesting period for AAOI's November 2024 inducement awards?
Under which plan did AAOI issue its November 2024 equity grants?
What is the purpose of AAOI's inducement awards announced in November 2024?
