Airgain® Reports Granting of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
July 15 2021 - 4:50PM
Business Wire
Airgain, Inc. (NASDAQ: AIRG), a leading provider of advanced
wireless connectivity solutions and technologies used to enable
high performance wireless networking across a broad range of
devices and markets, including consumer, enterprise, and
automotive, today announced that it has granted inducement awards
to 11 new non-executive employees who recently joined the
Company.
The awards were made on July 15, 2021 under Airgain’s 2021
Employment Inducement Incentive Award Plan, which provides for the
granting of equity awards to new employees of Airgain as an
inducement to join the company. The inducement awards to the 11 new
employees consist of options to purchase an aggregate of 23,500
shares of Airgain common stock, and 16,700 restricted stock units
(“RSUs”). The options have a 10-year term and an exercise price
equal to $18.05 the fair market value of Airgain common stock on
the date of grant. The options vest over a four-year period, with
25% of the options vesting on the first anniversary of the
applicable vesting commencement date, and the rest vesting in equal
monthly installments thereafter and are subject to the employees’
continued service with the Company through the applicable vesting
date. Each RSU represents a contingent right to receive one share
of the Company's common stock and there is no exercise price
associated with the RSUs granted hereunder. The RSUs vest in four
substantially equal installments on each of August 15, 2022, 2023,
2024 and 2025, subject to the employees’ continued services with
the Company. The awards were approved by the Compensation Committee
of Airgain’s Board of Directors, as required by Nasdaq Rule
5635(c)(4), and were granted as an inducement material to the new
employees entering into employment with Airgain in accordance with
Nasdaq Rule 5635(c)(4).
About Airgain, Inc.
Airgain is a leading provider of advanced wireless connectivity
solutions and technologies used to enable high performance wireless
networking across a broad range of devices and markets, including
consumer, enterprise, and automotive. Airgain’s mission is to
connect the world through advanced antenna systems and integrated
wireless solutions. Combining design-led thinking with testing and
development, Airgain’s technologies are deployed in carrier, fleet,
enterprise, residential, private, government, and public safety
wireless networks and systems, including set-top boxes, access
points, routers, modems, gateways, media adapters, portables,
digital televisions, sensors, fleet, and asset tracking devices.
Through its pedigree in the design, integration, and testing of
high-performance embedded antenna technology, Airgain has become a
leading provider to the residential wireless local area networking,
also known as WLAN, market, supplying to leading carriers, original
equipment manufacturers, or OEMs, original design manufacturers, or
ODMs, and chipset manufacturers who depend on us to achieve their
wireless performance goals. Airgain is headquartered in San Diego,
California, and maintains design and test centers in the U.S.,
U.K., and China. For more information, visit airgain.com, or follow
Airgain on LinkedIn and Twitter.
Airgain and the Airgain logo are registered trademarks of
Airgain, Inc.
Forward-Looking Statements
Airgain cautions you that statements in this press release that
are not a description of historical facts are forward-looking
statements. These statements are based on the company's current
beliefs and expectations. These forward-looking statements include
statements regarding the expected employment relationship of the
employees receiving options and expectations about the Airgain’s
future performance and opportunities that involve substantial risks
and uncertainties. The inclusion of forward-looking statements
should not be regarded as a representation by Airgain that any of
our plans will be achieved. Actual results may differ from those
set forth in this press release due to the risk and uncertainties
inherent in our business, including, without limitation: the market
for our products is developing and may not develop as we expect;
risks associated with the performance of our products or the first
responder dedicated network; our products are subject to intense
competition, and competitive pressures from existing and new
companies may harm our business, sales, growth rates and market
share; the COVID-19 pandemic may continue to disrupt and otherwise
adversely affect our operations and those of our suppliers,
partners, distributors and ultimate end customers, and the overall
market that our antennas are used in, as well as adversely
affecting the general U.S. and global economic conditions and
financial markets, and, ultimately, our sales and operating
results; risks associated with the design and manufacturing of a
first of its kind product and its introduction into the newly
licensed first responder dedicated frequencies and associated
uncertainty of regulatory compliance in a new product category;
risks associated with quality and timing in manufacturing our
products and our reliance on third-party manufacturers; if we
cannot protect our intellectual property rights, our competitive
position could be harmed or we could incur significant expenses to
enforce our rights; and other risks described in our prior press
releases and in our filings with the Securities and Exchange
Commission, including under the heading "Risk Factors" in our
Annual Report on Form 10-K and any subsequent filings with the SEC.
You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
and we undertake no obligation to revise or update this press
release to reflect events or circumstances after the date hereof.
All forward-looking statements are qualified in their entirety by
this cautionary statement, which is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210715006076/en/
Airgain Company Contact Jules Cassano Director of Global
Marketing Airgain, Inc. media@airgain.com Airgain Investor
Contact Matt Glover Gateway Group, Inc. +1 949 574 3860
AIRG@gatewayir.com
Airgain (NASDAQ:AIRG)
Historical Stock Chart
From May 2024 to Jun 2024
Airgain (NASDAQ:AIRG)
Historical Stock Chart
From Jun 2023 to Jun 2024