QuickLogic Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

The equity award is subject to continued employment throughout its three-year vesting schedule.

Rhea-AI Summary

QuickLogic (QUIK) granted restricted stock units covering 51,502 common shares to new finance chief James Sullivan on October 5, 2026.

The employment inducement award falls outside the 2019 Equity Incentive Plan under Nasdaq Listing Rule 5635(c)(4). It vests over three years: one-third on October 5, 2027, then one-sixth every six months, subject to Sullivan's continued employment.

Positive

• None.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.51,502 common shares covered by new-hire restricted stock units represent potential dilution as they vest.

Key Figures

Inducement RSUs: 51,502 shares Vesting period: Three years Initial vesting: 1/3 +1 more

Inducement RSUs

51,502 shares

Award to the new CFO

Vesting period

Three years

Subject to continued employment

Initial vesting

1/3

October 5, 2027

Subsequent vesting

1/6

Each six months thereafter

Historical Context

1 past event · Latest: Sep 21

1 event

1. Sep 21

   CFO transition

   24h Move

   +0.2%

   Earlier announcement disclosed Sullivan's CFO appointment and $600,000 inducement RSU award vesting over three years.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

restricted stock unit awards, nasdaq listing rule 5635(c)(4)

2 terms

restricted stock unit awards financial

"granted restricted stock unit awards for 51,502 shares"

Restricted stock unit awards are company promises to deliver a specific number of shares to employees or service providers in the future once conditions—such as staying with the company for a set time or meeting performance targets—are met. They matter to investors because when the promises convert into actual shares they increase the total share count and can reduce earnings per share, while also aligning recipients’ interests with stock performance much like deferred pay that turns into ownership if goals are met.

nasdaq listing rule 5635(c)(4) regulatory

"pursuant to Nasdaq Listing Rule 5635(c)(4)"

NASDAQ Listing Rule 5635(c)(4) is a rule that requires a company to get approval from its shareholders before selling a large amount of its shares, usually over 20%. This helps protect investors by making sure the company doesn't flood the market with new shares without their say, which could lower the stock's value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SAN JOSE, Calif., Oct. 6, 2026 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK) ("QuickLogic" or the "Company"), a developer of embedded FPGA (eFPGA) Hard IP, Strategic Radiation Hardened and Antifuse FPGAs and ruggedized programmable logic solutions, today announced that the Compensation Committee of its Board of Directors granted restricted stock unit awards for 51,502 shares of the Company's common stock (the "New-Hire RSUs") to James Sullivan, the Company's new Senior Vice President of Finance and Chief Financial Officer. The award was previously announced on September 21, 2026 and granted by the Compensation Committee on October 5, 2026, as an inducement material to his entering into employment with the Company, pursuant to Nasdaq Listing Rule 5635(c)(4).

The New-Hire RSUs will be granted outside of the Company's 2019 Equity Incentive Plan and will vest over a three-year period, with 1/3rd vesting on October 5, 2027 and 1/6th vesting each six months thereafter, subject to Mr. Sullivan's continued employment with the Company.

About QuickLogic
QuickLogic Corporation is a fabless semiconductor company specializing in eFPGA Hard IP, Strategic Radiation Hardened and Antifuse FPGAs and ruggedized programmable logic solutions. QuickLogic's unique approach combines cutting-edge technology with open-source tools to deliver highly customizable, low-power solutions for aerospace and defense, industrial, computing, and consumer markets. For more information, visit www.quicklogic.com. 

QuickLogic and logo are registered trademarks of QuickLogic. All other trademarks are the property of their respective holders and should be treated as such.

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SOURCE QuickLogic Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How large is QuickLogic's inducement grant to new CFO James Sullivan?

QuickLogic granted James Sullivan restricted stock units covering 51,502 common shares on October 5, 2026. The award was an inducement material to his entering employment as Senior Vice President of Finance and Chief Financial Officer.

When does James Sullivan's QuickLogic inducement award vest?

The award vests over three years, with one-third vesting on October 5, 2027, and one-sixth every six months thereafter. Vesting is subject to Sullivan's continued employment with QuickLogic.