CalAmp Reports Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
- CalAmp granted 252,240 shares of restricted stock unit awards to four new non-executive employees. The awards vest over a three-year period, with one-third of the shares vesting on the first anniversary of the grant date. The remaining shares vest quarterly. The awards were granted as an inducement for the new employees to join CalAmp.
- None.
IRVINE, Calif., Oct. 06, 2023 (GLOBE NEWSWIRE) -- CalAmp (Nasdaq: CAMP), a connected intelligence company helping people and organizations improve operational performance with a data-driven solutions ecosystem, today announced that on October 5, 2023, the Human Capital Committee of CalAmp’s Board of Directors granted inducement restricted stock unit awards covering 252,240 shares of CalAmp common stock to four new non-executive employees.
The awards were granted under CalAmp’s 2023 Employment Inducement Incentive Award Plan, which was adopted on August 15, 2023 and provides for the granting of equity awards to new employees of CalAmp. The restricted stock unit awards vest over a three-year period, with one-third of the shares underlying each award vesting on the first anniversary of the grant date, and the remaining shares underlying each award vesting quarterly thereafter, subject to continued service. The awards were granted as an inducement material to the new employees entering into employment with CalAmp, in accordance with Nasdaq Listing Rule 5635(c)(4).
About CalAmp
CalAmp (Nasdaq: CAMP) provides flexible solutions to help organizations worldwide monitor, track and protect their vital assets. Our unique device-enabled software and cloud platform enables commercial and government organizations worldwide to improve efficiency, safety, visibility and compliance while accommodating the unique ways they do business. With over 10 million active edge devices and 275+ approved or pending patents, CalAmp is the telematics leader organizations turn to for innovation and dependability. For more information, visit calamp.com, or LinkedIn, Twitter, YouTube or CalAmp Blog.
CalAmp, LoJack, TRACKER , Here Comes The Bus, Bus Guardian, CalAmp Vision, CrashBoxx and associated logos are among the trademarks of CalAmp and/or its affiliates in the United States, certain other countries and/or the EU. Spireon acquired the LoJack® U.S. Stolen Vehicle Recovery (SVR) business from CalAmp and holds an exclusive license to the LoJack mark in the United States and Canada. Any other trademarks or trade names mentioned are the property of their respective owners.
| CalAmp Media Contact: | CalAmp Investor Contact: |
| Mark Gaydos | Logan Lucas |
| mgaydos@calamp.com | ir@calamp.com |
| 240.994.3027 | 434.242.1755 |
