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LSI Industries Inc. Reports Inducement Grants Under NASDAQ Listing Rules
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LSI Industries Inc. (LYTS) announces an inducement grant to Kevin Kilkelly, President of Atlas Lighting Products, Inc. The grant includes an option to purchase 30,000 shares of common stock at $14.41 per share, vesting in full after three years.
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CINCINNATI--(BUSINESS WIRE)--
LSI Industries Inc. (NASDAQ: LYTS, or the “Company”) a leading U.S. based manufacturer of commercial lighting and display solutions, today announced an inducement grant in accordance with NASDAQ Listing Rule 5635(c)(4) to Kevin Kilkelly, President, Atlas Lighting Products, Inc., effective March 1, 2024. The awards were granted by the Company’s Compensation Committee.
Mr. Kilkelly was granted an inducement stock option to purchase up to 30,000 shares of the Company’s common stock. The award was approved in connection with the commencement of his employment with the Company on February 28, 2024 and has a ten-year term. The option is exercisable at a price of $14.41 per share (the closing price on March 1, 2024). The options will vest in full on the third anniversary date of grant.
About LSI Industries Inc.
Headquartered in Cincinnati, LSI Industries (Nasdaq: LYTS) specializes in the creation of advanced lighting, graphics, and display solutions. The company's American-made products, which include lighting, print graphics, digital graphics, refrigerated, and custom displays, are engineered to elevate brands in competitive markets. With a workforce of nearly 1,600 employees and 11 facilities throughout North America, LSI is dedicated to providing top-quality solutions to its customers. Additional information about LSI is available at www.lsicorp.com.
Forward-Looking Statements
For details on the uncertainties that may cause our actual results to be materially different than those expressed in our forward-looking statements, visit https://investors.lsicorp.com as well as our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q which contain risk factors.
Additional note: Today’s news release, along with past releases from LSI Industries Inc., is available on the Company’s internet site at www.lsicorp.com.
leadership. strength. innovation. those are the key values behind the smart vision upon which lsi industries inc. was founded when established in 1976. today lsi demonstrates this in our dedication to advancing technology throughout all aspects of our business. we are a vertically integrated manufacturer who combines integrated technology, design and manufacturing to produce the most efficient, high quality products possible. everything we build is done right here in one of our us plants. we are committed to advancing solid-state technology to make affordable, high performance, energy efficient lighting and custom graphic products that bring value to our customers. we have a vast offering of innovative solutions for virtually any lighting or graphics application. further, we can provide design support, engineering, installation and project management for custom graphics rollout programs for today’s retail environment. official site: http://www.lsi-industries.com facebook: https:/
